<SEC-DOCUMENT>0001292814-22-003475.txt : 20220811
<SEC-HEADER>0001292814-22-003475.hdr.sgml : 20220811
<ACCEPTANCE-DATETIME>20220811164200
ACCESSION NUMBER:		0001292814-22-003475
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220630
FILED AS OF DATE:		20220811
DATE AS OF CHANGE:		20220811

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PETROBRAS - PETROLEO BRASILEIRO SA
		CENTRAL INDEX KEY:			0001119639
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15106
		FILM NUMBER:		221156524

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA REPUBLICA DO CHILE 65
		CITY:			RIO DE JANERIO RJ BR
		STATE:			D5
		ZIP:			20035-900
		BUSINESS PHONE:		55-21-534-4477

	MAIL ADDRESS:	
		STREET 1:		AVENIDA REPUBLICA DO CHILE 65
		CITY:			RIO DE JANERIO RJ BR
		STATE:			D5
		ZIP:			20035-900

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRAZILIAN PETROLEUM CORP
		DATE OF NAME CHANGE:	20000717
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>pbr20220811_6k.htm
<DESCRIPTION>6-K
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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>Washington, D.C.
20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>FORM 6-K</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">Report of Foreign Private
Issuer<BR>
Pursuant to Rule 13a-16 or 15d-16 of the</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">Securities Exchange
Act of 1934</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>For the month of
August, 2022</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>Commission File Number
1-15106</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>PETR&Oacute;LEO BRASILEIRO
S.A. &ndash; PETROBRAS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">(Exact name of registrant
as specified in its charter)</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 14pt">&nbsp;</P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>Brazilian Petroleum
Corporation &ndash; PETROBRAS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">(Translation of Registrant's
name into English)</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 14pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white"><B>Avenida Henrique Valadares, 28 &ndash; 19th floor&nbsp;<BR>
20231-030 &ndash; Rio de Janeiro, RJ<BR>
Federative Republic of Brazil</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">(Address of principal
executive office)</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">Indicate by check mark
whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">Form 20-F ___X___ Form
40-F _______</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">Indicate by check mark
whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt/11.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Yes _______ No___X____</P>

<P STYLE="font: 11pt/11.75pt Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

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    <TD>
    <P STYLE="font: 36pt Arial,sans-serif; margin: 0; color: #006298"><B>Financial Information</B></P>
    <P STYLE="font: 36pt Arial,sans-serif; margin: 0; color: #006298"><B>Jan-Jun/2022</B></P>
    <P STYLE="font: 28pt Petrobras Sans,sans-serif; margin: 0; color: #FDC82F"><B>&mdash;</B></P>
    <P STYLE="font: 22pt Petrobras Sans,sans-serif; margin: 0; color: #675C53"><I>&nbsp;</I></P></TD></TR>
  </TABLE>
<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>B3: PETR3 (ON) | PETR4 (PN)</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>NYSE: PBR (ON) | PBRA (PN)</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>www.petrobras.com.br/ir</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>petroinvest@petrobras.com.br</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>+ 55 21 3224-1510</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>Disclaimer</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #767171"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin-right: 0; margin-left: 0; color: #767171">This presentation contains some financial
indicators that are not recognized by GAAP or the IFRS. The indicators presented herein do not have standardized meanings and may not
be comparable to indicators with a similar description used by others. We provide these indicators because we use them as measures of
company performance and liquidity; they should not be considered in isolation or as a substitute for other financial metrics that have
been disclosed in accordance with IFRS. See definitions of EBITDA, Adjusted EBITDA, LTM Adjusted EBITDA, Adjusted Cash and Cash Equivalents,
Net Debt, Gross Debt, Free Cash Flow, and Leverage in the Glossary and their reconciliations in the sections Liquidity and Capital Resources,
Reconciliation of LTM Adjusted EBITDA, Gross Debt/LTM Adjusted EBITDA and Net Debt/LTM Adjusted EBITDA metrics and Consolidated Debt.</P>


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<P STYLE="font: 11pt/115% Calibri,sans-serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt"><B><A NAME="TableOfContents"></A>TABLE OF CONTENTS</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="width: 90%; background-color: white; text-align: justify; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_001">CONSOLIDATED RESULTS</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_002">Key Financial Information</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">4</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_003">Sales Revenues</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">4</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_004">Cost of Sales</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">5</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_005">Income (Expenses)</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">5</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_006">Net finance income (expense)</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">6</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_007">Income tax expenses</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">6</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_008">Net Income attributable to shareholders of Petrobras</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">6</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-align: justify; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_009">CAPITAL EXPENDITURES (CAPEX)</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">7</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-align: justify; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-align: justify; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_010">LIQUIDITY AND CAPITAL RESOURCES</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">8</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-align: justify; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-align: justify; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_011">CONSOLIDATED DEBT</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">9</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white">
    <P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>
    <P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-indent: 0cm"><FONT STYLE="font-weight: normal"><A HREF="#a_012">RECONCILIATION OF LTM ADJUSTED EBITDA, GROSS DEBT/ LTM ADJUSTED EBITDA AND NET DEBT/LTM ADJUSTED EBITDA METRICS</A></FONT></P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_013">Adjusted EBITDA</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">10</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_014">LTM Adjusted EBITDA</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">11</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_015">Gross Debt/LTM Adjusted EBITDA and Net Debt/LTM Adjusted EBITDA Metrics</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">12</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-align: justify; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_016">RESULTS BY OPERATING BUSINESS SEGMENTS</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_017">Exploration and Production (E&amp;P)</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">13</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_018">Refining, Transportation and Marketing</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">14</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_019">Gas and Power</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">15</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_020">GLOSSARY</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif">16</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Petrobras Sans,sans-serif; margin: 6pt 0; text-align: justify"><A NAME="a_001"></A>CONSOLIDATED RESULTS</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">The main functional currency of the Petrobras Group is
the Brazilian real, which is the functional currency of the parent company and its Brazilian subsidiaries. As the presentation currency
of the Petrobras Group is the U.S. dollar, the results of operations in Brazilian reais are translated into U.S. dollars using the average
exchange rates prevailing during the period (average exchange rate of R$/US$ 5.08 in Jan-Jun/2022 compared to R$/US$ 5.38 in Jan-Jun/2021).</P>

<P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_002"></A>Key Financial Information</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="white-space: nowrap; width: 67%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021 </B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; border-right: white 1pt solid">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>Change </B></P>
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>(%)</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Sales revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">61,892</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">36,680</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">68.7</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Cost of Sales</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(28,019)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(17,849)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">57.0</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gross profit</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">33,873</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,831</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">79.8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income (expenses)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,048)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(3,961)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(48.3)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Consolidated net income attributable to the shareholders of Petrobras</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19,615</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8,301</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">136.3</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net cash provided by operating activities</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">24,804</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,067</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">37.3</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Adjusted EBITDA</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">34,904</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">20,656</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">69.0</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average Brent crude (US$/bbl)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">107.59</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">64.86</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">65.9</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average Crude Oil sales price (US$/bbl)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">100.24</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">61.45</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">63.1</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average Domestic basic oil products price (US$/bbl)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">120.04</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">70.17</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">71.1</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="white-space: nowrap; width: 67%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>06.30.2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>12.31.2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; border-right: white 1pt solid">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>Change </B></P>
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>(%)</B></P></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gross Debt</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">53,577</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">58,743</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">(8.8)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net Debt</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">34,435</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">47,626</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">(27.7)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gross Debt/LTM Adjusted EBITDA ratio</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">0.93</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1.35</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">(31.1)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net Debt/LTM Adjusted EBITDA ratio</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">0.60</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1.09</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">(45.0)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_003"></A>Sales Revenues</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; border-left: white 1pt solid; background-color: #006299; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$ million</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; background-color: #006299">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>Change </B></P>
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>(%)</B></P></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #DADADA; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Diesel</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #DADADA; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">18,164</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #DADADA; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">10,647</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: #006298 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">70.6</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gasoline</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">8,034</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">4,765</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">68.6</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Liquefied petroleum gas (LPG)</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">2,623</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">2,036</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">28.8</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Jet fuel</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">2,391</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">827</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">189.1</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Naphtha</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1,335</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">693</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">92.6</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Fuel oil (including bunker fuel)</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">718</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">723</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">(0.7)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other oil by-products</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">2,889</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1,883</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">53.4</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Subtotal Oil By-Products</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>36,154</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>21,574</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>67.6</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Natural gas</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">3,684</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">2,370</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">55.4</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Crude oil</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">4,443</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">53</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">8283.0</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Renewables and nitrogen products</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">161</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">22</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">631.8</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Revenues from non-exercised rights</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">274</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">161</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">70.2</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Electricity</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">402</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1,134</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">(64.6)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Services, agency and others</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">545</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">331</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">64.7</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total domestic market</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>45,663</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>25,645</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>78.1</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Exports </FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">14,924</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">10,496</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">42.2</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Crude oil</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">10,405</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">7,512</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">38.5</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Fuel oil (including bunker fuel)</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">4,161</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">2,455</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">69.5</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Other oil by-products and other products</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">358</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">529</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">(32.3)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Sales abroad *</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1,305</FONT></TD>
    <TD STYLE="text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">539</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">142.1</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total foreign market</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>16,229</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>11,035</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>47.1</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006299 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #006299 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>61,892</B></FONT></TD>
    <TD STYLE="border-bottom: #006299 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>36,680</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>68.7</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%">
    <P STYLE="font: 7pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">* <FONT STYLE="color: windowtext">Sales revenues from operations
    outside of Brazil, including trading and excluding exports.</FONT></P>
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 12%; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 12%; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 9%; font: 10pt Times New Roman,serif">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Sales revenues were US$ 61,892 million for
the period Jan-Jun/2022, a 68.7% increase (US$ 25,212 million) when compared to US$ 36,680 million for the period Jan-Jun/2021, mainly
due to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 10pt">a US$ 14,580 million increase in
domestic oil by-products revenues, of which US$ 14,656 million relates to an increase in average Brent prices, compensated by US$ 76 million
related to a decrease in volume; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 0 36pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri,sans-serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 10pt">a US$ 7,283 million increase in
crude oil revenues, of which US$ 5,717 million relates to an increase in average Brent prices, and US$ 1,566 million relates to an increase
in volume.</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_004"></A>Cost of Sales</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; border-left: white 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>Change </B></P>
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>(%)</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 67%; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Raw material, products for resale, materials and third-party services *</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(13,769)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7,610)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 9%; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">80.9</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Depreciation, depletion and amortization</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(5,344)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,404)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">21.3</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Production taxes</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(8,093)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,984)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">62.3</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Employee compensation</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(813)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(851)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4.4)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; background-color: #D9D9D9; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(28,019)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(17,849)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; background-color: #D9D9D9; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>57.0</B></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 7pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">* It includes short-term leases and inventory turnover.</P>

<P STYLE="font: 4pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Cost of sales was US$ 28,019 million for the
period Jan-Jun/2022, a 57.0% increase (US$ 10,170 million) when compared to US$ 17,849 million for the period Jan-Jun/2021, mainly due
to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">higher acquisition costs of both imported oil and
oil by-products due to higher Brent prices;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">higher production taxes due to higher Brent prices;
and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">higher sales volumes of crude oil.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_005"></A>Income (Expenses) </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; border-left: white 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>Change </B></P>
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>(%)</B></P></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Selling expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,425)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,034)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19.2</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">General and administrative expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(622)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(533)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">16.7</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Exploration costs</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(123)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(405)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(69.6)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Research and development expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(426)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(264)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">61.3</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other taxes</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(152)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(152)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Impairment of assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(167)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(180)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7.2)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other income and expenses, net</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,867</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(393)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006299 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(2,048)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006299 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(3,961)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006299 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(48.3)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 4pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Selling expenses were US$ 2,425 million for
the period Jan-Jun/2022, a 19.2% increase (US$ 391 million) compared to US$ 2,034 million for the period Jan-Jun/2021, mainly due to higher
volume sold and higher expenses related to natural gas, whose fees were increased in the period, as provided for in the transport contracts.</P>

<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">General and administrative expenses were US$
622 million for the period Jan-Jun/2022, a 16.7% increase (US$&nbsp;89 million) compared to US$ 533 million for the period Jan-Jun/2021,
mainly due to inflation.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Impairment of assets were US$ 167 million for the period
Jan-Jun/2022 due to the permanent shutdown of the P-35 platform in the Marlim field and losses related to divestments of the Golfinho
and LUBNOR clusters. In Jan-Jun/2021, US$ 180 million impairment losses were recognized, mainly due to (i) a US$ 190 million loss arising
from the decision to discontinue the use of P-33 and P-26 platforms in the Marlim field; (ii) a US$ 79 million loss arising from the decision
to sell the thermoelectric power plants Arembepe, Muryci and Bahia 1, located in Cama&ccedil;ari, in the state of Bahia; (iii) a US$ 61
million impairment reversal arising from the approval for sale of the Papa-Terra field, located in the Campos Basin, state of Rio de Janeiro;
and (iv) a US$ 27 million impairment reversal arising from the decision to use certain equipment that were previously part of platforms
P-72 and P-73 in producing fields in the Santos basin.</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_006"></A>Net finance income (expense)</B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="width: 67%; border-top: white 1pt solid; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006299"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$ million</B></FONT></TD>
    <TD STYLE="width: 12%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-right: white 1pt solid; background-color: #006299">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>Change </B></P>
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: center; color: white"><B>(%)</B></P></TD></TR>

<TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; border-top: #006298 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Finance income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>881</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>328</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>168.6</B></FONT></TD></TR>
  <TR>
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income from investments and marketable securities (Government Bonds) </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">532</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">74</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">618.9</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other income, net</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">349</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">254</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">37.4</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Finance expenses</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(1,716)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(3,079)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(44.3)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Interest on finance debt</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,223)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,656)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(26.1)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Unwinding of discount on lease liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(624)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(592)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">5.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Discount and premium on repurchase of debt securities</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(110)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(849)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(87.0)</FONT></TD></TR>
  <TR>
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Capitalized borrowing costs</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">535</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">478</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">11.9</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Unwinding of discount on the provision for decommissioning costs</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(267)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(384)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(30.5)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other finance expenses and income, net</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(27)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(76)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(64.5)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Foreign exchange gains (losses) and indexation charges</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(1,767)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(869)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>103.3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Foreign exchange gains (losses) </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">781</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,001</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(22.0)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Reclassification of hedge accounting to the Statement of Income</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,488)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,307)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">7.8</FONT></TD></TR>
  <TR>
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Recoverable taxes inflation indexation income (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">45</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">474</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(90.5)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other foreign exchange gains (losses) and indexation charges, net</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(105)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(37)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">183.8</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(2,602)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(3,620)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(28.1)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">* In 2021, includes PIS and COFINS inflation indexation
income - exclusion of ICMS (VAT tax) from the basis of calculation.</P>

<P STYLE="font: 12pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Net finance income (expense) was an expense of US$ 2,602
million for the period Jan-Jun/2022, a decrease of US$ 1,018 million compared to an expense of US$ 3,620 million for the period Jan-Jun/2021,
mainly due to:</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">foreign exchange gains of US$ 781 million in Jan-Jun/2022,
as compared to US$ 1,001 million gain in Jan-Jun/2021 reflecting a 6.1% appreciation of the real/US$ exchange rate in Jan-Jun/2022 (06/30/2022:
R$ 5.24/US$, 12/31/2021 R$ 5.58/US$) compared to a 3.8% appreciation in Jan-Jun/2021 (06/30/2021: R$ 5.00/US$, 12/31/2020: R$ 5.20/US$),
which applied to a lower average net liability exposure to the US$ during Jan-Jun/2022 than in Jan-Jun/2021;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">lower interest on finance debt of US$ 1,223 million
in Jan-Jun/2022, as compared to US$ 1,656 million in Jan-Jun/2021, due to a decrease in the amount of our debt;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">lower discount and premium on repurchase of debt
securities of US$ 110 million in Jan-Jun/2022, as compared to US$ 849 million in Jan-Jun/2021, due to lower volume of debt repurchase;
and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri,sans-serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">higher income from investments and marketable securities
(Government Bonds) of US$ 532 million in Jan-Jun/2022, as compared to US$ 74 million in Jan-Jun/2021, due to higher average cash balances
and interest rates.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_007"></A>Income tax expenses</B></P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Income tax was an expense of US$ 9,875 million in Jan-Jun/2022,
compared to an expense of US$ 4,103 million in Jan-Jun/2021, the increase was mainly due to higher net income before income taxes (US$
29,564 million of income in Jan-Jun/2022 compared to a US$ 12,459 million income in Jan-Jun/2021), resulting in nominal income taxes computed
based on Brazilian statutory corporate tax rates (34%) of US$ 10,051 million in Jan-Jun/2022 compared to a US$ 4,236 million in Jan-Jun/2021.</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_008"></A>Net Income attributable to shareholders of Petrobras
</B></P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 6pt 0; text-align: justify">Net income attributable to shareholders of Petrobras
was a net income of US$ 19,615 million for the period Jan-Jun/2022, a US$&nbsp;11,314 million increase compared to a net income of US$
8,301 million for the period Jan-Jun/2021, mainly due to business performance improvement, led by higher oil prices and increased margins.</P>

<P STYLE="font: bold 12pt Petrobras Sans,sans-serif; margin: 6pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: bold 12pt Petrobras Sans,sans-serif; margin: 6pt 0; text-align: justify"><A NAME="a_009"></A>CAPITAL EXPENDITURES (CAPEX)</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Capital expenditures, or CAPEX, is based on the cost assumptions
and financial methodology adopted in our strategic plans, which includes acquisition of intangible assets and property, plant and equipment,
investment in investees and other items that do not necessarily qualify as cash flows used in investing activities, comprising geological
and geophysical expenses, research and development expenses, pre-operating charges, purchase of property, plant and equipment on credit
and borrowing costs directly attributable to works in progress.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="width: 67%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #006299"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>CAPEX (US$&nbsp;million)</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #006299; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Exploration and Production (*)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,889</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,574</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DADADA; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(8.8)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Refining, Transportation and Marketing</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">526</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">447</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">17.7</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gas and Power</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">186</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">157</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DADADA; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18.5</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Corporate and Other businesses</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">241</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">100</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">141.0</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DADADA">
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total </B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>4,842</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>4,278</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>13.2</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">(*) In Jan-Jun/2022, there is US$ 840 of signature bonus
related to the S&eacute;pia and Atapu fields.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">We invested a total of US$&nbsp;4,842 million in Jan-Jun/2022,
of which 80.3% was in the E&amp;P segment, a 13.2% increase when compared to our Capital Expenditures of US$&nbsp;4,278 million in Jan-Jun/2021,
mainly due to the impact of the signature bonus for the S&eacute;pia and Atapu fields, following the co-participation agreements necessary
to manage the coexisting deposits of the Transfer of Rights Agreement and the Production Sharing Contract (related to the surplus volume)
of these areas. In line with our Strategic Plan, our Capital Expenditures were primarily directed toward investment projects in which
Management believes are most profitable, relating to oil and gas production.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">In Jan-Jun/2022, investments in the E&amp;P segment totaled
US$&nbsp;3,889 million, mainly concentrated on: (i) signature bonus for the S&eacute;pia and Atapu fields (US$ 840 million); (ii) the
development of ultra-deep water production in the Santos Basin pre-salt complex (US$&nbsp;1,100 million); (iii) development of new projects
in deep water (US$&nbsp;400 million); and (iv) exploratory investments in the pre-salt and post-salt layers (US$&nbsp;200 million).</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: bold 11pt Petrobras Sans,sans-serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Petrobras Sans,sans-serif; margin: 0 0 12pt"><A NAME="a_010"></A>LIQUIDITY AND CAPITAL RESOURCES</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="width: 76%; border-left: white 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006299"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="width: 12%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-top: #006298 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Adjusted Cash and Cash Equivalents at the beginning of the period</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>11,117</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>12,370</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Government bonds and time deposits with maturities of more than 3 months at the beginning of the period </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(650)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(659)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Cash and cash equivalents in companies classified as held for sale at the beginning of the period</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">13</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">14</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Cash and cash equivalents at the beginning of the period</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>10,480</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>11,725</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net cash provided by operating activities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>24,804</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>18,067</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Acquisition of PP&amp;E and intangibles assets</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,073)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(3,135)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Investments in investees</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(11)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Proceeds from disposal of assets &ndash; (Divestments)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,378</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">502</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Financial compensation from co-participation agreement</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">5,213</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&#8722;</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Dividends received</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">242</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">200</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Divestment (Investment) in marketable securities</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-left: 20pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,108)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-left: 20pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">91</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net cash provided by (used in) investing activities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-left: 20pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>2,633</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-left: 20pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(2,353)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(=) Net cash provided by operating and investing activities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>27,437</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>15,714</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 30pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Proceeds from finance debt</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">330</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,668</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 30pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Repayments of finance debt</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6,393)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(14,785)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net change in finance debt</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6,063)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(13,117)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Repayment of lease liability</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,682)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,899)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Dividends paid to shareholders of Petrobras </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(12,429)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,848)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Dividends paid to non-controlling interest</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(58)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(39)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Investments by non-controlling interest</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(17)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(14)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net cash used in financing activities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(21,249)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(17,917)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Effect of exchange rate changes on cash and cash equivalents</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(374)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">300</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Cash and cash equivalents at the end of the period</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>16,294</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>9,822</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Government bonds and time deposits with maturities of more than 3 months at the end of the period </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,855</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">602</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Cash and cash equivalents in companies classified as held for sale at the end of the period</FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7)</FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Adjusted Cash and Cash Equivalents at the end of the period</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>19,142</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>10,423</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Reconciliation of Free Cash Flow</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net cash provided by operating activities</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">24,804</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,067</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Acquisition of PP&amp;E and intangibles assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,073)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(3,135)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Free Cash Flow *</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>20,731</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>14,932</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">* Free cash flow (FCF) is in accordance with the Shareholder
Remuneration Policy, which is the result of the equation: FCF = net cash provided by operating activities less acquisitions of PP&amp;E
and intangible assets.</P>

<P STYLE="font: 7pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">As of June 30, 2022, the balance of Cash and cash
equivalents was US$&nbsp;16,294 million and Adjusted Cash and Cash Equivalents totaled US$&nbsp;19,142 million.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">The six-month period ended June 30, 2022 had net
cash provided by operating activities of US$ 24,804 million and positive free cash flow of US$ 20,731 million. This level of cash generation,
together with proceeds from disposal of assets (divestments) of US$&nbsp;3,378 million, financial compensation for co-participation agreements
in Sepia and Atapu of US$ 5,213 million and proceeds from finance debt of US$&nbsp;330 million, were allocated to: (a) debt prepayments
and to amortizations of principal and interest due in the period of US$&nbsp;6,393 million; (b) repayment of lease liability of US$&nbsp;2,682
million; (c) dividends paid to shareholders of Petrobras of US$ 12,429 million; (d) acquisition of PP&amp;E and intangibles assets of
US$&nbsp;4,073 million; and (e) investment in marketable securities of US$ 2,108 million.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">The Company repaid several finance debts, in the
amount of US$&nbsp;6,393 million, notably US$&nbsp;3,986 to repurchase and withdraw global bonds previously issued by the Company in the
capital market.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>




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<P STYLE="font: bold 11pt Petrobras Sans,sans-serif; margin: 0 0 12pt"><A NAME="a_011"></A>CONSOLIDATED DEBT</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border: white 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Debt (US$&nbsp;million)</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>06.30.2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>12.31.2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Capital Markets</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,261</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">22,031</P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(17.1)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Banking Market</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">9,158</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">9,762</P>
    </TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6.2)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Development banks</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">770</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">769</P>
    </TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">0.1</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Export Credit Agencies</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,688</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">2,951</P>
    </TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(8.9)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Others</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">174</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">187</P>
    </TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6.9)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Finance debt</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>31,051</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right"><B>35,700</B></P>
    </TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(13.0)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Lease liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>22,526</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right"><B>23,043</B></P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(2.2)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey"><B>Gross Debt</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey"><B>53,577</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right"><FONT STYLE="background-color: lightgrey"><B>58,743</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(8.8)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Adjusted Cash and Cash Equivalents</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19,142</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">11,117</P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">72.1</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net Debt</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>34,435</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right"><B>47,626</B></P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(27.7)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Leverage: Net Debt/(Net Debt + Shareholders' Equity) </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">30%</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">41%</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(26.8)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average interest rate (% p.a.)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6.3</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">6.2</P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1.6</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Weighted average maturity of outstanding debt (years)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">13.04</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">13.39</P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2.6)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 12pt; text-align: justify">As of June 30, 2022, the Company&rsquo;s maintained
its liability management strategy to improve the debt profile and to adapt to the maturity terms of the Company&rsquo;s long-term investments.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">The cash flow generation and continuous liability
management allowed a reduction in our indebtedness. Gross Debt decreased 8.8% (US$&nbsp;5,166 million) to US$&nbsp;53,577 million on June
30, 2022 from US$&nbsp;58,743 million on December 31, 2021. Gross Debt was lower than the US$ 60,000 million target established for 2022,
mainly due to debt prepayments and amortizations.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">Net Debt was reduced by 27.7% (US$ 13,191 million),
reaching US$ 34,435 million on June 30, 2022, compared to US$ 47,626 million on December 31, 2021.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>



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    <!-- Field: /Page -->

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Petrobras Sans,sans-serif; margin: 0; text-indent: 0cm"><A NAME="a_012"></A>RECONCILIATION OF LTM ADJUSTED EBITDA, GROSS DEBT/ LTM
ADJUSTED EBITDA AND NET DEBT/LTM ADJUSTED EBITDA METRICS</P>

<P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">LTM Adjusted EBITDA reflects the sum of the last
twelve months of Adjusted EBITDA, which is computed by using the EBITDA (net income before net finance income (expense), income taxes,
depreciation, depletion and amortization) adjusted by items not considered part of the Company&rsquo;s primary business, which include
results in equity-accounted investments, reclassification of comprehensive income (loss) due to the disposal of equity-accounted investments,
results from disposal and write-offs of assets and on remeasurement of investment retained with loss of control, impairment and results
from co-participation agreements in bid areas.&#9;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">LTM Adjusted EBITDA represents an alternative to the company's
operating cash generation. This measure is used to calculate the metrics Gross Debt/LTM Adjusted EBITDA and Net Debt/LTM Adjusted EBITDA,
to support management&rsquo;s assessment of liquidity and leverage.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-indent: 1cm"><B><A NAME="a_013"></A>EBITDA, Adjusted EBITDA and Net cash provided
by operating activities &ndash; OCF</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="width: 67%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$ million</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006299; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; background-color: #DADADA"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net income </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19,689</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8,356</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">135.6</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net finance income (expense)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,602</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,620</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(28.1)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DADADA"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income taxes</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">9,875</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,103</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">140.7</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Depreciation, depletion and amortization</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6,630</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">5,678</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">16.8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #DADADA"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>EBITDA</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>38,796</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>21,757</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>78.3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Results in equity-accounted investments</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(341)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,209)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(71.8)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; background-color: #DBDBDB"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Impairment</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">167</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">180</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7.2)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Reclassification of comprehensive income (loss) due to the disposal of equity-accounted investments</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&#8722;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">34</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&#8722;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; background-color: #DBDBDB"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Results on disposal/write-offs of assets and on remeasurement of investment retained with loss of control </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(846)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(106)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">698.1</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Results from co-participation agreements in bid areas</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,872)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&#8722;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&#8722;</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Adjusted EBITDA</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>34,904</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>20,656</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>69.0</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income taxes</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(9,875)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,103)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">140.7</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Allowance (reversals) for credit loss on trade and other receivables</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">39</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade and other receivables, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">57</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(735)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Inventories</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,034)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,579)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">28.8</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade payables</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(141)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">340</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Deferred income taxes, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,989</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,883</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(48.8)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Taxes payable</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,803</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,344</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(23.1)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Others</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,938)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,735)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(29.1)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net cash provided by operating activities &ndash; OCF</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>24,804</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>18,067</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>37.3</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 11 -->
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    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-indent: 1cm"><B><A NAME="a_014"></A>LTM EBITDA, LTM Adjusted EBITDA, LTM Net cash
provided by operating activities &ndash; OCF</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="background-color: #006298; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 12pt; color: white"><B><SUP>US$ million</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Last twelve months (LTM) at</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: #DADADA">
    <TD STYLE="width: 48%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">06.30.2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">12.31.2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Jul-Sep/2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Oct-Dec/2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Jan-Mar/2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Apr-Jun/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Net income </FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">31,319</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">19,986</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">5,954</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">5,676</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">8,648</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">11,041</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DADADA">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Net finance (expense) income </FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">9,948</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">10,966</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">4,862</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">2,484</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(596)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,198</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Income taxes</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">14,011</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">8,239</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,867</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">2,269</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">4,566</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">5,309</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DADADA">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Depreciation, depletion and amortization</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">12,647</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">11,695</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,108</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">2,909</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,170</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,460</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>EBITDA</B></FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">67,925</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">50,886</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">15,791</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">13,338</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">15,788</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">23,008</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DADADA">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Results in equity-accounted investments</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(739)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,607)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(291)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(107)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(350)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Impairment</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(3,203)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(3,190)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(3,098)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(272)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">168</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DADADA">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Reclassification of comprehensive income (loss) due to the disposal of equity-accounted investments</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">7</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">41</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">7</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Results on disposal/write-offs of assets and on remeasurement of investment retained with loss of control </FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,684)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,944)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(119)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,719)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(476)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(370)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Results from co-participation agreements in bid areas</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(3,503)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(631)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(667)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">36</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,872)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>Adjusted EBITDA</B></FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">57,803</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">43,555</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">11,623</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">11,276</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">14,961</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">19,943</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Income taxes</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(14,011)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(8,239)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,867)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,269)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(4,566)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(5,309)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Allowance (reversals) for credit loss on trade and other receivables</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">13</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(30)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(10)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(16)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">21</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Trade and other receivables, net</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,283)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,075)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(752)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(588)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">641</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(584)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Inventories</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,789)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,334)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(585)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(170)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,917)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(117)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Trade payables</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">592</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,073</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">510</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">223</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(138)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(3)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Deferred income taxes, net</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">2,164</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">4,058</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">115</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">60</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,961</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">28</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Taxes payable</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">4,337</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">4,878</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,161</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,373</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,260</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">543</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,298)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(3,095)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">333</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(693)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,915)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(23)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>Net cash provided by operating activities &ndash; OCF</B></FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">44,528</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">37,791</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">10,528</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">9,196</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">10,308</FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">14,496</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt"><B>&nbsp;</B></P>


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    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 6pt; text-indent: 1cm"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Calibri,sans-serif; margin: 0 0 6pt; text-indent: 1cm">&nbsp;</P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 6pt; text-indent: 1cm"><B><A NAME="a_015"></A>Gross Debt/LTM Adjusted EBITDA and Net Debt/LTM
Adjusted EBITDA Metrics </B></P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">The Gross Debt/LTM Adjusted EBITDA ratio and Net
debt/LTM Adjusted EBITDA metrics are important metrics that support our management in assessing the liquidity and leverage of Petrobras
Group. These ratios are important measures for management to assess the Company&rsquo;s ability to pay off its debt, mainly because Gross
Debt is a Top Metric of our Strategic Plan 2022-2026.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">The following table presents the reconciliation
for those metrics to the most directly comparable measure derived from IFRS captions, which is in this case the Gross Debt Net of Cash
and Cash Equivalents/Net Cash provided by operating activities ratio:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: #006298; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 12pt; color: white"><B><SUP>US$ million</SUP></B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 80%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">06.30.2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">12.31.2021</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">16,287</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">10,467</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Government securities and time deposits (maturity of more than three months)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,855</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">650</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Adjusted Cash and Cash equivalents</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>19,142</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>11,117</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Finance debt</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">31,051</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">35,700</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Lease liability</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">22,526</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">23,043</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Current and non-current debt - Gross Debt</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>53,577</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>58,743</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net debt</B></FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>34,435</B></FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>47,626</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net cash provided by operating activities - LTM OCF</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>44,528</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37,791 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income taxes</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">14,011</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,239 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Allowance (reversals) for impairment of trade and other receivables</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(13)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade and other receivables, net</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,283</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,075 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Inventories</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,789</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,334 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade payables</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(592)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,073)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Deferred income taxes, net</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,164)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,058)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Taxes payable</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,337)</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,878)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Others</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,298</FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,095 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>LTM Adjusted EBITDA</B></FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>57,803</B></FONT></TD>
    <TD STYLE="border-top: #1F497D 1pt solid; border-bottom: #1F497D 1.5pt outset; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43,555 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Gross Debt net of cash and cash equivalents/LTM OCF ratio</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>0.84</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>1.28</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Gross Debt/LTM Adjusted EBITDA ratio</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>0.93</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>1.35</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net debt/LTM Adjusted EBITDA ratio</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>0.60</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>1.09</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>



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<P STYLE="font: 12pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify"><B><A NAME="a_016"></A>RESULTS BY OPERATING BUSINESS SEGMENTS</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt"><B><A NAME="a_017"></A>Exploration and Production (E&amp;P)</B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>Financial information</B></P>

<P STYLE="font: 6pt Petrobras Sans,sans-serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border-left: white 1pt solid; font: 11pt Calibri,sans-serif; border-bottom: #006298 1pt solid; border-right: white 1pt solid"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Sales revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">41,624</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">25,175</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">65.3</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gross profit</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; background-color: white; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">25,772</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; background-color: white; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">14,335</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">79.8</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income (Expenses)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,486</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(979)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&#8722;</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Operating income </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; background-color: white; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">28,258</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; background-color: white; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">13,356</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">111.6</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net income attributable to the shareholders of Petrobras</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,758</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8,873</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">111.4</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Average Brent crude (US$/bbl)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>107.59</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>64.86</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>65.9</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Sales price &ndash; Brazil</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average Crude oil (US$/bbl) </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>100.24</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>61.45</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>63.1</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Production taxes &ndash; Brazil</B></FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>8,100</B></FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>4,991</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">62.3</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Royalties</FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,388</FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,546</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">72.3</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Special Participation</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,688</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,427</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">51.9</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Retention of areas</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">24</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">33.3</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; color: white"><FONT STYLE="background-color: yellow"><B><SUP>[1]</SUP></B></FONT></P>

<P STYLE="font: 10pt/107% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">In the period Jan-Jun/2022, the gross profit
of E&amp;P segment was US$ 25,772 million, an increase of 79.8% in relation to the period Jan-Jun/2021, due to higher sales revenues,
which reflect mainly higher Brent prices.</P>

<P STYLE="font: 10pt/107% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">The operating income of US$ 28,258 million
in the period Jan-Jun/2022 was mainly due to the increase in Brent prices, the gain from the co-participation agreement in Sepia and Atapu
fields, and the gain with sale of Alagoas and Rec&ocirc;ncavo Clusters.</P>

<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">In the period Jan-Jun/2022, the increase in
production taxes was caused primarily by the rise in Brent prices, in relation to the Jan-Jun/2021 period.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 6pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>Operational information </B></P>

<P STYLE="font: 6pt Petrobras Sans,sans-serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Production in thousand barrels of oil equivalent per day (mboed)</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Crude oil, NGL and natural gas &ndash; Brazil</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,686 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,737</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.9)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-left: 10pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Crude oil and NGL (mbbl/d)</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,172 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,211</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.8)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-left: 10pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Natural gas (mboed)</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">514</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">525</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2.1)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Crude oil, NGL and natural gas &ndash; Abroad</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">38 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">44</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(13.6)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006299 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total (mboed)</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>2,724</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>2,781</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(2.0)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Production of crude oil, NGL and natural gas
was 2,724 mboed in the period Jan-Jun/2022, representing a 2.0% reduction compared to Jan-Jun/2021, due to the natural decline of fields,
maintenance schedules with more stoppages in the period Jan-Jun/2022, and co-participation agreements in B&uacute;zios and divestments.
This being partially offset by the ramp up of FPSO Carioca (S&eacute;pia field), P-67 (Tupi field), P-68 (Berbig&atilde;o and Sururu fields),
P-70 (Atapu field) and start of production in the FPSO Guanabara (Mero field).</P>

<P STYLE="font: 10pt Courier New; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B><A NAME="a_018"></A>Refining, Transportation and Marketing</B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>Financial information</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border-left: white 1pt solid; font: 11pt Calibri,sans-serif; border-bottom: #006298 1pt solid; border-right: white 1pt solid"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Sales revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">56,641</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">32,980</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">71.7</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gross profit</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8,307</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,406</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">88.5</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income (Expenses)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,380)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(921)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">49.8</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Operating income </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6,927</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,485</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">98.8</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net income attributable to the shareholders of Petrobras</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,748</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,928</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">62.2</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average refining cost (US$&nbsp;/ barrel) &ndash; Brazil</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1.81</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1.62</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">11.7</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average domestic basic oil products price (US$/bbl)</FONT></TD>
    <TD STYLE="border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">120.04</FONT></TD>
    <TD STYLE="border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">70.17</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">71.1</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><BR>
For the period Jan-Jun/2022, Refining, Transportation and Marketing gross profit was US$ 3,901 million higher than in the period Jan-Jun/2021
due to the higher margins of diesel, gasoline and jet fuel, according to the elevation on international margins, and also due to the positive
effect of appreciation of Brent prices which resulted in an increase of gross profit margin as inventory was purchased earlier, at lower
prices.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">The operating income for the period Jan-Jun/2022 reflects
higher gross profit partially offset by an increase of sales expenses related to fuel oil, and higher expenses with lawsuits and the Lubnor
refinery impairment.</P>

<P STYLE="font: 10pt Courier New; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">The refining cost in the period Jan-Jun/2022 was US$ 1.81/bbl,
11.7% higher than in the period Jan-Jun/2021, due to an increase in maintenance of our refining park in the last period focused on improving
the reliability of our industrial operations and to the effects of a stronger real in comparison to the US dollar. An increase in the
utilization level of our refineries partially offset these effects.</P>

<P STYLE="font: 6pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>Operational information </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Thousand barrels per day (mbbl/d)</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Total production volume </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,749 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,781</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.8)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Domestic sales volume</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,707 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,713</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(0.4)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Reference feedstock</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,897 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,176</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(12.8)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Refining plants utilization factor (%)</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">88 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">79</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">9.0</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Processed feedstock (excluding NGL)</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">86</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">77</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">9.0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Processed feedstock</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,675 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,710</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2.0)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Domestic crude oil as % of total </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">91</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">91</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><BR>
Domestic sales in the period Jan-Jun/2022 were 1,707 mbbl/d, a decrease of 0.4% compared to Jan-Jun/2021, mainly due to the reduction
in the Diesel, Fuel Oil and Liquefied Petroleum Gas sales between periods, partially offset by higher sales of Gasoline, Naphtha and Jet
Fuel.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Diesel and Liquefied Petroleum Gas had 5.3% and 10.0%
reduction in sales volume in Jan-Jun/2022, respectively, compared to Jan-Jun/2021, mainly due the impact of the divestment of the RLAM
refinery on November 30, 2021.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Fuel Oil sales decreased 46.7% due to lower demand for
thermoelectric generation and due the impact of the divestment of RLAM refinery.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Gasoline sales grew 6.6% due to the increase in the share
of gasoline over hydrated ethanol in flex-fuel vehicles since the price relationship led consumer&rsquo;s preference for the former, and
to the negative effect of COVID-19 on sales in the period Jan-Jun/2021, resulting from the restrictive measures associated with the pandemic.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Jet Fuel sales increased 51.2% mainly due to the negative
effect of COVID-19 on the aviation market in the period Jan-Jun/2021, resulting from the restrictive measures associated with the pandemic.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Naphtha sales were 16,3% higher due to the stoppage at
Braskem's S&atilde;o Paulo plant in April and May 2021.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Total production of oil products for the period Jan-Jun/2022
was 1,749 mbbl/d, 1.8% below Jan-Jun/2021. Even though we have had a reduction in the volume produced due to the divestment of RLAM, it
was partially compensated by increased output of our main refineries.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">Processed feedstock for the period Jan-Jun/2022 was 1,675
mbbl/d, with a utilization factor of 88%, 9.0% above Jan-Jun/2021.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Petrobras Sans,sans-serif; margin: 0 0 10pt"><B><A NAME="a_019"></A>Gas and Power </B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>Financial information</B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border-left: white 1pt solid; font: 11pt Calibri,sans-serif; border-bottom: #006298 1pt solid; border-right: white 1pt solid"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Sales revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">7,099</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,862</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">46.0</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gross profit</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,848</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,870</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.2)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Income (expenses)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,705)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,411)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">20.8</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Operating income (loss)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">143</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">459</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(68.8)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net income (loss) attributable to the shareholders of Petrobras</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">101</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">330</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(69.4)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average natural gas sales price &ndash; Brazil (US$/bbl)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">63.00</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">38.37</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">64.2</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">In Jan-Jun/2022, the gross profit of the Gas and Power
segment was US$1,848 million, a stable result when compared to Jan-Jun/2021,&nbsp;mainly due to the recovery in the gas margin, offset
by lower volume and lower price on power generation. Although the recovery of hydroelectric reservoirs has negatively impacted gas sales
volume, thermoelectric generation and power generation price, the increase in the Brent oil price and better gas sales portfolio was responsible
for the improvement in gas margins.</P>

<P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">In Jan-Jun/2022, despite the efforts to rebalance the
natural gas portfolio, the operating income was lower by US$ 316 million compared to Jan-Jun/2021, mainly due to higher sales expenses
resulting from the annual adjustment of natural gas transportation tariffs and higher costs of legal proceedings.</P>

<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>Operational information </B></P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 67%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2021</B></FONT></TD>
    <TD STYLE="width: 9%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Change (%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Sale of Thermal Availability at Auction (ACR)- Average MW</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,054 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,458</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(16.4)</FONT></TD></TR>
  <TR>
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Electricity generation - average MW </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,160 </FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,082</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(62.4)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">National gas delivered - million m&sup3;/day</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">36</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">44</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(18.2)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Regasification of liquefied natural gas - million m&sup3;/day</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(55.6)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Import of natural gas from Bolivia - million m&sup3;/day</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">20</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(10.0)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #006298 1pt solid; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Natural gas sales and for internal consumption - million m&sup3;/day</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">61</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">82</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(25.6)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Calibri,sans-serif; margin: 0 0 6pt; text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif">In
Jan-Jun/2022, electricity generation was 1,160 MW on average, a reduction of 62.4% compared to Jan-Jun/2021, mainly due to the increase
in the levels of hydroelectric plants reservoirs, which reduces demand for the electricity generated by the Gas and Power segment. Also,
in the same period of comparison, there was a 16.4% reduction in the sales volume of thermal availability at auction, mainly due to the
divestment of fuel oil plants in the Northeast</FONT>.</P>

<P STYLE="font: 10pt/115% Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">On the supply side, the delivery of domestic
gas was reduced to 36 MM m&sup3;/day, mainly because of the expiration of the terms of Petrobras' purchase contracts with partners and
third parties, which began to sell their gas directly to their customers, and due to divestments in E&amp;P in the Northeast. Additionally,
there was a reduction of 10 MMm&sup3;/day in LNG regasification volumes, primarily due to lower gas demand for thermoelectric plants.</P>

<P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

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  <TD STYLE="width: 48%">
<P STYLE="font: bold 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><A NAME="a_020"></A>GLOSSARY</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>ACL - </B><I>Ambiente de Contrata&ccedil;&atilde;o
Livre</I> (Free contracting market) in the electricity system.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>ACR - </B><I>Ambiente de Contrata&ccedil;&atilde;o
Regulada</I> (Regulated contracting market) in the electricity system.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Adjusted Cash and Cash equivalents - </B>Sum of
cash and cash equivalents, government bonds and time deposits from highly rated financial institutions abroad with maturities of more
than 3 months from the date of acquisition, considering the expected realization of those financial investments in the short-term. This
measure is not defined under the International Financial Reporting Standards &ndash; IFRS and should not be considered in isolation or
as a substitute for cash and cash equivalents computed in accordance with IFRS. It may not be comparable to adjusted cash and cash equivalents
of other companies, however management believes that it is an appropriate supplemental measure to assess our liquidity and supports leverage
management.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>Adjusted EBITDA </B>Net income plus net finance income
(expense); income taxes; depreciation, depletion and amortization; results in equity-accounted investments; impairment; reclassification
of comprehensive income (loss) due to the disposal of equity-accounted investments; results on disposal/write-offs of assets and on remeasurement
of investment retained with loss of control; and results from co-participation agreements in bid areas. Adjusted EBITDA is not a measure
defined by IFRS and it is possible that it may not be comparable to similar measures reported by other companies. However, management
believes that it is an appropriate supplemental measure to assess our liquidity and supports leverage management.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>ANP - </B>Brazilian National Petroleum, Natural
Gas and Biofuels Agency.</P>

<P STYLE="font: 8pt/115% Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Capital Expenditures &ndash;</B> Capital
expenditures based on the cost assumptions and financial methodology adopted in our Business and Management Plan, which include acquisition
of PP&amp;E, including expenses with leasing, intangibles assets, investment in investees and other items that do not necessarily qualify
as cash flows used in investing activities, primarily geological and geophysical expenses, research and development expenses, pre-operating
charges, purchase of property, plant and equipment on credit and borrowing costs directly attributable to works in progress.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>CTA</B> &ndash; Cumulative translation adjustment
&ndash; The cumulative amount of exchange variation arising on translation of foreign operations that is recognized in Shareholders&rsquo;
Equity and will be transferred to profit or loss on the disposal of the investment.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>EBITDA</B> - net income before net finance income (expense),
income taxes, depreciation, depletion and amortization. EBITDA is not a measure defined by IFRS and it is possible that it may not be
comparable to similar measures reported by other companies. However, management believes that it is an appropriate supplemental measure
to assess our liquidity and supports leverage management.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Effect of average cost in the Cost of Sales</B>
&ndash; In view of the average inventory term of 60 days, the crude oil and oil products international prices movement, as well as foreign
exchange effect over imports, production taxes and other factors that impact costs, do not entirely influence the cost of sales in the
current period, having their total effects only in the following period.</P></TD>
  <TD STYLE="width: 4%">&nbsp;</TD>
  <TD STYLE="width: 48%">
<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Free Cash Flow -</B> Net cash provided by operating
activities less acquisition of PP&amp;E and intangibles assets (except for signature bonus, including the bidding for oil surplus of the
Transfer of Rights Agreement, paid for obtaining concessions for exploration of crude oil and natural gas). Free cash flow is not defined
under the IFRS and should not be considered in isolation or as a substitute for cash and cash equivalents calculated in accordance with
IFRS. It may not be comparable to free cash flow of other companies. However, management believes that it is an appropriate supplemental
measure to assess our liquidity and supports leverage management.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify"><B>Gross Debt</B> &ndash; Sum of current and non-current
finance debt and lease liability, this measure is not defined under the IFRS.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Leverage &ndash; </B>Ratio between the Net Debt
and the sum of Net Debt and Shareholders&rsquo; Equity. Leverage is not a measure defined in the IFRS and it is possible that it may not
be comparable to similar measures reported by other companies, however management believes that it is an appropriate supplemental measure
to assess our liquidity.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Lifting Cost -</B> Crude oil and natural gas lifting
cost indicator, which considers expenditures occurred in the period.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>LTM Adjusted EBITDA</B> &ndash; Adjusted EBITDA
for the last twelve months.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>OCF - </B>Net Cash provided by (used in) operating
activities (operating cash flow)</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Operating income (loss) - </B>Net income (loss)
before finance income (expense), results in equity-accounted investments and income taxes.</P>

<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0 0 3pt; text-align: justify"><B>Net Debt &ndash; </B>Gross Debt less Adjusted
Cash and Cash Equivalents. Net debt is not a measure defined in the IFRS and should not be considered in isolation or as a substitute
for total long-term debt calculated in accordance with IFRS. Our calculation of net debt may not be comparable to the calculation of net
debt by other companies. Management believes that net debt is an appropriate supplemental measure that helps investors assess our liquidity
and supports leverage management.</P>
    <P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>Results by Business Segment &ndash;</B> The information
    by the company's business segment is prepared based on available financial information that is directly attributable to the segment or
    that can be allocated on a reasonable basis, being presented by business activities used by the Executive Board to make resource allocation
    decisions and performance evaluation.</P>
    <P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">When calculating segmented results, transactions with third
    parties, including jointly controlled and associated companies, and transfers between business segments are considered. Transactions between
    business segments are valued at internal transfer prices calculated based on methodologies that take into account market parameters, and
    these transactions are eliminated, outside the business segments, for the purpose of reconciling the segmented information with the consolidated
    financial statements of the company.</P></TD></TR>
</TABLE>

<P STYLE="font: 7.5pt Petrobras Sans,sans-serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 14.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Date:&nbsp;August 11, 2022</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>PETR&Oacute;LEO BRASILEIRO S.A&ndash;PETROBRAS<BR>
<BR>
</B>By: /s/&nbsp;<FONT STYLE="color: #222222; background-color: white">Rodrigo Araujo Alves</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">______________________________</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; color: #222222"><FONT STYLE="background-color: white">Rodrigo Araujo Alves</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Chief Financial Officer and Investor Relations
Officer</P>

<P STYLE="font: 11pt/12.65pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Petrobras Sans,sans-serif; margin: 0 0 8pt">&nbsp;</P>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
