<SEC-DOCUMENT>0001292814-23-003654.txt : 20230818
<SEC-HEADER>0001292814-23-003654.hdr.sgml : 20230818
<ACCEPTANCE-DATETIME>20230818160508
ACCESSION NUMBER:		0001292814-23-003654
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230630
FILED AS OF DATE:		20230818
DATE AS OF CHANGE:		20230818

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:		231185872

	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>pbr20230818_6k1.htm
<DESCRIPTION>6-K
<TEXT>
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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, 2023</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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    <P STYLE="font: 36pt Arial,sans-serif; margin: 0; color: #006298"><B>&nbsp;</B></P>
    <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/2023</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>
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<P STYLE="font: 11pt Calibri,sans-serif; margin: 0 0 10pt">&nbsp;</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 11pt 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 Petrobras Sans,sans-serif; margin: 0 0 10pt"><B>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; padding-right: 3.5pt; padding-left: 3.5pt; 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%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 22pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_006">Net finance (expense) income</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 22pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><A HREF="#a_012">RECONCILIATION OF EBITDA, LTM EBITDA, LTM ADJUSTED EBITDA, GROSS DEBT/ LTM ADJUSTED EBITDA AND NET DEBT/LTM ADJUSTED EBITDA METRICS</A></P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-left: 17.55pt; text-align: justify; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_013">EBITDA, Adjusted EBITDA and Net cash provided by operating activities &ndash; OCF</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-left: 17.55pt; 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; padding-left: 17.55pt; text-align: justify; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif"><A HREF="#a_014">LTM EBITDA, LTM Adjusted EBITDA, LTM Net cash provided by operating activities &ndash; OCF</A></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-left: 17.55pt; 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; padding-left: 17.55pt; text-align: justify; 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; padding-left: 17.55pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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: 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$/US$ 5.07 in Jan-Jun/2023 compared to R$/US$ 5.08 in Jan-Jun/2022).</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: 65%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 13%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 9%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">49,750</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19.6)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(24,000)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(14.3)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">25,750</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(24.0)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(5,719)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">179.2</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">13,169</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(32.9)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19,989</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19.4)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">25,392</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(27.3)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">79.83</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(25.8)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">102.62</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(14.5)</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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>06.30.2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>12.31.2022</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">57,971</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">53,799</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">7.8</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">42,177</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">41,516</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1.6</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">1.02</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">0.81</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">25.8</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">0.74</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">0.63</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman,serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black">17.5</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; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; padding-right: 3pt; padding-left: 3pt; 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; background-color: #006299; padding-right: 3pt; padding-left: 3pt">
    <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; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Diesel</FONT></TD>
    <TD STYLE="background-color: #DADADA; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">15,387</FONT></TD>
    <TD STYLE="background-color: #DADADA; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,164</FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(15.3)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gasoline</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">7,469</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8,034</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7.0)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Liquefied petroleum gas (LPG)</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,880</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,623</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(28.3)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Jet fuel</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,508</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,391</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4.9 </FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Naphtha</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">908</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,335</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(32.0)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; 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="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">547</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">718</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(23.8)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other oil products</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,212</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,889</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(23.4)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Subtotal Oil Products</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>30,911</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>36,154</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(14.5)</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,955</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,684</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19.8)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Crude oil</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,715</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,443</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(38.9)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">46</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">161</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(71.4)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; 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="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">438</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">274</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">59.9 </FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Electricity</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">263</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">402</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(34.6)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Services, agency and others</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">525</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">545</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(3.7)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>37,853</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>45,663</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(17.1)</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Exports </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">11,172</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">14,924</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(25.1)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8,456</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">10,405</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(18.7)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; 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="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,363</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,161</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(43.2)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Other oil products and other products</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">353</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">358</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.4)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Sales abroad *</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">725</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,305</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(44.4)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>11,897</B></FONT></TD>
    <TD STYLE="border-top: #006299 1pt solid; border-bottom: #006299 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>16,229</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(26.7)</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006299 1pt solid; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: black"><B>49,750</B></FONT></TD>
    <TD STYLE="border-bottom: #006299 1pt solid; padding-right: 3pt; padding-left: 3pt; 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: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(19.6)</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 73%; padding-right: 3pt; padding-left: 3pt">
    <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: 10%; padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 3pt; padding-left: 3pt; font: 10pt Times New Roman,serif">&nbsp;</TD>
    </TR>
  </TABLE>


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<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Sales revenues were US$ 49,750 million for the
period Jan-Jun/2023, a 19.6% decrease (US$ 12,142 million) when compared to US$ 61,892 million for the period Jan-Jun/2022, mainly due
to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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$&nbsp;5,243 million decrease
in domestic market oil products revenues, composed of a US$ 5,264 million decrease which relates to a decrease in average prices, partially
offset by a US$ 21 million increase which relates to an increase in sales volumes;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 10pt">a US$ 1,949 million decrease in
exported crude oil revenues, composed of a US$ 2,608 million decrease which relates to a decrease in average Brent prices, partially offset
by a US$ 659 million increase which relates to an increase in sales volumes;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 10pt">a US$ 1,798 million decrease in
exported fuel oil revenues, of which US$ 1,147 million relates to a decrease in sales volumes, and US$ 651 million related to a decrease
in average prices; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 10pt">a US$ 1,728 million decrease in
domestic market crude oil revenues, of which US$ 1,023 million relates to a decrease in average Brent prices and US$ 705 million related
to a decrease in sales volumes.</FONT></TD></TR></TABLE>

<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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</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; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt">
    <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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(12,782)</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; background-color: #D9D9D9; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; width: 9%; background-color: #D9D9D9; padding-right: 3.5pt; padding-left: 3.5pt; 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>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,952)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7.3)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: #D9D9D9; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(5,477)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; background-color: #D9D9D9; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(32.3)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(789)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(3.0)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; background-color: #D9D9D9; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(24,000)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; background-color: #D9D9D9; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(14.3)</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 Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Cost of sales was US$ 24,000 million for the period
Jan-Jun/2023, a 14.3% decrease (US$ 4,019 million) when compared to US$ 28,019 million for the period Jan-Jun/2022, mainly due to lower
production taxes due to lower Brent prices.</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: 64%; border-top: white 1pt solid; border-right: white 1pt solid; border-left: white 1pt solid; border-bottom: #006299 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 14%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 9%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006299 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <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="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,421)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(0.2)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(745)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19.8</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(348)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">182.9</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(326)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(23.5)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(529)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">248.0</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(404)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">141.9</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(946)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(5,719)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #006299 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>179.2</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 4pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Selling expenses were US$ 2,421 million for the
period Jan-Jun/2023, a 0.2% decrease (US$ 4 million) compared to US$&nbsp;2,425 million for the period Jan-Jun/2022, mainly due to lower
logistical expenses due to the decrease in sales volumes of crude oil in the domestic market and fuel oil exported, partially compensated
by the increase in crude oil export volumes.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">General and administrative expenses were US$ 745
million for the period Jan-Jun/2023, a 19.8% increase (US$&nbsp;123 million) compared to US$ 622 million for the period Jan-Jun/2022,
mainly due to higher expenses with licenses related to cybersecurity and inflation.&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Exploration costs were US$ 348 million for the
period Jan-Jun/2023, a 182.9% increase (US$&nbsp;225 million) compared to US$ 123 million for the period Jan-Jun/2022, mainly due to geological
and geophysical expenses in the Brazilian Equatorial Margin region in order to obtain an environmental license in 2023.</P>


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<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Other taxes were US$ 529 million for the period
Jan-Jun/2023, a 248.0% increase (US$&nbsp;377 million) compared to US$&nbsp;152&nbsp;million for the period Jan-Jun/2022, mainly due to
a 9.2% extraordinary taxation over exports of crude oil, pursuant to Provisional Measure No. 1,163/2023. This extraordinary taxation is
temporary and only applicable for the period March to June 2023.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Impairment of assets were US$ 404 million for the
period Jan-Jun/2023, a 141.9% increase (US$&nbsp;237 million) compared to US$ 167 million for the period Jan-Jun/2022, mainly arising
from the assessment of the second refining unit of RNEST, which resulted in the recognition of a US$ 383 loss, mainly due to: (i) an increase
in projected necessary investments following the review of the scope for implementation of logistics infrastructure, ; (ii) increase in
the discount rate to 7.4% p.a. (from 7.1% p.a. as of December 31, 2022); and (iii) appreciation of the real against the dollar on estimated
future cash flows.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Other income and expenses, net presented a US$
946 million expense in Jan-Jun/2023, a US$ 2,813 million change to the US$ 1,867 million income presented in Jan-Jun/2022, mainly due
to the US$ 2,872 million income with the financial compensation from the co-participation agreements in bid areas (S&eacute;pia and Atapu
fields) occurred in Jan-Jun/2022.</P>

<P STYLE="font: 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B><A NAME="a_006"></A>Net finance (expense) income </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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 12%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; padding-right: 3pt; padding-left: 3pt; 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: 9%; border-right: white 1pt solid; background-color: #006299; padding-right: 3pt; padding-left: 3pt">
    <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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>981</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #006298 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>11.4 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">757</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">42.3 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other finance income</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">224</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(35.8)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(1,712)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(0.2)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,053)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(13.9)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(758)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">21.5 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">589</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">10.1 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(431)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">61.4 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other finance expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(59)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">118.5 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>88</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Foreign exchange gains (losses), net </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,320</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">197.1 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,232)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(10.3)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Monetary restatement of anticipated dividends and dividends payable </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(429)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(280)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">53.2 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">95</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">111.1 </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 9pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Other foreign exchange gains and indexation charges, net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">334</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">175</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">90.9 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(643)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(75.3)</B></FONT></TD></TR>
  </TABLE>
<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$ 643
million for the period Jan-Jun/2023, a decrease of US$ 1,959 million compared to an expense of US$ 2,602 million for the period Jan-Jun/2022,
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 gain of US$ 2,320 million in Jan-Jun/2023,
as compared to a US$ 781 million gain in Jan-Jun/2022 reflecting a 7.6% appreciation of the real/US$ exchange rate in Jan-Jun/2023 (06/30/2023:
R$ 4.82/US$, 12/31/2022: R$ 5.22/US$) compared to a 6.1% appreciation in Jan-Jun/2022 (06/30/2022: R$ 5.24/US$, 12/31/2021: R$ 5.58/US$),
which applied to a higher average net liability exposure to the US$ during Jan-Jun/2023 than in Jan-Jun/2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt 14.2pt; text-align: justify"></P>

<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$ 6,172 million in Jan-Jun/2023,
compared to an expense of US$ 9,875 million in Jan-Jun/2022. The decrease was mainly due to lower net income before income taxes (US$
19,401 million of income in Jan-Jun/2023 compared to a US$ 29,564 million income in Jan-Jun/2022), resulting in nominal income taxes computed
based on Brazilian statutory corporate tax rates (34%) of US$ 6,597 million in Jan-Jun/2023 compared to a US$ 10,051 million in Jan-Jun/2022.</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 US$ 13,169 million for the period Jan-Jun/2023, a US$&nbsp;6,446 million decrease compared to a net income attributable to shareholders
of Petrobras of US$ 19,615 million for the period Jan-Jun/2022, as explained above, mainly due to lower Brent prices reflected in our
Gross profit (US$ 25,750 million in Jan-Jun/2023 compared to US$ 33,873 million in Jan-Jun/2022) and higher expenses (US$ 5,719 million
of expenses in Jan-Jun/2023 compared to a US$ 2,048 million expenses in Jan-Jun/2022).</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 11pt">
  <TR>
    <TD STYLE="width: 57%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #006299; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>CAPEX (US$&nbsp;million)</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; padding-right: 3pt; padding-left: 3pt; 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: 13%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #006299; padding-right: 3pt; padding-left: 3pt; 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: #DBDBDB; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Exploration and Production (*)</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,785</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><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: #DADADA; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">23.0</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Refining, Transportation and Marketing</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">707</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">526</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">34.4</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Gas and Power</FONT></TD>
    <TD STYLE="background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">76</FONT></TD>
    <TD STYLE="background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">186</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DADADA; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(59.1)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Corporate and Other businesses</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">155</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">240</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(35.4)</FONT></TD></TR>
  <TR STYLE="background-color: #DADADA">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Total </B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>5,723</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>4,841</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>18.2</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">(*) In Jan-Jun/2023, there is US$ 146 million of signature
bonuses related to the Sudoeste de Sagit&aacute;rio, &Aacute;gua Marinha and Norte de Brava Blocks. In Jan-Jun/2022, there is US$ 840
million 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$&nbsp;5,723 million in Jan-Jun/2023,
of which 83.6% was in the E&amp;P segment, a 18.2% increase when compared to our Capital Expenditures of US$&nbsp;4,841 million in Jan-Jun/2022.
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/2023, Capital expenditures in the E&amp;P segment
totaled US$&nbsp;4,785 million, a 23.0% increase when compared to US$&nbsp;3,889 million in Jan-Jun/2022, mainly due to the development
of large projects, especially the progress in the construction and integration of FPSOs in B&uacute;zios, in addition to higher exploratory
expenses in the pre-salt layer of Santos basin, partially offset by a decrease in signature bonuses (US$ 146 million related to Sudoeste
de Sagit&aacute;rio, &Aacute;gua Marinha and Norte de Brava blocks in Jan-Jun/2023 compared to US$ 840 million related to S&eacute;pia
and Atapu fields in Jan-Jun/2022).. Investments in Jan-Jun/2023 were mainly concentrated on: (i) the development of production in the
Santos Basin pre-salt (US$&nbsp;2,483 million); (ii) deepwater production development (US$ 752 million); (iii) exploratory investments
(US$ 345 million); and (iv) signature bonus related to the Sudoeste de Sagit&aacute;rio, &Aacute;gua Marinha and Norte de Brava blocks
(US$&nbsp;146 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 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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 12%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006298; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2022</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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>12,283</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>11,117</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Government bonds, bank deposit certificates and time deposits with maturities of more than three months at the beginning of the period </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,287)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(650)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">13</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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>7,996</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>10,480</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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19,989</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">24,804</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(5,335)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,073)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Acquisition of equity interests</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,461</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,378</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">391</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">5,213</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">69</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">242</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(468)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 20pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,108)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,899)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 20pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,633</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,090</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>27,437</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">62</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">330</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,486)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6,393)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,424)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6,063)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,862)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,682)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(10,397)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(12,429)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(48)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(58)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 20pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Changes in non-controlling interest</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(50)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(17)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(15,781)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(21,249)</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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">46</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(374)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>10,351</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>16,294</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Government bonds, bank deposit certificates and time deposits with maturities of more than three months at the end of the period &nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">5,443</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,855</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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(7)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>15,794</B></FONT></TD>
    <TD STYLE="border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>19,142</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19,989</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">24,804</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Acquisition of PP&amp;E and intangible assets</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(5,335)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(4,073)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Acquisition of equity interests</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19)</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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>14,637</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: #006298 1.5pt outset; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>20,712</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 new Shareholder
Remuneration Policy (&ldquo;Policy&rdquo;), approved in July 2023, which is the result of the equation: FCF = net cash provided by operating
activities less the sum of acquisition of PP&amp;E and intangible assets and acquisition of equity interests. For comparative purposes,
the amount of Jan-Jun/2022 has been adjusted in accordance with the new Policy.</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, 2023, the balance of Cash and cash
equivalents was US$&nbsp;10,351 million and Adjusted Cash and Cash Equivalents totaled US$&nbsp;15,794 million.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">The six-month period ended June 30, 2023 had net
cash provided by operating activities of US$ 19,989 million and positive Free Cash Flow of US$ 14,637 million. This level of cash generation,
together with proceeds from disposal of assets (divestments) of US$&nbsp;3,461 million, financial compensation from co-participation agreements
of US$ 391 million and proceeds from finance debt of US$&nbsp;62 million, were allocated to: (a) debt prepayments and to amortizations
of principal and interest due in the period of US$&nbsp;2,486 million; (b) repayment of lease liability of US$&nbsp;2,862 million; (c)
dividends paid to shareholders of Petrobras of US$ 10,397 million; (d) acquisition of PP&amp;E and intangibles assets of US$&nbsp;5,335
million; and (e) investment in marketable securities of US$ 468 million.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 12pt; text-align: justify">In the six-month period ended June 30, 2023, the
Company repaid several finance debts, in the aggregate amount of US$&nbsp;2,486 million.</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: 72%; 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: 10%; 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>06.30.2023</B></FONT></TD>
    <TD STYLE="width: 10%; 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>12.31.2022</B></FONT></TD>
    <TD STYLE="width: 8%; 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-right: 3pt; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Capital Markets</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">17,363</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">16,957</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Banking Market</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8,775</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">9,672</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(9.3)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Development banks</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">
    <P STYLE="font: 9pt Petrobras Sans,sans-serif; margin: 0; text-align: right">735</P></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">723</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1.7</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; 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="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,190</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,443</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(10.4)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 10pt; text-indent: 0.4pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Others</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">165</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">159</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3.8</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Finance debt</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>29,228</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>29,954</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(2.4)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Lease liabilities</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>28,743</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>23,845</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>20.5</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey"><B>Gross Debt</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>57,971</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>53,799</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>7.8</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Adjusted Cash and Cash Equivalents</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">15,794</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">12,283</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">28.6</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net Debt</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>42,177</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>41,516</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>1.6</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">35%</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">37%</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(5.4)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Average interest rate (% p.a.)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6.6</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1.5</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Weighted average maturity of outstanding debt (years)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">12.12</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">12.07</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">0.4</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, 2023, 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">Gross Debt increased 7.8% (US$&nbsp;4,172 million)
to US$&nbsp;57,971 million as of June 30, 2023 from US$&nbsp;53,799 million as of December 31, 2022, mainly due to the higher lease liabilities
in the period (a US$ 4,898 million increase) as a result of the entry into operation of FPSO Almirante Barroso and FPSO Anna Nery, partially
offset by lower finance debt (with a US$ 726 million decrease in the period). Gross Debt was maintained in the range between US$ 50,000
million and US$ 65,000 million target defined in the 2023-2027 Strategic Plan, mainly due to debt prepayments and amortizations.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">As of June 30, 2023, Net Debt increased by 1.6%
(US$ 661 million), reaching US$ 42,177 million, compared to US$ 41,516 million as of December 31, 2022.</P>




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<P STYLE="font: bold 11pt Petrobras Sans,sans-serif; margin: 0; text-indent: 0cm"><A NAME="a_012"></A>RECONCILIATION OF EBITDA, LTM EBITDA, 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 (expense) income, 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, results on 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 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: 64%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; border-right: white 1pt solid; background-color: #006298; padding-right: 3pt; padding-left: 3pt; 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: 11%; border-right: white 1pt solid; font: 10pt Times New Roman,serif; background-color: #006299; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">13,229</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; 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: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(32.8)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Net finance (expense) income </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">643</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(75.3)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DADADA; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6,172</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; 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: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(37.5)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6,173</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6.9)</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; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>26,217</B></FONT></TD>
    <TD STYLE="border-top: #006298 1pt solid; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>38,796</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman,serif; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(32.4)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(13)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(96.2)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Impairment of assets (reversals)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">404</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; 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: #D9D9D9; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">141.9 </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,188)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">40.4 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(28)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(99.0)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>25,392</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(27.3)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Allowance for credit loss on trade and other receivables</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">39</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(12.8)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade and other receivables</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,175</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">57</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,961.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Inventories</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,080</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,034)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade payables</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(291)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(141)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">106.4</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Taxes payable</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7,266)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(6,083)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">19.4</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Others</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(135)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,938)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(93.0)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>19,989</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(19.4)</B></FONT></TD></TR>
  </TABLE>


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<P STYLE="font: 11pt 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; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: #DBDBDB">
    <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; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">06.30.2023</FONT></TD>
    <TD STYLE="border-bottom: rgb(31,73,125) 1.5pt outset; vertical-align: bottom; width: 10%; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">12.31.2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Jul-Sep/2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Oct-Dec/2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Jan-Mar/2023</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Abr-Jun/2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Net income</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">30,295</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">36,755</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">8,790</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">8,276</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">7,370</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">5,859</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; 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="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,881</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,840</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,524</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(286)</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">622</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">21</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Income taxes</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">13,067</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">16,770</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,888</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,007</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,596</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">2,576</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; 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="border-bottom: #1F497D 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">12,761</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">13,218</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,267</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,321</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">2,924</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3,249</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; 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-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">58,004</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">70,583</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">17,469</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">14,318</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">14,512</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">11,705</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #DBDBDB; padding-right: 3pt; padding-left: 3pt; 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="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">77</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(251)</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(32)</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">122</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(35)</FONT></TD>
    <TD STYLE="background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">22</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Impairment of assets</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,552</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,315</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">255</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">893</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">401</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; 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="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,486)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,144)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(292)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(6)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(496)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(692)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; 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="border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,442)</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(4,286)</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; 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="border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,424)</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(28)</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; 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; background-color: #D9D9D9">
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; 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-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>56,705</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>66,217</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>17,410</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>13,903</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>13,956</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>11,436</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Allowance for credit loss on trade and other receivables</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; 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="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">65</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">3</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">23</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">24</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Trade and other receivables</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,473</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">355</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">672</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(374)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">412</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">763</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Inventories</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,897</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,217)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(561)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">1,378</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">989</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">91</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Trade payables</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(509)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(359)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(200)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(18)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(478)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">187</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Taxes payable</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(15,140)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(13,957)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(5,113)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,761)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(4,497)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(2,769)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">415</FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(1,387)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(147)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">697</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(59)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt">(76)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>Net cash provided by operating activities&nbsp;&nbsp;-OCF</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>44,901</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>49,717</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>12,064</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>12,848</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>10,347</B></FONT></TD>
    <TD STYLE="border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 8pt"><B>9,642</B></FONT></TD></TR>
  </TABLE>


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<P STYLE="font: 11pt 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 2023-2027.</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 COLSPAN="2" 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>US$ million</B></FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</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; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">06.30.2023</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">12.31.2022</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey">Cash and cash equivalents</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey">10,351</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey">7,996</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Government bonds, bank deposit certificates and time deposits (maturity of more than three months)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">5,443</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,287</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey"><B>Adjusted Cash and Cash equivalents</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey"><B>15,794</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; background-color: lightgrey"><B>12,283</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Finance debt</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">29,228</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">29,954</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Lease liability</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">28,743</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">23,845</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; 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 COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>57,971</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>53,799</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net Debt</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>42,177</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>41,516</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>Net cash provided by operating activities&nbsp;&nbsp;- LTM OCF</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>44,901</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>49,717</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Allowance for credit loss on trade and other receivables</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(60)</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(65)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade and other receivables</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,473)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(355)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Inventories</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,897)</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,217</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Trade payables</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">509</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">359</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Taxes payable</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">15,140</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">13,957</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Others</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(415)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #1F497D 1pt solid; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,387</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; 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 COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>56,705</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #1F497D 1.5pt outset; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>66,217</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; 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 COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>1.06</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>0.92</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; 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 COLSPAN="2" STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>1.02</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #D9D9D9; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>0.81</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; 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 COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>0.74</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>0.63</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="width: 78%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    </TR>
  </TABLE>


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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 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: 10pt">
  <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; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 11%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">30,452</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(26.8)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">17,961</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(30.3)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(677)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,481</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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;</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">17,284</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">28,253</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(38.8)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">11,443</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18,757</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(39.0)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>79.83</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(25.8)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>5,479</B></FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>8,101</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(32.4)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">&nbsp;&nbsp;&nbsp;Royalties</FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">3,163</FONT></TD>
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,388</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(27.9)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,292</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(37.9)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt 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 Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">In the period Jan-Jun/2023, gross profit for the
E&amp;P segment was US$17,961 million, a decrease of 30.3% in relation to the period Jan-Jun/2022, due to lower sales revenues, which
mainly reflect lower average Brent prices.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Operating income of US$ 17,284 million in the Jan-Jun/2023
period, a decrease of 38.8% compared to the Jan-Jun/2022 period, mainly due to the decrease in Brent prices, higher tax expenses related
to oil export operations and increased geology and geophysics costs in the Brazilian Equatorial Margin region to obtain the environmental
license. In addition to the gain from Sepia e Atapu co-participation agreement in the period Jan-Jun/2022.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">In the period Jan-Jun/2023, the decrease in production
taxes was caused primarily by the reduction in Brent prices, in relation to the Jan-Jun/2022 period.</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: 10pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 55%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 3pt; padding-left: 3pt; 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: 15%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; 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: 15%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,621</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,686</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2.4)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,121</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,172</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2.3)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">500</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">514</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2.7)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">35</FONT></TD>
    <TD STYLE="vertical-align: top; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">38</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(7.9)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006299 1pt solid; padding-right: 3pt; padding-left: 3pt; 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; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>2,656</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>2,724</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3pt; padding-left: 3pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt"><B>(2.5)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt; text-align: justify">Production of crude oil, NGL and natural gas was
2,656 mboed in the period Jan-Jun/2023, representing a 2.5% reduction compared to Jan-Jun/2022, due to co-participation agreements in
B&uacute;zios (occurred in November 2022), and in Atapu and Sepia (occurred in April 2022), in which the Company reduced its interests
in these fields, in addition to the natural decline of fields, demobilization of platforms for projects to revitalize mature fields and
divestments. This was partially offset by the ramp up of P-68 (Berbig&atilde;o and Sururu fields), FPSO Guanabara (Mero field) and P-71
(Itapu field) and start of production at FPSO Almirante Barroso (B&uacute;zios field) and FPSO Anna Nery (Marlim field), in addition to
the start of production from new wells in the Campos Basin and maintenance schedules with less stoppages in the period Jan-Jun/2023.</P>



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<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: 8pt 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: 10pt">
  <TR STYLE="background-color: #006299">
    <TD STYLE="width: 74%; border-left: white 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; border-bottom: #006298 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>US$&nbsp;million</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 8%; border-bottom: #006298 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">45,899</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19.0)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,703</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(43.4)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2,329)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,651)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">41.1 </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,374</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">6,656</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(64.3)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,511</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">4,570</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(66.9)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2.18</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">20.4 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">102.62</FONT></TD>
    <TD STYLE="border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">120.04</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #006299 1pt solid; font: 11pt Calibri,sans-serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(14.5)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt 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 the period Jan-Jun/2023, Refining, Transportation and
Marketing gross profit was US$ 3,604 million lower than in the period Jan-Jun/2022 mainly due to a decrease in international margins,
especially diesel, and to the effect of depreciation of Brent prices which resulted in a decrease of gross profit margin as realized inventory
was purchased earlier at higher prices, in contrast to the effect of the Brent price appreciation during the period Jan-Jun/2022.</P>

<P STYLE="font: 8pt Courier New; 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/2023 reflects
lower gross profit and an increase of expenses, mainly sale expenses due to higher costs with chartering ships, impairment losses related
to the RNEST refinery and expenses with compensation for the termination of a vessel charter agreement.</P>

<P STYLE="font: 8pt Courier New; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">The average refining cost in the period Jan-Jun/2023 was
US$ 2.18/bbl, 20.4% higher than in the period Jan-Jun/2022, mainly due to increased personnel and services costs following inflationary
effects. The lower volume of oil processed in the period Jan-Jun/2023 was mainly due to two significant maintenance stoppages at REFAP
and RPBC refineries, which contributed to the higher average refining cost.</P>

<P STYLE="font: 8pt 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: 62%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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: 13%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 3pt; padding-left: 3pt; 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: white 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-family: Calibri,sans-serif"><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: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Total production volume </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,730</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,749</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.1)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Domestic sales volume</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,709</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,707</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><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-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Reference feedstock</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,846</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,897</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(2.7)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Refining plants utilization factor (%)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">89%</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">88%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1.1</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Processed feedstock (excluding NGL)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,602</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,631</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><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: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Processed feedstock</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,650</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,675</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.5)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">90%</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">91%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1.1)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt 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">Domestic sales in the period Jan-Jun/2023 were 1,709
mbbl/d, an increase of 0.1% compared to Jan-Jun/2022.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">Gasoline sales volume increased 9.3% in Jan-Jun/2023
compared to Jan-Jun/2022 due to the higher competitiveness in price compared to hydrous ethanol. Jet Fuel increased 7.8% in Jan-Jun/2023
mainly due to the negative effect of COVID-19 on the aviation market in the period Jan-Jun/2022, resulting from the restrictive travel
measures associated with the pandemic.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">Naphta had a 12.6% reduction in sales volume in
Jan-Jun/2023 compared to Jan-Jun/2022 due to lower demand. Diesel and Liquefied Petroleum Gas had a 2.0% reduction in sales in Jan-Jun/2023
compared to Jan-Jun/2022 due to higher imports and production from third parties. Fuel Oil had a 2.9% reduction in sales in Jan-Jun/2023
compared to Jan-Jun/2022 due to the growth of alternative fuels and lower demand for thermoelectric generation.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">Total production of oil products for the period
Jan-Jun/2023 was 1,730 mbbl/d, 1.1% lower than Jan-Jun/2022. The lower production is mainly attributed to the divestment of REMAN at the
end of November 2022 since our remaining refineries had a steady utilization in this comparison.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 10pt">Processed feedstock for the period Jan-Jun/2023 was 1,650 mbbl/d, 1.5%
lower than Jan-Jun/2022, reflecting the two significant maintenance stoppages at REFAP and RPBC and the divestment of REMAN at the end
of November 2022.&nbsp;</P>



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<P STYLE="font: 11pt 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: 74%; border-left: white 1pt solid; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 9%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #006298 1pt solid; border-right: white 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; 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: 8%; border-bottom: #006298 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center; font-family: Calibri,sans-serif"><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="width: 74%; padding-right: 3.5pt; padding-left: 3.5pt; 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; width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">5,621</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 9%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">7,099</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(20.8)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,528</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,848</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">36.8 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,544)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(1,690)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(8.6)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Operating income (loss)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">984</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">158</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">522.8 </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; font-family: 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">635</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">477.3 </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; font-family: 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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">72.13</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><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; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">14.5</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/2023, the sales revenues reduction in relation
to Jan-Jun/2022 was due to the lower volume of natural gas sold to the thermoelectric and non-thermoelectric markets, as well as the lower
thermoelectric generation.</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">Despite the decrease in sales revenues, the gross profit
of the Gas and Power segment was US$ 2,528 million, 36.8% higher than Jan-Jun/2022,&nbsp;mainly due to lower acquisition costs for natural
gas due to lower LNG regasification.</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 addition, lower selling expenses contributed to the
higher operating income in Jan-Jun/2023, due the entry of third parties in the gas market in this period.</P>

<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>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: 62%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt; color: white"><B>Jan-Jun/2023</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: white 1pt solid; border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 3pt; padding-left: 3pt; 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: white 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-family: Calibri,sans-serif"><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: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,655</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">2,054</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(19.4)</FONT></TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">Electricity generation - average MW </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">588</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1,160</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(49.3)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">33</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">36</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(8.3)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">8</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(87.5)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">17</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">18</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(5.6)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #006298 1pt solid; font: 10pt Times New Roman,serif; padding-right: 3pt; padding-left: 3pt"><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; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">50</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">61</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #006298 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Petrobras Sans,sans-serif; font-size: 9pt">(18.0)</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 Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">In Jan-Jun/2023, electricity generation by Petrobras
decreased by 49.3% compared to Jan-Jun/2022, due to the increase in the level of hydroelectric plants` reservoirs in the country. In this
scenario, power generation was used mainly to supply Petrobras' internal steam demand, as well as for one-off opportunities to export
to Argentina. There was also a reduction in the volume of availability at auctions, due to expiration of contracts.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">The supply of national gas decreased by 8.3% compared
to Jan-Jun/2022, due to interventions in natural gas production and processing units during Jan-Jun/2023 and reduction in the volume purchased
by Petrobras from third parties, due to expiration of some purchase contracts.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">Between Jan-Jun/2023 and Jan-Jun/2022, there was
a reduction in the volume of natural gas imported (from Bolivia and LNG), due to lower demand.</P>

<P STYLE="font: 10pt Petrobras Sans,sans-serif; margin: 0 0 6pt; text-align: justify">Natural gas sales in Jan-Jun/2023 were 18% lower
than Jan-Jun/2022, due to lower demand in the thermoelectric and non-thermoelectric markets, the latter driven by lower demand in the
industrial segment in the period.</P>



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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Petrobras Sans,sans-serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 48%"><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, bank deposit certificates and time deposits 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 and
uses this measure in the calculation of Net Debt.</P>
<P STYLE="font: 8pt Petrobras Sans,sans-serif; margin: 0; text-align: justify"><B>Adjusted EBITDA </B>Net income plus net finance (expense)
income; income taxes; depreciation, depletion and amortization; results in equity-accounted investments; impairment; 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 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 Strategic Plan, which include acquisition of PP&amp;E and intangible
assets, acquisition of equity interests, as well as 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: 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 (expense)
income, 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 the sum of acquisition of PP&amp;E and intangibles assets and acquisition of equity interests. 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 EBITDA</B> &ndash;EBITDA for the last twelve
months.</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 (expense) income, 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: bold 11pt Petrobras Sans,sans-serif; margin: 0; text-align: justify">&nbsp;</P>




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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<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 18, 2023</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">Sergio Caetano Leite</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">Sergio Caetano Leite</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>
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</SEC-DOCUMENT>
