Debt move: Petrobras (NYSE: PBR) to redeem US$670,009,000 2027 notes

Rhea-AI Filing Summary

Petróleo Brasileiro S.A. – Petrobras plans to redeem US$670,009,000 of its 7.375% Global Notes due 2027 through its wholly owned subsidiary Petrobras Global Finance B.V.

The redemption is scheduled for June 26, 2026 at a price equal to the greater of 100% of principal or a make-whole amount based on the Treasury Rate plus 50 basis points, in each case plus accrued interest from January 17, 2026 to the day before the redemption date. Payment will be routed via The Bank of New York Mellon and The Depositary Trust Company, and interest will stop accruing after the redemption. The notes and Petrobras’s related guaranty will be cancelled, with PGF funding the transaction using available cash on hand.

Insights

Credit analyst

Petrobras is retiring a sizable 7.375% 2027 bond using cash on hand.

Petrobras, via Petrobras Global Finance B.V., will redeem US$670,009,000 of 7.375% Global Notes due 2027 on June 26, 2026. The price will be the greater of 100% of principal or a make-whole amount based on the Treasury Rate plus 50 basis points, plus accrued interest.

Using available cash on hand to fund the redemption suggests management is comfortable deploying liquidity to retire this higher-coupon debt. The notes and related guaranty will be cancelled, fully extinguishing these obligations after the redemption date.

Actual economic impact depends on prevailing Treasury yields when the make-whole amount is calculated three business days before June 26, 2026. Subsequent filings may provide more detail on changes in interest expense and debt composition following completion of this transaction.

Key Figures

Notes redeemed: US$670,009,000 principal Coupon rate: 7.375% Redemption date: June 26, 2026 +2 more

5 metrics

Notes redeemed US$670,009,000 principal Aggregate principal amount of 7.375% Global Notes due 2027 to be redeemed

Coupon rate 7.375% Interest rate on Petrobras Global Notes due 2027

Redemption date June 26, 2026 Scheduled redemption date for the 7.375% Global Notes due 2027

Make-whole spread 50 basis points Spread over Treasury Rate used to calculate make-whole amount

Accrual start for redemption interest January 17, 2026 Date from which interest is accrued to the redemption date

Key Terms

Make-Whole Amount, Treasury Rate, Business Day, Depositary Trust Company, +1 more

5 terms

Make-Whole Amount financial

"at the Treasury Rate plus 50 basis points (the “Make-Whole Amount”)"

A make-whole amount is the cash payment a borrower must give investors when it pays off a bond or loan early, designed to compensate them for lost future interest. Think of it like an early-termination fee that equals the current value of the remaining scheduled payments (often calculated using a set interest rate) so investors are put “made whole”; it matters because it changes how costly early refinancing is and affects bond values and investor returns.

Treasury Rate financial

"discounted to the Redemption Date ... at the Treasury Rate plus 50 basis points"

The treasury rate is the interest yield governments pay when they borrow by issuing debt securities; it represents the baseline cost of money set by a sovereign issuer. Investors use it as a benchmark because it helps value other investments, sets borrowing costs across the economy, and signals confidence in public finances—think of it as the financial equivalent of a ruler or reference price that many other rates and valuations are measured against.

Business Day financial

"on the third Business Day preceding the Redemption Date"

A business day is any weekday when banks, stock exchanges and most government offices are open for normal operations, excluding weekends and public holidays. For investors it matters because transaction timing, settlement of trades, filing deadlines and interest calculations are all measured in business days—think of it as the financial world’s working calendar that determines when money moves and official actions take effect.

Depositary Trust Company financial

"paid to The Depositary Trust Company for further payment to its participants"

A depositary trust company is an institution that holds securities in electronic form and manages the paperwork and transfers when shares or bonds are bought and sold, acting like a centralized digital safe and back‑office for the market. It matters to investors because it makes trades settle reliably and quickly, reduces the chance of lost or delayed ownership records, and supports smooth payment of dividends and other investor rights.

Global Notes financial

"7.375% Global Notes due 2027 (the “Notes”)"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Petrobras (PBR) announce regarding its 7.375% Global Notes due 2027?

Petrobras announced that its subsidiary Petrobras Global Finance B.V. will redeem US$670,009,000 of 7.375% Global Notes due 2027. The notes and Petrobras’s related guaranty will be cancelled after redemption, fully extinguishing obligations under this bond.

When is the redemption date for Petrobras’s 7.375% Global Notes due 2027?

The redemption date for the 7.375% Global Notes due 2027 is June 26, 2026. Interest on the notes will cease to accrue on and after that date, and the make-whole amount plus accrued interest will become due and payable.

How will the Petrobras 2027 notes redemption price be calculated?

The redemption price will be the greater of 100% of principal or the make-whole amount. The make-whole amount equals the present value of remaining payments discounted at the Treasury Rate plus 50 basis points, plus accrued interest from January 17, 2026.

How much of Petrobras’s 7.375% Global Notes due 2027 will be redeemed?

Petrobras plans to redeem an aggregate principal amount of US$670,009,000 of its 7.375% Global Notes due 2027. This amount reflects the outstanding notes covered by the redemption notice delivered to holders.

How will Petrobras fund the redemption of the 2027 Global Notes?

Petrobras’s subsidiary, Petrobras Global Finance B.V., intends to fund the redemption using available cash on hand. This means the company is not tying this specific transaction to a new financing in the disclosure provided.

How will payment of Petrobras’s redeemed 2027 notes be processed?

Payment will be made before 3:00 p.m. New York City time on the business day before the redemption date to The Bank of New York Mellon as trustee. The trustee will forward funds to The Depositary Trust Company for distribution to participants.

What happens to interest on Petrobras’s 7.375% 2027 notes after redemption?

Interest on the 7.375% Global Notes due 2027 will cease to accrue on and after the June 26, 2026 redemption date. On that date, the make-whole amount plus accrued interest becomes due and payable to the noteholders.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May, 2026

Commission File Number 001-15106

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(Exact name of registrant as specified in its charter)

Brazilian Petroleum Corporation - PETROBRAS

(Translation of Registrant's name into English)

Avenida Henrique Valadares, 28 
20241-030 - Rio de Janeiro, RJ
Federative Republic of Brazil

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F

PETROBRAS ANNOUNCES REDEMPTION OF 7.375% GLOBAL NOTES DUE 2027

RIO DE JANEIRO, BRAZIL – May 28, 2026 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices of redemption to the holders of the outstanding 7.375% Global Notes due 2027 (the “Notes”).

Title of Security	ISIN	CUSIP	Common Code	Aggregate Principal Amount to be Redeemed
7.375% Global Notes due 2027	US71647NAS80	71647NAS8	N/A	US$670,009,000

The redemption date for the Notes will be June 26, 2026 (the “Redemption Date”).

The redemption price for the Notes will be the greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points (the “Make-Whole Amount”), plus in the case of each of clause (A) and (B) above, accrued interest on the principal amount of such Notes from January 17, 2026 to (but not including) the Redemption Date. The Make-Whole Amount will be determined and communicated to holders of the Notes on the third Business Day preceding the Redemption Date.

Payment on the Notes will be made prior to 3:00 pm New York City time, on the business day preceding the Redemption Date, by credit to the account of The Bank of New York Mellon, the trustee for the Notes (the “Trustee”), as paying agent for the Notes. The Trustee will cause funds to be paid to The Depositary Trust Company for further payment to its participants.

On the Redemption Date, the Make-Whole Amount, plus accrued interest, will become due and payable. Interest on the Notes will cease to accrue on and after the Redemption Date. Upon the redemption, the Notes and the related guaranty by Petrobras will be cancelled and any obligation thereunder extinguished.

PGF intends to fund the amounts necessary to redeem the Notes with available cash on hand.

For more information or if you have any questions regarding the redemption, please contact Petrobras’s investor relations department at petroinvest@petrobras.com.br.

Forward-Looking Statements

This announcement contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. Petrobras undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

SIGNATURE

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.

	PETRÓLEO BRASILEIRO S.A-PETROBRAS
	By:	/s/ Andre Gameiro Rua
		Name: Andre Gameiro Rua
		Title: Attorney-in-fact
	By:	/s/ Guilherme Rajime Takahashi Saraiva
		Name: Guilherme Rajime Takahashi Saraiva
		Title: Attorney-in-fact

Date: May 28, 2026