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 of the

Securities Exchange Act of 1934

For the month of May, 2026

Commission File Number 1-15106

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 – 9th floor 
20231-030 – 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 Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

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.

Yes _______ No___X____

B3: PETR3 (ON) | PETR4 (PN)

NYSE: PBR (ON) | PBRA (PN)

www.petrobras.com.br/ir

petroinvest@petrobras.com.br

+ 55 21 3224-1510

Disclaimer

This presentation contains some financial indicators that are not recognized by GAAP or the IFRS Accounting Standards. 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 the IFRS Accounting Standards. See definitions of 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, Net Debt/LTM Adjusted EBITDA Metrics and Consolidated Debt.

TABLE OF CONTENTS

CONSOLIDATED RESULTS

The main functional currency of the Petrobras Group (the “Company”) 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 on a monthly basis.

Key Financial Information

Sales Revenues

Sales revenues were US$ 23,535 million for the period Jan-Mar/2026, a 11.7% increase (US$ 2,462 million) when compared to US$ 21,073 million for the period Jan-Mar/2025, mainly due to:

Cost of Sales

Cost of sales was US$ 12,195 million for the period Jan-Mar/2026, representing a 14.1% increase (US$ 1,510 million) compared to US$ 10,685 million in Jan-Mar/2025. This increase was mainly driven by a US$ 653 million increase in production taxes, mainly reflecting the higher average Brent crude prices, and a US$ 844 million increase in depreciation, depletion and amortization, mainly resulting from: (i) the start-up of the FPSOs Almirante Tamandaré (Búzios field, Santos basin) in February 2025 and Alexandre de Gusmão (Mero field, Campos basin) in May 2025; and (ii) an increase in depreciation of capitalized decommissioning costs, reflecting higher production and greater asset values in Jan-Mar/2026 compared to Jan-Mar/2025.

Income (Expenses)

Selling expenses were US$ 1,515 million for the period Jan-Mar/2026, an 39.0% increase (US$ 425 million) compared to US$ 1,090 million for the period Jan-Mar/2025, mainly due to higher logistical expenses related to higher volumes of crude oil and fuel oil exports.

Exploration costs were US$ 138 million for the period Jan-Mar/2026, a 55.9% decrease (US$ 175 million) compared to US$ 313 million for the period Jan-Mar/2025, mainly due to a US$ 208 write-off of exploration expenditures related to blocks C-M-753 and C-M-789 in the Campos Basin, which was recognized in Jan-Mar/25 following management assessment that determined the projects were not economically feasible, leading to the decision to discontinue their development.

Other taxes were US$ 474 million for the period Jan-Mar/2026, a 285.4% increase (US$ 351 million) compared to US$ 123 million for the period Jan-Mar/2025, mainly due to:

Impairment reversals amounted to US$ 417 million for the period Jan-Mar/2026, mainly due to the Nitrogen Fertilizer Unit UFN-III, located in Três Lagoas/MS, in the amount of US$ 405 million, whose approval for project resumption resulted in an estimate of positive future cash generation for the asset, with an increase in its recoverable value, representing a US$ 467 million change compared to net impairment losses of US$ 50 million recorded in Jan-Mar/2025, relating to producing properties linked to oil and gas activities in Brazil.

Net finance income (expense)

Net finance income amounted to US$ 1,467 million for the period Jan-Mar/2026, representing a decrease of US$ 281 million compared to a net finance income of US$ 1,748 million recorded in Jan-Mar/2025, mainly due to a foreign exchange gain - Real x U.S. dollar of US$ 2,311 million in Jan-Mar/2026, as compared to a US$ 3,077 million gain in Jan-Mar/2025 reflecting a 5.1% appreciation of the Real/US$ exchange rate in Jan-Mar/2026 (03/31/2026: R$ 5.22/US$, 12/31/2025: R$ 5.50/US$) compared to a 7.3% appreciation in Jan-Mar/2025 (03/31/2025: R$ 5.74/US$, 12/31/2024: R$ 6.19/US$).

Income taxes

Income tax was an expense of US$ 3,107 million in Jan-Mar/2026, compared to an expense of US$ 3,111 million in Jan-Mar/2025. The income tax expense remained at a similar level between the periods, despite the increase in net income before income taxes to US$ 9,325 million in Jan-Mar/2026, compared to US$ 9,106 million in Jan-Mar/2025. This increase resulted in nominal income taxes calculated based on the Brazilian statutory corporate income tax rate of 34% of US$ 3,170 million in Jan-Mar/2026, compared to US$ 3,096 million in Jan-Mar/2025.

Net Income attributable to shareholders of Petrobras

Net income attributable to shareholders of Petrobras was US$ 6,199 million for the period Jan-Mar/2026, a US$ 225 million increase compared to a net income attributable to shareholders of Petrobras of US$ 5,974 million for the period Jan-Mar/2025, mainly due to higher gross profit (US$ 11,340 million in Jan-Mar/2026 compared to US$ 10,388 million in Jan-Mar/2025), partially offset by higher expenses (US$ 3,492 million of expenses in Jan-Mar/2026 compared to US$ 3,112 million of expenses in Jan-Mar/2025) and lower net finance income (US$ 1,467 million of income in Jan-Mar/2026 compared to US$ 1,748 million of expenses in Jan-Mar/2025).

CAPITAL EXPENDITURES (CAPEX)

In line with our Business Plan, our Capital Expenditures were primarily directed toward investment projects which Management believes are most profitable, relating to oil and gas production.

In Jan-Mar/2026, Capital Expenditures in the E&P segment totaled US$ 4,463 million, representing 87.4% of the CAPEX of the Company, a 27.4% increase when compared to US$ 3,502 million in Jan-Mar/2025, mainly due to the development of large projects in the pre-salt layer of the Santos Basin, especially in the Búzios and Sepia Fields, due to the progress in the construction works of the units, as well as in the Campos Basin projects, with the ramp-up of the Marlim Revitalization. CAPEX in Jan-Mar/2026 were mainly concentrated on: (i) the development of production in the pre-salt layer of the Santos Basin (US$ 2.9 billion); (ii) the development of production in the pre-salt and post-salt layers of the Campos Basin (US$ 2.3 billion); and (iii) exploratory investments (US$ 0.3 billion). 

LIQUIDITY AND CAPITAL RESOURCES

(1) Free Cash Flow (FCF) is in accordance with the new Shareholder Remuneration Policy (“Policy”), 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&E and intangible assets and acquisition of equity interests.

As of March 31, 2026, Cash and cash equivalents amounted to US$ 6,570 million and Adjusted Cash and Cash Equivalents totaled US$ 9,121 million.

In the three-month period ended March 31, 2026, we had net cash provided by operating activities of US$ 8,399 million and positive Free Cash Flow of US$ 3,855 million. This level of cash generation, together with proceeds from disposal of assets (divestments) of US$ 250 million, financial compensation from co-participation agreements of US$ 307 million, dividends received of US$ 2 million, divestment in financial investments of US$ 394 million and proceeds from finance debt of US$ 1,317 million, were allocated to: (a) debt prepayments and payments of principal and interest due in the period of US$ 1,269 million; (b) repayment of lease liability of US$ 2,441 million; (c) dividends paid to shareholders of Petrobras of US$ 2,231 million; and (d) acquisition of PP&E and intangibles assets of US$ 4,513 million.

In the three-month period ended March 31, 2026, the Company repaid several finance debts, in the total amount of US$ 1,269 million, notably: (i) US$ 757 million in the capital market; (ii) US$ 309 million in the banking market; (iii) US$ 163 million to export credit agencies; (iv) US$ 27 million to development banks; and (v) US$ 13 million to others.

In the three-month period ended March 31, 2026, the Company raised US$ 1,317 million, notably: (i) proceeds in the domestic banking market, in the amount of US$ 948 million; and (ii) proceeds in the export credit agencies, in the amount of US$ 365 million.

CONSOLIDATED DEBT

As of March 31, 2026, the Company has maintained its liability management strategy to improve the debt profile and to adapt to the maturity terms of the Company’s long-term investments.

Gross Debt increased by 2.0% (US$ 1,421 million) to US$ 71,214 million as of March 31, 2026 from US$ 69,793 million as of December 31, 2025, due to: (i) higher finance debt (a US$ 1,096 million increase), mainly due to the proceeds in the domestic banking market, in the amount of US$ 948 million; and to (ii) higher lease liabilities in the period (a US$ 325 million increase). Gross Debt was maintained lower than the maximum level of US$ 75,000 million, with convergence to the level of US$ 65,000 million defined in the 2026-2030 Business Plan, mainly due to debt prepayments and scheduled repayments.

As of March 31, 2026, Net Debt increased by 2.5% (US$ 1,500 million), reaching US$ 62,093 million, compared to US$ 60,593 million as of December 31, 2025, mainly due to a US$ 1,421 million increase in gross debt.

RECONCILIATION OF ADJUSTED EBITDA, LTM ADJUSTED EBITDA AND NET DEBT/LTM ADJUSTED EBITDA METRICS

LTM Adjusted EBITDA reflects the sum of the last twelve months of Adjusted EBITDA, which is computed by using the net income before net finance income (expense), income taxes, depreciation, depletion and amortization adjusted by items not considered part of the Company’s primary business, which include results in equity-accounted investments, results on disposal and write-offs of assets, impairment and results from co-participation agreements in bid areas.

LTM Adjusted EBITDA represents an alternative to the Company's operating cash generation. This measure is used to calculate the metric Net Debt/LTM Adjusted EBITDA, to support management’s assessment of liquidity and leverage.

Adjusted EBITDA and Net cash provided by operating activities – OCF

LTM Adjusted EBITDA and LTM Net cash provided by operating activities – OCF

Adjusted Cash and Cash Equivalents, Gross Debt, Net Debt, Net Cash provided by Operating Activities (LTM OCF), LTM Adjusted EBITDA, Gross Debt Net of Cash and Cash Equivalents/LTM OCF and Net Debt/LTM Adjusted EBITDA Metrics

The Net Debt/LTM Adjusted EBITDA metric is an important metric that supports our management in assessing the liquidity and leverage of Petrobras Group. This ratio is an important measure for management to assess the Company’s ability to pay off its debt, mainly because our Business Plan 2026-2030 defines US$ 75 billion as the maximum level for our Gross Debt, with convergence to the level of US$ 65 billion.

The following table presents the reconciliation of these metrics to the most directly comparable measures derived from the IFRS Accounting Standards captions:

RESULTS BY OPERATING BUSINESS SEGMENTS

Exploration and Production (E&P)

Financial information

^[1]

In the period Jan-Mar/2026, the gross profit for the E&P segment was US$ 7,854 million, a decrease of 5.0% compared to the period Jan-Mar/2025, mainly due to increased production taxes reflecting higher Brent prices and production costs.

Operating income was US$ 7,317 million in the Jan-Mar/2026 period, a decrease of 2.9% compared to the period Jan-Mar/2025, mainly due to the lower gross profit partially offset by lower operating expenses resulting in a reduction in exploration expenses due to the write-off of Blocks CM-753 and CM-789 that occurred in the same quarter last year.

In the period Jan-Mar/2026, the production taxes were US$ 3,455 million, an increase of 23.4% compared to the period from Jan-Mar/2025 caused primarily by higher prices.

Operational information

(1) There were adjustments in the LPG production volumes from January to July 2025, due to the reprocessing of LPG data from the Boaventura Energy Complex.

Production of crude oil, NGL and natural gas was 3,225 mboed in the period Jan-Mar/2026, representing an increase of 16.1% compared to Jan-Mar/2025, mainly due to: (i) the ramp-up of the FPSOs Almirante Tamandaré, Marechal Duque de Caxias, Maria Quitéria, Anita Garibaldi, and Anna Nery; (ii) start of production of the FPSOs Alexandre de Gusmão and P-78; (iii) new wells from complementary projects in the Campos and Santos Basins; (iv) higher operational efficiency and lower volume of losses due to maintenance stoppages in Santos Basin; (v) higher NGL production.
These factors were partially offset by the natural decline in production.

Refining, Transportation and Marketing

Financial information

In the period Jan-Mar/2026, Refining, Transportation and Marketing gross profit increased US$ 3,314 million compared to the period Jan-Mar/2025, primarily driven by higher international margins on diesel and the effect of the realization of inventory acquired at lower prices, before the increase in Brent crude price during Jan-Mar/2026. Operating income growth for the period primarily reflects the gross profit increase, partially mitigated by higher expenses.

The average refining cost in the period Jan-Mar/2026 was US$ 3.25/bbl, up 24.0% from Jan-Mar/2025, primarily due to inflationary effects on personnel costs related to the collective labor agreement and refinery revitalization activities, compounded by local currency appreciation in 2026. This increase was partially offset by higher oil processing volumes.

Operational information

(1) Changes presented in percentage points.

Domestic sales in the period Jan-Mar/2026 were 1,745 mbbl/d, an increase of 2.9% compared to the period Jan-Mar/2025.

Gasoline sales volume rose 3.8% in Jan-Mar/2026 compared to Jan-Mar/2025 mainly due to the increase in total demand for Otto cycle fuels and a higher share of gasoline compared to ethanol. Jet Fuel sales grew 9.6% due to the increase in economic activity boosting tourism and business travel, combined with real exchange rate appreciation. Diesel sales volume grew by 0.8% in Jan-Mar/2026 compared to Jan-Mar/2025, as a result of growth in economic activity, expansion in retail trade, and reduced sales from other producers.

Total oil products output for the period Jan-Mar/2026 was 1,816 mbbl/d, representing a 6.4% increase compared to Jan-Mar/2025. In the first three months of 2026, the utilization factor of our refineries was 5 percentage points higher year-over-year, reflecting stronger regional demand amid geopolitical tensions in the Middle East. This increase occurred against a comparatively reduced crude throughput in 2025, which was impacted by the scheduled turnaround at Abreu e Lima Refinery (Northeastern Brazil) during the first quarter of 2025.

Gas and Low Carbon Energies 

Financial information

In Jan-Mar/2026, the gross profit increased 34.6% in relation to Jan-Mar/2025, reflecting greater supply of domestic natural gas and higher sales of gas and energy.

The operating income in Jan-Mar/2026 also increased in relation to Jan-Mar/2025, due to higher gross profit, despite higher operating expenses as a result of exchange rate variation.

Operational information

(1) Effective as of August 2025, according to the First Capacity Reserve Auction held in 2021.

The start-up of the Ibirité and Termorio thermal power plants occurred ahead of schedule in August 2025, making capacity available to meet the contracts awarded in 2021 Capacity Reserve Auction.

 In Jan-Mar/2026, Petrobras’ thermal availability sales decreased by 20.4% compared to Jan-Mar/2025, due to the expiration of contracts. In the same period, energy sales increased by 99.2%, mainly driven by the optimization of the natural gas supply portfolio and the need to meet third-party steam demand.

On the natural gas supply side, domestic gas production in Jan-Mar/2026 grew 34.5% due to availability of gas from the Rota 3 gas pipeline and the operation of the Itaboraí gas processing unit. As a result of the increased supply of domestic production, there was a decrease in natural gas imports.

GLOSSARY

SIGNATURES

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.

Date: May 22, 2026

PETRÓLEO BRASILEIRO S.A–PETROBRAS

By: /s/ Fernando Sabbi Melgarejo

______________________________

Fernando Sabbi Melgarejo

Chief Financial Officer and Investor Relations Officer