Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 164

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 164
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 (PETR3)
       based on the weighted average of the share prices over the last 60 trading sessions of the  
                                            reference year.                                        
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Annual Report and Form 20-F 2024 |

–                                                 the                                              
     ratio between the upfront payment and the deferred amount varies according to the hierarchical
    level of the participant, with higher deferment percentages for higher levels in the hierarchy.
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–                                                 for                                              
       the Executive Board, comprising the President and Directors, 60% of the PPP value is paid   
    upfront, and 40% is deferred, being settled in four annual installments. For Executive Managers
        and General Managers, the PRD ratio is 70% and 80% paid upfront, respectively, while the   
       remaining balance (30% and 20%, respectively) is also settled in four annual installments,  
                converted into phantom shares (PETR3) using the same calculation basis.            
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–                                             the                                           
    members of our Executive Board and Management may exercise the right to receive deferred
             installments after the established grace periods have been fulfilled.          
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–                                               the                                             
     value of each installment must be equivalent to the conversion of phantom shares into cash 
    value based on the weighted average of our common shares during the last 20 trading sessions
                                     prior to the request date.                                 
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–                                              for                                           
     other employees, the payment is made exclusively upfront, upon approval by the Executive
    Board. The payment is also conditioned on the approval, by the Board of Directors, of the
    metrics measured by the Performance area following the performance evaluation process for
                                   the respective fiscal year.                               
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Main Benefits Granted to Employees
 We offer benefits that are commensurate with our size and seek to value our employees. All of our employees are entitled to the same benefits, regardless of their positions or duties. There are no differences between the benefit plans of the highest governance body, senior executives and all other employees. We offer complementary pension plans, medical assistance and pharmacy benefits. In addition, some of our consolidated subsidiaries have their own benefit plans.
Pension Plans
 We sponsor six post-employment benefit plans, managed by Petros, with pension characteristics:
 
–                                     Plano                                  
    Petros do Sistema Petrobras Renegotiated (the “PPSP-R”) – Defined Benefit
                           type, closed to new members.                      
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–                                   Plano                                 
    Pet