Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 162

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 162
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 work and gender equality.
 Currently, 100% of our employees are covered by Collective Bargaining Agreements.
 In 2024, we adjusted the salaries and benefits of oil and maritime employees by 1% above inflation, according to the conditions negotiated and established in the CBA 2023-2025.
 We also have a Profit-Sharing Program (PLR) Agreement valid for 2024/2025, which determines the rules regarding profit sharing payment.
 Another right defined in Brazilian legislation is the power of employees to embrace their causes and promote strikes under the principles defined by law. We respect the right to strike, but we maintain our activities in full operation using contingency plans. Contingency plans are the way we can deal with several types of situations by being backup plans for operational continuity and safety we can use in case of unexpected situations.
 
Benefits
 Employees Variable Compensation
 We adopt a compensation policy in line with market practices in which we operate.
 The variable remuneration model for our employees is made up of the PLR, a legal requirement and our main variable remuneration practice, and the Accomplishment Award (the “PRD”), which complements the PLR. The PRD was implemented in 2023 to replace the Performance Award Program (the “PPP”), which was maintained only for members of our Executive Board (Officers). While the PLR only considers organizational performance, the PRD and PPP consider the employee's individual performance as well. These programs are aligned with the new guidelines of the Strategic Plan 2050 and Business Plan 2025-29 and our remuneration policy.

Annual Report and Form 20-F 2024 |
PLR
 In the 2024 fiscal year, we approved the PLR Agreement for all employees, regardless of their position, except for members of our Executive Board, and it became our main variable remuneration program.
 The payment of the 2024 PLR, which shall occur in 2025, is conditioned upon the satisfaction of the following conditions:
 
–                                              declaration                                            
    and payment of shareholder remuneration, for such fiscal year, approved by our Board of Directors;
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–                  obtainment              
    of net income for such fiscal year; and
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–                                         achievement                                       
    of an average percentage (weighted) of at least 80% for target indicators established by
                                    the Board of Directors.                                 
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In 2024, we provisioned US$464 million for the 2024 PL