Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 65

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 65
---
 of the judgment), therefore increasing the amount of possible losses for the affected banks in the event of an unfavorable decision by the STF.
 In May 2015, the STJ had ruled that in the individual enforcement of a judgment from a public civil action recognizing savers’ rights to inflationary purges from the Verão Plan (January 1989), remunerative interest could not be included in the liquidation calculations unless expressly awarded. This limited banks’ exposure, though affected parties could still file individual actions to claim such interest when applicable. However, in 2021, the STJ reversed course, allowing beneficiaries of inflationary purges to individually enforce collective judgments particularly to recover remunerative interest, even if not included in the original public civil action.
 In December 2017, with the mediation of the Executive branch’s attorney (Advocacia Geral da União or AGU) and the intervention of the Central Bank of Brazil, the representatives of the banks and the savings account holders entered into an agreement related to the economic plans aiming to finalize the claims, establishing a timeline and conditions for the savings account holders to accede to such agreement. The STF affirmed the agreement on March 1, 2018, with a 24-month period for savers to adhere. On March 11, 2020, the signatories to the Collective Bargaining Agreement agreed to an amendment extending the agreement for a further 60 months. The extension of the agreement was approved by the plenary of the court on May 29, 2020, for a period of 30 months (renewable for a further 30 months) starting on March 12, 2020. A new amendment was agreed between the signatories to the Collective Bargaining Agreement, extending it for a further 30 months, which was submitted to the STF for approval. In a session concluded on December 16, 2022, the extension of the term of the Collective Bargaining Agreement was approved for another 30 months and the adherence to the terms of the agreement is voluntary and can be opter for by savers through a digital platform specially created for this purpose. Considering that this is a voluntary agreement, which does not oblige the savings account holders to join, we are unable to predict how many savings account holders will accede to it.
 In December 2024, the STJ decided that: (i) as long as it is expressly stated in the collective judgment ordering the recomposition of expunged inflationary