Petrobras on co-participation in the costing of the health plan

Petróleo Brasileiro S.A. – Petrobras informs that the Brazilian Congress approved yesterday the Legislative Decree that suspends the effects of CGPAR Resolution No. 23, a rule that was in effect since January 26, 2018 and established, among other issues, guidelines and parameters for the federal state-owned companies’ funding of employees’ health care benefits.

The health benefit for Petrobras employees and the respective costing regime are based on conditions negotiated and agreed upon via Collective Bargaining Agreement (ACT) in effect until August 31, 2022.

In the negotiation of the ACT 2020-2022, the proportion of the health plan’s funding was changed from 70% of the expenses covered by the company and 30% by the beneficiaries to:

i. As of January 1, 2021: 60% share of the expenses covered by the company and 40% by the participants;

ii. As of January 1, 2022: 50% share of the expenses covered by the company and 50% by the participants, if there were no change or revocation of CGPAR Resolution No. 23 as a result of acts or piece of legislation regularly issued by the executive or legislative powers.

With the Legislative Decree approved yesterday, the 60% / 40% ratio will be maintained and will remain for the duration of the current Collective Bargaining Agreement or until a new agreement is reached between the parties.

The company will evaluate the impacts of the alteration on the plan costing and its effects on the financial statements.

Facts deemed material on the subject will be timely disclosed to the market. 

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