Petrobras obtains favorable decision in judgment of labor case in Brazil

Petrobras, following up on the release disclosed on February 15, 2022, informs that, on November 10, 2023, the First Panel of the Federal Supreme Court concluded the judgment of the pending appeals in the lawsuit in which the methodology for calculating the Minimum Remuneration by Level and Regime (RMNR) supplement is discussed.

The First Panel of the Federal Supreme Court, by 3 votes to 1, recognized the validity of the collective bargaining agreement freely signed between Petrobras and the unions, regarding the calculation methodology for determining the remuneration of the company's employees. The court decision can be appealed to the full Federal Supreme Court.

As this decision can still be appealed, Petrobras is evaluating possible effects on its financial statements.

Further information on this case can be found in the notes to the Quarterly Financial Statements for 3Q23, released on November 9, 2023.