Petrobras on Favorable Decision Related to Labor Lawsuit

Source: 7/28/2021, Location: South America

Petrobras informs that, on this date, it became aware of a favorable decision handed down by the Minister Reporter of the Federal Supreme Court, in appeals filed against the decision of the Superior Labor Court on the review of the methodology for calculating the Minimum Compensation Per Level and Working Regime (RMNR) complement.

The Reporting Minister's decision recognizes the validity of the collective bargaining agreement freely entered into between Petrobras and the unions, reversing the Superior Labor Court decision.

In the quarterly report of 03/31/2021, for these processes, the amount of R$ 0.7 billion, classified as probable loss, is recognized in liabilities as provision for judicial and administrative proceedings, and the amount of R$ 30.2 billion, classified as possible loss, is included as non provisioned judicial proceedings.

Petrobras informs that today's decision can be appealed and is evaluating whether there will be effects on its financial statements.

Additional information on this subject is presented in the 2020 financial statements, through note 20.1 – Provisions for legal proceedings, judicial deposits and contingent liabilities and 20.3 - Contingent liabilities - labor nature.

Gulf Oil and Gas
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