Petrobras and Union reach an agreement

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SAO PAULO — After three and a half days of negotiations, Petrobras and the National Oilworkers Federation (FUP) reached an agreement yesterday to suspend the labor strike which was started on Monday (03/23).

The other unions, Sindipetro Rio Grande do Sul, Litoral Paulista, São José dos Campos, Rio de Janeiro, Alagoas/Sergipe and Pará/Amazonas/Maranhão/Amapá announced they will not recommend their members accept the proposal during the general meetings they will hold through Sunday (03/29), although they acknowledge progress has been made on the negotiation table.

The proposal, prepared during the negotiations and accepted by FUP, included several advancements: an increase in the base level for Profit and Result Sharing (PRS) and the payment of overtime on the May Day holiday to the employees involved in special labor systems. Agreements were also reached regarding worker safety.

Throughout the movement, the Company has shown to be open to negotiation and dialogue with the labor unions and it has taken all necessary measures to ensure the maintenance of production, facility and employee safety, and supply to the population.

www.maritimeandenergy.com

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