This Thursday (Jan. 16), our Executive Board approved a Voluntary Termination Incentive Program (VTIP). The program aims to adjust the staff to the Business and Management Plan, to meet the expectations of employees interested in leaving the enterprise, and to preserve the existing technical knowledge at the company.

Employees who are already retired through the INSS and have continued working, those who have time on the job and are old enough to retire through the INSS (the National Social Security Institute), but who have not yet applied for retirement benefits (must be retired by the end of the enrollment period), and those who can leave the company at any time for being aged 55 years or more by March 31 (deadline for enrollment) and have sufficient contribution time at Petros (if opting for Petros), and those who have standing labor contracts, regardless of position or job, may apply for the VTIP.

Employees who are eligible and interested in the VTIP may apply from February 13 to March 31 this year. Terminations will take place in no more than 36 months after application deadline and, in this period, the transfer of knowledge and the company's operational continuity must be ensured.

The program foresees the payment of compensation linked to the achievement of the transfer of knowledge plans.

VTIP rules will be disclosed to the employees no later than February 11.

We will continue conducting public selection processes, as of yet not scheduled, to meet our staffing needs under the Business and Management Plan.

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