Petrobras announces Voluntary Severance Program

Petrobras reports that its Board of Directors has approved a new Voluntary Severance Program (PDV). Eligible employees are those of the parent company, Petrobras, who are currently active and have retired under the Brazilian Social Security System (INSS) prior to the enactment of Constitutional Amendment No. 103/2019.

The PDV is a personnel management tool that provides retirees with an opportunity for career transition, while contributing to the ongoing and gradual renewal of the company’s workforce. It adopts knowledge management practices to ensure operational continuity, operational safety, and the handover of knowledge critical to the company.

The potential target group for this PDV is approximately 1,100 employees, and terminations are expected to occur throughout 2026.

The program's approval followed the company's internal governance process and is aligned with its Business Plan. The financial impact will be recognized in the company’s financial statements as participation is confirmed.