Petrokemija d d : Agreement Reached on the Annex to the Collective Agreement - 7/30/2020

Pursuant to the Rules of the Zagreb Stock Exchange Petrokemija PLC publishes that the representatives of the Management Board and the trade unions, the Autonomous Trade Union of Workers in Power, Chemical and Non-Metal Industry of Croatia, the Democratic Trade Union - The Croatian Trade Union Association and Oil Industry Trade Union, have reached Agreement an Annex to the Collective Agreement for Petrokemija PLC.

For the first time in 12 years, this Annex to the Collective Agreement improves the rights of Petrokemija's employees, which includes a 5% increase of employee salary and the alignment of basic employment relations with the industry standard.

The Annex to the Collective Agreement is the result of respect for the social partners, which strengthens the company's position in the upcoming challenging period and at the same time emphasizes the important role of Petrokemija's employees as one of the key stakeholders in ensuring the sustainable development of the company on a highly demanding international market.

From a financial standpoint, these changes will increase the budget for employees by 8 million per year. Pursuant to the Annex all contractual rights defined by the Collective Agreement remain valid until 31 December 2021.