Incentive

The top metrics provide more explicit guidance on our key short-term goals. These are metrics that are rolled out throughout our organizational structure, from top to bottom, to ensure that individual employee actions are aligned with the Plan’s main commitments. In Strategic Plan 2023-2027 (SP 2023-2027), the top metrics focused on value generation, safety, and sustainability in operations were maintained:

> IAGEE: Compliance with greenhouse gas targets index

> VAZO: Volume of oil and oil products spilled

> TRI: Total recordable injuries

> Delta EVA®: Economic Value Added

The IAGEE and the VAZO reflect the SP 2023-2027 alignment with low-carbon and environmental sustainability commitments, while the TRI is a fundamental tool for achieving our ambition in terms of safety: zero fatalities. The IAGEE represents the consolidation of attendance of the greenhouse gas intensity targets for E&P and Refining.

For 2023, the IAGEE indicator underwent a change in the factor that represents the E&P segment, which now considers only the GHG intensity of the units in full operation in the year the indicator is monitored.

>> See the metrics table in chapter Targets, Metrics and Performance

The IAGEE, VAZO, and ∆EVA® indicators impact the variable compensation of all employees, including senior management. Our variable compensation program aims to align individual performance with our global goals and increase engagement so everyone feels responsible for our results. Thus, the variable remuneration of each employee or executive is calculated based on individual goals and the percentage of achievement of these top three metrics.

* Note: Exploration and Production, Production Development, Marketing and Logistics, Refining and Natural Gas, and Digital Transformation and Innovation