MINISTERIAL RESOLUTION No. 752/2023 of the Ministry of Labor, Employment and Social Prevision, of May 18, 2023

“Regulation of Salary Increase”

• Purpose of the Resolution:

1. To regulate the application of the Salary Increase in the private sector established by SD No. 4928 of May 1st, 2023 for all types of salaried employment contracts negotiated at a base rate of 3%.

2. In connection with the new Minimum Salary established at Bs2,362 by the referred DS, which represents an increase of 5% compared to the amount established for the 2022 fiscal year, the resolution establishes that no employee may perceive a basic salary inferior to said amount.

• Application criteria for the Salary Increase:

1. It must be applied to the Basic Salary received during the current fiscal year.

2. It must be formalized through the signing of a Collective Salary Increase Agreement between the employer and the employees, which shall be filed until June 30, 2023 through the Virtual Office of Proceedings of the Ministry, attaching the corresponding documentation.

3. It is not mandatory for the personnel holding the following positions: chairman, vice chairman, board members, managers, deputy managers, general directors, directors or deputy directors that hold a salary level according to the appointed position.

4. The Salary shall not be lower than the National Minimum Salary, considering that in cases where the 3% increase is not enough to reach the amount of the Minimum Salary, it must be leveled up to the amount of Bs2,362, even if the leveling implies a percentage higher than 3%.

5. Previous salary increases with lower percentages must be leveled up according to this Resolution.

6. The retroactive payment of the salary increase, and its application must be made effective until Wednesday, May 31 of the current fiscal year.