Minimum Wage Table 2022 and 2023

To approve in all and in each of its parts the Tripartite Agreement within the framework of the Negotiation for the Setting of the Minimum Wage for the years 2022 and 2023, which was executed and approved by the representatives of the Employer Sector, Worker Sector, and Public Sector, fixing the adjustment of Minimum Wage at the national level for the years 2022 and 2023 in accordance with the percentages detailed as follows:

To approve the new Minimum Wage Table that shall govern throughout the country, in accordance with economic activities, company size, and amounts, which shall enter into force as of the first (01) day of January of the year two thousand twenty-two (2022), in the following manner:

To approve the new Minimum Wage Table that shall govern throughout the country, in accordance with economic activities, company size, and amounts, which shall enter into force as of the first (01) day of January of the year two thousand twenty-two (2022), in the following manner: 2022 2023 5.32% 5.32% 5.50% 5.50% 6.50% 6.50% 7.50% 8.00% Categories From 1 to 10 Workers From 11 to 50 Workers From 51 to 150 Workers From 151 Workers and Above Years Table of Percentage of Adjustment to Minimum Wage

To approve the new Minimum Wage Table that shall govern throughout the country, in accordance with economic activities, company size, and amounts, which shall enter into force as of the first (01) day of January of the year two thousand twenty-three (2023), in the following manner: MINIMUM WAGE TABLE FOR THE YEAR 2022

To approve the new Minimum Wage Table that shall govern throughout the country, in accordance with economic activities, company size, and amounts, which shall enter into force as of the first (01) day of January of the year two thousand twenty-three (2023), in the following manner:

MINIMUM WAGE TABLE FOR THE YEAR 2023

The adjustment aforementioned corresponding to the months of January, February, and March of the year 2022 shall be paid in deferred form during the months of April, May, and June of this year. No. BRANCH OF ECONOMIC ACTIVITY COMPANY SIZE BY NUMBER OF WORKERS MONTHLY MINIMUM WAGE MINIMUM WAGE 2023 ORDINARY WORKING DAY OF 8 WORKING HOURS MINIMUM WAGE PER HOUR From 1 to 10 7,802.20 260.07 32.51 From 11 to 50 8,255.64 275.19 34.40 From 51 to 150 9,041.89 301.40 37.67 From 151 and beyond 9,915.61 330.52 41.32 From 1 to 10 10,659.26 355.31 44.41 From 11 to 50 11,016.61 367.22 45.90 From 51 to 150 12,985.89 432.86 54.11 From 151 and beyond 14,878.19 495.94 61.99 From 1 to 10 10,462.78 348.76 43.59 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 11,003.11 366.77 45.85 From 11 to 50 11,371.96 379.07 47.38 From 51 to 150 13,404.77 446.83 55.85 From 151 and beyond 15,358.14 511.94 63.99 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,041.26 434.71 54.34 From 151 and beyond 14,526.61 484.22 60.53 From 1 to 10 10,904.88 363.50 45.44 From 11 to 50 11,270.42 375.68 46.96 From 51 to 150 13,285.08 442.84 55.35 From 151 and beyond 15,220.99 507.37 63.42 From 1 to 10 11,101.34 370.04 46.26 From 11 to 50 11,473.51 382.45 47.81 From 51 to 150 13,524.46 450.82 56.35 From 151 and beyond 15,495.25 516.51 64.56 From 1 to 10 10,610.14 353.67 44.21 From 11 to 50 10,965.84 365.53 45.69 From 51 to 150 12,926.02 430.87 53.86 From 151 and beyond 14,809.63 493.65 61.71 From 1 to 10 10,610.14 353.67 44.21 From 11 to 50 10,965.84 365.53 45.69 From 51 to 150 12,770.78 425.69 53.21 From 151 and beyond 14,357.47 478.58 59.82 TTaabbll eeooffmmiinniimmuummwwaa ggeeffoorrtthheeyyeeaarr 2 20 02 23 3 11 Hospital Activities 8 Transportation, Storage and Communications 9 Financial Establishments, Real Estate and Services Provided to Businesses 10 Community, Social and Personal Services, Security and Cleaning 7 Restaurants and Hotels 3 Manufacturing Industry 1 Agriculture, Forestry, Hunting and Fishing 2 Mining and Quarrying 4 Electricity, Gas and Water 5 Construction 6 Wholesale and Retail Trade MINIMUM WAGE TABLE FOR THE YEAR 2023

The adjustment aforementioned corresponding to the months of January, February, and March of the year 2022 shall be paid in deferred form during the months of April, May, and June of this year. No. BRANCH OF ECONOMIC ACTIVITY COMPANY SIZE BY NUMBER OF WORKERS MONTHLY MINIMUM WAGE MINIMUM WAGE 2023 ORDINARY WORKING DAY OF 8 WORKING HOURS MINIMUM WAGE PER HOUR From 1 to 10 7,802.20 260.07 32.51 From 11 to 50 8,255.64 275.19 34.40 From 51 to 150 9,041.89 301.40 37.67 From 151 and beyond 9,915.61 330.52 41.32 From 1 to 10 10,659.26 355.31 44.41 From 11 to 50 11,016.61 367.22 45.90 From 51 to 150 12,985.89 432.86 54.11 From 151 and beyond 14,878.19 495.94 61.99 From 1 to 10 10,462.78 348.76 43.59 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 11,003.11 366.77 45.85 From 11 to 50 11,371.96 379.07 47.38 From 51 to 150 13,404.77 446.83 55.85 From 151 and beyond 15,358.14 511.94 63.99 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,041.26 434.71 54.34 From 151 and beyond 14,526.61 484.22 60.53 From 1 to 10 10,904.88 363.50 45.44 From 11 to 50 11,270.42 375.68 46.96 From 51 to 150 13,285.08 442.84 55.35 From 151 and beyond 15,220.99 507.37 63.42 From 1 to 10 11,101.34 370.04 46.26 From 11 to 50 11,473.51 382.45 47.81 From 51 to 150 13,524.46 450.82 56.35 From 151 and beyond 15,495.25 516.51 64.56 From 1 to 10 10,610.14 353.67 44.21 From 11 to 50 10,965.84 365.53 45.69 From 51 to 150 12,926.02 430.87 53.86 From 151 and beyond 14,809.63 493.65 61.71 From 1 to 10 10,610.14 353.67 44.21 From 11 to 50 10,965.84 365.53 45.69 From 51 to 150 12,770.78 425.69 53.21 From 151 and beyond 14,357.47 478.58 59.82 TTaabbll eeooffmmiinniimmuummwwaa ggeeffoorrtthheeyyeeaarr 2 20 02 23 3 11 Hospital Activities 8 Transportation, Storage and Communications 9 Financial Establishments, Real Estate and Services Provided to Businesses 10 Community, Social and Personal Services, Security and Cleaning 7 Restaurants and Hotels 3 Manufacturing Industry 1 Agriculture, Forestry, Hunting and Fishing 2 Mining and Quarrying 4 Electricity, Gas and Water 5 Construction 6 Wholesale and Retail Trade

The adjustment aforementioned corresponding to the months of January, February, and March of the year 2022 shall be paid in deferred form during the months of April, May, and June of this year.

In the event that the year-over-year inflation index recorded in the month of December 2022, issued by the Central Bank of Honduras, is greater than the adjustment fixed herein for the year 2023, an adjustment equal to the percentage of inflation recorded must be applied, for which the respective agreement shall be issued through the Secretariat of Labor and Social Security, with updated values.

The General Directorate of Wages and the General Directorate of Labor Inspection shall be responsible for ensuring strict compliance with the payment of Minimum Wages in accordance with established legal norms; guaranteeing in all cases the application to all workers of the principle of equal remuneration between male labor and female labor for work of equal value.

Excluded from this Agreement are the Workers of the Honduran Textile Maquiladora Sector and other Free Zone Companies by virtue of the current Agreement executed on the thirteenth (13) day of December of the year two thousand eighteen (2018).

This Agreement shall be published in the Official Gazette La Gaceta. Given in the city of Tegucigalpa, municipality of the Central District, on the first (01) day of the month of April of the year two thousand twenty-two (2022). LET IT BE COMMUNICATED AND PUBLISHED IRIS XIOMARA CASTRO SARMIENTO Constitutional President of the Republic LESLY SARAHÍ CERNA Secretary of State in the Offices of Labor and Social Security

word the coordinators of the employer and worker sectors present to this Commission the proposal for the setting of the Minimum Wage for the years 2022 and 2023, which, widely discussed by unanimous vote, the Minimum Wage Commission agrees: 1.- To fix the Adjustment to Minimum Wage for two years, which shall enter into force as of the first (01) day of January of two thousand twenty-two (2022), and likewise as of the first (01) day of January of two thousand twenty-three (2023), respectively, in accordance with the percentages described in the following table: 2.- Due to the negotiation of minimum wage adjustment percentages, the Minimum Wage Table is described that shall govern throughout the country for the years 2022 and 2023 in accordance with the following economic activities and number of workers: 2022 2023 5.32% 5.32% 5.50% 5.50% 6.50% 6.50% 7.50% 8.00% Categories From 1 to 10 Workers From 11 to 50 Workers From 51 to 150 Workers From 151 Workers and Above Years Table of Percentage of Adjustment to Minimum Wage MINUTES V MINIMUM WAGE NEGOTIATION COMMISSION YEAR 2022 MEETING HALL OF THE MINISTERIAL OFFICE In the city of Tegucigalpa, municipality of the Central District, department of Francisco Morazán, Republic of Honduras, meeting in the facilities of the Civic-Governmental Center "José Cecilio del Valle", fifth (5th) floor of Building Cuerpo Bajo B, on Friday the first (01) day of April of the year two thousand twenty-two (2022), at four thirty in the afternoon (04:30 pm), day and hour designated for the celebration of the hearing with the Minimum Wage Negotiating Commission, with attendance and in representation; ON BEHALF OF WORKER INTERESTS: Proprietary Members: Mario de Jesús Sales, Constantino López Arias and Benjamín Vásquez Gutiérrez; as Alternate Members: Josué Jeremías Orellana, Tomás Membreño and José Humberto Lara Enamorado. ON BEHALF OF EMPLOYER INTERESTS: Proprietary Members: Rafael Enrique Medina Elvir, Fernando Alejandro García Merino; as Alternate Members: Marcia Raquel Alquino Valle. ON BEHALF OF NATIONAL INTERESTS: Proprietary Members: Walter Armando Paguada (President), María Ubaldina Martínez Molina; as Alternate Members: Alejandro Antonio Young Portillo, Martha Molina Mejía and Ogla Reyes Cruz. and as guarantor of the process Attorney Lesly Sarahí Cerna, in her capacity as Secretary of State in the Offices of Labor and Social Security, Attorney Emilson Motiño Rodríguez, Undersecretary of Labor Relations and Licenciado Percy Durón Rubio, Undersecretary of Employment and Social Security; who, acting in good faith and demonstrating the capacity that is present in each of the sectors they represent to reach consensus in benefit of the Honduran population, transcribe the minutes that account for the Hearing in which the following decisions were deliberated and made: I.- Verification of Quorum. By means of roll call and filing of account, as well as the Attendance Register List duly signed by those present, it was verified that the representatives named in the preamble of this Minutes are present in representation of each Sector and consequently, sufficient quorum exists to deliberate and decide the scheduled matters with right of voice and vote without any restriction, those who had been duly and legally convened. II.- Opening of the Session and Invocation to God: Having verified the quorum, the President of the Commission, Lic. Walter Armando Paguada proceeded to declare the Session open, welcoming those present and making the respective invocation to God. Thereupon, the floor was given to Ms. Minister Attorney Lesly Sarahí Cerna, who offered words of welcome to each of those present, at the same time making a call to the Commission on the importance of reaching a final consensus regarding the setting of the Minimum Wage for the year two thousand twenty-two (2022).- III.- Appointment of Secretary of Minutes Ad Hoc: By unanimous vote the members of the Commission agree: 1) To appoint Attorney María Ubaldina Martínez Molina as Secretary of Minutes Ad Hoc, in order to prepare the corresponding Minutes. IV.- Reading and Approval of the Agenda: In the use of the word, the President of the Negotiating Commission proceeds to read the Agenda to be Developed, which, once read and asking each sector if it accepts the proposed agenda, without observations thereto, is approved unanimously by the members of the Negotiating Commission, proceeding to its development. V.- Reading, Discussion and Approval of the Previous Minutes. Having granted the use of the word again to the Secretary of Minutes, who reads the previous Minutes which is registered with number IV, submitted to discussion and approval, it is approved and ratified, finally proceeding to its signature. VI.- Bipartite Presentation of Proposal for the Setting of Minimum Wage: In the use of the word, the coordinators of the employer and worker sectors present to this Commission the proposal for the setting of the Minimum Wage for the years 2022 and 2023, which, widely discussed by unanimous vote, the Minimum Wage Commission agrees:

• 1)

  To fix the Adjustment to Minimum Wage for two years, which shall enter into force as of the first (01) day of January of two thousand twenty-two (2022), and likewise as of the first (01) day of January of two thousand twenty-three (2023), respectively, in accordance with the percentages described in the following table:

• 2)

  Due to the negotiation of minimum wage adjustment percentages, the Minimum Wage Table is described that shall govern throughout the country for the years 2022 and 2023 in accordance with the following economic activities and number of workers: MINIMUM WAGE TABLE FOR THE YEAR 2023 MINIMUM WAGE TABLE FOR THE YEAR 2022

• 3)

  The adjustment aforementioned corresponding to the months of January, February, and March of the year 2022 shall be paid in deferred form during the months of April, May, and June of this year.

• 4)

  It is agreed to establish a Safeguard Clause that indicates that in the case that the year-over-year inflation index recorded in the month of December 2022, issued by the Central Bank of No. BRANCH OF ECONOMIC ACTIVITY COMPANY SIZE BY NUMBER OF WORKERS MONTHLY MINIMUM WAGE MINIMUM WAGE 2023 ORDINARY WORKING DAY OF 8 WORKING HOURS MINIMUM WAGE PER HOUR From 1 to 10 7,802.20 260.07 32.51 From 11 to 50 8,255.64 275.19 34.40 From 51 to 150 9,041.89 301.40 37.67 From 151 and beyond 9,915.61 330.52 41.32 From 1 to 10 10,659.26 355.31 44.41 From 11 to 50 11,016.61 367.22 45.90 From 51 to 150 12,985.89 432.86 54.11 From 151 and beyond 14,878.19 495.94 61.99 From 1 to 10 10,462.78 348.76 43.59 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 11,003.11 366.77 45.85 From 11 to 50 11,371.96 379.07 47.38 From 51 to 150 13,404.77 446.83 55.85 From 151 and beyond 15,358.14 511.94 63.99 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,165.40 438.85 54.86 From 151 and beyond 15,083.88 502.80 62.85 From 1 to 10 10,806.62 360.22 45.03 From 11 to 50 11,168.89 372.30 46.54 From 51 to 150 13,041.26 434.71 54.34 From 151 and beyond 14,526.61 484.22 60.53 From 1 to 10 10,904.88 363.50 45.44 From 11 to 50 11,270.42 375.68 46.96 From 51 to 150 13,285.08 442.84 55.35 From 151 and beyond 15,220.99 507.37 63.42 From 1 to 10 11,101.34 370.04 46.26 From 11 to 50 11,473.51 382.45 47.81 From 51 to 150 13,524.46 450.82 56.35 From 151 and beyond 15,495.25 516.51 64.56 From 1 to 10 10,610.14 353.67 44.21 From 11 to 50 10,965.84 365.53 45.69 From 51 to 150 12,926.02 430.87 53.86 From 151 and beyond 14,809.63 493.65 61.71 From 1 to 10 10,610.14 353.67 44.21 From 11 to 50 10,965.84 365.53 45.69 From 51 to 150 12,770.78 425.69 53.21 From 151 and beyond 14,357.47 478.58 59.82 TTaabbll eeooffmmiinniimmuummwwaa ggeeffoorrtthheeyyeeaarr 2 20 02 23 3 11 Hospital Activities 8 Transportation, Storage and Communications 9 Financial Establishments, Real Estate and Services Provided to Businesses 10 Community, Social and Personal Services, Security and Cleaning 7 Restaurants and Hotels 3 Manufacturing Industry 1 Agriculture, Forestry, Hunting and Fishing 2 Mining and Quarrying 4 Electricity, Gas and Water 5 Construction 6 Wholesale and Retail Trade MINIMUM WAGE TABLE FOR THE YEAR 2023

  3.- The adjustment aforementioned corresponding to the months of January, February, and March of the year 2022 shall be paid in deferred form during the months of April, May, and June of this year. 4.- It is agreed to establish a Safeguard Clause that indicates that in the case that the year-over-year inflation index recorded in the month of December 2022, issued by the Central Bank of Honduras, is greater than the adjustment fixed herein for the year 2023, an adjustment equal to the percentage of inflation recorded must be applied, for which the respective agreement shall be issued through the Secretariat of Labor and Social Security, with updated values.

• 5)

  The Commission shall forward this draft agreement to the Secretariat of State in the Offices of Labor and Social Security in order that it approves it and elevates it to the Presidency of the Republic, setting forth the reasons it deems pertinent.

• 6)

  That once the agreement is issued by the Executive Branch, it shall be published in the Official Gazette La Gaceta. VII.- Closing of the Session: With no further business to conduct, the hearing is closed in the same place and date of its opening at five fifty in the afternoon (05:50 pm), signing for record at the margin and foot of each useful page. ------------------------------------------------------------- Last Line ------------------------------------------------------------------------ ON BEHALF OF WORKER INTERESTS MARIO DE JESÚS SALES JOSUÉ ORELLANA Proprietary Member - CTH Alternate Member - CTH CONSTANTINO LÓPEZ ARIAS Proprietary Member - CUTH BENJAMÍN VÁSQUEZ GUTIERREZ JOSÉ HUMBERTO LARA Proprietary Member - CGT Alternate Member - CGT ON BEHALF OF EMPLOYER INTERESTS

  FERNANDO ALEJANDRO GARCÍA MERINO MARCIA RAQUEL AQUINO VALLE Proprietary Member Alternate Member COHEP COHEP RAFAEL ENRIQUE MEDINA ELVIR Proprietary Member COHEP ON BEHALF OF PUBLIC INTERESTS WALTER ARMANDO PAGUADA ALEJANDRO ANTONIO JESÚS YOUNG Proprietary Member Alternate Member STSS STSS President of the Commission MARÍA UBALDINA MARTÍNEZ MOLINA OGLA REYES CRUZ Proprietary Member Alternate Member STSS STSS MARTHA MOLINA MEJÍA Alternate Member STSS