Minimum Wage Table 2024 (includes Increase Approved for 3 Years for the Maquilas Sector)

Approve the Adjustment to the Minimum Salary for the period of two (02) years, which shall enter into effect as of January 1st, 01 of the year 2024 until December 31st of the year 2025 respectively in accordance with the percentages in the following table: THEREFORE: In exercise of its powers and in application of Convention 100 of Labor, articles 1, 128 numeral 5) and 245 numeral 42), 246, 24 of the Republic; 1, 317, 381, 382 and 383 of the Labor Code Minimum 117, 118 and 119 of the General Law of Administration IT IS AGREED:

Approve the Adjustment to the Minimum Salary for which shall enter into effect as of January 1st, 01 of the year of the year 2025 respectively in accordance with the percentages Table of Percentage of Adjustment to Minimum Salary Categories Years 2024 2025 From 1 to 10 workers 5.5% 5.5% From 11 to 50 workers 5.5% 5.5% From 51 to 150 workers 6.5% 6.5% From 151 workers and onward 7% 7%

Approve the New Table of Minimum Salary which years 2024 and 2025, in accordance with the economic activities which shall enter into effect as of January 1st of year 2024 in --

Approve the New Table of Minimum Salary that shall govern throughout the country for the years 2024 and 2025, in accordance with the economic activities and number of workers, which shall enter into effect as of January 1st of year 2024 in the following manner: Civic Governmental Center "José Cecilio del Valle" Building Lower Body B, Boulevard Juan Pablo II Civic Governmental Center "José Cecilio del Valle" Building Lower Body B, Boulevard Juan Pablo II Tegucigalpa, Honduras, Central America --

That, for the Agro-industrial Sector, the minimum salary shall be classified in accordance with the category "Agriculture, Forestry, Hunting and Fishing". It is understood by Agro-industry, the enterprises that include production in the field and industrial transformation of agricultural raw materials. It is determined to clarify that in the case of agro-industrial enterprises dedicated to the production of food goods and raw materials of agricultural origin, the level of minimum manufacturing salary shall be paid to workers in the industrial area and the level of Agriculture, Livestock, Forestry, Hunting and Fishing to workers in the agricultural area.

It is agreed to establish as a Safeguard Clause that indicates that in case the year-on-year inflation index recorded in the month of December 2024, issued by the Central Bank of Honduras (BCH), is greater than the adjustment herein fixed for the year 2025, the adjustment equal to the percentage of the inflation index recorded shall be applied, for which the respective Agreement shall be issued ex officio through the Ministry of Labor and Social Security (SETRASS), with the updated values.

Approve the adjustment to the Minimum Salary for a period of three (03) years for the Textile Manufacturing Sector and other companies that operate in Free Trade Zones as of January 1st of the year 2024 and until December 31st of the year 2026 in accordance with the percentages described in the following table:

The adjustment hereinbefore agreed upon for all productive sectors corresponding to the months of January and February of the year 2024, shall be paid in deferred form no later than April 30th of the present year.

For the Textile Manufacturing Sector and other companies that operate in Free Trade Zones it is agreed to establish as a safeguard clause that in case the year-on-year inflation index recorded by the Central Bank of Honduras (BCH) as of December 31st of one of the Civic Governmental Center "José Cecilio del Valle" Building Lower Body B, Boulevard Juan Pablo II Tegucigalpa, Honduras, Central America

That, for the Agro-industrial Sector, the minimum salary shall be classified in accordance with the category "Agriculture, Forestry, Hunting and Fishing". It is understood by Agro-industry, the enterprises that include production in the field and industrial transformation of agricultural raw materials. It is determined to clarify that in the case of agro-industrial enterprises dedicated to the production of food goods and raw materials of agricultural origin, the level of minimum manufacturing salary shall be paid to workers in the industrial area and the level of Agriculture, Livestock, Forestry, Hunting and Fishing to workers in the agricultural area. Civic Governmental Center "José Cecilio del Valle" Building Lower Body B, Boulevard Juan Pablo II

It is agreed to establish as a Safeguard Clause that indicates, that in case the year-on-year inflation index recorded in the month of December 2024, issued by the Central Bank of Honduras (BCH), is greater than the adjustment herein fixed for the year 2025, apply the adjustment equal to the percentage of the inflation index recorded, for which it shall be necessary to issue ex officio the respective Agreement through the Ministry of Labor and Social Security (SETRASS), with the updated values.

Approve the adjustment to the Minimum Salary for a period of three (03) years for the Textile Manufacturing Sector and other companies that operate in Free Trade Zones as of January 1st of the year 2024 and until December 31st of the year 2026 in accordance with the percentages in the following table: YEAR MONTHLY MINIMUM SALARY From January 1st to December 31st of 2024 6.5% From January 1st to December 31st of 2025 7.5% From January 1st to December 31st of 2026 8%

The adjustment hereinbefore agreed upon for all productive sectors corresponding to the months of January and February of the year 2024, shall be paid in deferred form no later than April 30th of the present year.

For the Textile Manufacturing Sector and other companies that operate in Free Trade Zones it is agreed to establish as a safeguard clause that in case the year-on-year inflation index recorded by the Central Bank of Honduras (BCH) as of December 31st of one of the years previously agreed upon is greater than the increase agreed upon for the subsequent year, the agreed percentage plus the differential of the year-on-year inflation percentage resulting from the previous year shall be applied automatically as an increase or wage adjustment. The Ministry of Labor and Social Security (SETRASS), shall issue ex officio, the respective Agreement formalizing the increase due to inflation differential no later than January 15th of the year in question.

The General Directorate of Salaries and the General Directorate of Labor Inspection shall be responsible for monitoring strict compliance with the payment of minimum salaries in accordance with the legal norms established, guaranteeing previously agreed upon is greater than the increase agreed upon for the subsequent year, the agreed percentage plus the differential of the year-on-year inflation percentage resulting from the previous year shall be applied automatically as an increase or wage adjustment. The Ministry of Labor and Social Security (SETRASS), shall issue ex officio, the respective Agreement formalizing the increase due to inflation differential no later than January 15th of the year in question.

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 and female labor for work of equal value.

The Government of the Republic through the Secretariat of Labor and Social Security (SETRASS) shall promote and articulate from within its competence the necessary approaches so that workers of the Textile Maquiladora Sector and their dependents, with the purpose of reducing the high rate of families without housing, may access the financing programs that the Government of the Republic has in place for this purpose. The Honduran Association of Maquiladores (AHM) shall constitute a fund of Twenty-Five Million Lempiras (L.25,000,000.00) to finance the payment of premiums, closing costs, or other costs associated with the acquisition of housing from social housing projects approved by the Bipartite Commission, for workers employed in companies affiliated with the aforementioned Association. Once this fund is exhausted, the Honduran Association of Maquiladores (AHM), depending on the economic capacity it has, may expand it. The Bipartite Commission shall prepare a Regulation for access to and allocation of resources from said fund. The Honduran Association of Maquiladores (AHM) commits to making the resources of this fund available to workers within the term established in the Regulation.

The Government of the Republic through the Secretariat of Labor and Social Security (SETRASS) shall promote and articulate the alliance and execution of tripartite agreements between the National Supplier of Basic Products (BANASUPRO), the Honduran Association of Maquiladores (AHM), and said Secretariat, with the purpose of providing workers with other options within industrial parks and areas of greater concentration of workers of the Textile Maquiladora Sector for the acquisition at low cost of products that make up the basic basket.

The Textile Maquiladora Sector and other companies operating in Free Trade Zones and the Labor Sector, together with the Secretariat of Labor and Social Security (SETRASS), agree to respect and promote the Bipartite Wage Agreement and other Mechanisms for the Promotion of Investment, Protection and Development of Decent Employment, Health and Safety at Work, and Access to Decent Housing for Workers of the Honduran Textile Maquiladora Sector.

This Agreement is effective immediately and shall be published in the Official Gazette La Gaceta. Given in the city of Tegucigalpa, municipality of the Central District, on the twenty-seventh day of the month of February of the year two thousand twenty-four (2024). BE IT 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