Post-employment benefits –

The Group recognizes the liability and corresponding impacts to profit and loss as well as comprehensive income regarding to the seniority premiums to be paid to its employees. This benefit is determined considering the years of service and the compensation from the employees.

The components of the defined benefit liability for the periods of 2020, 2019 and 2018, are as follows:

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit liability and its components:

The following were the principal actuarial assumptions at the reporting date (expressed as weighted averages):

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation considering a change of ±0.50% in the discount rate.