Braskem (NYSE: BAK) unit Braskem Idesa skips interest on 2032 secured notes

Rhea-AI Filing Summary

Braskem S.A. reports that its subsidiary Braskem Idesa S.A.P.I. did not make the scheduled interest payment due on February 20, 2026 on its Senior Secured Notes due 2032. Braskem Idesa stated that it remains in negotiations aimed at achieving a sustainable capital structure.

The company says it will keep shareholders and the market informed of any relevant developments, in line with applicable laws and regulations. The notice also reiterates that any forward-looking statements are subject to significant risks and uncertainties outside the company’s control.

Positive

• None.

Negative

• Braskem Idesa’s non-payment of scheduled interest on its Senior Secured Notes due 2032 indicates heightened financial stress at the subsidiary and introduces meaningful uncertainty around ongoing capital structure negotiations.

Insights

Credit & capital structure analyst

Missed interest payment at Braskem Idesa raises credit and restructuring risk.

The disclosure that Braskem Idesa did not pay interest due on its Senior Secured Notes due 2032 signals financial stress at the subsidiary level. Management explicitly links this situation to ongoing negotiations over a sustainable capital structure.

Non-payment on secured notes is typically a serious event for creditors, potentially involving waivers, amendments or broader liability management. The filing does not describe the legal status of the notes after this non-payment or any cross-effect on Braskem S.A., so the overall impact depends on future agreements.

Future communications from Braskem about the evolution of these capital structure negotiations, and any updates in subsequent reports, will be key to understanding how obligations linked to the 2032 notes are ultimately addressed.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2026

(Commission File No. 1-14862 )

BRASKEM S.A.

(Exact Name as Specified in its Charter)

N/A

(Translation of registrant's name into English)

Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ___X___       Form 40-F ______

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7). _____

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ______       No ___X___

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.

 

NOTICE TO THE MARKET

São Paulo, February 20, 2026 - Braskem S.A. ("Braskem" or "Company") (Ticker B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), in continuity with the Notices to the Market released on August 28, September 8, and November, 19, 2025, it hereby informs its shareholders and the market in general that Braskem Idesa S.A.P.I. (“Braskem Idesa”), announced the non-payment of the scheduled interest payment due on February 20th regarding its Senior Secured Notes due 2032.

Additionally, Braskem Idesa informed that it continues in negotiations for its sustainable capital structure.

Braskem will keep the market informed of any relevant developments on the matter, in compliance with applicable laws and regulations.

For more information, please contact Braskem's Investor Relations Department by phone at +55 (11) 3576-9531 or by email at braskem-ri@braskem.com.br

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: February 20, 2026

	BRASKEM S.A.
	By:	/s/     Felipe Montoro Jens
		Name:	Felipe Montoro Jens
		Title:	Chief Financial Officer

DISCLAIMER ON FORWARD-LOOKING STATEMENTS

This Notice to the Market may contain forward-looking statements. These statements are not historical facts, but rather are based on the current view and estimates of the Company's management regarding future economic and other circumstances, industry conditions, financial performance and results, including any potential or projected impact regarding the geological event in Alagoas and related legal procedures on the Company's business, financial condition and operating results. The words “project,” “believe,” “estimate,” “expect,” “plan”, “objective” and other similar expressions, when referring to the Company, are used to identify forward-looking statements. Statements related to the possible outcome of legal and administrative proceedings, implementation of operational and financing strategies and investment plans, guidance on future operations, the objective of expanding its efforts to achieve the sustainable macro objectives disclosed by the Company, as well as factors or trends that affect the financial condition, liquidity or operating results of the Company are examples of forward-looking statements. Such statements reflect the current views of the Company's management and are subject to various risks and uncertainties, many of which are beyond the Company’s control. There is no guarantee that the events, trends or expected results will actually occur. The statements are based on various assumptions and factors, including, but not limited to, general economic and market conditions, industry conditions and operating factors, availability, development and financial access to new technologies. Any change in these assumptions or factors, including the projected impact from the joint venture and its development of technologies, from the geological event in Alagoas and related legal procedures and the unprecedented impact on businesses, employees, service providers, shareholders, investors and other stakeholders of the Company could cause effective results to differ significantly from current expectations. For a comprehensive description of the risks and other factors that could impact any forward-looking statements in this document, especially the factors discussed in the sections, see the reports filed with the Brazilian Securities and Exchange Commission (CVM). This Notice to the Market does not constitute any offer of securities for sale in Brazil. No securities may be offered or sold in Brazil without being registered or exempted from registration, and any public offer of securities carried out in Brazil must be made through a prospectus, which would be made available by Braskem and contain detailed information on Braskem and its management, as well as its financial statements.

FAQ

What did Braskem S.A. disclose about Braskem Idesa’s debt in this 6-K?

Braskem S.A. disclosed that subsidiary Braskem Idesa did not pay the scheduled interest due on February 20, 2026 on its Senior Secured Notes due 2032, and that Braskem Idesa is negotiating a sustainable capital structure.

Which Braskem Idesa securities were affected by the missed interest payment?

The missed payment relates specifically to Braskem Idesa’s Senior Secured Notes due 2032. The company reported that the scheduled interest payment with a due date of February 20, 2026 was not made, highlighting stress around this particular secured debt instrument.

Is Braskem Idesa working on a debt or capital restructuring plan?

Yes. Braskem stated that Braskem Idesa continues negotiations aimed at achieving a sustainable capital structure. This language suggests ongoing discussions with relevant stakeholders to adjust its financial obligations or structure following the missed interest payment.

How did Braskem say it will communicate future developments about Braskem Idesa?

Braskem committed to keep shareholders and the market informed of any relevant developments regarding Braskem Idesa’s situation. It emphasized that future information will be provided in accordance with applicable laws and regulations governing market disclosure obligations.

Does this Braskem 6-K include any offer or sale of securities in Brazil?

No. The notice explicitly states it does not constitute an offer of securities for sale in Brazil. It reiterates that any securities offer there would require registration or exemption and a prospectus containing detailed company and financial information.

What caution did Braskem provide regarding forward-looking statements in this notice?

Braskem warned that any forward-looking statements reflect current management views and are subject to numerous risks and uncertainties. It highlighted economic conditions, industry factors, legal proceedings and technology developments as elements that could cause actual results to differ significantly.