BRASKEM SA SEC Filings

Braskem S.A. reported that credit rating agency Fitch Ratings has revised the company’s global corporate credit rating to CC. A CC rating typically signals very high credit risk, meaning the agency sees the company’s debt as being under significant pressure.

Braskem states that it remains committed to its stakeholders and is focusing on resilience and transformation initiatives. The company aims to mitigate the significant effects of the prolonged global downturn in the petrochemical industry and to strengthen the competitiveness of the Brazilian chemical sector.

Braskem S.A. discloses new long-term related-party contracts with Petróleo Brasileiro S.A. – Petrobras, a shareholder with significant influence, covering the supply and storage of petrochemical naphtha in Brazil. From January 1, 2026 to December 31, 2030, Braskem will buy naphtha from Petrobras for its São Paulo Petrochemical Complex in annual volumes between 1,500,000 and 1,700,000 tons, with pricing based on international references and the option to negotiate extra volumes.

Additional purchase agreements cover naphtha supplied via maritime transport for the Bahia and Rio Grande do Sul complexes, with contractual volumes between 280,000 and 2,016,000 tons per year, and a separate contract for the Rio Grande do Sul plant via REFAP with stepped annual volumes from 100,000 up to 300,000 tons. A storage agreement allocates REFAP tank space for naphtha owned by Braskem, starting at 80,000 m³ and later decreasing to 36,000 m³. Braskem states that Petrobras and its managers did not take part in Braskem’s decision process or negotiations and that pricing is referenced to international markets.

Braskem S.A. filed a Form 6-K describing new related-party supply contracts with Petróleo Brasileiro S.A. – Petrobras, a shareholder with significant influence over Braskem. The companies agreed on three long-term contracts for Petrobras to supply polymer-grade propylene from the Duque de Caxias (REDUC), Capuava (RECAP) and Alberto Pasqualini (REFAP) refineries.

The contracts run from May 18, 2026 to April 30, 2031, with pricing based on international price references. Contracted volumes include up to 100,000 tons per year from REDUC and up to 140,000 tons per year from RECAP, while REFAP volumes will follow specific provisions in the agreements. The contracts allow negotiation of additional volumes and possible transfer of obligations between existing propylene contracts. Braskem states that Petrobras and its management did not participate in Braskem’s internal decision process or negotiations as its representatives, and management justifies the terms as purchases at international prices.

Braskem S.A. reports new related-party supply contracts with shareholder Petrobras covering key feedstocks and hydrogen through 2036. Braskem will buy ethane and propane from Petrobras from January 1, 2026 to December 31, 2036, with prices referenced to international benchmarks. Contracted volumes are 580,000 tons per year of ethylene equivalent from 2026–2028, rising to 725,000 tons per year from 2029–2036, to meet demand at Braskem’s Rio de Janeiro petrochemical plant and its planned ethylene and polyethylene capacity expansion project.

Petrobras may choose to supply only ethane; if it does, Braskem will buy an additional 60,000 tons per year of propene for the period this option is used. A second contract covers Petrobras’ purchase of 3,060 tons per year of hydrogen from Braskem over the same 2026–2036 term, with the possibility of additional volumes by mutual agreement and with either party able to terminate hydrogen obligations from 2029 onward. Braskem states Petrobras and its management did not take part in Braskem’s internal decision-making or negotiations.

Braskem S.A. reports that shareholder Petróleo Brasileiro S.A. – Petrobras has updated it on negotiations involving Braskem’s ownership structure. According to Petrobras, the fund Shine I Fundo de Investimento em Direitos Creditórios de Responsabilidade Limitada (FIDC) has submitted a potential transaction involving Braskem to Brazil’s antitrust authority, CADE, with Petrobras acting as a consenting intervenor, based on the terms of a possible new shareholders’ agreement that still requires internal Petrobras approvals.

Petrobras states that any commitment to a new Braskem shareholders’ agreement will depend on the final terms of the potential transaction, analysis of its pre-emptive and tag-along rights under the current agreement, and completion of internal and regulatory approvals. Petrobras emphasizes that it will continue to monitor the negotiations and may choose either to exercise its rights under the current agreement or to enter into a new agreement, and that any final decisions will follow governance practices and be disclosed to the market. Braskem plans to keep investors informed of any material developments.

Braskem S.A. reports that Brazilian Law No. 15,294/25 has been published, creating the Special Sustainability Program for the Chemical Industry (PRESIQ), an incentive regime aimed at supporting the country’s chemical sector. PRESIQ will run from January 1, 2027 to December 31, 2031 and includes an industrial modality, tied to the acquisition of certain chemical products, and an investment modality focused on expanding or modernizing installed capacity.

The company also notes that under the existing Special Regime for the Chemical Industry (REIQ), the current rate of 0.73% will be maintained for the year 2026. Braskem states it will keep shareholders and the market informed of any material developments related to these measures.

Braskem S.A. filed a report as a foreign private issuer and disclosed a material fact to shareholders and the market. The company states that it has entered into long-term contracts with Petróleo Brasileiro S.A. – Petrobras covering Braskem’s industrial plants, signaling a continuing commercial relationship between the two companies.

The disclosure is accompanied by an extensive forward-looking statements notice. Braskem explains that projections and expectations depend on economic and industry conditions, operating factors, technology development, financing access and the evolution of the geological event in Alagoas and related legal procedures. The company highlights that actual results may differ significantly from current expectations and notes that this communication is not an offer of securities in Brazil.

Braskem S.A. reported that it received letters from Novonor S.A. – Em Recuperação Judicial and Shine I Fundo de Investimento em Direitos Creditórios (FIDC), advised by IG4 Sol. Ltda., describing a binding agreement and exclusivity arrangements linked to Braskem shares. The FIDC signed a definitive binding agreement with creditor banks of NSP Investimentos S.A. and other Novonor group companies to acquire all bank credits against those debtors that are secured, among other guarantees, by shares of Braskem held by NSP.

The FIDC also entered into a 60-day exclusivity agreement with Novonor to negotiate a potential transaction involving these secured credits and Braskem shares. According to the correspondence, at the end of any implemented potential transaction, an investment fund advised by IG4 or its affiliate would hold Braskem common and preferred shares representing 50.111% of the voting capital and 34.323% of the total capital, while the Novonor group would retain preferred shares representing 4% of Braskem’s total capital with governance rights limited to those in applicable rules. Braskem stated it will keep the market informed of material developments.

Braskem S.A. filed a Form 6-K outlining its annual calendar of corporate events for the 2026 reference year. The company plans to release its quarterly financial statements on May 12, 2026 for the first quarter, August 12, 2026 for the second quarter, and November 11, 2026 for the third quarter. It also scheduled its Annual Shareholders’ Meeting for April 29, 2026, with the management proposal and call notice to be submitted on March 27, 2026, and the meeting minutes to be submitted on April 29, 2026. A public meeting with analysts is indicated for November 12, 2026, with specific details to be defined. The filing confirms the company’s forward-looking statements disclaimer, emphasizing that future results may differ due to economic conditions, legal proceedings related to the geological event in Alagoas, and the impacts of COVID-19.