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BRASKEM S.A. (BAK) and certain subsidiaries filed a petition for Extrajudicial Reorganization in São Paulo court to provide a protected framework to restructure unsecured financial obligations of approximately US$ 10.9 billion (the “Subject Claims”). The filing immediately suspends enforceability of these obligations.
Braskem reports that unsecured creditors holding 39.6% of the Subject Claims have signed onto the filed plan, a level sufficient to submit the petition. Under Brazilian law, Braskem has 90 days to obtain the required creditor support for an Updated Plan, which, if approved, would bind 100% of the Subject Claims to new payment terms.
The plan outlines parameters for negotiating the Updated Plan, including extension and amendment of maturities with a defined relief period, potential liquidity support from main shareholders, possible equity capital injections if agreed metrics are not met, and potential equitization of a portion of the Subject Claims. The company states the process is strictly financial and does not affect obligations to suppliers, customers, and other stakeholders. Braskem notes support from its main shareholders, Shine I Fundo de Investimento em Participações de Responsabilidade Limitada and Petróleo Brasileiro S.A. – Petrobras.
Braskem S.A. (BAK) reports that its Board of Directors approved filing a petition for an extrajudicial reorganization under Brazilian Law 11,101/05. The process will cover a restructuring of Braskem’s unsecured financial obligations in an approximate amount of US$10.9 billion, referred to as the Subject Claims.
Braskem states that this reorganization has a limited, strictly financial scope and does not include obligations to suppliers, customers, or other stakeholders, which remain in effect and continue to be fulfilled according to existing contracts. The company plans to proceed once documentation is formalized and will provide further updates through its investor relations channels.
BRASKEM S.A. (BAK) reports on the status of its capital structure negotiations after a Brazilian stock exchange request for clarification about a media article suggesting an imminent out-of-court reorganization. The company states it has been working with financial and legal advisors since 2025 to assess alternatives to optimize its capital structure.
Braskem explains it is in ongoing discussions with financial creditors and has received indicative, non-binding restructuring proposals that may include capitalization and granting security interests over assets, which are still under analysis. Brazilian courts granted Precautionary Injunctive Relief staying enforcement actions for 60 days, and related entities filed a Chapter 15 petition in the U.S., where a parallel preliminary stay was granted.
The company indicates it is evaluating possible protective measures as the stay period nears expiration but confirms that, as of the report date, no decision has been reached on the terms of any restructuring. Braskem emphasizes its commitment to pursuing a consensual, structural and orderly capital structure solution while maintaining normal operations.
BRASKEM S.A. (BAK) announced that its Board of Directors approved a change of independent auditor as part of a new shareholding, control and governance arrangement. Deloitte Touche Tohmatsu Auditores Independentes Ltda. was engaged to audit the consolidated financial statements and quarterly information for fiscal years 2026 through 2028, in accordance with Brazilian and U.S. laws and regulations.
Deloitte will replace KPMG Auditores Independentes, which agreed with the rationale for the change. Deloitte is scheduled to begin work with Braskem’s quarterly financial information for the third quarter of 2026. The company directed investors to its Investor Relations department for additional information.
Braskem S.A. reported that its joint venture Braskem Idesa S.A.P.I. has agreed a comprehensive, consensual financial restructuring with shareholders, a substantial majority of noteholders, and its term loan lender. The plan will reduce Braskem Idesa’s senior debt from about US$2.5 billion to about US$1.6 billion, a significant deleveraging supported by new funding.
To implement the agreement, Braskem Idesa has begun prepackaged Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas, with completion expected in approximately 60 to 90 days. Braskem, as controlling shareholder, will contribute US$476 million, including about US$126 million already provided, and will retain a majority stake after completion. Braskem Idesa’s operations are expected to continue normally and without interruption during the process.
Braskem S.A. (BAK) reports that Fitch Ratings revised its global corporate credit rating to RD, reflecting non-payment of certain financial obligations after the expiration of the contractually agreed cure period. These obligations were previously discussed in the company’s Quarterly Information as of June 30, 2026.
The company also states that the 2nd Bankruptcy and Judicial Reorganization Court of São Paulo granted its request for Precautionary Injunctive Relief, ordering a 60-day stay of enforcement actions and attachments by creditors invited to a mediation proceeding, including with respect to those unpaid financial obligations. Braskem says it remains committed to negotiations with financial creditors to seek a consensual and orderly solution for its capital structure while maintaining normal operations.
Braskem S.A. reports a strong improvement in 2Q26, with consolidated recurring EBITDA of US$1,043 million and an EBITDA margin of 24.2%, mainly driven by higher international chemical and resin spreads following Middle East-related trade disruptions.
Brazil/South America recurring EBITDA rose to US$869 million, supported by better spreads despite lower domestic resin and chemical volumes. USA & Europe delivered recurring EBITDA of US$147 million, helped by higher polypropylene spreads, while Mexico reached US$57 million as PE spreads expanded and liquidity-preservation measures continued.
Operating cash generation was constrained by a US$547 million working-capital consumption from higher inventories and prices, resulting in US$210 million of recurring cash generated. The total provision related to the Alagoas geological event stands at R$18.2 billion, with approximately R$14.6 billion already disbursed and a net provision balance of about R$3.2 billion. Management highlights that the petrochemical cycle remains structurally challenging, with global overcapacity and moderate demand, and frames 2Q26 as a tactical opportunity rather than a structural shift.
Braskem S.A. reported strong operating results for 2Q26 but remains under significant financial stress. Consolidated Recurring EBITDA reached US$1.043 billion (R$5.253 billion), mainly from wider chemical and petrochemical spreads, especially in Brazil/South America, where Recurring EBITDA was US$869 million (R$4.4 billion). Net income attributable to shareholders was US$664 million (R$3.3 billion). Operating cash flow was R$1.928 billion, and recurring cash generation was about R$1.1 billion, a sharp improvement versus the consumption reported in 1Q26.
Despite the earnings rebound, leverage and liquidity remain pressured. As of June 30, 2026, gross debt was US$10.3 billion, adjusted net debt US$9.5 billion, and corporate leverage 6.74x. The company is pursuing a capital structure restructuring, supported by advisors, under Brazilian Emergency Injunctive Relief and a U.S. Chapter 15 process that temporarily suspend enforcement actions by certain financial creditors. Credit ratings were revised to C/C(bra) by Fitch and D/brD by S&P. Braskem Idesa missed interest payments on its 2029 and 2032 notes and is being supported by intercompany loans. For the Alagoas geological event, Braskem reports provisions of R$1.543 billion for closure and environmental actions and cumulative PCF disbursements above R$4.2 billion, while noting that future costs could still be significant.
Braskem S.A. reported strong operating recovery for the six months ended June 30, 2026, but alongside severe balance-sheet stress. Consolidated net revenue was R$37,203 million, essentially flat year on year, while gross profit rose to R$6,415 million from R$1,672 million. Net profit attributable to shareholders reached R$4,771 million versus R$431 million a year earlier, lifting earnings per common and class A preferred share to R$5.9882.
Despite this, auditors and management highlight a material uncertainty about going concern. At June 30, 2026, current liabilities exceeded current assets by R$8,701 million on a consolidated basis and shareholders’ equity was negative R$13,087 million. Subsidiary Braskem Idesa is in default on bond interest, with about R$13,874 million of related borrowings mostly reclassified as current. Braskem has drawn a US$1.0 billion stand‑by facility, faces credit-rating downgrades, heavy interest and Alagoas geological-event obligations, and is pursuing a comprehensive capital structure reorganization under Brazilian Protective Injunction and U.S. Chapter 15 proceedings. Management still prepares the accounts on a going-concern basis, but acknowledges that successful restructuring depends on negotiations not fully under its control.
Braskem S.A. furnished a report covering its activities with its own securities and derivatives for July 2026, as required under CVM Resolution #44/2021. The company states that the only operations with securities and derivatives were those listed in the report and provides an individual form showing shares held in treasury, specifically Class “A” preferred shares and their opening and closing balances.
The report is signed by the Chief Financial Officer, Carlos Augusto Machado Pereira de Almeida Brandão, dated August 10, 2026. It also includes a detailed forward-looking statements disclaimer, highlighting that expectations about future performance, legal proceedings related to a geological event in Alagoas, and COVID-19 impacts are subject to significant risks and uncertainties.