Braskem (BRKM5) investor relations material

Executive summary

• Recurring consolidated EBITDA reached $150 million in 3Q25, up 104% sequentially, led by the Brazil-South America segment and higher value-added sales, despite global oversupply and lower spreads.

• Net loss attributable to shareholders was $1 million, mainly due to provisions for the Alagoas geological event and the hibernation of the chlor-alkali plant.

• The quarter was marked by a prolonged industry downturn, with lower utilization rates in Brazil due to scheduled maintenance and demand-driven production optimization.

• The company advanced resilience and transformation programs, including the approval of the Transforma Rio project and anti-dumping measures for PE imports.

• Industry faced moderate global growth, high inflation, elevated interest rates, and geopolitical tensions, impacting demand and profitability.

Financial highlights

• Net revenue was $3.18 billion, up 1% sequentially but down 17% year-over-year; recurring EBITDA was $150 million, up 104% sequentially but down 65% year-over-year.

• Net loss attributable to shareholders was $1 million, a significant improvement from a $45 million loss in 2Q25 and $106 million in 3Q24.

• Operating cash consumption was approximately $62 million (R$334 million), mainly due to higher CAPEX, seasonal investments, and maintenance.

• Corporate leverage rose to 14.76x due to lower trailing 12-month EBITDA.

• Cash position at quarter-end was $1.3 billion, with total liquidity of $2.3 billion including a $1 billion standby credit line.

Outlook and guidance

• Industry conditions expected to remain structurally challenging until at least 2030, with recovery anticipated only after 2029.

• The company remains focused on financial discipline, cash preservation, and execution of its Resilience and Transformation Program.

• Strategic planning incorporates conservative assumptions on rationalization and supply-demand imbalances.

• Ongoing regulatory and market protection measures, such as anti-dumping duties and import tax maintenance, are expected to support the Brazilian chemical sector.

• The Transforma Rio project, with an estimated investment of R$4.2 billion, aims to expand ethylene and polyethylene capacity by 2028.