3Q21 - Braskem reports record-high free cash flow generation of approximately R$3.9 billion on 3Q21 - Earnings Release

EARNINGS RELEASE 3Q21

CONTENTS
1.	3Q21 HIGHLIGHTS .............................................................................................................................	4
	1.1	BRASKEM - CONSOLIDATED ..................................................................................................	4
	1.2	BRASKEM - HIGHLIGHTS BY SEGMENT 3Q21 .................................................................	6
2. OPERATING PERFORMANCE IN 3Q21 BY SEGMENT..............................................................	7
	2.1	BRAZIL ............................................................................................................................................	7
	2.2	UNITED STATES & EUROPE ...................................................................................................	15
	2.3	MEXICO.........................................................................................................................................	18
3.	CONSOLIDATED PERFORMANCE 3Q21 .....................................................................................	23
	A) REVENUE BY REGION ....................................................................................................................	23
	B) CONSOLIDATED COGS...................................................................................................................	24
	C) OTHER REVENUE (EXPENSE), NET............................................................................................	24
	D) RECURRING OPERATING RESULT ............................................................................................	24
	E) NET FINANCIAL RESULT ...............................................................................................................	25
	F) FREE CASH FLOW.............................................................................................................................	27
	G) LIQUIDITY & CAPITAL RESOURCES ........................................................................................	27
	H) INVESTMENTS & VALUE CREATION.........................................................................................	31
4. 2030 & 2050 COMMITMENTS.......................................................................................................	34
	4.1	HEALTH & SAFETY ....................................................................................................................	34
	4.2	FINANCIAL RESULTS ...............................................................................................................	35
	4.3	ELIMINATING PLASTIC WASTE ...........................................................................................	36
	4.4	COMBATING CLIMATE CHANGE...........................................................................................	36
	4.5	OPERATIONAL ECO-EFFICIENCY ........................................................................................	38
	4.6	SOCIAL RESPONSIBILITY & HUMAN RIGHTS................................................................	38
	4.7	SUSTAINABLE INNOVATION ................................................................................................	39
5.	CAPITAL MARKETS ...........................................................................................................................	39
	5.1	RATING .........................................................................................................................................	40
	5.2	BRASKEM MODELING - OUTLOOK 4Q21 vs. 3Q21.......................................................	41
	5.3	INDICATORS...............................................................................................................................	42
LIST OF ANNEXES:....................................................................................................................................	43

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EARNINGS RELEASE 3Q21

FORWARD-LOOKING STATEMENTS

This Earnings Release may contain forward-looking statements. These statements are not historical facts, but 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 from the geological event in Alagoas and related legal procedures and from COVID on the Company's business, financial condition and operating results. The words "project," "believe," "estimate," "expect," "plan" 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, 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 general economic and market conditions, industry conditions and operating factors. Any change in these assumptions or factors, including the projected impact from the geological event in Alagoas and related legal procedures and the unprecedented impact from COVID on businesses, employees, service providers, shareholders, investors and other stakeholders of the Company could cause actual 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).

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EARNINGS RELEASE 3Q21

Braskem reports record-high free cash flow generation of approximately R$3.9 billion

12 p.p. increase in Brazil's market share, due to the return of operations after the scheduled

maintenance turnaround at the petrochemical complex in ABC, São Paulo

1. 3Q21 HIGHLIGHTS

1.1 BRASKEM - CONSOLIDATED

Main Financial Highlights	3Q21	2Q21	3Q20	Chg.	Chg.	9M21	9M20	Chg.
(A)	(B)	(C)	(A)/(B)	(A)/(C)	(D)	(E)	(D)/(E)
In R$ million
Net Revenue	28,299	26,421	15,992	7%	77%	77,413	39,805	94%
COGS	(19,995)	(16,609)	(12,427)	20%	61%	(52,058)	(33,533)	55%
Recurring Operating Result¹	7,670	9,400	3,666	-18%	109%	24,013	6,453	272%
Net Financial Result	(3,103)	957	(1,832)	n.a.	69%	(5,609)	(10,510)	-47%
Net Profit (Loss)²	3,537	7,424	(1,413)	-52%	n.a.	13,455	(7,538)	n.a.
Free Cash Flow Generation³	3,911	1,554	747	152%	424%	7,601	(757)	n.a.
In US$ million
Net Revenue	5,413	4,998	2,972	8%	82%	14,548	7,900	84%
COGS	(3,823)	(3,144)	(2,310)	22%	66%	(9,785)	(6,686)	46%
Recurring Operating Result¹	1,469	1,776	681	-17%	116%	4,510	1,249	261%
Net Financial Result	(594)	182	(334)	n.a.	77%	(1,050)	(2,127)	-51%
Net Profit (Loss)²	677	1,409	(258)	-52%	n.a.	2,535	(1,504)	n.a.
Free Cash Flow Generation³	748	294	139	155%	439%	1,432	(161)	n.a.
Adjusted Net Debt/Recurring Operating Result (x)	0.83x	1.10x	4.98x	-24%	-83%	0.83x	4.98x	-83%
¹Operating Result (-)non-recurring expenses, including expenses related to the geological event in Alagoas, PIS and COFINS credits (excluding the ICMS calculation base) and
others
²Net Profit (Loss) Attributable to Company's Shareholders
³Free Cash Flow Generation (=) Net Cash Generated from Operating Activities (-) Leniency Agreement (+) effects of reclassifications between the lines of Financial
Investments (includes LFT's and LF's) and Cash and Cash Equivalents (-) Judicial Deposits - Other Financial Assets (+) Net Cash used in Investing Activities (+) Lease (+)
Revenue to be Performed

• In 3Q21, the Company's recurring Operating Result was US$1,469 million, 17% lower than 2Q21, mainly due to: (i) lower spreads for resins in Brazil, PP in Europe and PE in Mexico, but above the historical average of the past ten years1; and (ii) higher PP sales volume in the United States and Europe. Compared to 3Q20, recurring Operating Result in U.S. dollar increased 116%, due to: (i) better spreads for main chemicals, PE and PVC in Brazil, for PP in the United States and Europe and for PE in Mexico; and (ii) higher sales volume of main chemicals in Brazil and of PP in the United States and Europe due to the recovery in demand after COVID impact. In Brazilian real, recurring Operating Result was R$7,670 million, 18% lower than 2Q21, reflecting the Brazilian real appreciation against the U.S. dollar of 1%, and 109% higher than 3Q20.
• In the quarter, the Company reported Net Income2 of R$3,537 million. Additionally, year-to-date through September, Braskem reported net income of R$13,455 million, representing R$16.913 per common share and class "A" preferred share4.
• The Company's free cash flow generation in 3Q21 was R$3,911 million, representing a historic quarterly record, with return5 on cash flow in the period of 21%.
• In line with its continuous commitment to financial health and to be reassigned as an investment grade company, Braskem continued to reduce its corporate leverage, measured by the ratio of adjusted net debt to recurring Operating Result6 in USD, which ended 3Q21 at 0.83x, declining 24% in relation to 2Q21 (1.10x).
• In September, the risk rating agency S&P Global Ratings upgraded the Company's risk rating on the global

scale to BBB-, with a stable outlook. The agency noted that the upgrade to an investment grade rating reflects the considerable improvement in indicators of profitability and cash generation, Braskem's

1. Considers the period from 2011 to 2020.
2. Based on net income (loss) attributable to the shareholders of the Company.
3. Does not consider the Company's Accumulated Loss in December 2020 in the amount of R$4,530 million.
4. For the class "B" preferred shares, the amount is R$0.61 per share.
5. Considers the free cash flow generation of the last 12 months over the Company's market value in the quarter
6. Excludes the Project Finance in Mexico and based on recurring Operating Result.

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EARNINGS RELEASE 3Q21

commitment to deleveraging and the agency's expectation that the Company will continue to benefit from high petrochemical spreads over the coming quarters.

• In September, Braskem Idesa signed the following documents: (i) an amendment to the ethane supply agreement signed with PEMEX with settlement of previously existing contractual pending issues; and (ii) an agreement signed with PEMEX and other government entities that establishes the support measures to build an ethane import terminal with the capacity to meet all of Braskem Idesa's requirements. In October, Braskem Idesa has secured the applicable corporate approvals, including final approval by its shareholders and creditors regarding the Documents signed.
• In October, Braskem Idesa concluded its debt refinancing plan, which involved substituting the remaining balance of US$1.35 billion of the Project Finance with new debt, namely: (i) the bond issue in the amount of US$1.2 billion; and (ii) term loan in the amount of US$150 million. The new funding operations have long debt terms that lengthened the average debt term to 9 years and a weighted average debt cost of exchange variation + 7.1%. With the settlement of the Project Finance debt, the guarantees pledged by Braskem to Braskem Idesa, in the total amount of US$358 million, will be extinguished. The new capital structure of Braskem Idesa includes the issue of debt securities that include a commitment to and interest rates linked to targets for reducing carbon emissions, in line with the Company's long-term sustainable development strategy.
• The Company's class "A" preferred shares (BRKM5) registered a price gain of 131% in the year to October7.

ESG:

• In September, Braskem S.A., through its subsidiary Braskem Netherlands B.V., and SCG Chemicals, one of the largest integrated petrochemical companies in Thailand and an industry leader in Asia, signed a memorandum of understanding for conducting feasibility studies for a joint investment in a new bioethanol dehydration plant in Thailand to produce bioethylene and I'm greenTM biobased polyethylene.
• In November, Braskem S.A., through its subsidiary Braskem Netherlands B.V., and Lummus Technology LLC, a worldwide leader in ethylene, petrochemical, energy transition and other process technologies, executed a memorandum of understanding to jointly license Braskem's green ethylene technology - from ethanol to ethylene - to two projects in different regions of the world: (i) one project under development in North America; and (ii) the project under evaluation in Thailand.
• In the year to September, the recordable and lost-time injury frequency rate stood at 0.84 (events/million hours worked), which is 74.2% below the industry average8 and record for the last 4 years, while the Tier 1 process safety accident rate was 0.08 (events/million hours worked), down 20% from the prior-year period.
• Braskem was recognized by the Office of the High Commissioner for Human Rights and by the UN Global Compact, under the scope of the project Responsible Business Conduct in Latin America and the Caribbean (RBCLAC), for its practices related to protecting human rights in its business activities. The recognition occurred with the presentation of two case studies of actions focusing on human rights in an event commemorating the tenth anniversary of the Guiding Principles on Business and Human Rights.

1. Year-to-datethrough October 29, 2021.
2. The industry average is 3.25 per million hours worked, according to the American Chemistry Council. The most recent data refers to 2018.

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