We are a corporation (sociedade por ações) organized under the laws of Brazil. Our registered office is at Rua Eteno, 1561, Pólo Petroquímico, Camaçari, Bahia, postal code 42810-000, Brazil, and our telephone number at this address is +55 71 3413-2102. Our head office is at Rua Lemos Monteiro, 120 – 24º floor, Butantã, São Paulo, SP, postal code 05501-050, Brazil, and our telephone number at this address is +55 11 3576-9000. We are the largest producer of plastics in the Americas, based on the annual production capacity of our plants, according to CMA. We operate in the first and second generations of the petrochemical industry, with integrated operations in Brazil and Mexico. In the United States and Europe, our operations are directly supplied with raw material for the second generation by non-integrated suppliers. Through fossil, renewable, and recycled raw materials, we offer a broad portfolio of chemicals and plastics transformed by our customers in more than 70 countries into applications such as food packaging, household furniture, industrial and automotive components, paints and coatings, among others. We are the global leader in PE I’m green™ bio-based production, according to CMA, and benefit from our industrial footprint in Brazil, which is one of the largest ethanol producers in the world. Our History In July 2001, in partnership with the Mariani Group, Novonor (formerly called Odebrecht S.A.) acquired a controlling interest in Copene (Camaçari Petrochemical Complex) in the state of Bahia. In August 2002, with the merger of Copene with five other companies, Braskem was created. Between 2006 and 2010, we invested in the consolidation of the petrochemical industry in Brazil. Two relevant steps in this stage of our growth were conducted in partnership with Petrobras, which led to the increase of their stake in the Company: the consolidation of our Southern Complex, which was executed between March 2007 and May 2009; and the acquisition of Quattor, which owned significant assets in São Paulo and Rio de Janeiro, announced in January 2010. This consolidation strengthened the Brazilian petrochemical sector and allowed us to reach a new level of scale to face the challenges of the international market. In February 2010 we began our internationalization strategy, when we announced the acquisition of the PP assets of Sunoco Chemicals and in July 2011, we announced the acquisition of Dow Chemical’s PP business, including four plants (two plants in the United States and two plants in Germany). This acquisition represented an important step in the consolidation of our growth strategy in the Americas, consolidating us as the largest producer of polypropylene in the United States and strengthening our position in Europe. In April 2016, our subsidiary Braskem Idesa, a joint venture with the Mexican Idesa group, reached an important milestone with the production of the first batch of PE in the Mexico petrochemical complex, strengthening our internationalization strategy and ensuring greater access to competitive gas-based feedstocks. In September 2020, we successfully started the greenfield Project Delta to produce PP in La Porte, Texas, with a production capacity of 450 kton per year. We believe that this investment reinforces our PP leadership position in the region and strengthens our strategy to diversify the raw materials matrix and geographic expansion in the Americas. 64 Table of Contents Our renewables operations In September 2010, Braskem started up its green ethylene plant in Triunfo, in the state of Rio Grande do Sul, Brazil, with a capacity to produce 200 kton per year, becoming the world leader producer in biopolymers and products made from renewable sources, according to CMA. In February 2021, we announced a new project at the Triunfo petrochemical complex in Rio Grande do Sul to expand our current production capacity of green ethylene. The project added 60 kton per year to the production of green ethylene in our portfolio and was completed in April 2023. Additionally, in November 2021, Braskem and Lummus Technology LLC (“Lummus”), through our subsidiary Braskem Netherlands B.V., executed a memorandum of understanding to jointly develop and license our green ethylene technology. On April 28, 2022, we entered into a partnership agreement with Lummus, through our subsidiary Braskem Netherlands B.V., to develop and license our green ethylene production technology, reflecting our global interest in the technology. We are a pioneer in the production of resins made from renewable feedstock and have undertaken a commitment to reach production capacity of 1.0 million tons of bioproducts by 2030. Lummus has the technical capacity and experience in licensing to support us in developing and marketing our technology for producing green ethylene. The partnership brings the complementary expertise needed to accelerate the achievement of our commitment, expand the geographic footprint of green ethylene production technology globally and accelerate the use of bioethanol in chemical and plastic products, supporting the industry’s efforts towards a carbon neutral circular economy. In addition, the partnership is aligned with our sustainability objectives. In 2022, we officially announced the establishment of Sustainea, a joint venture between Sojitz and Braskem, which will be responsible for the production and marketing of bioMEG (monoethylene glycol) and bioMPG (monopropylene glycol), cutting-edge plant-based chemicals with lower CO2 production footprints. The joint venture offers two products: (i) bioMEG, a raw material used to produce PET, a product used to create bottles, textiles, and other types of packaging; and (ii) bioMPG, a raw material utilized in industrial, cosmetic, and personal care goods. In August, 2023, we entered into, through our subsidiaries Braskem Netherlands B.V. and Braskem Europe GmbH, a joint venture agreement with Thai Polyethylene Company Limited (“TPE”), a wholly owned subsidiary of SCG Chemicals Public Company Limited (“SCG Chemicals”), to establish Braskem Siam Company Limited (“Braskem Siam”), a joint venture company for conducting the project engineering for a green ethylene from ethanol dehydration plant using the EtE EverGreen™ technology ethanol-to-ethylene process technology. The investment is subject to, among other terms and conditions, approval by competent governance bodies. During 2024, Braskem Siam awarded Toyo Engineering Corporation with the Front End Engineering Design (“FEED”) contract of the project, which will be responsible for development of the extended basic engineering and the estimative for capital expenditures relating to the green ethylene plant in Thailand. The final investment decision (FID) is expected by the end of 2026, and represents an important step in the implementation project of the company's first industrial park in Asia. Our Global Strategy Our global strategic direction is structured around key pillars and foundations focused on strengthening financial capacity and improving our competitiveness position. The strategy seeks to balance profitability and financial health, optimize the current asset portfolio and execute transformative investments to ensure long-term business perpetuity. Resilience and financial health: the Company is implementing initiatives to mitigate the impacts of the industry’s prolonged downcycle through a resilience program (the “Resilience Program”), which has already delivered positive impact on our EBITDA and our cash generation. The Resilience Program encompasses strategic actions across investments and cost optimization, commercial strategy, operational efficiency, supplier negotiations and the engagement and support of the Company on the initiatives to defend and strengthen the Brazilian chemical industry. The program covers the following focus areas, among others: 65 Table of Contents a. Commercial initiatives to have incremental revenue from strategies such as increased volume and trading operations; b. Improvements to the terms of agreements with suppliers and portfolio agreements review, aiming to reduce costs and preserve the profitability of our business; c. Process optimization with efficiency growth, focusing on reducing fixed and variable costs, and increasing revenue; d. Discipline of capital allocation in investments, through the optimization of inventory, capital expenditures, and other cash outlays; e. The following competitiveness defense measures for the chemical industry, which have been essential to partially mitigate the commercial imbalance in the Brazilian domestic market: i. List of Conjunctural Trade Imbalances (LDCC): Inclusion of PE, PP and PVC resins on the List of Conjunctural Trade Imbalances (changing the rate from 12.6% to 20%); ii. PRESIQ (Special Sustainability Program for the Petrochemical Industry): approved the program that is expected to guarantee the industry a financial credit of R$15 billion between 2027 and 2031; iii. REIQ (Special Regime for the Chemical Industry): approved the Complementary Law providing for the increase, from 0.73% to 5.8% of the REIQ from March to December 31, 2026, with a budget limit of R$2 billion for the sector; iv. PE and PVC Antidumping: the Brazilian government approved the application of anti-dumping duties for resins imported from China (21%), Canada and the United States (8.2% to 43.7%), reinforcing the internal commercial defense. Business transformation: the Company is implementing actions to preserve and transform our current business. This includes executing asset strategy, increasing flexibility to gas-based assets and advancing bio-based projects implementation to support long-term competitiveness and value creation. Below we describe certain focus areas: a. The naphtha-based assets strategy considers the focus on cash generation: the Company completed the conversion of the chlor-alkali plant into a distribution unit, increasing flexibility in EDC and ensuring a more sustainable PVC production in Marechal Deodoro – Alagoas; b. The flexibility to gas-based assets aims at the improvement on cost competitiveness: Increase of the ethane-based capacity in Rio Janeiro by 220 thousand tons of ethylene per year under the Transforma Rio project, with a total estimated investment of approximately R$4.2 billion and implementation expected to be completed by the end of 2028; 66 Table of Contents c. The bio-based projects considers the leverage of competitiveness advantage in renewable products: Besides the expansion of our green ethylene capacity to 275 kton per year completed on the second quarter of 2025, Braskem is advancing on its joint-ventures with SCG Chemicals to build a new plant in Thailand, with a capacity to produce 200 kton per year of bio-based ethylene and polyethylene (PE); and joint-venture with Sojitz to build a new plant with capacity to produce 187 kton per year of monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG). For the transformation projects, the following businesses and initiatives support and leverage their implementation: a. Innovation and Technology: the portfolio is designed to meet the current and future needs of our customers and to develop new businesses in bioproducts, creating value for our existing operations and building the Company’s future; b. Climate Change and Circular Economy: strengthening the Company’s integrated ecosystem of sustainable solutions, in alignment with the broader set of ongoing initiatives, promoting climate security and eliminating the plastic waste, together. For the next planning cycle, the Company expects to reinforce its previously defined strategic pillars, with a stronger emphasis on value creation as a core element of its strategic direction. This pillar is expected to focus on reinforcing the Company’s capital structure, ensuring the sustainability of our business. Our Corporate Structure The following chart presents our simplified ownership structure and corporate structure of our principal subsidiaries as of the date of this annual report. The percentages in bold and not in italics represent the direct or indirect percentage of the voting share capital owned by each entity, and the percentages not in bold and italics represent the direct or indirect percentage of the total share capital owned by each entity. 67 Table of Contents For a complete list of our subsidiaries, please see note 2.3 to our audited consolidated financial statements included elsewhere in this annual report. The SEC maintains an internet website at www.sec.gov that contains reports, proxy and information statements, and other information regarding companies that file or furnish documents electronically to the SEC, including us. Our internet website is www.braskem.com.br, and the internet website of our investors relations’ department is www.braskem-ri.com.br. The information included on our internet website, the internet website of our investor relations’ department, or the information that might be accessed through such websites, is not included in this annual report and is not incorporated into this annual report by reference. Our Competitive Strengths Leading Plastics Producer in the Americas We are the largest producer of plastics in the Americas, based on the annual production capacity of our plants, according to CMA. We are the only integrated petrochemical company producing basic chemicals and polymers in Brazil, and the largest producer of PE in Mexico and PP in the United States, according to CMA. Globally, we have total installed capacity of 20,325 kton per year. We produce a diversified portfolio of petrochemical and thermoplastic products, including polyethylene, PE I’m green™ bio-based, polypropylene, and PVC. Our products are typically used in large volume applications, and we benefit from our world-scale plants to enhance our competitiveness. According to CMA, global demand for PE, PP, and PVC in 2025 was estimated to be 121 million metric tons, 89 million metric tons, and 50 million metric tons, respectively. Between 2026 and 2029, global demand for PE, PP, and PVC is expected to grow on average by 2.3%, 2.7%, and 2.4% per year, respectively, according to CMA. This is driven by end market dynamics, global gross domestic product growth, and infrastructure and construction projects spending. Polymers will likely continue to replace traditional materials, such as aluminum, steel, wood, and glass, in applications where they can provide cost advantages and better performance. 68 Table of Contents Global Leader in PE I’m green™ bio-based, Pioneer in Renewable Plastics We are the global leader in PE I’m green™ bio-based production made from ethanol from sugarcane, 100% verified by ASTM D6866 standard of the American Society for Testing and Materials organization, and it is the first PE of renewable origin to be produced in industrial scale in the world, 100% drop in solution, which replaces the traditional alternatives without investment in new technologies. We have developed a global portfolio of clients, and our PE I’m green™ bio-based has around 217 customers in 41 countries for this product. PE I’m green™ bio-based also has a competitive price in comparison with most of the sustainable drop in solutions in the market. We benefit from our presence in Brazil, which is the world’s largest producer of ethanol from sugarcane, with ample access to bio-ethanol feedstock and a renewable energy matrix. Our PE I’m green™ bio-based stands out with distinctive advantages over other alternatives. Compared to biodegradable, recycled, and fossil-based PE, our renewable product offers: (i) a negative carbon footprint, supported by a proven Life Cycle Assessment (“LCA”) methodology based on C14 measurability; (ii) superior feedstock sustainability; (iii) lower operational risk and seamless compatibility with existing equipment due to identical processing requirements; (iv) established, proven technology and scalability; (v) identical properties and applications as fossil-based PE, providing a true drop-in solution; and (vi) enhanced recyclability, as it is 100% recyclable. Benchmark Operator, With World Class Safety Practices and Track Record We are widely recognized as an experienced and capable operator of petrochemicals plants. Our plants have recorded low accident rates and high utilization levels compared to industry peers. For example, our PP plants in the United States, from 2020-2024 achieved an average of 83% of utilization rate in comparison with the average of 81% in the region, according to CMA. Considering PE from Braskem Idesa in Mexico, the comparison is even wider, with an average of 74% from Braskem compared to the average of 51% for the country, considering the same period, according to CMA. Competitive Asset and Raw Material Base Our plants are located close to customer demand. In Brazil, in particular, competitors need to bring in products from locations as far away as the Middle East and face import tariffs which reduces their competitiveness compared to us. We rely on a diversified mix of raw materials, such as naphtha, ethane, propane, propylene and ethanol. We also source our raw materials from a diversified base of suppliers, which we continuously work to expand in the regions where we operate. In the United States Gulf Coast, we have a well-diversified supply base with well-developed pipeline connectivity that allow us to source feedstock at a competitive cost in the region. With 20 sources of supply in North America, our geographic and logistics diversity allows for redundancy in supply and flexibility at our PP plants. Global Marketing Platform We are a customer-focused organization and have built a deep network of local relationships with 2,839 customers worldwide as of December 31, 2025. We have a long history of development of long-term and close partnerships with clients, focusing on their needs and individual value creation solutions. Our market orientation and wide network are underpinned by a global platform with commercial offices in the Americas, Europe and Asia. Our global marketing platform combines market-focused teams for key market segments as well as regional teams for broader coverage. We encourage innovative thinking, an entrepreneurship mindset, a focus on the value chain and on product quality and service level. 69 Table of Contents Innovation and Technology, and Research and Development Capabilities Innovation and technology play a crucial role and initiatives in these fields are strongly linked to Braskem’s business strategies, supporting traditional business and future strategy, associated with decarbonization, bio-based and recycling. Focusing on enhancing technologies and developing new solutions is essential to remaining competitive in the market and achieving our strategic objectives. We drive innovation to extract value from our existing assets and create new value propositions to our customers. As a result of our innovation efforts, 6.7% of the product sales have been introduced in the last five years. We employ 352 employees globally in innovation and technology, spread across our research and development centers in Pittsburg and Lexington, Massachusetts (United States), Wesseling (Germany), Coatzacoalcos (Mexico), Triunfo, Campinas and São Paulo (Brazil). In 2025, even in a challenging scenario, we continued to invest in innovation to accelerate the creation of solutions that meet the demands of the market and society. We believe that innovation is an essential driver for building a more sustainable and resilient future. Qualified Management Team with Proven Success Our senior management team combines deep operational expertise and knowledge of petrochemical global markets developed over long tenures. We believe we have a strong mergers and acquisitions track record that supported our global expansion in the last decade, including into the United States and Europe, and we believe we have proven success in executing large and complex projects, including the (i) building of Braskem Idesa plants; (ii) construction of a new plant of PP in the United States (Delta Project); and (iii) development of the new ethane terminal in Mexico, the Terminal Química Puerto Mexico (“TQPM”), Industry Overview In both 2024 and 2025, the global economy maintained a growth trajectory similar to the previous year. This sustained growth was supported by the strong performance of the United States economy, a resilient labor market, and robust consumer spending, even after the aggressive policy rate hikes of 2022 and 2023. Additionally, faster-than-expected net export growth in China helped to mitigate some of the slowdown in consumption. On the other hand, the global economy was also influenced by high global interest rates aimed at controlling inflation, a slowdown in the Chinese economy, and ongoing tensions between China and the United States. The European manufacturing sector remained weak, and geopolitical conflicts persisted in regions such as Russia, Ukraine, and the Middle East. Regarding the petrochemical scenario, three structural changes or supply shocks have continued to impact global market dynamics: (i) the competitiveness of natural gas and ethane in the United States and the Middle East, which boosted ethane-based PE production and reduced naphtha's market share; (ii) China's pursuit of self-sufficiency, aiming to lead global supply chains and integrate refineries, creating an oversupply in the industry; and (iii) the reconfiguration of refineries, especially in Europe, reducing global naphtha supply, which has impacted and may continue to impact the cost of naphtha moving forward. These shocks, combined with a slower-growing global demand, have resulted in a surplus of products, especially in China, the United States, and the Middle East, which impacted and continues to significantly impact the margins of the petrochemical industry. 70 Table of Contents The price of crude oil also continued to oscillate drastically, in the tug-of-war between risk of supply disruption caused by geo-conflicts (prices up) and bearish demand (prices down). Meanwhile the so-called “golden age”, refineries that benefit from strong demand for gasoline and diesel, which is easing, are being impacted, as expected so that naphtha crack spreads, the difference between the price of naphtha and the price of crude oil, began to recover (and sustain) better levels of crack spreads, closing 2025 in the negative US$(5.4) per barrel levels, which is far from the negative double digits recorded in 2023 and 2022. The outcome of the weaker polymer prices and volatile (higher naphtha) feedstock was the decline in most petrochemicals’ spreads in the international market throughout 2025, with some upticks, which were not sustained. The uncertainties and challenging scenario are expected to continue in 2026, but some rationalization is expected for nonintegrated plants and older inefficient units that are vulnerable to intense competition, especially in the PP market, according to CMA, which may benefit spreads, along with the expectation of continuous improvement of economies (alongside of demand). In response to these conditions, during 2025 we implemented many initiatives to preserve our financial health and value creation such as, (i) optimization of asset operations, focused on cost discipline; (ii) implementation of financial initiatives, focusing on financial preservation of liquidity position and cash flow; (iii) prioritization of investments and reduction of requirements for capital expenditures, without impacting asset reliability; and (iv) advancement in all fronts related to the geological event in Alagoas, accomplishing the commitments in signed agreements. Industry Trends In April 2026, the IMF revised its projection for the world’s GDP growth in 2026 to 3.1%, an estimate that is 0.2 p.p. lower than forecasted in January 2026. According to the Fund, the apparent stability of global growth masks the balancing of divergent forces in the short term. On one hand, technology-driven investment, fiscal and monetary support, accommodative financial conditions, and strong private-sector adaptability continue to sustain activity, especially in North America and Asia. On the other hand, shifting trade policies and persistent policy uncertainty remain meaningful headwinds. The global disinflation is expected to continue, gradually converging toward targets in most major economies, but US inflation will return to target more gradually. Key downside risks are reevaluation of technology expectations and escalation of geopolitical tensions. According to IMF, several risks could impact global economic growth, predominantly downside risks, especially in the medium term. The IMF highlights the possibility of a reevaluation of productivity expectations linked to AI, geopolitical tensions, renewed trade frictions and the persistence of large fiscal deficits and public debt, all of which could disrupt supply chains, raise long-term interest rates, and increase uncertainty. On the upside, the IMF notes that activity could strengthen further if AI adoption effectively translates into productivity gains, enhancing business dynamism and generating more persistent growth. A sustained easing of trade tensions could also support activity. To safeguard the outlook and strengthen medium-term prospects, the IMF emphasizes the need for policies aimed at rebuilding fiscal buffers, preserving price and financial stability, reducing uncertainty, and advancing structural reforms without delay. Regarding the global petrochemical scenario, the expectation of external consulting firms for 2026 is a scenario of spreads that are similar to those of 2025, still challenged by additional capacities coming online in China. An upward trend of global consumption, based on macroeconomics of resolution of conflicts could partially revert this scenario, also an increase in the rationalization of inefficient capacities, might improve operating rates and consequently spreads. 71 Table of Contents Reportable Segments As of December 31, 2025, our business operations were organized into three segments, which corresponded to our principal production processes, products and services. Our reportable segments were as follows: Brazil Segment: includes: (i) the production and sale of chemicals, including olefins and specialties, at the Camaçari Petrochemical Complex in Bahia, the Triunfo Petrochemical Complex in Rio Grande do Sul, the Capuava Petrochemical Complex in the state of São Paulo, and the Duque de Caxias Petrochemical Complex in the state of Rio de Janeiro; (ii) the supply of electricity and other inputs produced in these complexes to second-generation producers located in the petrochemical complexes; (iii) the production and sale of PE, including the production of PE I’m green™ bio-based made from renewable resources, and of PP; and (iv) the production and sale of PVC and caustic soda (hibernated in September, 2025). United States and Europe Segment: operations related to PP production and sale in the United States and Europe, through the subsidiaries Braskem America and Braskem Netherlands B.V, respectively. Mexico Segment: comprises the activities related to the PE production and sale in Mexico, through the subsidiary Braskem Idesa. Brazil Segment We have 28 industrial units within four petrochemical complexes in our Brazil Segment (South America) that mainly use naphtha, ethane/propane, refinery off gas (ROG), and ethanol as feedstock to produce ethylene, propylene, green ethylene and their respective chemical co-products, which subsequently are used as feedstock to make thermoplastic resins (PE, PP, PVC and PE I’m green™ bio-based) or sold to third parties. As of December 31, 2025, our Brazil Segment had the largest annual PE, PP and PVC production capacity in South America, according to CMA. Our Brazil Segment generated net revenue of R$51,774 million during 2025, or 72% of the net revenue of our reportable segments. The following table sets forth our net revenue derived from sales of our Brazil Segment for the years indicated: For the Year Ended December 31, 2025 2024 2023 (in millions of reais) Net revenue: Brazil 51,774 54,844 49,512 Our Brazil Segment is comprised of the 1st and 2nd generation operations conducted by us. Our chemicals operations produce: · olefins, such as ethylene, polymer and chemical grade propylene, butadiene and butene-1, and others; · intermediates, such as benzene, cumene, paraxylene, ortho-xylene, and others; · fuels, such as gasoline, boosters, and others; · solvents, such as toluene, xylene, and others; and 72 Table of Contents · specialties, such as polyisobutene (PIB), hydrocarbon resin (Unilene®), isoprene, DCPD, piperylene, nonene and tetramer, I’m green™ bio-based PE wax, and others. Our polyolefins operations produce: · polyethylene, including LDPE, LLDPE, HDPE, EVA and PE I’m green™ bio-based made from renewable resources; and · polypropylene. Our vinyl’s operations include PVC production and, until September 2025, the manufacture caustic soda, which was mainly used by producers of alumina, pulp and paper, as well as in the soap industry. Our PVC production until September 2025 was integrated through the production of chlorine, ethylene and other raw materials. In September 2025, Braskem decided to hibernate its chlor-alkali unit to improve PVC competitiveness. It has not affected our PVC production capacity since we are importing the feedstock through a long-term agreement from a global supplier. Despite this change as of December 31, 2025, our PVC production plants had the largest annual production capacity in South America, according to CMA Products of our Brazil Segment The products of our chemicals operations are used primarily in the manufacture of intermediate second-generation petrochemical products, including those manufactured by our polyolefins and vinyls. Our chemicals operations also supply other second-generation producers in each of the petrochemical complexes in which we operate, and other companies located outside of these complexes, and renders services to those producers. The following table sets forth a breakdown of the sales volume of our olefins operations by product and by market for the years indicated (excluding our intra-company sales): Year Ended December 31, 2025 2024 2023 (in thousands of tons) Domestic sales: Ethylene 408 437 388 Propylene 236 270 265 Butadiene 156 166 156 Paraxylene 133 157 87 Benzene 471 475 400 Toluene 50 51 51 Gasoline 928 921 866 Cumene 178 211 193 Other chemicals 358 365 359 Total domestic sales 2,918 3,053 2,765 Total export sales 476 574 706 Total chemicals sales 3,394 3,627 3,471 Our polyolefins operations produce polyethylene, including LDPE, LLDPE, HDPE, UHMWPE, EVA, PE I’m green™ bio-based from renewable resources and polypropylene, including homopolymer and copolymer grade. We manufacture a broad range of polyolefins for use in consumer and industrial applications, including plastic films for food, agricultural and industrial packaging, bottles, shopping bags and other consumer goods containers, automotive parts, engineering and infra-structure goods and household appliances. We also provide technical assistance to our customers to meet their specific needs by adapting and modifying our polyethylene and polypropylene products. We believe that the variety of technological processes at our polyolefins plants provides us with a competitive advantage in meeting our customers’ needs. 73 Table of Contents Year Ended December 31, 2025 2024 2023 (in thousands of tons) Domestic sales: Polyethylene(1) 1,594 1,641 1,650 Polypropylene 1,117 1,210 1,165 Total domestic sales 2,711 2,851 2,815 Total export sales 865 807 800 Total polyolefins sales 3,576 3,658 3,615 (1) Includes LDPE, LLDPE, HDPE, EVA and PE I’m green™ bio-based. The PVC product, which is part of our vinyls operations, is used primarily in the construction segment. In 2025, based on sales volumes, we had an approximate 37% share of the Brazilian PVC market and 11% of market share of the Brazilian caustic soda (excluding consumption of alumina by companies located in the North and Northeast of Brazil) considering the asset hibernation of our chlor-alkali unit. The following table sets forth a breakdown of the sales volume of our vinyls operations that are part of our Brazil Segment by product line for the years indicated: For the Year Ended December 31, 2025 2024 2023 (in thousands of tons) Domestic sales: PVC 456 490 528 Caustic soda 167 275 332 Total domestic sales 623 765 860 Total export sales 0 – – Total vinyls sales 623 765 860 Production Plants of Our Brazil Segment Chemicals Operations We believe that the technological processes we use at plants in our olefins operations are among the most advanced in the world. Our chemicals operations currently include owning and operating: · five major production plants in the Northeastern Complex (two olefins units, two aromatics units and one utilities unit); · five major production plants in the Southern Complex (two olefins units, one green ethylene unit, one aromatics unit and one utilities unit); · three production plants in the São Paulo Complex (one olefins unit, one aromatics unit and one utilities unit); and · two production plants in the Rio de Janeiro Complex (one olefins unit and one utilities unit). We define the term “unit” to mean several production lines that are linked together to produce olefins, aromatics, or utilities. 74 Table of Contents The table below sets forth the primary products of our chemicals operations that are part of our Brazil Segment, annual production capacity as of December 31, 2025, and annual production for the years presented: Annual Production Production For the Year Ended December 31, Primary Products Capacity 2025 2024 2023 (in thousands of tons) Ethylene 3,752 2,559 2,693 2,653 Green ethylene 275 179 198 165 Propylene 1,585 1,031 1,084 1,082 Butadiene 480 300 306 290 Benzene, toluene and paraxylene 1,367 687 753 699 Polyolefins Operations As of December 31, 2025, our polyolefins operations owned 14 production plants, with five plants located in the Southern Complex, three plants located in the Northeastern Complex, four plants located in the São Paulo Complex and two plants located in the Rio de Janeiro Complex. The table below sets forth our annual production capacity for each of our primary polyolefins products as of December 31, 2025, and annual production for the years presented: Annual Production Production For the Year Ended December 31, Primary Products Capacity 2025 2024 2023 (in thousands of tons) Polyethylene: LDPE/EVA (1) 798 631 639 569 HDPE/LLDPE/UHMWPE(2) 2,403 1,551 1,600 1,637 Polypropylene (3) 1,905 1,295 1,380 1,350 ____________ (1) Represents capacity and production at five production plants, part of them with swing line capacity capable of producing two types of resins. (2) Represents capacity and production at seven production plants, part of them with swing line capacity capable of producing two types of resins. Capacity varies depending on actual production demands. (3) Represents capacity and production at five plants. Vinyls Operations We operated four vinyl production plants: one located in the Northeastern Complex and three located in the state of Alagoas, in Brazil. In September 2025, the Company decided to hibernate its last chlor-alkali unit, located in Maceió, state of Alagoas. The decision was part of the long-term strategy to improve competitiveness and better serve customers. In January 2020, Braskem announced the permanent shutdown of its chlor-alkali production facility located in Camaçari, in the State of Bahia, in Brazil whose operations started in 1979 with annual production capacity of 79,000 tons of caustic soda and 64,000 tons of chlorine. The shutdown is explained by the end of the facility’s useful life and started in April 2020, following applicable safety standards and seeking to protect people, local communities and the environment. The table below sets forth for each of our primary vinyls products, our annual production capacity as of December 31, 2025, and annual production for the years presented: 75 Table of Contents Annual Production Production For the Year Ended December 31, Primary Products Capacity 2025 2024 2023 (in thousands of tons) PVC 730 439 462 493 Caustic Soda 460 until Sep/25(1) 128 266 303 ____________ (1) In September 2025, Braskem decided to hibernate its chlor-alkali unit to improve PVC competitiveness. Raw Materials of Our Brazil Segment Naphtha The main raw material that we use for chemical production is naphtha, with a total consumption capacity of up to 10 million tons per year. Up to one-and-a-half million tons of naphtha can be substituted by condensate, which in recent years was about one million tons. Natural gasoline is also a feedstock that can be used as a replacement for naphtha. The cracker located in Rio de Janeiro uses ethane and propane, and its consumption is 0.4 million tons of each of these raw materials per year. The São Paulo cracker can also consume refinery off gas in a quantity equivalent to about 15% of the ethylene production capacity. As a reference, the following table shows the average Amsterdam-Rotterdam-Antwerp, or the ARA price, of naphtha for the periods indicated. 2025 2024 2023 (in US$/t) Average(1) 567 765 643 (1) The information in the “Average” row represents the mean average monthly naphtha prices during each respective year. Source: Braskem Global Market Intelligence. As part of our strategy to diversify our sources of supply of naphtha, we acquire naphtha and condensate under annual supply arrangements with international suppliers. We also purchase naphtha on the spot market from time to time from foreign suppliers located in Africa, Europe, North America and Latin America. In addition to our supplies of naphtha, we purchase condensate on the spot market from time to time from foreign suppliers. The following table shows the distribution of naphtha plus condensate purchases by our Brazil Segment for the periods indicated by geographic location of the suppliers. Year Ended December 31, 2025 2024 2023 Brazil 45% 43% 43% Europe 6% 10% 12% South America 1% 1% 8% North America 31% 24% 15% Africa 17% 22% 21% Others 0% 0% 1% Total 100% 100% 100% 76 Table of Contents Ethylene and Propylene The most significant feedstock of our production of polyethylene and polypropylene are ethylene and propylene. In 2025, the ethylene consumption of our polyethylene operations was totally supplied by our chemicals plants and the propylene consumption of our polypropylene plants were supplied by our chemicals operations and by external sources. The most significant feedstock associated with the production of PVC is ethylene. Our chemicals operations that are part of our Brazil Segment supply all the ethylene required by our vinyls operations. Other Materials and Utilities Our polyolefins operations that are part of our Brazil segment use butene, hexene, vinyl acetate and propane as raw materials in the production of HDPE, LDPE, EVA, UTEC, MTLPE and LLDPE. Butene is consumed from our chemicals operations. We import hexene and vinyl acetate from many suppliers around the globe, and propane we buy from Brazilian suppliers. In our polypropylene operation we use butene as raw material in the production of terpolymer. Butene is supplied from our chemicals operations. Our polyethylene plants also use catalysts supplied by many suppliers around the globe. We also produce our own catalysts for our HDPE slurry plants in the Southern and Northeastern Complexes, and we purchase the inputs that we need to produce these catalysts from many suppliers at market prices. Our polypropylene plants also use catalysts supplied from a national and international supplier. Additives are consumed in the extruder process to reach certain properties of the final product. Some examples are antioxidants, clarifiers, flow aids and neutralizers. Salt We consumed 229 kton of salt during 2025, which were all imported from Chile, dissolved in water to make brine, and then treated and sent for processing. In 2025, we produced 128 kton and imported 35 kton of caustic soda to supply our customers. Also, we produced 149 kton and imported 238 kton of ethylene dichloride, which is consumed in PVC production, to supply our PVC plants located in the state of Alagoas and in the Northeastern Complex. Salt mining operations at our mine were shut down in May 2019, as described in “Item 3. D Risk Factors—Risks Relating to Us and the Petrochemical Industry—Our business and operations are inherently subject to environmental, health and safety hazards. As a result, our business is also subject to strict environmental and other regulations” and “Item 8. Financial Information—Legal Proceedings—Alagoas – Mining Activities.” Supply Contracts of Our Brazil Segment Naphtha Throughout 2025, Braskem and Petrobras had naphtha supply contracts in effect to provide naphtha for our plants in the Southern Complex, the Northeastern Complex, and the São Paulo Complex. These agreements expired in December, 2025 and were renewed, while the new contracts have a new term of five years, until the end of 2030. Under the terms of these new agreements: 77 Table of Contents · Petrobras has agreed to sell and deliver naphtha, for a period of five years, to our chemical plants in the Northeastern, Southeastern and the Southern Complex exclusively for our use as a feedstock; · we are required to purchase a minimum monthly volume of naphtha for each of our Complexes; · we have the option to purchase additional volume for the São Paulo Complex and Petrobras has an option to sell us additional volume for our Northeastern and Southern Complexes; · we may request volumes of naphtha that exceed a monthly firm commitment order, which Petrobras may supply at its discretion; · the price we pay for naphtha is based on international price references; · the contract could be terminated or amended in the event that unforeseen extraordinary events occur that cause a disruption in the economic-financial equilibrium of the contract; · either party may terminate the contract in the event of, among others: (1) failure to cure any breach of the contract following a 30-day grace period; (2) a force majeure event that continues for more than 90 days; (3) assignment or transfer, in whole or in part, of the rights and obligations under the contract to a third party without the other party’s consent; (4) assignment or offering as guarantee, in whole or in part, of credits of any nature arising from or originating from the contract without the other party’s consent; (5) an alteration of ownership or corporate purposes that conflicts with the purpose of the contract; (6) dissolution; (7) failure to comply with the compliance obligations of the contract; (8) bankruptcy; or (9) unappealable court decision approving an out-of-court reorganization plan or granting judicial reorganization, if the other party fails to provide adequate security or sufficient collateral to ensure the due performance of its contractual obligations. In December 2021, ACELEN concluded the acquisition of REFMAT, a refinery previously owned by Petrobras, located in the state of Bahia, and one of the suppliers for our Northeastern Complex. As per the terms and conditions of the sale and purchase agreement, the supply agreement originally entered into by Petrobras was assigned to ACELEN. This Agreement expired in December 2025. In 2026, the purchases are being made on a spot basis. Ethane and Propane Ethane and propane are the main feedstocks that we use to produce our chemical products in the Rio de Janeiro Complex and represent the principal production and operating cost of the petrochemical cracker in the Rio de Janeiro Complex. The price of ethane and propane that we purchase varies primarily based on changes in the U.S. dollar-based international price of these feedstocks. The existing contract expired on December 31, 2025. In December 2025, we and Petrobras entered into a new ethane and propane supply agreement with a term of up to eleven years, from January 1, 2026 to December 31, 2036 as follows: · we are required to purchase, and Petrobras is required to deliver a minimum annual volume of ethane and/or propane; · the volume of ethane is expected to increase in 2029, which will increase the ethylene production from 580 kton to 725 kton per year; · the prices for ethane and propane are based on international price references; · the contract could be terminated or amended in the event that unforeseen extraordinary events occur that cause a disruption in the economic-financial equilibrium of the contract; and 78 Table of Contents · either party may terminate the contract in the event of, for example: (1) failure to cure any breach of the contract following a 60-day grace period; (2) a force majeure event that continues for more than 180 days; (3) assignment or transfer, in whole or in part, of the rights and obligations under the contract to a third party without the other party’s consent; (4) assignment or offering as guarantee, in whole or in part, of credits of any nature arising from or originating from the contract without the other party’s consent; (5) dissolution, bankruptcy or unappealable court decision approving an out-of-court reorganization plan or granting judicial reorganization which materially impacts the other Party’s ability to perform its obligations; (6) upon prior written notice given at least 120 days in advance, with respect to a change in the shareholding structure involving the shareholders holding a majority of the voting capital, if the new shareholder holding a majority of the voting capital fails to meet the other Party’s compliance requirements in the due diligence. Braskem also has an ethane supply contract with Enterprise Products Operating LLC (“Enterprise Products”), to supply ethane from the United States to Brazil. This agreement will remain valid until 2027. The price of ethane is based on the Mont Belvieu ethane price plus a Terminal Fee, basis FOB USGC. The logistics to move the ethane to Brazil is managed by Braskem. Since February 2017, Braskem has had the capability to receive imported ethane at the Rio de Janeiro Complex. Since November 2017, Braskem has the capacity to consume ethane in the cracker in Bahia, partially replacing naphtha. Braskem has invested to create the flexibility to substitute naphtha for ethane in a ratio equivalent to 15% of the ethylene production of the site. 2018 was the first year in which we operated our cracker in Bahia using imported ethane as feedstock. Of the total ethylene produced by the cracker, there was no consumption of imported ethane as feedstock in 2025, 4.6% of ethane feedstock in 2024 and 0.7% of ethane feedstock in 2023. The imported ethane in our Brazilian operations is marginal to domestic supply and the quantity imported in 2025 was 65 kton, in 2024 was 73.5 kton and in 2023 it was 17.7 kton. Refinery Off Gas In January 2005, we entered into an agreement with Petrobras for the purchase and sale of steam from refinery off gas, from which we separate ethylene and propylene. This agreement was valid for a term of 15 years and contained a provision requiring the parties to negotiate its extension prior to its expiration in 2020. This agreement also contained a provision pursuant to which Petrobras was required to notify us at least two years prior to its expiration of its intention to renew the agreement, and if Petrobras notified us of its intention not to renew it, then the agreement would remain valid under its original terms and conditions for eight additional years until 2028. In December 2017, Petrobras informed us that they would not renew this agreement on the same terms and conditions. Therefore, the contract will remain valid under its original terms and conditions until 2028. The impact of the new terms and conditions of a possible future agreement after 2028 and any failure to successfully negotiate such terms with Petrobras could impair our ability to satisfy our refinery off gas needs. Under the terms of this agreement, which represents 100% of our refinery off gas supply: · we are required to purchase a minimum daily volume of refinery off gas, and Petrobras is required to sell a minimum daily volume to us; · the price for refinery off gas is based on a variety of market references; 79 Table of Contents · the contract will be amended in the event that unforeseen extraordinary events occur that cause a disruption in the economic-financial equilibrium of the contract; and · Petrobras may terminate the contract, without prior notice, in the event of: (1) our failure to cure any breach of the contract following a 30-day grace period; (2) a force majeure event that prevents the execution of the contract; (3) a transfer or pledge by us, as a guarantee for indebtedness, of all or part of our rights, obligations and credits under this contract to a third party without Petrobras’ consent, unless the third party is a member of our economic group; (4) the dissolution or bankruptcy of Braskem S.A.; or (5) a change in business structure, merger, sale, spin-off or any other corporate reorganization of Braskem S.A. that conflicts with or impedes the execution of contract’s purpose. In 2024, Braskem and Petrobras terminated the existing contract and signed a new one. There were no changes in commercial conditions (such as volume, price and term) between the former contract and the new one. Propylene Contracts We have entered into multiple propylene agreements, which had initial terms expiring at various dates between May 2021 and December 2029, some of which were automatically renewed for five additional years and are priced based on international references to assure competitiveness of feedstock. In 2016, Braskem entered into an agreement with Petrobras for a five-year propylene supply contract with REFAP S.A. (“REFAP”), a subsidiary of Petrobras. This supply contract is priced based on international references. In October 2021, Petrobras and Braskem renewed for one year the propylene supply contract with REFAP. The contract lasted between November 2021 and October 2022 and had the same volume and pricing conditions as the previous contract. In December 2021, Petrobras and Braskem entered into five new propylene contracts, to be supplied by REPLAN, REVAP, REPAR, REDUC and RECAP, which replaced the existing contracts. These contracts expire between 2026 and 2029 and are priced on international references to assure the competitiveness of feedstock. In December 2025, Petrobras and Braskem entered into three new propylene contracts, to be supplied by REDUC, RECAP and REFAP. These new contracts will last for five years, from May 2026 to April 2031. The new agreements with RECAP and REDUC will replace the existing ones, that expire in May 2026. Either party may terminate these contracts in the event of, for example: (1) failure to cure any breach of the contract following a grace period; (2) a force majeure event occurs, although some of these contracts require that the force majeure event continues for more than 180 days; (3) assignment or transfer, in whole or in part, of the rights and obligations under the contract to a third party without the other party’s consent; (4) certain shareholding changes; (5) the dissolution, bankruptcy or out-of-court reorganization plan or judicial reorganization. During 2025, Braskem and Petrobras signed four short-term propylene contracts, to be supplied by REFAP. All these contracts were signed and terminated in 2025. Ethanol Supply Contracts We buy ethanol from Brazilian producers to supply our facility that produces ethylene and ETBE, using sugar cane ethanol. We have ethanol supply agreements that will terminate in 2026 and 2027. We also purchase ethanol on the spot market from time to time to supplement the contracted volumes. Under the contracts we have, we are or will be required to purchase an annual supply of ethanol sufficient to meet at least 83% of the capacity of this ethylene plant. The price we pay under these contracts is or will be determined by reference to the price of combustible hydrated alcohol as published by the Center for Advanced Studies in Applied Economics of the Superior School of Agriculture (Centro de Estudos Avançados em Economia Aplicada da Escola Superior de Agricultura– CEPEA/ESALQ). 80 Table of Contents Electricity Our industrial operations in Brazil represented 80% of our global electric consumption in 2025 and we self-generated 27% of our electrical energy consumption by on-site thermal cogenerations. We currently have a mix of long-term and medium-term energy contracts. 44% of these contracts in 2025 were in an off-site self-production model, in which we purchase a stake in certain wind and solar assets for our own generation of renewable electricity. Out of the total amount of energy we consumed in 2025, 84% was from renewable sources, considering the purchase of renewable energy, including renewables certificates, renewables asset contracts and renewable percentage of the grid. This percentage was 1% higher than in 2024. Natural Gas Until 2024, Braskem was supplied, in Brazil, exclusively through contracts in the regulated market. During 2025, five industrial units switched to the free natural gas market, enabling access to more competitive pricing and increasing the flexibility of our operations. By the end of 2025, 64% of our consumption was still in the regulated market and 36% was in the free market. The natural gas consumed by our operations in Brazil in 2025 represented 62% of our consolidated consumption. Steam and Coal Steam is essential to our industrial processes. Most of the industrial units generate their own steam from the burning of fuels. In some units, we purchase steam from third parties under long-term contracts. In 2025, 85% of the total amount of our purchased steam was for our operations in Brazil. In Brazil, coal is used to generate steam in our unit located in the petrochemical complex at Rio Grande do Sul. During 2025, coal represented 11% of the energy purchased globally by us. Sales and Marketing of Our Brazil Segment The Brazil Segment is an integrated business with the production and sale of first and second generation chemicals, including olefins, specialties, vinyls, and polyolefins. The focus of our Brazilian operations is to maintain our leading position in Brazil and South America through a continued local presence and regular product supply, reinforcing our commitment to the chemical and plastic industry chain in the region, continuing to use our exports to optimize our operations and adjust the imbalances between demand and production. Since we export large volumes of certain products, we also develop long-term relationships with international customers through contracts that minimize our exposure to market conditions and mitigate risk. We sell most of our olefins products in Brazil to third-party petrochemical producers. We sell the remainder of our products to customers in the United States, Europe, South America and Asia. 81 Table of Contents Our specialty products are mainly utilized in the production of intermediate second generation petrochemical products. We also supply other second generation producers within the petrochemical complexes where we operate, as well as companies outside these complexes, and provide services to these producers. The primary applications of our products include adhesives, rubbers, cosmetics, lubricants, paints, fuels, and boosters. Through our polyolefins operations, we sell polyethylene and polypropylene products to 1,114 customers worldwide. We have a diversified product mix that allows us to serve a broad range of end users in several industries. The customers of our polyolefins operations generally are third generation petrochemical producers that manufacture a wide variety of plastic-based consumer and industrial goods. There is a structural link between the PVC and caustic soda markets because caustic soda is a co-product of the production of chlorine required to produce PVC. Most of the time, when demand for PVC is strong, greater amounts of caustic soda are produced, leading to an increase in supply and a decrease in prices for caustic soda. Conversely, when demand for PVC is weak, prices for caustic soda tend to rise. Sales of Chemicals operations As part of our commercial strategy, we are focused on developing short and long-term relationships with our customers. Our olefins operations focuses entering into long-term supply contracts that provide for minimum and maximum quantities to be purchased on a monthly basis. The domestic market pricing is based on international market references. We establish our domestic price for specialties based on international spot market prices, plus exchange rate variation. The domestic price for specialties is based on the international reference, which generally reflects the spot market price, plus service margin and exchange rate variation. Delivery time, quality and technical service also affect the levels of sales of specialties products. Sales of Polyolefins operations As part of our commercial strategy, we are focused on developing short- and long-term relationships with our customers. Given the cyclical nature of the markets for our polyolefins operations, we believe that we can strengthen customer loyalty during periods of reduced demand for polyethylene or polypropylene by providing a reliable source of supply to these customers during periods of high demand. We work closely with our customers to provide technical assistance and to coordinate the production and delivery of our products. Despite having a regular client basis in the domestic market, prices in such market are driven by monthly spot negotiations. Both sales volume per client and the types of products our clients purchase may vary on a monthly basis. In addition to direct sales of polyolefins to our customers, through our polyolefins operations, we sell products in Brazil through exclusive independent distributors. Our polyolefins operations are served by five distributors, through which we distribute our products pursuant to formal agreements and spot market transactions. We have selected our distributors based on their ability to provide full service to their customers, and also based on their background. These distributors sell our polyethylene and polypropylene products to manufacturers with lower volume requirements and are able to aggregate multiple orders for delivery. They have a wide coverage network in Brazil and, as a result, expand the Braskem brand. Furthermore, by providing customized services and serving smaller customers through a network of distributors, our account managers focus their efforts on delivering high quality service to a smaller number of large and medium direct customers. Our volume of polyolefins export sales has generally varied based upon the level of domestic demand and the total production availability for our products. Our polyolefins operations have commercial offices in Argentina, Chile, Peru and Colombia. These offices are used to consolidate our marketing efforts in South America, one of our key markets outside of Brazil. Our polyolefins operations may also use the European, Mexican and United States sales force of our United States and Europe Segment and Mexico segment in order to improve the competitiveness of our export sales from Brazil Segment. In each of these regions, we have specific commercial strategies in connection with exports coming from Brazil, which complements our local product availability. 82 Table of Contents We have established a strategic position in the polyolefins business in South America, North America, Europe and Asia through regular direct sales, local distributors and agents who understand their respective markets. The strategy to increase our presence in these foreign markets is intended, among other things, to reduce our exposure to the cyclicality of the international spot market for polyolefins through the development of long-term relationships with customers in neighboring countries. Our local presence allows us to further enhance our position in those markets and sell our polyolefins operations that are part of our Brazil Segment’s products through our United States and Europe Segment. Sales of Vinyls operations Most of our sales of PVC and caustic soda are sold to Brazilian customers and we use third-party distributors to serve smaller and/or specific caustic soda customers. To provide a better logistics support to our Brazilian PVC customers, we serve them through five distribution centers, on a contractual basis, located in: Piracicaba, Mauá and Sumaré, in the State of São Paulo; Joinville, in the State of Santa Catarina; and Araucaria, in the State of Paraná. In addition, we operate 12 warehouse facilities for PVC, on a non-exclusive basis, and five terminal tank facilities (Aratu-BA; Vila Velha- ES; Rio de Janeiro- RJ; Santos – SP; Paranaguá – PR) for caustic soda strategically located along the Brazilian coast to enable us to deliver our products to our customers on a “just-in-time” basis. Our vinyls operations work in close collaboration with its customers, working together to improve existing products as well as to develop new applications for PVC. Our marketing and technical assistance groups also advise current customers and potential ones that are considering the installation of new manufacturing equipment for PVC downstream products. In addition, in 2025 we decided to cease supplying the Brazilian market with emulsion PVC and other copolymers with higher value through imports from our vinyls operations. Prices and Sales Terms We determine the prices of our products in accordance with international pricing references. In addition, we consider segment, volume, and other information when we set our prices. Our customers in Brazil may pay in full on delivery or elect credit terms that require payment in full within three to 60 days following delivery. We charge interest based on prevailing market rates to our Brazilian customers that elect to pay on credit. In addition, besides our strategic sales to South America, Europe, Mexico and the United States, our polyolefins operations that are part of our Brazil Segment generally conducts export sales to buyers in Asia and Africa through the international spot market. Our customer base in these markets consists primarily of trading houses and distributors. The domestic price for PVC resins is based on the import parity of PVC imported by converters in Brazil, which generally reflects the Northeast Asian spot market price, plus exchange rate variation. Delivery time, quality and technical service also affect the levels of sales of PVC resins. We establish our domestic price for caustic soda based on North American spot market prices, plus exchange rate variation. 83 Table of Contents Competition Chemicals Operations During the past several years, as the relative cost of naphtha and gas as feedstock for petrochemical crackers has diverged, many crackers using gas as a feedstock have become low-cost producers in the global markets and have seen their margins improve as compared to naphtha crackers. Competition in the international markets for these products is primarily based on the price of delivered products and competition has increased since mid-2008 as the balance between supply and demand was disrupted due to the impact of the global economic downturn on consumers of these products. In the international markets for our olefins products, we compete with many producers, some of which are substantially larger and have substantially greater financial, manufacturing, technological and marketing resources than us. Our main competitors in the specialties market are national and international petrochemical companies operating in Brazil, national and international refinery companies and producers located in the U.S. Gulf Coast. Polyolefins Operations We are the only producer of polyethylene and polypropylene in Brazil. We compete with polyolefins producers worldwide. In 2025, Brazilian polyethylene and polypropylene imports decreased by 1% and represented 49.5% of Brazilian polyolefin consumption. We compete for export sales of our polyolefins products in other countries in Latin America and in the North American, Asian and European markets. Similar to Braskem, those competitors also have a wide portfolio, ample research and development capabilities and sufficient production capacity. Our competitive position in the export markets that we serve is based on customer relationship, extensive product portfolio, product quality and customer service and support. Vinyls operations Unipar Indupa (formerly Carbocloro and Solvay), or Unipar, and Braskem are the only two PVC producers in Brazil. According to CMA, Unipar’s total Brazilian installed annual production capacity is 299 kton, compared to our annual production capacity of 730 kton. Unipar’s Brazilian production plants are located in São Paulo, closer to the primary PVC market in Brazil, whereas our plants are located in the Northeast of Brazil. However, we believe that our strong relationship with our customers and our technical assistance programs enable us to effectively compete with Unipar and to make up for any competitive disadvantage due to geographical distance from the market. In addition to its Brazilian plants, Unipar also has a PVC plant in Argentina that, together with other PVC importers, compete with Braskem. According to ComexStat, imports from all regions accounted for 47.6% of Brazilian PVC consumption in 2025. Most of the imported volume comes from Colombia (Mexichem) that, due to a bilateral agreement with Brazil, can import products without import taxes. Domestically produced PVC is currently competitively priced with imported PVC, considering that our price is based on the international market. Braskem competes with other producers of thermoplastics resins, mainly polyethylene and polypropylene, that can replace PVC in certain applications. Wood, glass, and metals also are used in some cases as substitutes for PVC. According to CMA and Abiclor (Associação Brasileira da Indústria de Álcalis, Cloro e Derivados), the three largest Brazilian producers of caustic soda, including Braskem, accounted for 68.6% of capacity in Brazil in 2025. 84 Table of Contents In 2025, Brazil’s total caustic soda consumption was 1,552 kton, 45% of this consumption is attributed to imported caustic soda, based on Abiclor, which includes Braskem own imports to supply part of the market (34.6 kton).Our main competitors in the caustic soda market are other international petrochemical companies operating in Brazil and producers located in the U.S. Gulf Coast. United States and Europe Segment Our United States and Europe Segment includes: · the operations of Braskem America, which consist of five polypropylene plants in the United States and one Ultra High Molecular Weight Polyethylene – the UTEC® plant; and · the operations of two polypropylene plants in Germany. As of December 31, 2025, our United States and Europe Segment’s plants had the largest annual polypropylene production capacity in the United States, according to CMA. Our United States and Europe Segment generated net revenue of R$16,400 million during 2025, or 23% of the net revenue of all reportable segments. In September 2023, a decision was made to hibernate one of the two polypropylene lines at the Marcus Hook plant in Pennsylvania. The hibernation of this line was implemented to ensure the long-term resilience of Braskem’s United States polypropylene business amid continuing global economic uncertainty and a trough in the chemical industry business cycle. Products of Our United States and Europe Segment Our United States and Europe Segment produces polypropylene. The sales volume of polypropylene by this Segment was 1,978 kton in 2025, 1,957 kton in 2024 and 2,110 kton in 2023. For a description of the uses of our polypropylene products, see “Products of Our Brazil Segment.” Production Plants of our United States and Europe Segment The table below sets forth the annual production capacity as of December 31, 2025, of the United States and Europe Segment’s polypropylene plants in the United States and Germany and the annual production for the years presented: Annual Production Capacity Production For the Year Ended December 31, Plant 2025 2024 2023 (in thousands of tons) United States 2,021 1,545 1,521 1,643 Germany 625 410 432 494 Raw Materials of Our United States and Europe Segment Propylene The most significant direct cost associated with the production of polypropylene by our United States and Europe Segment is the cost of purchasing propylene. We supply our plants in the United States and Europe Segment mainly through contracts from different sources, such as refineries, steam crackers and propane dehydrogenation plants (“PDHs”). The PDHs are on-purpose propylene plants that were a result of rising natural gas production and related production of natural gas liquids. Several companies have announced plans to build these plants utilizing these abundant liquids as an input. In the United States, we have secured a long-term propylene agreement with Enterprise Products, which operates a PDH plant in Texas with an annual capacity of 750 kton. We expect this agreement to provide us with a competitive, long-term supply of propylene, using shale gas and other nontraditional sources as its feedstock. Under this arrangement, the pricing of these contracts will be based on market prices for propane and other market costs 85 Table of Contents Supply Contracts of Our United States and Europe Segment We acquire propylene for our polypropylene plants in the United States under a variety of long-term supply agreements and through the spot market. As of December 31, 2025, we had 18 propylene supply agreements and two ethylene supply agreements. The pricing formulas for propylene under these supply agreements are generally based on international market prices. We acquire propylene for our polypropylene plants in Germany under long-term supply agreements that provide approximately 92% of the propylene requirements of these plants. We have two main supply agreements in Germany. The price quotation for propylene under these longer supply agreements are related to the monthly contract price for propylene for Europe (as reported by ICIS-LOR), varying their discounts and/or formula rationale according to each supplier. Sales and Marketing of Our United States and Europe Segment Our United States and Europe Segment sells polypropylene products to 370 customers. We have a diversified product mix that allows us to serve a broad range of end users in several industries. The customers of our United States and Europe Segment generally are third generation petrochemical producers that manufacture a wide variety of plastic-based consumer and industrial goods. The following table sets forth our net revenue derived from sales of our United States and Europe Segment for the years indicated: For the Year Ended December 31, 2025 2024 2023 (in millions of reais) Net revenue: United States and Europe 16,400 19,444 17,507 In the United States and Europe Segment, contracts or general supply agreements with our clients account for 78% of polypropylene sales. These contracts typically last one year and have the option of being renewed at the end of the term. Additionally, these agreements specify required minimum and maximum purchase quantities as well as monthly deliveries. The remainder of the polypropylene production of the United States and Europe Segment is sold through (1) our direct sales force that seeks to establish supply relationships with customers; (2) a select number of distributors authorized to represent the Braskem brand in the U.S. and European markets; (3) resellers that trade these products under private labels in the North American and European markets; and (4) traders that resell these products in the export markets. Prices and Sales Terms The domestic price for PP resins in the United States and Europe Segment reflects the market price, considering the differences between contract and spot prices, or propylene plus pricing. Delivery time, quality and technical service also affect the levels of sales of resins and usually export prices for PP are based on spot market references. 86 Table of Contents Competition The United States and Europe Segment is largely a commodities business and competes with local, regional, national, and international companies, some of which have greater financial, research and development, production and other resources than us. Although competitive factors may vary among product lines, our competitive position is primarily based on raw material and production costs, selling prices, product quality, product technology, manufacturing technology, access to new markets, proximity to the market and customer service and support. Our primary competitors for sales in the polypropylene industry in North America and Europe are other large international petrochemical companies. In general, demand is a function of economic growth in North America, Europe and elsewhere in the world. Mexico Segment Braskem and Idesa, one of Mexico’s leading petrochemical groups, formed Braskem Idesa S.A.P.I. in April 2010, with Braskem holding 75% of the total share capital and Idesa holding the remaining 25%, to develop, construct and operate the Mexico Complex, located in the Mexican state of Veracruz. During April 2016, Braskem Idesa commenced commercial operations of the Mexico Complex. As of December 31, 2025, our Mexico Segment had the largest annual polyethylene production capacity in Mexico, according to CMA. Our Mexico Segment generated net revenue of R$4,103 million during 2025, or 6% of the net revenue of all of our reportable segments. Products of Our Mexico Segment Our Mexico business unit produces ethylene, HDPE and LDPE at our Mexico Complex. We use all of the ethylene produced by our Mexico Complex as raw material for the production of polyethylene by this complex. The sales volume of polyethylene by this unit was 708 kton in 2025. Our Mexico Complex manufactures a broad range of polyethylene grades for use in consumer and industrial applications, including plastic films for food and industrial packaging, bottles, shopping bags and other consumer goods containers, automotive parts, and household appliances. Braskem Idesa remains focused on the growth of the PCR market, especially on product development and marketing capacity through partnerships and strategic alliances. Technologies selected for the Mexico Segment are proven in the petrochemical market and we believe it provides a competitive advantage in serving our customers to meet their specific needs by adapting and modifying our polyethylene products. Production Plants of Our Mexico Segment Our Mexico Segment operates four plants located in the Mexico Complex, consisting of: · an ethylene cracker, with an annual production capacity of 1,050 kton of ethylene, which commenced operations in March 2016; · two high-density polyethylene plants, with a combined annual production capacity of 750 kton, which commenced operations in April 2016; · a low-density polyethylene plant, with an annual production capacity of 300 kton, which commenced operations in June 2016; 87 Table of Contents · a 175.6 megawatt power generation plant consisting of one gas turbine (85.6 megawatts), two electric generators with steam turbines (45 megawatts each) and two auxiliar boilers (200 t/h); · an effluents treatment plant and a water treatment plant, which return water to the community in a condition that exceeds the applicable regulatory requirements; and · A logistic platform and distribution network consisting in 20,000 m2 of warehouse, more than 30,000 m2 of open space capacity, 21 silos (1,050 m3 each one), 14 loading docks and 14 km of rail tracks. Annual Production Production For the Year Ended December 31, Plant Capacity 2025 2024 2023 (in thousands of tons) Mexico (Polyethylene) 1,050 668 820 808 Raw Materials of Our Mexico Segment The principal raw material used in our Mexico Complex is ethane, in addition to other raw materials such as hexene, propylene and polyaldehyde (PAL). Other chemicals, catalyzers, additives and utilities such as natural gas, electricity and nitrogen are used to produce polyethylene in the Mexico Complex. Ethane Ethane is the principal raw material that we use to produce ethylene in the Mexico Complex and represents the principal production and operating cost of the Mexico Complex. The price of ethane that we purchase varies based on changes in the U.S. dollar-based U.S. reference price of these feedstocks. We currently source ethane, from two main sources: (i) locally, pursuant to the Ethane Supply Agreement with Pemex, a state-owned Mexican entity; and (ii) since October 2025, our Ethane Import Terminal, a long-term alternative source of imported ethane, and a 10 kilometer pipeline that connect the terminal directly to our Complex, through its subsidiary Terminal Química Puerto Mexico, S.A.P.I. (“TQPM”). As of the years ended December 31, 2025, 2024 and 2023, ethane supply from Pemex was 42%, 58% and 65% respectively and 58%, 42% and 35% respectively, from imported ethane. Braskem Idesa built an Ethane Import Terminal, a long-term alternative source of imported ethane, and a pipeline that connect the terminal directly to our Complex, through its subsidiary Terminal Química Puerto Mexico, S.A.P.I. (“TQPM”), which started operations in October 2025. The ethane capacity of the Ethane Import Terminal is enough to fulfill the total ethane needs for the Mexico Complex. This terminal provides the capacity to import more ethane than we currently require. As a result, our Mexico Segment will be able to source its total needs towards increasing our polyethylene production and taking advantage of the forecasted demand for polyethylene products in North America and globally. The estimated cost of the Ethane Import Terminal and related infrastructure investment is R$3,191million (US$580 million) excluding VAT, after the conclusion of several activities related to licenses, purchase of land and easement contracts, and a review of project and implementation costs for the new company. 88 Table of Contents On June 13, 2022, Braskem Idesa and TQPM entered into a stock purchase agreement with Advario, a carve-out of Oiltanking GmbH for a 50% equity stake in TQPM. The Mexican Antitrust agency (COFECE) approved such purchase on October 3, 2022. On March 1, 2023, Braskem Idesa received the payment of R$316 million (US$56 million) (including VAT) referring to the capital contribution disbursed, which was equivalent to 50% interest in TQPM’s capital by Braskem Idesa until the respective date, totaling R$584 million (US$112 million) (including VAT). The Ethane Import Terminal started operations in October 2025. On October 2023, with the support of its shareholders, Braskem Idesa and Advario, TQPM secured the financing of R$1,975 million (US$408 million) Senior Loan by INBURSA, ING KFW-IPEX, Credit Agricole, Mizuho, and DEG. It is a syndicated project finance loan, a five-year mini-perm deal with standard guarantees for a transaction of this type. The capital structure of the project was 30% equity and 70% debt of the total investment. For additional information, see “Item 3. D Risk Factors— Risks Relating to Us and the Petrochemical Industry — We depend on ethane supplied by Pemex in Mexico,” and “—We rely on limited or sole-source suppliers for our raw materials, inputs and energy, including transportation thereof.” Ethylene All the ethylene produced by our Mexico Complex is used by the polyethylene plants in our Mexico Complex. Other Materials and Utilities Our Mexico Segment uses natural gas as the main fuel for its production process, which is supplied mainly by private suppliers using the pipelines that are the property of the Centro Nacional de Control del Gas Natural (“Cenagas”). In the first quarter of 2021, Braskem Idesa entered into a natural gas transport service agreement with Cenagas for a term of 15 years, which is in full force and effect. For additional information, see “Item 3.D Risk Factors—Risks Relating to Us and the Petrochemical Industry—We depend on ethane supplied by Pemex in Mexico,” “—We rely on limited or sole-source suppliers for our raw materials, inputs and energy, including transportation thereof” and “—Political and economic conditions and government policies in Mexico, including political interferences in state-owned companies such as Pemex and Cenagas, and elsewhere may have a material impact on our operations.” Our Mexico Segment uses hexene as a raw material in the production of HDPE. We import hexene for the Mexico Complex from suppliers located in the United States. Our Mexico Segment uses catalysts supplied by Ineos Europe Limited. Supply Contracts of the Mexico Segment Ethane Supply Agreement (with Pemex) Braskem Idesa is party to an ethane supply agreement with Pemex, dated February 19, 2010, based on commercial conditions (“BI’s Ethane Supply Agreement”). On September 27, 2021, Braskem Idesa signed the third amendment to the BI’s Ethane Supply Agreement (the “Amended ESA”). Upon effectiveness, the Amended ESA modified certain terms of the BI’s Ethane Supply Agreement, including: 89 Table of Contents · with respect to our Mexico Segment, Braskem Idesa agreed to reduce the contractual volume to be purchased on a deliver or pay basis from 66,000 to 30,000 barrels of ethane per day (“Contractual Volume”), until February 2025, provided that, such term may be extended in the event of a delay of obtaining permits not attributable to Braskem Idesa or TQPM. The term has been extended until February 2026, or until the ethane import terminal is constructed, commissioned and commercially operational. As of February 9, 2026, the contractual volume commitment under the Amendment expired, and the parties entered into a right of first refusal arrangement in favor of Braskem Idesa, without any minimum volume obligation. · with respect to our Mexico segment, once the term referred to in the paragraph above expires, Braskem Idesa will have a right of first refusal to acquire ethane that Pemex and its affiliates do not consume for their own processes or for the production of ethylene and derivative products, in a daily volume agreed by Braskem Idesa and Pemex; and · as stated under the Amended ESA, the revised term is 20 years starting from the commencement date of supply under the BI’s Equity Supply Agreement, which occurred in June 2015, with three periods of extension of ten years each, being the first extension period mandatory for Pemex and Braskem Idesa. Ethane Supply Agreement (for the Fast Track) On February 25, 2020, Braskem Idesa entered into an open order quantity agreement with Braskem Netherlands for the supply of liquid ethane with a minimum purity level of 95% in effect until 2021, the BNL Ethane Supply Agreement. (the “BI-BNL Ethane Supply Agreement”). On October 9, 2021, January 24, 2022, September 27, 2022, April 2023 and November 7, 2023 we entered into several amendments to the BI-BNL Ethane Supply Agreement (the “BI-BNL Ethane Supply Agreement Amendments”) in order to enhance the alternate ethane supply provided to us by the Fast-Track Solution. The purpose of the BI-BNL Ethane Supply Agreement Amendment is the additional acquisition of the supply volume of liquid ethane above the maximum amount of the BI-BNL Ethane Supply Agreement loaded from February 2021 to December 31, 2023. On December 18, 2023, Braskem Idesa entered into a term agreement for the sale of ethane with Braskem Netherlands, B.V., substituted on January 1, 2024 for Braskem Trading & Shipping B.V., in effect until March 2033 using Mont Belvieu price reference, in order to import: (i) additional capacity of ethane to the ethane currently supplied by Pemex before Ethane Import Terminal becomes fully operational; and (ii) all ethane requirements of Braskem Idesa after Ethane Import Terminal become operational. Storage and Transportation Services Agreement (with TQPM) On October 31, 2023 Braskem Idesa entered into a Storage Services Agreement and a Transportation Services Agreement with Terminal Química Puerto México S.A.P.I. de C.V. (“TQPM”), with a term of 20 years. Through these contracts, TQPM will be the responsible for receiving ethane at the Jetty 8 of Laguna de Pajaritos, which is part of the Terminal, unloading from the Braskem Idesa’s chartered vessels and storing it in cryogenic tanks. TQPM is also responsible for transport the ethane by a pipeline that will connect the terminal directly to our Mexico Complex. The ethane that TQPM will store and transport proceed from the long-term agreement between Braskem Idesa and Braskem Netherlands, B.V. On January 1, 2024, Braskem Netherlands, B.V. was replaced by Braskem Trading & Shipping B.V, as detailed on the above section. 90 Table of Contents Electricity and Water The Mexico Complex has its own power generation plant consisting of one gas turbine and two steam turbines, which can generate more than 100% of the Mexico Complex’s energy consumption. In addition, the Mexico Complex is also connected to the high-voltage power grid of Comisión Federal de Electricidad (the Mexican government-owned electricity company) as an alternative power source. The Mexico complex generates all of its requirements of steam and its water requirements are supplied by the Comisión Nacional del Agua (the Mexican government-owned water commission) pursuant to an agreement that expires in 2029 and is subject to renewal. The main feedstock used for power generation is natural gas, which is mainly supplied by private suppliers and Pemex through Cenagas. For additional information, see “Item 3.D Risk Factors—Risks Relating to Mexico—Political and economic conditions and government policies in Mexico, including political interferences in state-owned companies such as Pemex and Cenagas, and elsewhere may have a material impact on our operations.” Sales and Marketing of Our Mexico Segment For the year ended December 31, 2025, our Mexico Segment sold polyethylene products to 41 customers in the Mexican market and 32 customers abroad. We have a diversified product mix that allows us to serve a broad range of end users in several industries. The customers of our Mexico Segment generally are third generation petrochemical producers that manufacture a wide variety of plastic-based consumer and industrial goods. The following table sets forth our net revenue derived from sales of our Mexico Segment for the years indicated: For the Year Ended December 31, 2025 2024 2023 (in millions of reais) Net revenue: Mexico 4,103 5,148 4,449 Domestic Mexican Sales One of our priorities has been to develop long-term relationships with our customers and, given the cyclical nature of the markets for our polyethylene products, we believe that we can strengthen customer loyalty during periods of reduced demand for polyethylene by providing a reliable source of supply to these customers during periods of high demand. We work closely with our customers to determine their needs, to provide technical assistance and to coordinate the production and delivery of our products. Considering our Mexico Complex’s logistical infrastructure and logistics centers in different regions, we are able to forecast and respond faster to customer demand by region. Thus, we can anticipate and plan our production and logistics in order to make the products available on time and at the points of shipment. As our products portfolio can adjust to the nature of the demand of the Mexican market, we have greater flexibility to adapt and better serve the market. In addition to direct sales of polyethylene to our customers, our Mexico Segment sells products in Mexico through independent distributors. Our Mexico Segment is served by distributors through which we distribute our products pursuant to formal agreements and spot market transactions. We have selected our distributors based on their ability to provide full service to their customers, including the ability to prepare our products on a customized basis. These distributors sell our polyethylene products to manufacturers with lower volume requirements and are able to aggregate multiple orders for delivery to customers that would otherwise be uneconomical for us to serve. Furthermore, by serving smaller customers through a network of distributors, our account managers focus their efforts on delivering high quality service to a smaller number of large, direct customers. 91 Table of Contents Export Sales The main focus of our Mexico Segment is to maintain our leading position in the Mexican market while continuing to export in order to manage the relationship between our production capacity and domestic demand for our products. We believe that our continued presence in export markets is essential to help manage any overcapacity in the Mexican market. The excess volume is exported to several regions such North and South America, Asia, and Europe, using our existing sales force and complementing our portfolio in those regions, in order to use the already established Braskem sales channels in the United States and Europe (also in South America and traders in Asia), the strategy of exports of the Mexico Segment production, for these regions, is to develop and retain customers, in order to seek a greater added value in exports, especially considering the competitive logistics for serving the United States. This new polyethylene complex reinforces our position with polyethylene customers worldwide, which enhances our position in North America. Prices and Sales Terms We determine the Mexican domestic prices for polyethylene by reference to North American export prices. Our customers in Mexico may pay in full on delivery or elect credit terms that require payment in full within 60 days, on average, following delivery for most customers. Our Mexico Segment’s export sales consist of volumes to South America, Europe and the United States through traders and distributors. Pricing is based on international market price references. As discussed under “—Export Sales” above, since the beginning of 2017, the Mexico Segment has been focused on export sales directly to customers in the United States, Europe, Central America and the Caribbean and South America, so the price in the local of the sale, excluding the logistics costs to move the product until that place and the other variable costs, ex-raw material, of exports has been increasing. Competition We have the largest annual production capacity of polyethylene in Mexico, according to CMA. We compete in Mexico with a subsidiary of Pemex and with importers of polyethylene, primarily producers located in the United States and Canada. We compete for export sales of our polyethylene products with producers from other countries in Latin America and in markets in the United States, Latin America and Europe. Our export business is a commodity business, and we compete with a variety of resin producers, some of which have greater financial, research and development, production and other resources than us. Our competitive position in the export markets that we serve is primarily based on raw material costs, selling prices, product quality and customer service and support. Technology, Research and Development Research and Development Research and development (“R&D”) are key to developing a sustainable portfolio of solutions that address competitiveness, differentiation, carbon emission reductions and circularity. Our main priority is to enable growth through upgrade and development of new technologies to ensure business perpetuity. A close relationship with innovation eco-system, customers and market amplifies our ability to understand the current needs and anticipate future opportunities. We develop new technologies at our research and development centers: (1) Innovation and Technology Center in Triunfo, Rio Grande do Sul, Brazil; (2) Innovation and Technology Center in Pittsburgh, Pennsylvania, United States; (3) Braskem Laboratory for Biotechnology Development in Campinas, São Paulo, Brazil; (4) Process Technology Development Center in Mauá, São Paulo, Brazil; (5) European Technical Center in Wesseling, North Rhein Westphalia, Germany;(6) Mexican Technical Center in Nanchital, Vera Cruz, Mexico; and (7) Braskem Renewable Innovation Center, in Lexington, Massachusetts, United States, where we develop new processes, technologies, products and applications for many market segments. As of December 31, 2025, we had 352 employees dedicated to R&D. Through these centers, we coordinate and conduct our research and development activities that include scale-up (pilot plants operation), analytical testing, catalyst development and testing, advanced materials characterization, process technology development and research capabilities on renewable sources, biotechnology, recycling and decarbonization. 92 Table of Contents In 2025, we invested R$43.2 million (US$7.7 million) in innovation and technology CAPEX considering the infrastructure in the United States, Brazil and Europe, which includes resources that support the entire innovation pipeline, such as laboratory and industrial equipment, and structures necessary for project development. As part of the effort to improve our current product portfolio, several projects were carried out in 2025. In Brazil, initiatives include the optimization of resin grade portfolios, which reduced property variations during production campaigns, resulting in greater operational efficiency. A new bio-based HDPE was also developed for nonwoven applications, offering improved processability, higher thermal resistance, and excellent color stability. Another example of product improvements relate to Europe, where we launched a new PP copolymer with high optical transparency, designed for modified-atmosphere packaging (MAP). In the United States, part of the efforts focused on improving productivity and quality during transitions between different product runs, as well as enabling greater flexibility across different assets, which results in reduced losses and greater value for Braskem. Another important aspect of this type of initiative is the reduction of waste generation, aligned with our sustainability goals. Braskem believes that bio-revolution is one of the most promising paths toward building a more sustainable society. The large-scale use of biomass converted into lower-carbon products are expected to contribute to the measures established to mitigate the effects of climate change. Within the bio-based pillar, the projects aim to develop low-carbon chemical products at commercial scale, using renewable raw materials and sustainable processes, with a focus on achieving a negative carbon footprint. In 2025, we continued our partnership with Lallemand Biofuels & Distilled Spirits (LBDS), dedicated to the development of renewable chemicals. The laboratories located in Lexington, in the United States, and in Campinas, in Brazil, remain strategic centers for the development of technologies that will support the Compans in our long-term goal of carbon neutrality. The research conducted is focused on converting biomass-based raw materials into sustainable chemicals and materials. These initiatives reinforce Braskem’s role as a leader in renewable polymers and chemicals and reflect our ongoing commitment to innovation aimed at sustainability and at reducing dependence on non-renewable resources. Within the recycling pillar, we continue to advance in developing solutions that contribute to our long-term goals of eliminating plastic waste and increasing the use of recycled resins in high-performance applications. In 2025, new grades were launched, strengthening our portfolio of post-consumer recycled (PCR) resins. In the flexibles segment, our developments once again enabled the recovery of millions of plastic packages. In the rigids segment, we recorded important progress with the launch of new materials. Notable examples include the development of a high-flow PP PCR designed for injection-molded household items. We also launched a raffia-based PP grade for furniture injection, offering a sustainable and competitive alternative for the sector. Another highlight is the new HDPE grade for rotomolding, specially developed for garden pots, combining mechanical strength with excellent aesthetic finish. These developments open new opportunities for the use of PCR in demanding applications, bringing greater competitiveness, innovation, and environmental value to our customers. The metric currently used to evaluate Sustainable Innovation, the Sustainability Index (SI), is based on four qualitative pillars. Projects are classified as positive, neutral, or negative in sustainability and compared to the total number of projects in the pipeline. As a result, the actual impact or level of effort involved is not captured, given the differences in scope and impact across projects. Considering these limitations, we decided to introduce a new metric that better reflects the Company’s strategic priorities and the resources allocated to them. The new KPI will measure the global percentage of innovation resources directed toward projects with positive sustainability bias, such as bio-based initiatives and recycling technologies. 93 Table of Contents To calculate this metric, we will consider OPEX and CAPEX directly associated with bio-based and recycling projects. Using this methodology, the new metric indicates that 49% of our innovation capital is currently directed toward sustainability-focused projects. Maintenance Brazil and Mexico Most of our maintenance is performed by third-party service providers. For example, we have contracts with Siemens Energy, Asea Brown Boveri, General Electric, Tenenge– Montagem e Manutenção Ltda. (a subsidiary of Novonor S.A. – Em Recuperação Judicial.), Rip Serviços Industriais S.A, In Haus Industrial and other service providers to perform maintenance for our basic petrochemical plants and other units. Our maintenance strategy and planning are defined by our maintenance team while maintenance detailing and execution are primarily performed by contractors, with a small portion performed by our maintenance technicians. United States and Europe Most of our maintenance is performed by internal maintenance team members. We have contracts with many of the third-party companies identified for Brazil, but we do not use their personnel routinely. Our maintenance strategy, planning, and scheduling are defined by our maintenance team. The execution of our maintenance work is performed mainly by team members but can vary by site and by the required work. Chemicals Plants Regular chemicals plant maintenance requires complete plant shutdowns from time to time, and these shutdowns usually take 30 to 45 days to complete. We occasionally undertake brief shutdowns of the chemical operations at our basic petrochemical plants that do not materially affect our production output, primarily for maintenance purposes, catalyst regeneration and equipment cleaning. In addition, because we have two independent olefins units and two independent aromatics units at the Northeastern Complex and two independent olefins units at the Southern Complex, we may continue production of chemicals at these complexes without interruption, even while we perform certain maintenance services. The next scheduled general maintenance shutdown of: · the Southern complex’s olefins (Olefins II) and aromatics unit are scheduled to take place in 2027; and · the Southeast complex’s aromatics and olefins unit is scheduled to take place in 2028. Plants of Our Brazil, and United States and Europe Segment We have a regular maintenance program for each of our polyolefin plants. Production at each of our polyolefin plants generally is shut down for 15 to 30 days every 3 to 6 years to allow for regular inspection and maintenance. In addition, we undertake other brief shutdowns for maintenance purposes that do not materially affect our production of polyolefins. While our chemicals plants must be shut down for up to 45 days every 6 to 8 years for maintenance, our polyolefins plants may be shut down for shorter periods due to the smaller size and complexity of the assets when compared to chemical plants. We coordinate the maintenance cycles of our polyolefin plants located at Brazil and Mexico with those of our basic petrochemicals plants. Similarly, our polyolefins plants located in the United States and Europe attempt to coordinate their maintenance cycles with the routines of their largest suppliers. 94 Table of Contents We have a regular maintenance program for each of our vinyls plants. Our Northeast PVC plants are generally shut down for 15 to 35 days every two or three years to allow for regular inspection and maintenance. Environmental Regulation We, like other petrochemical producers, are subject to stringent federal, state and local environmental laws and regulations concerning human health, the handling and disposal of solid and hazardous wastes and discharges of pollutants into the air, water and soil, among others. Petrochemical producers are sometimes subject to unfavorable market perceptions as a result of the environmental impact of their business, which can have an adverse effect on their results of operations. Costs and capital expenditures relating to environmental, health or safety matters are subject to evolving regulatory requirements and will depend on the timing of the promulgation and enforcement of specific standards which impose the requirements. Compliance with Environmental Laws in Brazil The Brazilian government enacted an Environmental Crimes Law in 1998 that imposes criminal penalties on corporations and individuals causing environmental damage. Corporations found to be polluting can be fined up to R$50.0 million, have their operations suspended, be prohibited from government contracting, be required to repair damage that they cause and lose certain tax benefits and incentives. Executive officers, directors and other individuals may be imprisoned for up to five years for environmental violations. We make all reasonable efforts to ensure that our operations are in compliance in all material respects with applicable Brazilian environmental laws and regulations currently in effect. Our internal audit processes and our management system in place aim to ensure that the permits that will expire be renewed in a timely manner. However, changes to applicable laws and regulations may require us to revise our standards, which may take some time to implement. Some environmental studies that we have commissioned have indicated instances of environmental contamination at certain of our plants. In addition, we and certain of our executive officers have received notices from time to time related to minor environmental violations and are or have been subject to investigations or legal proceedings with respect to certain alleged environmental violations. These environmental issues, and any future environmental issues that may arise, could subject us to fines or other civil or criminal penalties imposed by Brazilian authorities. Operating Permits Under Brazilian federal and state environmental laws and regulations, we are required to obtain operating permits for our manufacturing plants. If any of our environmental licenses and permits lapse or are not renewed or if we fail to obtain any required environmental licenses and permits, we may be subject to fines ranging from R$500 to R$50 million, and the Brazilian government may partially or totally suspend our activities and impose civil and criminal sanctions on us. Each State in which we operate has its own environmental standards and state authorities have issued operating permits that must be renewed periodically. Additionally, all projects for the installation and operation of industrial plants in the Northeastern Complex, Southern Complex, São Paulo Complex, Rio de Janeiro Complex and Alagoas plants are subject to approval by various environmental protection agencies, which must approve installed projects prior to their commencement of operations and must renew such approval periodically thereafter. State authorities have issued operating permits for all of our plants, as follows: the Northeastern Complex (State of Bahia); Southern Complex (State of Rio Grande do Sul), São Paulo Complex, Cubatão and Paulínia plants (State of São Paulo), Rio de Janeiro Complex (State of Rio de Janeiro) and our Alagoas plants (State of Alagoas). We make all reasonable efforts to ensure that our operations in Brazil are in compliance in all material respects with applicable Brazilian federal, state, and local environmental laws and regulations currently in effect, and we have an internal audit process and a management system in place that help us ensure that the permits that will expire be renewed in a timely manner and that we are in compliance with the environmental laws and regulations. 95 Table of Contents Industrial Waste Grupo Aegea Saneamento, which controls CORSAN, a sanitation company, operates an integrated system for liquid effluents treatment, or Sitel, in the Southern Complex. Sitel treats wastewater generated by us and the other petrochemical producers at the Southern Complex at a liquid effluents treatment station located in the Southern Complex. This treatment station also includes a system for the collection of contaminated wastewater and disposal after treatment. We treat wastewater generated by us at the Rio de Janeiro Complex at a liquid effluent treatment station located in the Rio de Janeiro Complex. This treatment station also includes a system for the collection and disposal of contaminated wastewater. Hazardous solid waste is co-processed in cement kilns or incinerated and other kinds of solid waste are disposed of in landfills. We treat wastewater generated by us at the São Paulo Complex at a liquid effluent treatment station located in the São Paulo Complex. This treatment station also includes a system for the collection and disposal of contaminated wastewater. Hazardous waste generated at the São Paulo Complex is co-processed in cement kilns or incinerated and other kinds of solid waste are disposed of in landfills. In our Bahia plants, all wastewater is transported to the wastewater treatment facility at Cetrel. Hazardous liquid and solid waste are incinerated at high temperatures and non-hazardous solid waste is co-processed and sent to cement companies to be used as energy in cement kilns. Other kinds of solid waste are disposed of in landfills. In our Alagoas plants, organochlorines waste is incinerated, producing steam and wastewater. All wastewater is treated at a treatment station located in the complex. Solid waste is separated and disposed of in landfills. Additionally, we have a series of recycling programs that include recycling of solid waste and wastewater. As of December 31, 2025, we recycled or reused 51.0% of the solid waste generated by our plants and 27.8% of the water used in our production processes. Mercury As of April 8, 2020, our chlor-alkali plant in Bahia based on mercury cell technology shut down following the end of the facility’s useful life, and it has been decommissioned. The decommissioning strategy involves equipment decontamination/dismantling and proper waste disposal. In December 2023, the Company finalized the dismantling of the entire unit (except the areas of demercurization of effluents and solid waste) and disposing of its properly decontaminated waste. In compliance with applicable regulation (CONAMA No. 420), in 2024 all the phases for the environmental diagnosis of potentially contaminated areas (Preliminary Assessment, Confirmatory Investigation and Detailed Investigation) were completed. In 2025, a Human Health Risk Assessment for the area was initiated and is expected to be concluded in the first half of 2026. Also, in 2026 we expect to develop the remediation intervention plan for the facility. Compliance with Environmental Laws in the United States Our operations in the United States are subject to federal, state and local laws and regulations governing the discharge of effluents and emissions into the environment; the generation, storage, handling, management, transportation and disposal of hazardous waste, industrial waste and other types of waste; the use, storage, and handling of various types of products and materials; and the protection of human health, safety and the environment. Such laws include but are not limited to, the Clean Air Act, the Clean Water Act of 1970, the Toxic Substances Control Act (“TSCA”), the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), and the Resource Conservation and Recovery Act (“RCRA”), and their implementing regulations. Specific permits must be obtained to authorize certain types of operations, emissions or discharges. For example, our plants in Texas, Pennsylvania, and West Virginia are required to maintain various permits relating to air quality and treatment of industrial wastewater, and to comply with regulatory requirements relating to waste management. Our operations in the United States are in compliance in all material respects with applicable United States federal, state and local environmental laws and regulations currently in effect and, to the extent any operations are determined to experience any deviations from applicable requirements, we respond as is necessary under the circumstances and governing laws. 96 Table of Contents As with the U.S. petrochemical industry generally, costs associated with compliance with existing and anticipated laws and regulations increases the overall cost of operating our U.S. plants, including operating costs and capital costs to construct, maintain, and upgrade equipment and plants. These laws and regulations have required, and are expected to continue to require, expenditures of both a capital and an expense nature. The Clean Air Act, which was last amended in 1990, requires the United States Environmental Protection Agency, or the EPA, to set National Ambient Air Quality Standards (“NAAQS”) for pollutants considered harmful to public health and the environment. The Clean Air Act requires periodic review of the science upon which the standards are based and of the standards themselves. NAAQS for ozone and fine particulate matter (referred to as PM2.5) promulgated by the EPA have resulted in identification of nonattainment areas throughout the country, including certain areas within Texas, Pennsylvania, and West Virginia, where Braskem America operates plants. As a result of these nonattainment designations by the EPA, state or local air pollution control agencies are required to apply permitting and/or control requirements intended to reduce emissions of ozone precursors (nitrogen oxides and volatile organic compounds), and fine particles (including PM2.5 precursors) in order to demonstrate attainment with the applicable NAAQS. Such requirements may include imposition of offset requirements and could result in enhanced emission control standards. The last time the EPA reviewed the NAAQS for ozone was in 2020. At that time, the EPA determined to retain the current primary and secondary NAAQS for ozone of .070 ppm. On February 7, 2024, the EPA announced that it was significantly lowering the primary (health-based) annual NAAQS for PM2.5 from 12.0 µg/m3 to 9.0 µg/m3, however such action was promptly met with legal challenges from state and industry groups. Shortly thereafter, the EPA, under the new Trump administration, likewise filed a motion to vacate the 2024 standard, claiming a lack of legal authority. Although the new standard was set to take effect in February 2026, the rule’s future remains uncertain pending the resolution of the legal challenges before the D.C. Circuit Court of Appeals. If the rule is vacated, nonattainment designations and permitting for fine particulate matter would remain subject to the previous, less stringent standards. If the rule is upheld, any states in nonattainment with the new standard will be required to revise implementation plans to demonstrate what steps they will take to further reduce the concentration of PM2.5 in the ambient air to come into attainment, including through regulating PM2.5’s precursor pollutants. Such state-specific requirements would become applicable, if at all, following a multi-year process, because the plans require EPA approval. In turn, state regulations implementing changes consistent with the states’ revised implementation plans will likely not be promulgated for several years. In addition to permitting and/or control requirements that may result from the implementation of the NAAQS at the state or local level, the EPA may promulgate new or revised federal New Source Performance Standards or National Emission Standards for Hazardous Air Pollutants that would apply directly to certain facility operations and may require the installation or upgrade of control equipment in order to satisfy applicable emission limits and/or operating standards under these regulatory programs. 97 Table of Contents Additionally, there are various legislative and regulatory measures to address greenhouse gas emissions from coal-fired and oil-fired energy plants which are in various stages of review, discussion or implementation by Congress and the EPA. In early 2025, EPA Administrator Lee Zeldin, in response to direction from the Trump Administration, announced the EPA’s intention to reconsider many Clean Air Act regulations, including without limitation those aimed at reducing greenhouse gas emissions. At this stage, those rules have been proposed for recission, and the EPA has even proposed to withdraw the original greenhouse gas endangerment finding which served as the legal underpinning for many of the federal Clean Air Act regulations over the last decade or longer. While it is currently not possible to predict the final impact, if any, that these efforts may have on the affected regulations, nor on Braskem America or the U.S. petrochemical industry in general, if the EPA’s current proposals are finalized, any regulatory program that depends on greenhouse gases being classified as “pollutants” with the potential to impact public health under the Clean Air Act could be vulnerable. Vehicle and other manufacturing sectors have also invested heavily in technologies and compliance strategies built around existing standards, and rescission has the potential to disrupt long-term planning and product supply and demand. The final resolution of the EPA’s current broad deregulatory efforts could also result in increased utility costs to operate our plants in the United States if they remain in effect. The EPA’s regulations of electricity generating plants do not specifically apply to Braskem America’s operations but could have a collateral effect. Indeed, industry and private ratepayers alike are already experiencing spiking electricity costs. In addition, potential future regulations limiting greenhouse gas emissions of carbon content of products, which target specific industries such as petrochemical manufacturing could adversely affect our ability to conduct Braskem America’s business and also may reduce demand for its products. Also relevant to Braskem America is the 2024 final rule entitled “Accidental Release Prevention Requirements: Risk Management Programs Under the Clean Air Act; Safer Communities by Chemical Accident Prevention (the “RMP Rule”). Unlike the utility-sector rules discussed above, the RMP Rule does apply to certain of Braskem’s operations in the United States. The RMP Rule was originally scheduled to take effect in 2025, however the EPA later announced that it would undertake a new rulemaking process to reassess the requirements in the RMP Rule in light of the Trump Administration’s policy priorities. Most recently, the EPA stated that it intended to finalize a new RMP rule later than anticipated, sometime in “late 2026.” Accordingly, the regulated industry should expect to see a proposed rule revising or rescinding certain of the requirements from the 2024 rule in early 2026. For now, however, the 2024 rule remains in effect. Compliance with Environmental Laws in Mexico Braskem Idesa in Mexico is subject to federal, state and local laws and regulations that govern the discharge of effluents and emissions to the environment; the generation, storage, handling, management, transportation and disposal of hazardous waste, industrial waste and other types of waste; the use, storage and handling of various types of products and materials; and the protection of human health, safety and the environment. Specific permits may be required for certain types of operations. Ethylene and Aromatic Hydrocarbons Mixture production require permission of the Secretary of Energy and Federal Commission for Sanitary Risks (COFEPRIS) related to risk management and public health, The Mexican legislation regulates the emission of particles, ozone, fixed sources and everything related to GHGs. There are regulations on water, effluent treatments and specific conditions for discharge of the effluent. Our operations in Mexico are in compliance in all material respects with applicable Mexican federal, state and local environmental laws and regulations currently in effect. In Mexico, the Federal Attorney’s Office for Federal Environmental Protection (PROFEPA) verifies compliance with the Mexican Regulation and Permits through audits. Failure to comply with Mexican regulations may lead to economic and administrative penalties, including Operations shutdown in certain cases. 98 Table of Contents Compliance with Environmental Laws in Germany and the European Union Our operations in Germany are subject to German federal, state and local laws and regulations governing the discharge of effluents and emissions into the environment and the handling and disposal of industrial waste and otherwise relating to the protection of the environment and waste management. Our operations in Germany are in compliance in all material respects with applicable German federal, state and local environmental laws and regulations currently in effect. As with the petrochemical industry in the European Union generally, compliance with existing and anticipated German laws and regulations increases the overall cost of operating our European business, including operating costs and capital costs to construct, maintain and upgrade equipment and plants. These laws and regulations have required and are expected to continue to require us to make expenditures of both a capital and an expense nature. At our Schkopau and Wesseling plants in Germany, we are required to maintain air, radiation, waste water and waste management permits. We are in possession of all necessary permits. Furthermore, our Wesseling and Schkopau plants in Germany are subject to existing European GHG regulations and a cap-and-trade program relating to emissions. We have purchased sufficient carbon dioxide emissions permits for our operations until the end of 2025, provided we operate under normal business conditions. We will purchase any additional permits that may be required on the emission trade market. We are not aware of any new environmental regulations that would materially affect our European operations. Accordingly, we cannot estimate the potential financial impact of any future European Union or German environmental regulations. Sustainability In April 2018, our board of directors approved our policy on global sustainable development. Its objective is to encourage economic growth, environmental preservation and social justice by developing sustainable solutions related to chemical and plastic production. In connection with these objectives, we have developed a three-pronged approach: (1) seek and develop sustainable sources and operations, (2) develop and deliver a portfolio of sustainable products and services, and (3) work with our clients to offer sustainable solutions that benefit society as a whole. Circular Economy Consistent with our purpose of contributing to the transition from a linear economy into a circular economy, effectively demonstrating our commitment to sustainable development, we announced our long-term ESG goals in 2019. This commitment, which evolved in 2020 into a carbon-neutral circular economy, positions Braskem as part of the solution, working with all interested parties to transform the linear economy into a circular one, where society’s needs are met by more innovative and sustainable materials, processes, and systems. The initiatives include offering recycled content solutions to our clients, developing recycling technologies and innovation, engaging consumers through educational actions on conscious consumption and proper disposal, as well as supporting our clients to design more sustainable packaging. Property, Plant and Equipment Our properties consist primarily of petrochemical production plants in: · Camaçari, in the State of Bahia, Brazil; · Triunfo, in the State of Rio Grande do Sul, Brazil; 99 Table of Contents · Duque de Caxias, in the State of Rio de Janeiro, Brazil; · Paulínia, Cubatão, Santo André and Mauá, in the State of São Paulo, Brazil; · Maceió and Marechal Deodoro, in the State of Alagoas, Brazil; · La Porte, Freeport and Seadrift, in the State of Texas, United States; · Marcus Hook, in the State of Pennsylvania, United States; · Neal, in the State of West Virginia, United States; · Schkopau and Wesseling, in Germany; and · Coatzacoalcos, in Mexico. For more information, see note 11 to our audited consolidated financial statements included elsewhere in this annual report. Our principal executive offices are located in São Paulo, in the State of São Paulo, and we have an administrative support office in the City of Salvador, in the State of Bahia, Brazil, in Philadelphia, in the State of Pennsylvania, in the United States, and in Rotterdam, in Netherlands. We also have equity interests in investments located in other countries. We own all of our production plants, but we generally lease our administrative offices. The following table sets forth our properties as of December 31, 2025, by location of plants, products produced and size of plant. Type of Product Location of Plants Size of Plant Product Country State City (in hectares)(1) Chemicals Brazil Rio Grande do Sul Triunfo 153 Chemicals Brazil Bahia Camaçari 137 Chemicals Brazil São Paulo Santo André 72 Chemicals/Polyethylene Brazil Rio de Janeiro Duque de Caxias 56 Chemicals Mexico Veracruz Coatzacoalcos 24 Polyethylene Brazil São Paulo Cubatão 86 Polyethylene Brazil Rio Grande do Sul Triunfo 80 Polyethylene Brazil Bahia Camaçari 38 Polyethylene Brazil São Paulo Santo André 17 Polyethylene Mexico Veracruz Coatzacoalcos 15 Polypropylene United States Texas La Porte 87 Polypropylene Brazil Rio Grande do Sul Triunfo 43 Polypropylene Brazil São Paulo Paulínia 40 Polypropylene United States West Virginia Neal 27 Polypropylene Germany North Rhine-Westphalia Wesseling 26 Polypropylene Brazil São Paulo Mauá 20 Polypropylene Brazil Rio de Janeiro Duque de Caxias 15 Polypropylene United States Texas Freeport 9 Polypropylene United States Pennsylvania Marcus Hook 7 Polypropylene Germany Saxony-Anhalt Schkopau 4 Polypropylene United States Texas Seadrift 3 Caustic soda/chlorine(2) Brazil Alagoas Maceió 34 PVC Brazil Alagoas Marechal Deodoro 74 PVC/caustic soda(3)/chlorine(3) Brazil Bahia Camaçari 13 (1) One hectare equals 10,000 square meters. (2) In September 2025, the Company has decided to hibernate its last chlor-alkali unit, located in Maceió, state of Alagoas. The decision was part of the long-term strategy to improve competitiveness and better serve customers. (3) In January 2020, Braskem announced the permanent shutdown of its chlor-alkali production facility located in Camaçari, in the State of Bahia. The shutdown is explained by the end of the facility’s useful life and started in April 2020, following the applicable safety standards and seeking to protect people, local communities and the environment. 100 Table of Contents We believe that all of our operating plants are in good operating condition. As of December 31, 2025, the consolidated net book value of our property, plant and equipment was R$37,579 million. Certain of our chemicals plants, our polyethylene plant and our polypropylene plant located in the Rio de Janeiro Complex had been mortgaged to secure certain of our financial transactions, which were already paid off, and the mortgage liens are expected to be released Insurance In addition to the policies described below for our Brazilian and international operations, we maintain other insurance policies for specific risks, including general and product liability, environmental liability, directors and officers liability, workers’ compensation, domestic and international credit operations, marine cargo and charterers’ liability insurance, among others. We believe that our insurance coverage is reasonable in amount and consistent with industry standards applicable to chemical companies operating globally. Operations in Brazil, Mexico, the United States and Germany We carry insurance for all our plants against property damage and consequent business interruption through comprehensive “all risk” insurance policies. This insurance program is underwritten through separate policies in Brazil, Mexico, the United States and Germany by large insurance companies. The leading insurers are Mapfre (rating S&P A-), and Inbursa (rating S&P BBB). These policies are valid until April 2026. Set forth is a table with additional information related to our all-risk insurance policies. Policy / Region US$ bn Value at risk — P D + BI (1) Indemnity Limit PD + BI(1) Brazil(2) 30.4 3.9 Mexico(2) 5.1 1.9 United States and Germany(2) 5.2 1.2 (1) PD = Property Damage; BI = Business Interruption. (2) Includes coverage for acts of terrorism up to US$450 million limit for property damage. Our policies provide coverage for losses that arise from accidents caused by or resulting from fire, explosion, and machinery breakdown, among others, and consequential business interruption, with maximum indemnity periods ranging from 12 to 33 months, depending on the plant and/or coverage. 101 Table of Contents New projects can be covered for construction/erection all risks under the existing Property policies or through a standalone project-specific policy. We are exposed to operational risks, and our insurance policy requires coverage to be contracted through a complex insurance program involving multiple insurers and reinsurers in the commercial market, which have limited and variable capacity to offer insurance policies over time. In order to seek alternatives for the composition of hedges, the possibility of transferring operational risks through the mutual insurer “Everen” was identified. Everen is a global leader in the energy sector, including oil and gas, refining, chemical and petrochemicals, electric power and mining and has a portfolio of selected participants. In addition to providing a stable capacity to Braskem, Everen has a structure in which there is reciprocal cooperation among the insured companies participating in a known risk environment, in addition to a lower administrative cost compared to the commercial insurance market, providing less volatile and potentially competitive insurance premium. Compliance We have a Global Compliance System supported by a Code of Conduct, a Compliance System Policy, an Anti-corruption Policy and a series of internal directives that guide management, employees and counterparties, reinforcing the Company’s ethical principles and standards of professional conduct. As part of this structure, the Company maintains an independently managed Ethics Line available for employees and non-employees. Every whistleblower report is impartially investigated by an independent team, and the results, along with subsequent action plans, are communicated to the Ethics Committee and the Statutory Compliance and Audit Committee. This governance foundation has been consistently validated over the years. In March 2020, based on the certification report issued by independent monitors who oversaw the Company for three years, Brazil’s Federal Prosecutor’s Office (MPF) confirmed the conclusion of its monitoring, attesting to the effectiveness of Braskem’s compliance program and compliance with the MPF Agreement. Shortly afterward, on May 13, 2020, both the U.S. Department of Justice (DoJ) and the Securities and Exchange Commission (SEC) confirmed the end of their respective monitoring processes. The Brazilian Office of the Comptroller General (CGU) later concluded its monitoring of the Compliance Program on August 14, 2023. Since 2021, the Company has held certification under ISO 37001 – Anti-bribery Management Systems, granted by an external auditor accredited by INMETRO. QMS Certification has been responsible for auditing Braskem in both the 2021–2023 and the 2024–2025 certification cycles, confirming that its anti-bribery management system complies with the standards established by the International Organization for Standardization (ISO). The Company’s commitment to integrity has also been reflected in external evaluations and global initiatives. Braskem has consistently performed above the sector average in Instituto Ethos’ Integrity, Corruption Prevention and Combat Indicator, demonstrating the solidity of its Global Compliance System. In 2023, the Company joined Transparency 100%, an initiative of the UN Global Compact aimed at promoting corporate transparency in Brazil, further reinforcing its public commitments to ethical and responsible business practices. Building on this foundation, 2025 marked a step in the transformation of Braskem’s Compliance System. Aligned with the Company’s strategic direction, Braskem optimized practices, reviewed processes and consolidated activities globally. The resulting integrated structure expanded beyond the Compliance function to include key corporate areas such as Finance—responsible for Internal Controls and Risk Management—thereby enhancing the system’s corporate perspective and reinforcing its established consistency and maturity. As part of this transformation, the Company reviewed and updated its main normative documents, which govern topics such as risk management, procurement, sales, internal controls, internal audit, corporate credit card use, delegation of authority, due diligence, conflicts of interest, business courtesies, investigations, sponsorships and donations, travel management, interactions with public agents and related-party transactions. These revisions reflect process optimization and alignment with global best practices. 102 Table of Contents ITEM 4.A UNRESOLVED STAFF COMMENTS Not Applicable.