Parties

Braskem S.A. (“Braskem” or “Issuer”) and Usina Conquista do Pontal S.A. (UCP), Agro Energia Santa Luzia S.A. (USL) and Odebrecht Agroindustrial Participações S.A. (ODB Agro Par).

Relationship with the Issuer

UCP, USL and ODB Agro Par are indirect subsidiaries of Odebrecht S.A., which is the indirect parent company of the Issuer.

Purpose

First Amendment to the Hydrous Ethanol Supply Agreement.

Main terms and conditions

Consists of an amendment to change the invoicing method used for purchases of feedstock (Hydrous Ethanol) for future delivery, with payment up to December 30, 2016. The amendment establishes the price, which is the lesser of the ceiling established in the amendment and the reference price in the original agreement at the time of delivery.

Agreement execution date

December 27, 2016

Any participation by the counterparty, its partners or managers in the issuer’s decision-making process or in the negotiation of the transaction as representatives of the issuer

UCP, USL and ODB Agro Par and/or their representatives and/or managers did not participate in the negotiations or in the decision process to execute the amendment as representatives of the Issuer.

Detailed justification of the reasons why the management of the issuer believes the transaction was carried out on an arm’s length basis or involves adequate compensatory payment

In the Company’s opinion, by incorporating a price ceiling, the amendment to the invoicing method for purchases for future delivery establishes adequate compensation, given the expectation of price increases during the intercrop period, which is when the product will be effectively delivered.

With regard to price making and/or taking involving third parties, the Company believes this does not apply, given that it involves a contractual amendment in which the commercial conditions of sales volume and reference price were not changed in relation to the original agreement.