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Presentation to
   Investors


  Bernardo Gradin
     Presidente
Disclaimer

This presentation contains forward-looking statements. These forward-looking
statements are not historical data, but rather reflect the targets and
expectations of Braskem’s management. The terms “anticipate,” “believe,”
“expect,” “foresee” “intend,” “plan,” “estimate,” “project,” “aim” and similar
terms are used to indicate forward-looking statements. Although we believe
these forward-looking statements are based on reasonable assumptions, they are
subject to various risks and uncertainties and were prepared using the
information currently available to Braskem.

This presentation was updated on March 31, 2010, and Braskem does not assume
any responsibility for updating it in light of new information and/or events.

Braskem is not liable for any investment decisions taken based on the
information contained in this presentation.


                                                                                 2
Agenda


         Braskem
            A global player
            Acquisitions: opportunities and challenges
            Project pipeline: growth with value accretion
            Braskem consolidated


         The petrochemical industry



         Final considerations




                                                            3
Agenda


         Braskem
            A global player
            Acquisitions: opportunities and challenges
            Project pipeline: growth with value accretion
            Braskem consolidated


         The petrochemical industry



         Final considerations




                                                            4
A leading Brazilian company going global

    2010 – a milestone in Braskem’s history: becoming a world-class player and
      advancing its strategy to become one of the world’s five largest global
              petrochemical companies in terms of enterprise value
 Acquisition of Quattor and Sunoco                  Solid ownership structure

  Creation of a global player;                       Firmly committed shareholders;
  Diversification of raw materials;                  Injection of R$3.5 billion by Odebrecht and
  Foothold in the U.S. market: one of the largest    Petrobras as an acquisition pre-condition;
  consumer markets for thermoplastic resins;         BNDES maintained its interest by contributing
  Value accretion through synergies.                 R$240 million in capital;
                                                     Braskem is the priority vehicle for
                                                     petrochemical investments in Brazil;
 Competitive projects
                                                     Professional management;
  Leader in all new sources of competitive raw       Maintenance of Governance standards.
  materials in Latin America, comparable to the
  conditions in Middle East;
                                                    Financial solidity
  Geographic and raw material diversification;
  Protection of the Brazilian market;                Solid operating results;
  Development of high value added products           Strategic debt profile;
  (green polyethylene).                              Prepared for opportunities arising from a
                                                     potential downcycle of the petrochemical
                                                     industry.                                       5
Track record of success with clear
 objectives
                                                                                                                                    6,460
                  Resins Capacity (kton/y)
                                                                                                      3,595
                           Acquisitions                     2,341                                                                   4,275
                                                                                                      1,410
                           Organic Growth                    520
                                                            1,821                                     2,185                         2,185
                                                                                                                      Leader in the
                                                                           54% capacity          80% capacity
                                                                             increase
                                                                                                                       Americas
                                                                                                   increase
                                                      Leader in Latin
                                                         America
                                                                                                                           Acquisitions
                                                                                                 Petroquímica               Quattor +                  2020
                                                                         Ipiranga, Copesul          Triunfo                  Sunoco
                                                                            and Paulínia
                                                          Politeno
                                             Polialden                                                                             2010
                                 Trikem                                                                2009
                    OPP                                                                   2008
                                                            2006          2007
                                               2005
                                   2004
                    2003
         2002
                                                               2006
                                                                                                                                            To be one of the world’s
                                                                                                                                              top 5 petrochemical




                                                                                                                capital increase
                                                                                                                After R$3.74 bi
                                                                                                                                            companies in terms of
                                                                                                                                               enterprise value

     Become leader in
    thermoplastic resins
                                                                      FX devaluation
      in Latin America                                                 2008 Crisis
                                                            2.72x                      3.73x         2.67x                         3.46x                3.12x
                                                                                                                                               1Q10



Source: Braskem
                                                                               Net Debt/EBITDA (R$)                                                                    6
Consistent growth
EBITDA (R$ million)
                             23.1%

                                             18.0%       16.9%                                    Nominal Capacity (kton)
                    19.3%                                                               14.7%
          19.1%                                                                14.4%
                                                                                                       Resins
                                                     14.1%          13.5%                              Ethylene

                                     CAGR: 13%                                                                  CAGR: 19%
                                                                                        3,496                                                        10,212
                                                               3,177            3,150
                             2,549                                     2,418
                                         2,090                                                                                               5,921
                    1,777                                                                                                            5,551
                                                     1,661
           1,335                                                                                 2,965 3,045 3,145 3,190 3,621




          2002     2003     2004       2005      2006        2007      2008    2009     LTM     2002   2003     2004   2005   2006   2007    2008    2009
                                                                                        2010
EV        8.4      11.2     15.3       9.9       10.1        13.4      11.9    13.1     19.7
(R$ bi)

EV/ 6.3x           6.3x     6.0x      4.7x       6.1x        4.2x      4.9x    4.2x     5.6x

EBITDA
                  Supported by higher production, market leadership, successful sales policies and industry
                                                      consolidation
Source: Braskem               1   Pro-forma figures for 2009: Braskem + Quattor + Sunoco                                                                      7
Consistent growth
EBITDA (US$ million)
                              23.1%

                                                18.0%             16.9%                                        Nominal Capacity (kton)
                     19.3%                                                                        14.7%
           19.1%                                                                        14.4%
                                                                                                                    Resins
                                                        14.1%             13.5%                                     Ethylene

                                         CAGR: 19%                                                                           CAGR: 19%
                                                                                                     1,846                                                        10,212
                                                                     1,626                1,580
                                                                                1,337
                                                                                                                                                          5,921
                                                                                                                                                  5,551
                                   871          851         764
                      581                                                                                     2,965 3,045 3,145 3,190 3,621
             457




       2002        2003      2004         2005        2006         2007      2008       2009      LTM        2002   2003     2004   2005   2006   2007    2008    2009
                                                                                                  2010
EV         2.4      3.9      5.8          4.2         4.7         7.6        5.1        7.5     11.0

(US$ bi)

EV/ 5.2x           6.7x      6.6x        5.0x         6.2x        4.6x       3.8x       4.8x      5.9x

EBITDA
                   Supported by higher production, market leadership, successful sales policies and industry
                                                       consolidation
Source: Braskem                1   Pro-forma figures for 2009: Braskem + Quattor + Sunoco                                                                                  8
Strong cash generation and competitive
 margins

  Key Financial                         1Q10           4Q09         1Q09            %         %
  Indicators (R$ ‘000)*                  (A)            (B)          (C)         (A)/(B)   (A)/(C)
                                                                                                     Braskem positions itself as a
  Sales Revenue                        6,245          5,960         4,307             5      45      consolidator of the global
                                                                                                     petrochemical industry
  EBITDA                                 903            751          545              20     66
                                                                                                       Opportunistic acquisitions during
                                                                                  1.9       1.8        the economic crisis
  EBITDA Margin                        14.5%          12.6%         12.6%
                                                                                  p.p.      p.p.
                                                                                                     Strong cash flow

                                                                                                     Disciplined in reducing fixed costs
                                                EBITDA
       COMPANY                                                                                       Renegotiation of raw material
                                              Margin 1Q10
                                                                                                     agreements since March 2009
       SABIC                                       34,9%
                                                                                                     Growing productivity gains and
       MEXICHEM                                    21,5%                    Potential for margin
                                                                            gains through good       operational excellence – already in
       RELIANCE                                    15,2%                    operating practices.     the 1st quartile worldwide
                                                                            Braskem pre-
       BRASKEM                                     14,5%                                             Notable improvement in HSE
                                                                            acquisitions:16.3%
       FORMOSA                                     13,9%                                             results since 2002
       WESTLAKE                                    10,3%                                               Green polyethylene helping to
       DOW                                         10,1%
                                                                                                       reduce effects from GHGs

       GEORGIA GULF                                 6,6%


Source: Braskem, Bloomberg   Pro-forma figures for 2009: Braskem + Quattor + Sunoco                                                        9
Quattor acquisition
                                                                                                            Opportunities




                                                    Bahia
                                                                         PP HOMO/COPO (1979)
                                                                         Capacity: 115 kty                    Asset concentration in Southeast
                                                                         Technology: Slurry Shell             (~70% Brazilian resin consumption);
                                                                                                              Optimization of logistics distribution
                                                                                                              related to reduction in external
                                                                                                              storage;
                                             Camaçari
                                                                           Cracker (2005)                     Diversified RM matrix – balance
                                                                            Capacity: 520 kty ethylene        between naphtha-natural gas;

                                                        Rio de Janeiro
                                                                           Technology: ABB Lummus –
                                                                           ethane/propane                     Joint administration of raw material
                                     Mauá Duque de
                                                                           HDPE/LLDPE (2005)                  agreements;
                                   Paulínia Caxias                         Capacity: 540 kty
                                                                           Technology: Gas phase - Unipol     Renegotiation of service and insurance
                                                                           PP HOMO/COPO (1992)                contracts;
                                 Triunfo
            Cracker (1972)
                                                                           Capacity: 310 kty                  Unification of production and
                                                                           Technology: Bulk – Lipp
            Capacity: 700 kty ethylene*                                                                       maintenance practices;
            Technology: ABB Lummus
            (naphtha)                                                                                         Unification of Technology and
            LDPE/ EVA (1972)                                                                                  Innovation centers;
            Capacity: 120 kty
                                                                                                              Reduction of working capital costs;
Sao Paulo




            Technology: HP Autoclave
            HDPE/ LDPE (2008)                                                                                 Tax and logistical synergies;
            Capacity: 240 kty
            Technology: Slurry – Chevron Phillips
                                                                                                              Organizational restructuring.
            LDPE (1965)
            Capacity: 140 kty
            Technology: Tubular                                                                             Challenges
            PP HOMO/COPO (2003)                                                                               Stability of raw material supplies;
            Capacity: 450 kty
            Technology: Spheripol                                                                             Integration of cultures.
    *200 kta expansion effectively coming online in 2010                                                                                               10
Quattor - key indicators

   Operational Indicators
      Operating rate (%)                    2009     1Q10
      Ethylene                              68%(1)   74%(1)   SIMULATION 1Q10*

      PE                                    61%      67%                     Utilization rate: 90%

   Financial Indicators
      R$ million                            2009     1Q10
      Net Revenue                           4,772    1,233    SIMULATION 1Q10*

      EBITDA                                 534      109                    EBITDA: R$193


                                                                       Outlook as of 2Q10
        Main impact on operational profit in 1Q10
                                                                        Supply from Mauá complex
          Limited operating rate
                                                                        normalized in May 2010;
                                                                        Petrobras’ commitment to
*Assumptions                                                            normalize supply to enable
   Higher production = higher sales                                     Riopol to operate at full
   Average price 1Q10                                                   capacity by August 2010.
   Excludes synergies
  (1) Considering   the 200 kty expansion                                                            11
Corporate Governance post acquisition

  Odebrecht as the controlling shareholder, with all results fully consolidated,
  reinforcing Braskem’s condition as a publicly traded private company;
  Braskem executives entrusted with the Company’s management and business plan,
  approved by a simple majority of the Board of Directors;
  Sharing of strategic decisions, with consensus approval by Board of Directors, including
  for:
   –   divestments greater than 10% of long-term assets
   –   acquisitions greater than 30% of long-term assets
  Investment decisions based on objective criteria for returns and profitability, such as
  project IRR and NPV.
  Clear financial policy that stipulates the strict conditions, with derivatives used solely
  for hedging;
  Being the sole vehicle for petrochemicals investments gives Braskem the right to:
   -   Act as the leader for all investments identified by Petrobras that are of interest to
       Braskem;
   -   If not interested, the right to sell the products.



                                                                                               12
Braskem America (former Sunoco)

                                                                                                Opportunities
                                                                                                  Global-scale, state-of-the-art assets –
                                                                                                  technology and age similar to Brazil’s
                                                            R&T Center                            polypropylene (PP) assets;
                                                                Pittsburgh,                       Development of a global production
                                                                        PA
                                                                                                  base;
                                                                                                  Consolidation of industrial assets;
                                                                                                  Competitive costs for some 70% of raw
                                                                                                  materials;
                                                     Neal, WV                 Marcus Hook, PA
                                                          1 PP                        1 PP        Platform for greenfield projects in
                                                                                                  Latin America.


                                                                                                Challenges
                                            La Porte, TX
                                                 1 PP                                             Knowledge of North American
                                                                                                  distribution market;
    Financial Indicators                                                                          Add value to supplier ⇔ client chain
       R$ million                            2009                   1Q10                          (substitute distributor);
                                                                                                  Highly disperse market;
       Net Revenue                           1,866                    547
                                                                                                  Resumption in demand vs.
       EBITDA                                 140                     65*                         uncertainty of economic recovery.


* R$18 million non-recurring positive impact from inventory adjustments.                                                                    13
Agenda


         Braskem
            A global player
            Acquisitions: opportunities and challenges
            Project pipeline: growth with value accretion
            Braskem consolidated


         The petrochemical industry



         Final considerations




                                                            14
Expansion with increased
 competitiveness
                                                    BRAZIL

                  Green Ethylene
  Operational start-up: 3Q10
     Physical progress – 75%
     Costs in line with budget
     Expected NPV ~US$180 million




                  PVC Expansion
  Operational start-up : 1st half 2012
     Expansion of 200 kty in PVC capacity                    New Projects
     Investments of US$470 million
                                                             Industrial Assets
     Expected NPV ~US$450 million
                                                             Projects with Petrobras
     Support for Brazil’s infrastructure projects




Source: Braskem                                                                        15
Expansion with increased
 competitiveness
                                       LATIN AMERICA

          Mexico: Ethylene XXI Project
  Operational start-up: early 2015
     Partnership between Braskem (65%) and the
     Mexican group IDESA (35%) for the purchase of
     ethane from PEMEX
     Integrated project: 1 Mty of ethane and 1 Mty of
     PE
     Investment estimated at up to US$2.5 billion
     over 5 years



     Venezuela: JV’s with Pequiven with
         Project Finance structure                      New Projects
  Propilsur                                             Industrial Assets
  Operational start-up: 2013
                                                        Projects with Petrobras
     300 kty PP in Paranaguá complex
     Investment estimated at US$500 million



Source: Braskem                                                                   16
Consolidated project pipeline




                                                                             PeruProj.
                                                                             (+ 600 to 1,000 kty ethylene/PE)
                                                 Ethylene XXI - Mexico       Polimerica – Venezuela
                                                 (+ 1,000 kty ethylene       (+ 1,300 kty ethylene and
                                                 and + 1,000 kta PE)         + 1,000 kty PE)
             Green PE                            Propilsur – Venezuela       Suape
             (+ 200 kty ethylene)                (+ 300 kty PP)              Comperj
             PVC Expansion
             (+ 200 kty)




                  2010 - 2012                      2013 - 2015              Projects under evaluation


                             Resin Capacity CAGR for 2010-2015: +4.3%
                             Diversification of raw materials and world-class assets
                             Fiscal discipline
                             Excellent track record of projects execution
Source: Braskem                                                                                                 17
Investments in 2010 total R$1.6 bi


     2010 Estimated Investments
                   In millions of R$


                  1,617
                           Green PE
                  254
                           Mexico
                  72       Venezuela
                  35
                  52       PVC Alagoas
                                               BRASKEM

                  462      Operational



                           Maintenance                   New Projects
                  317
                                                         Industrial Assets
                           BRASKEM AMERICA
                  56
                           QUATTOR                       Projects with Petrobras
                  360
                           QUANTIQ / VARIENT
                  10


Source: Braskem                                                                    18
Agenda


         Braskem
            A global player
            Acquisitions: opportunities and challenges
            Project pipeline: growth with value accretion
            Braskem consolidated


         The petrochemical industry



         Final considerations




                                                            19
Braskem consolidated
  Financial Indicators:
                                   2009                     LTM Mar/10
 R$ billion                 Braskem B + Q + S           Braskem B + Q + S     Potential for margin gains
                                                                                Stabilization in raw material
 Net Revenue                  15.2           21.9          16.5      23.8       supplies;

 EBITDA                        2.5            3.1           2.7       3.5       Margin equalization Braskem
                                                                                (16%) vs. Quattor (9%);
 Net Debt/EBITDA              2.67x         3.46x         2.37x      3.12x      Substitution of 1Q09 by 1Q10

 # Plants:                      17            29            17        29


                                                            80% Capacity
                                                                              6,460
                                                              Increase
                                                                               510


                                                                      3,595    1,965
                                                                       510                  PVC
       Industrial Assets
                                                                                            PP
                                                                      1,090
                                                                                            PE

                                                                               3,035
                                                                      1,995
Listed on three stock exchanges: BM&FBovespa, NYSE and Latibex
Source: Braskem                                                                                                 20
Braskem’s consolidated debt profile after
 debt restructuring
                                                                                                    Funding
    R$ million (03/31/2010)       Quattor + Sunoco             R$ million (03/31/10)                                      R$ million (03/31/10)
                                                                                                 operations in
                                    Acquisition                                                  April and May
   Gross Debt: 9,810                                   Gross Debt: 17,176                             and
                                                                                                                      Gross Debt: 14,066
   Net Debt:    6,500                                  Net Debt:    10,909                        scheduled           Net Debt:    10,909
                                                                                                   payments
   Average Term: 9.7 years             R$3.74 bi       Average Term: 6.6 years                                        Average Term: 8.2 years
   Net Debt/EBITDA: 2.37x               capital        Net Debt/EBITDA: 3.12x                                         Net Debt/EBITDA: 3.12x
                                       increase
    65% of debt pegged to USD                           44% of debt pegged to USD                                  59% of debt pegged to USD

                                                                           Braskem Cash:                    +   3,311
                                                                           Quattor Cash:                    +   542
                                                                           Capital Increase:                +   3,742
                                                                            (-) UNIPAR Payment              -   (700)
                                                                            (-) SUNOCO Payment              -   (630)
                                                                           Bond Issuance (US$400 mi) +          712
                                                                           SUNOCO, EPP and NCA fin. +           694
    3,157                                                                  Debt Prepayment:                 -   (4,514)
                                            2,371                          Cash                             =   3,157
                         2,078
                                 1,674                1,735
              1,178      622                 804                   1,222
    3,157                                                                                                  1,142                  989
                                 614                   478
                  478                                                                          607                                         623
                         1,456              1,416                   389           289                      1,118        157
                  700            1,060                1,057
                                                                    491                        511                                267      623
                                                                                  101
                  2010   2011    2012        2013      2014         2015          2016         2017        2018         2019      2020     2020
                                                                                                                                          onwards

                                           Braskem   Quattor    New debt    Cash    Net capital increase
Source: Braskem                                                                                                                                     21
Braskem: Ratings confirmed after
  acquisition
    RATING                         Post-Acquisitions
                                                                                         Upgrade Conditions:
                                                                                         ‣    Maintenance of high liquidity (cash or equivalents -
                                                           +                                  stand-by) above R$3 billion. Cash above R$3 billion since
  Ba3 BBB-                                                                                    Dec/2008.
                                                       -           Investment Grade
                      Jan/09          May/09               +
                                                                                         ‣    Capitalization of Braskem as pre-condition            for
  Ba1 BB+                                                                                     acquisition. Shareholder movements;
                                                       stable
                                Mar/09                  -
                                               Jan&Feb/10                                ‣    Successful integration with capture of synergies and
                                                                                              increase in cash generation;
  Ba2   BB        The acquisitions:                                                      ‣    Decrease in Net Debt/EBITDA ratio to 2.5x. In first post-
                  ‣    Strengthened strategic positioning;                                    acquisition quarter we already reduced this ratio from
                                                                                              3.46x to 3.12x
  Ba3 BB-         ‣    Increased # of plants, sites and geographic diversification;
                  ‣    Diversification of raw material mix;
                       More disciplined and less volatile domestic market ;
   B1   B+
                  ‣

                  ‣    High governance standards;
                  ‣    Petrobras participation.




                               2009            2010
                  Braskem Ratings (National Scale)                                      Braskem Ratings (Global Scale)
             Moody’s                                  Aa2.br / Stable Outlook         Moody’s            Ba1 / Stable Outlook


              Fitch                                    AA / Stable Outlook            Fitch               BB+ / Stable Outlook

              S&P                                      AA+ / Stable Outlook           S&P                BB+ / Stable Outlook

Source: Braskem                                                                                                                                           22
Raw material matrix
   Diversification to compete globally
   Raw Material Profile* (2009)                           Braskem Post-Acquisitions*                            Braskem Post-Projects*

                                        8%                                                                                  3%
           37%           30%
                                                                         13%           Implementation of
                                                                                        Project Pipeline**                           24%

           17%                                                                  18%
                                        92%
                         56%                                                                                          58%              15%
                                                                   69%
           46%

                         14%


    Quattor        Sunoco       Braskem                   More balanced and diversified supply of raw materials
      Liquid (2)      Refinery propylene        Gas (1)   Competitive natural gas price vs. international reference prices



   Propane                                                                Naphtha / Condensate
      USGC reference to competitive prices                                     ~70% of naphtha supplied by Petrobras with
                                                                               competitive price formula
   Natural Gas                                                                 30% direct imports from various international suppliers
      100% Petrobras supply with competitive prices versus
      international prices

   Ethanol


                                                                                      *Based on resin-production capacity. Sunoco buys propane directly
(1) Ethane, Propane and HLR; (2) Naphtha and condensate                               ** Considering the Mexico Project and Green PE                      23
Agenda


         Braskem
            A global player
            Acquisitions: opportunities and challenges
            Project pipeline: growth with value accretion
            Braskem consolidated


         The petrochemical industry



         Final considerations




                                                            24
Overview of the world petrochemical
 cycle
           Ethylene: projected utilization in 2010
                                                                                 What did we learn in 2009?
                                                                                   Plants with high operating costs were closed
60,000                                90                                 89        during the crisis
                            85                                84          86 *
50,000                     84         83
                 80
                                                   79         80                   Demand driven by emerging countries,
40,000           75                                74                              primarily China
30,000
                                                                                   Effective new capacity 50% below projections:
20,000
                                                                                   delays, learning curve, lack of skilled labor,
10,000
                                                                                   problems with raw material supply
     0
           Europe     N. America   Asia        M. East     World     Braskem
                                                                                 2010-2014 Outlook
                      Capacidade           Operating rate 2010 (%)                 Uncompetitive assets shall be permanently
                                           * Braskem:1Q10
                                           2009 operating rate (%)                 shuttled down
                                                                                   Restrictions on gas extraction linked to oil
    Kt
               Additional capacity and closures announced                          production (OPEC)
12,000
                                                            Estimated delay        ~3 million tons expected for 2010 should be
10,000
                                                                                   postponed: Iran (Morvarid and Illam) and Saudi
 8,000                                                                             Arabia (Sharq and Saudi – Al Jubail)
 6,000
                                                                                   Demand growth over 6 million ton/year should
 4,000                                                                             exceed additional supply in 2011
 2,000
                                                                                   Higher domestic consumption in emerging
     0                                                                             countries like Brazil, China and India
-2,000         2009      2010       2011          2012       2013       2014
                                                                                   Industry consolidation increasing players’
-4,000                                                                             competitiveness
                 MIDDLE EAST        ASIA                   OTHERS
                 NORTH AMERICA      W. EUROPE              May2009 Forecast                                                         25
Source: CMAI
Brazil’s macroeconomic outlook

                                                                Annual real GDP growth

  • Brazil’s economy is still relatively closed, with exports    7,0%                        6,1%
                                                                                                                        5,8%
    corresponding to 14% of GDP, distributed among               6,0%
                                                                                      4,7%                                                    4,6%
    various trade partners.                                      5,0%
                                                                        4,5%                                                   4,4%   4,4%
                                                                               3,5%
                                                                 4,0%                                                   5,2%
                                                                                                                               4,4%   4,3%    4,3%
  • Strong external solvency ratings and floating exchange       3,0%

    rate system curbed speculation against the BRL during        2,0%                                  1,3%

    the crisis.                                                  1,0%
                                                                                                                -0,2%
                                                                 0,0%

  • Brazil’s banking system is well capitalized and highly      -1,0%
                                                                        2004   2005   2006   2007      2008     2009    2010   2011   2012    2013
    regulated.
                                                                           Real GDP                 On April 2010               On December 2009


  • Household consumption corresponds to 61% of GDP,
    while government consumption corresponds to 20%.
    GDP is highly influenced by consumer behavior, which          Average monthly income (March 2002 = base 100)
    has been driven by growth in average income levels.
                                                                 180
  • Brazil is still an unleveraged economy, but with             160
    growing access to credit (the ratio of available credit
    to GDP is currently 45% and is expected to increase to       140
    49% in 2010), which ultimately spurs consumption.            120

                                                                 100

                                                                  80



                                                                                                     Average Income
                                                                                                    Rendimento Médio
Source: Santander                                                                                                                                    26
Brazil: Dynamic Market
  Still-low per-capita consumption



    Per-capita consumption of PE, PP and PVC (kg/person)
                                                                                                                                              63
                                                                                                                                              63
                                                                                                                                                    57
                                                                                                                                                   57



     Brazil:                                                                                                                                             41
                                                                                                                                                         41
                                                                      5.4%
                                                                      CAGR
                                                                                                                                                              28
                                                                                                                                                              28
                                                                                                                    21,9   22,7
                                                                                                                                  22,2
                                                                                                                                  22,2
                                                                                                             20,2
                                                                                                 18,7 18,0
                                                              16,6                 17,8   17,5
                                               15,4   16,2                16,1
                                        14,5
                         12,5    13,6
                  11,1
           9,6




         1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

                                                         PE          PP          PVC


Source: CMAI, IBGE, Abiquim, Braskem                                                                                                     * Compound annual growth rate   27
Consumer driven
 Braskem’s domestic sales breakdown in 2009




                                      HYGIENE AND CLEANING
                                                                      COSMETICS AND PHARMACEUTICALS
                                 CONSUMER GOODS               6%
                                                                   2%       AUTOMOTIVE
                                                    13%
                                                                     5%
                                     RETAIL
                                              5%
                                                                           17% CONSTRUCTION



                                                                           3%
                            FOOD PACKAGING                                         ELECTRIC AND ELECTRONIC
                                              30%
                                                                          6%    INDUSTRIAL
                                                                    4%
                                                                  4% INFRASTRUCTURE
                                                             4% 1%
                                                                     AGRIBUSINESS
                                                      OTHER
                                                                   CHEMCIALS AND AGROCHEMICALS




Source: Braskem / Abiquim                                                                                    28
Market development

                  Construction of light slabs using                           Parts for tractors, harvesters and
                  polypropylene spheres.                                      tools migrating to PE rotational
                                                                              molding.

BUBBLEDECK                                                  Agro-machinery



                                                                             Substitutes concrete wells for a
                  Project developed with Unipac and                          rotation-molded structure. Support from
                  Toyota-Tsusho. Flooring that allows                        CNO and partners Asperbras, Fortlev and
                  water permeability.                                        Brinquedos Bandeirante
CROSSWAVE
                                                          Manholes



                  Substitution of asbestos by PP                             Substitution of fiberglass tanks for
                  fibers with fiber-cement                                   volumes greater than 2,000 l.
                  reinforcement.

FIBER-CEMENT                                                Large Tanks



                  New washer molds, with PP cabinets                         Plastic silos for grain storage.
                  (replacing steel) in final validation                      Partnership with Suzuki.
                  stage.

                                                          Silo Bags
TRAVELING BLOCK
                                                                                                                    29
Agenda


         Braskem
            A global player
            Acquisitions: opportunities and challenges
            Project pipeline: growth with value accretion
            Braskem consolidated


         The petrochemical industry



         Final considerations




                                                            30
Why Braskem?
Pr/share
35                           BRKM5 Performance
30                                                                                       B+Q+S (R$ billion)          1Q10      Itaú   Multiple
25                                                                                                  EBITDA LTM        3.5      3.5      3.5
20                                                                                        Market Capitalization       8.8      11.9     13.6
15                                                                                   +                          EV 19.7        22.8     24.5
10                                                                                                    EV/EBITDA 5.6x           6.5x    7.0x*
 5                                                                                               Price per share 11.3          15.3     17.4
 0                                                                                            Proj. NPV to 2012                       > R$1 bi
  jan-02   jan-03   jan-04   jan-05   jan-06   jan-07     jan-08   jan-09   jan-10              Value added by                        > R$1.3 /
                                 R$                 US$                                  projects to share price                        share
                                                                                         * Peer Multiple. Source: Bloomberg.
     Largest thermoplastic resin producer in the Americas
     Leader of important projects in Latin America with
     competitive raw materials
     Emerging consumer market with potential per-capita growth                                         Huge potential for value creation
     as additional driver
                                                                                                            EBITDA increase
     Above-peer profitability
     Access to one of the world’s largest consumer markets                                                  EV/EBITDA multiple below
     following the U.S. acquisition                                                                         peers’ multiple (7-8x)
     Successful trajectory of organic growth and acquisitions
     Shareholders hold long-term view with strategic synergies
     for growth and value creation
     Leader in green chemicals                                                                                                                    31
Presentation to
   Investors

  Bernardo Gradin
     Presidente

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Presentation to investors itaú -

  • 1. Presentation to Investors Bernardo Gradin Presidente
  • 2. Disclaimer This presentation contains forward-looking statements. These forward-looking statements are not historical data, but rather reflect the targets and expectations of Braskem’s management. The terms “anticipate,” “believe,” “expect,” “foresee” “intend,” “plan,” “estimate,” “project,” “aim” and similar terms are used to indicate forward-looking statements. Although we believe these forward-looking statements are based on reasonable assumptions, they are subject to various risks and uncertainties and were prepared using the information currently available to Braskem. This presentation was updated on March 31, 2010, and Braskem does not assume any responsibility for updating it in light of new information and/or events. Braskem is not liable for any investment decisions taken based on the information contained in this presentation. 2
  • 3. Agenda Braskem A global player Acquisitions: opportunities and challenges Project pipeline: growth with value accretion Braskem consolidated The petrochemical industry Final considerations 3
  • 4. Agenda Braskem A global player Acquisitions: opportunities and challenges Project pipeline: growth with value accretion Braskem consolidated The petrochemical industry Final considerations 4
  • 5. A leading Brazilian company going global 2010 – a milestone in Braskem’s history: becoming a world-class player and advancing its strategy to become one of the world’s five largest global petrochemical companies in terms of enterprise value Acquisition of Quattor and Sunoco Solid ownership structure Creation of a global player; Firmly committed shareholders; Diversification of raw materials; Injection of R$3.5 billion by Odebrecht and Foothold in the U.S. market: one of the largest Petrobras as an acquisition pre-condition; consumer markets for thermoplastic resins; BNDES maintained its interest by contributing Value accretion through synergies. R$240 million in capital; Braskem is the priority vehicle for petrochemical investments in Brazil; Competitive projects Professional management; Leader in all new sources of competitive raw Maintenance of Governance standards. materials in Latin America, comparable to the conditions in Middle East; Financial solidity Geographic and raw material diversification; Protection of the Brazilian market; Solid operating results; Development of high value added products Strategic debt profile; (green polyethylene). Prepared for opportunities arising from a potential downcycle of the petrochemical industry. 5
  • 6. Track record of success with clear objectives 6,460 Resins Capacity (kton/y) 3,595 Acquisitions 2,341 4,275 1,410 Organic Growth 520 1,821 2,185 2,185 Leader in the 54% capacity 80% capacity increase Americas increase Leader in Latin America Acquisitions Petroquímica Quattor + 2020 Ipiranga, Copesul Triunfo Sunoco and Paulínia Politeno Polialden 2010 Trikem 2009 OPP 2008 2006 2007 2005 2004 2003 2002 2006 To be one of the world’s top 5 petrochemical capital increase After R$3.74 bi companies in terms of enterprise value Become leader in thermoplastic resins FX devaluation in Latin America 2008 Crisis 2.72x 3.73x 2.67x 3.46x 3.12x 1Q10 Source: Braskem Net Debt/EBITDA (R$) 6
  • 7. Consistent growth EBITDA (R$ million) 23.1% 18.0% 16.9% Nominal Capacity (kton) 19.3% 14.7% 19.1% 14.4% Resins 14.1% 13.5% Ethylene CAGR: 13% CAGR: 19% 3,496 10,212 3,177 3,150 2,549 2,418 2,090 5,921 1,777 5,551 1,661 1,335 2,965 3,045 3,145 3,190 3,621 2002 2003 2004 2005 2006 2007 2008 2009 LTM 2002 2003 2004 2005 2006 2007 2008 2009 2010 EV 8.4 11.2 15.3 9.9 10.1 13.4 11.9 13.1 19.7 (R$ bi) EV/ 6.3x 6.3x 6.0x 4.7x 6.1x 4.2x 4.9x 4.2x 5.6x EBITDA Supported by higher production, market leadership, successful sales policies and industry consolidation Source: Braskem 1 Pro-forma figures for 2009: Braskem + Quattor + Sunoco 7
  • 8. Consistent growth EBITDA (US$ million) 23.1% 18.0% 16.9% Nominal Capacity (kton) 19.3% 14.7% 19.1% 14.4% Resins 14.1% 13.5% Ethylene CAGR: 19% CAGR: 19% 1,846 10,212 1,626 1,580 1,337 5,921 5,551 871 851 764 581 2,965 3,045 3,145 3,190 3,621 457 2002 2003 2004 2005 2006 2007 2008 2009 LTM 2002 2003 2004 2005 2006 2007 2008 2009 2010 EV 2.4 3.9 5.8 4.2 4.7 7.6 5.1 7.5 11.0 (US$ bi) EV/ 5.2x 6.7x 6.6x 5.0x 6.2x 4.6x 3.8x 4.8x 5.9x EBITDA Supported by higher production, market leadership, successful sales policies and industry consolidation Source: Braskem 1 Pro-forma figures for 2009: Braskem + Quattor + Sunoco 8
  • 9. Strong cash generation and competitive margins Key Financial 1Q10 4Q09 1Q09 % % Indicators (R$ ‘000)* (A) (B) (C) (A)/(B) (A)/(C) Braskem positions itself as a Sales Revenue 6,245 5,960 4,307 5 45 consolidator of the global petrochemical industry EBITDA 903 751 545 20 66 Opportunistic acquisitions during 1.9 1.8 the economic crisis EBITDA Margin 14.5% 12.6% 12.6% p.p. p.p. Strong cash flow Disciplined in reducing fixed costs EBITDA COMPANY Renegotiation of raw material Margin 1Q10 agreements since March 2009 SABIC 34,9% Growing productivity gains and MEXICHEM 21,5% Potential for margin gains through good operational excellence – already in RELIANCE 15,2% operating practices. the 1st quartile worldwide Braskem pre- BRASKEM 14,5% Notable improvement in HSE acquisitions:16.3% FORMOSA 13,9% results since 2002 WESTLAKE 10,3% Green polyethylene helping to DOW 10,1% reduce effects from GHGs GEORGIA GULF 6,6% Source: Braskem, Bloomberg Pro-forma figures for 2009: Braskem + Quattor + Sunoco 9
  • 10. Quattor acquisition Opportunities Bahia PP HOMO/COPO (1979) Capacity: 115 kty Asset concentration in Southeast Technology: Slurry Shell (~70% Brazilian resin consumption); Optimization of logistics distribution related to reduction in external storage; Camaçari Cracker (2005) Diversified RM matrix – balance Capacity: 520 kty ethylene between naphtha-natural gas; Rio de Janeiro Technology: ABB Lummus – ethane/propane Joint administration of raw material Mauá Duque de HDPE/LLDPE (2005) agreements; Paulínia Caxias Capacity: 540 kty Technology: Gas phase - Unipol Renegotiation of service and insurance PP HOMO/COPO (1992) contracts; Triunfo Cracker (1972) Capacity: 310 kty Unification of production and Technology: Bulk – Lipp Capacity: 700 kty ethylene* maintenance practices; Technology: ABB Lummus (naphtha) Unification of Technology and LDPE/ EVA (1972) Innovation centers; Capacity: 120 kty Reduction of working capital costs; Sao Paulo Technology: HP Autoclave HDPE/ LDPE (2008) Tax and logistical synergies; Capacity: 240 kty Technology: Slurry – Chevron Phillips Organizational restructuring. LDPE (1965) Capacity: 140 kty Technology: Tubular Challenges PP HOMO/COPO (2003) Stability of raw material supplies; Capacity: 450 kty Technology: Spheripol Integration of cultures. *200 kta expansion effectively coming online in 2010 10
  • 11. Quattor - key indicators Operational Indicators Operating rate (%) 2009 1Q10 Ethylene 68%(1) 74%(1) SIMULATION 1Q10* PE 61% 67% Utilization rate: 90% Financial Indicators R$ million 2009 1Q10 Net Revenue 4,772 1,233 SIMULATION 1Q10* EBITDA 534 109 EBITDA: R$193 Outlook as of 2Q10 Main impact on operational profit in 1Q10 Supply from Mauá complex Limited operating rate normalized in May 2010; Petrobras’ commitment to *Assumptions normalize supply to enable Higher production = higher sales Riopol to operate at full Average price 1Q10 capacity by August 2010. Excludes synergies (1) Considering the 200 kty expansion 11
  • 12. Corporate Governance post acquisition Odebrecht as the controlling shareholder, with all results fully consolidated, reinforcing Braskem’s condition as a publicly traded private company; Braskem executives entrusted with the Company’s management and business plan, approved by a simple majority of the Board of Directors; Sharing of strategic decisions, with consensus approval by Board of Directors, including for: – divestments greater than 10% of long-term assets – acquisitions greater than 30% of long-term assets Investment decisions based on objective criteria for returns and profitability, such as project IRR and NPV. Clear financial policy that stipulates the strict conditions, with derivatives used solely for hedging; Being the sole vehicle for petrochemicals investments gives Braskem the right to: - Act as the leader for all investments identified by Petrobras that are of interest to Braskem; - If not interested, the right to sell the products. 12
  • 13. Braskem America (former Sunoco) Opportunities Global-scale, state-of-the-art assets – technology and age similar to Brazil’s R&T Center polypropylene (PP) assets; Pittsburgh, Development of a global production PA base; Consolidation of industrial assets; Competitive costs for some 70% of raw materials; Neal, WV Marcus Hook, PA 1 PP 1 PP Platform for greenfield projects in Latin America. Challenges La Porte, TX 1 PP Knowledge of North American distribution market; Financial Indicators Add value to supplier ⇔ client chain R$ million 2009 1Q10 (substitute distributor); Highly disperse market; Net Revenue 1,866 547 Resumption in demand vs. EBITDA 140 65* uncertainty of economic recovery. * R$18 million non-recurring positive impact from inventory adjustments. 13
  • 14. Agenda Braskem A global player Acquisitions: opportunities and challenges Project pipeline: growth with value accretion Braskem consolidated The petrochemical industry Final considerations 14
  • 15. Expansion with increased competitiveness BRAZIL Green Ethylene Operational start-up: 3Q10 Physical progress – 75% Costs in line with budget Expected NPV ~US$180 million PVC Expansion Operational start-up : 1st half 2012 Expansion of 200 kty in PVC capacity New Projects Investments of US$470 million Industrial Assets Expected NPV ~US$450 million Projects with Petrobras Support for Brazil’s infrastructure projects Source: Braskem 15
  • 16. Expansion with increased competitiveness LATIN AMERICA Mexico: Ethylene XXI Project Operational start-up: early 2015 Partnership between Braskem (65%) and the Mexican group IDESA (35%) for the purchase of ethane from PEMEX Integrated project: 1 Mty of ethane and 1 Mty of PE Investment estimated at up to US$2.5 billion over 5 years Venezuela: JV’s with Pequiven with Project Finance structure New Projects Propilsur Industrial Assets Operational start-up: 2013 Projects with Petrobras 300 kty PP in Paranaguá complex Investment estimated at US$500 million Source: Braskem 16
  • 17. Consolidated project pipeline PeruProj. (+ 600 to 1,000 kty ethylene/PE) Ethylene XXI - Mexico Polimerica – Venezuela (+ 1,000 kty ethylene (+ 1,300 kty ethylene and and + 1,000 kta PE) + 1,000 kty PE) Green PE Propilsur – Venezuela Suape (+ 200 kty ethylene) (+ 300 kty PP) Comperj PVC Expansion (+ 200 kty) 2010 - 2012 2013 - 2015 Projects under evaluation Resin Capacity CAGR for 2010-2015: +4.3% Diversification of raw materials and world-class assets Fiscal discipline Excellent track record of projects execution Source: Braskem 17
  • 18. Investments in 2010 total R$1.6 bi 2010 Estimated Investments In millions of R$ 1,617 Green PE 254 Mexico 72 Venezuela 35 52 PVC Alagoas BRASKEM 462 Operational Maintenance New Projects 317 Industrial Assets BRASKEM AMERICA 56 QUATTOR Projects with Petrobras 360 QUANTIQ / VARIENT 10 Source: Braskem 18
  • 19. Agenda Braskem A global player Acquisitions: opportunities and challenges Project pipeline: growth with value accretion Braskem consolidated The petrochemical industry Final considerations 19
  • 20. Braskem consolidated Financial Indicators: 2009 LTM Mar/10 R$ billion Braskem B + Q + S Braskem B + Q + S Potential for margin gains Stabilization in raw material Net Revenue 15.2 21.9 16.5 23.8 supplies; EBITDA 2.5 3.1 2.7 3.5 Margin equalization Braskem (16%) vs. Quattor (9%); Net Debt/EBITDA 2.67x 3.46x 2.37x 3.12x Substitution of 1Q09 by 1Q10 # Plants: 17 29 17 29 80% Capacity 6,460 Increase 510 3,595 1,965 510 PVC Industrial Assets PP 1,090 PE 3,035 1,995 Listed on three stock exchanges: BM&FBovespa, NYSE and Latibex Source: Braskem 20
  • 21. Braskem’s consolidated debt profile after debt restructuring Funding R$ million (03/31/2010) Quattor + Sunoco R$ million (03/31/10) R$ million (03/31/10) operations in Acquisition April and May Gross Debt: 9,810 Gross Debt: 17,176 and Gross Debt: 14,066 Net Debt: 6,500 Net Debt: 10,909 scheduled Net Debt: 10,909 payments Average Term: 9.7 years R$3.74 bi Average Term: 6.6 years Average Term: 8.2 years Net Debt/EBITDA: 2.37x capital Net Debt/EBITDA: 3.12x Net Debt/EBITDA: 3.12x increase 65% of debt pegged to USD 44% of debt pegged to USD 59% of debt pegged to USD Braskem Cash: + 3,311 Quattor Cash: + 542 Capital Increase: + 3,742 (-) UNIPAR Payment - (700) (-) SUNOCO Payment - (630) Bond Issuance (US$400 mi) + 712 SUNOCO, EPP and NCA fin. + 694 3,157 Debt Prepayment: - (4,514) 2,371 Cash = 3,157 2,078 1,674 1,735 1,178 622 804 1,222 3,157 1,142 989 614 478 478 607 623 1,456 1,416 389 289 1,118 157 700 1,060 1,057 491 511 267 623 101 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2020 onwards Braskem Quattor New debt Cash Net capital increase Source: Braskem 21
  • 22. Braskem: Ratings confirmed after acquisition RATING Post-Acquisitions Upgrade Conditions: ‣ Maintenance of high liquidity (cash or equivalents - + stand-by) above R$3 billion. Cash above R$3 billion since Ba3 BBB- Dec/2008. - Investment Grade Jan/09 May/09 + ‣ Capitalization of Braskem as pre-condition for Ba1 BB+ acquisition. Shareholder movements; stable Mar/09 - Jan&Feb/10 ‣ Successful integration with capture of synergies and increase in cash generation; Ba2 BB The acquisitions: ‣ Decrease in Net Debt/EBITDA ratio to 2.5x. In first post- ‣ Strengthened strategic positioning; acquisition quarter we already reduced this ratio from 3.46x to 3.12x Ba3 BB- ‣ Increased # of plants, sites and geographic diversification; ‣ Diversification of raw material mix; More disciplined and less volatile domestic market ; B1 B+ ‣ ‣ High governance standards; ‣ Petrobras participation. 2009 2010 Braskem Ratings (National Scale) Braskem Ratings (Global Scale) Moody’s Aa2.br / Stable Outlook Moody’s Ba1 / Stable Outlook Fitch AA / Stable Outlook Fitch BB+ / Stable Outlook S&P AA+ / Stable Outlook S&P BB+ / Stable Outlook Source: Braskem 22
  • 23. Raw material matrix Diversification to compete globally Raw Material Profile* (2009) Braskem Post-Acquisitions* Braskem Post-Projects* 8% 3% 37% 30% 13% Implementation of Project Pipeline** 24% 17% 18% 92% 56% 58% 15% 69% 46% 14% Quattor Sunoco Braskem More balanced and diversified supply of raw materials Liquid (2) Refinery propylene Gas (1) Competitive natural gas price vs. international reference prices Propane Naphtha / Condensate USGC reference to competitive prices ~70% of naphtha supplied by Petrobras with competitive price formula Natural Gas 30% direct imports from various international suppliers 100% Petrobras supply with competitive prices versus international prices Ethanol *Based on resin-production capacity. Sunoco buys propane directly (1) Ethane, Propane and HLR; (2) Naphtha and condensate ** Considering the Mexico Project and Green PE 23
  • 24. Agenda Braskem A global player Acquisitions: opportunities and challenges Project pipeline: growth with value accretion Braskem consolidated The petrochemical industry Final considerations 24
  • 25. Overview of the world petrochemical cycle Ethylene: projected utilization in 2010 What did we learn in 2009? Plants with high operating costs were closed 60,000 90 89 during the crisis 85 84 86 * 50,000 84 83 80 79 80 Demand driven by emerging countries, 40,000 75 74 primarily China 30,000 Effective new capacity 50% below projections: 20,000 delays, learning curve, lack of skilled labor, 10,000 problems with raw material supply 0 Europe N. America Asia M. East World Braskem 2010-2014 Outlook Capacidade Operating rate 2010 (%) Uncompetitive assets shall be permanently * Braskem:1Q10 2009 operating rate (%) shuttled down Restrictions on gas extraction linked to oil Kt Additional capacity and closures announced production (OPEC) 12,000 Estimated delay ~3 million tons expected for 2010 should be 10,000 postponed: Iran (Morvarid and Illam) and Saudi 8,000 Arabia (Sharq and Saudi – Al Jubail) 6,000 Demand growth over 6 million ton/year should 4,000 exceed additional supply in 2011 2,000 Higher domestic consumption in emerging 0 countries like Brazil, China and India -2,000 2009 2010 2011 2012 2013 2014 Industry consolidation increasing players’ -4,000 competitiveness MIDDLE EAST ASIA OTHERS NORTH AMERICA W. EUROPE May2009 Forecast 25 Source: CMAI
  • 26. Brazil’s macroeconomic outlook Annual real GDP growth • Brazil’s economy is still relatively closed, with exports 7,0% 6,1% 5,8% corresponding to 14% of GDP, distributed among 6,0% 4,7% 4,6% various trade partners. 5,0% 4,5% 4,4% 4,4% 3,5% 4,0% 5,2% 4,4% 4,3% 4,3% • Strong external solvency ratings and floating exchange 3,0% rate system curbed speculation against the BRL during 2,0% 1,3% the crisis. 1,0% -0,2% 0,0% • Brazil’s banking system is well capitalized and highly -1,0% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 regulated. Real GDP On April 2010 On December 2009 • Household consumption corresponds to 61% of GDP, while government consumption corresponds to 20%. GDP is highly influenced by consumer behavior, which Average monthly income (March 2002 = base 100) has been driven by growth in average income levels. 180 • Brazil is still an unleveraged economy, but with 160 growing access to credit (the ratio of available credit to GDP is currently 45% and is expected to increase to 140 49% in 2010), which ultimately spurs consumption. 120 100 80 Average Income Rendimento Médio Source: Santander 26
  • 27. Brazil: Dynamic Market Still-low per-capita consumption Per-capita consumption of PE, PP and PVC (kg/person) 63 63 57 57 Brazil: 41 41 5.4% CAGR 28 28 21,9 22,7 22,2 22,2 20,2 18,7 18,0 16,6 17,8 17,5 15,4 16,2 16,1 14,5 12,5 13,6 11,1 9,6 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 PE PP PVC Source: CMAI, IBGE, Abiquim, Braskem * Compound annual growth rate 27
  • 28. Consumer driven Braskem’s domestic sales breakdown in 2009 HYGIENE AND CLEANING COSMETICS AND PHARMACEUTICALS CONSUMER GOODS 6% 2% AUTOMOTIVE 13% 5% RETAIL 5% 17% CONSTRUCTION 3% FOOD PACKAGING ELECTRIC AND ELECTRONIC 30% 6% INDUSTRIAL 4% 4% INFRASTRUCTURE 4% 1% AGRIBUSINESS OTHER CHEMCIALS AND AGROCHEMICALS Source: Braskem / Abiquim 28
  • 29. Market development Construction of light slabs using Parts for tractors, harvesters and polypropylene spheres. tools migrating to PE rotational molding. BUBBLEDECK Agro-machinery Substitutes concrete wells for a Project developed with Unipac and rotation-molded structure. Support from Toyota-Tsusho. Flooring that allows CNO and partners Asperbras, Fortlev and water permeability. Brinquedos Bandeirante CROSSWAVE Manholes Substitution of asbestos by PP Substitution of fiberglass tanks for fibers with fiber-cement volumes greater than 2,000 l. reinforcement. FIBER-CEMENT Large Tanks New washer molds, with PP cabinets Plastic silos for grain storage. (replacing steel) in final validation Partnership with Suzuki. stage. Silo Bags TRAVELING BLOCK 29
  • 30. Agenda Braskem A global player Acquisitions: opportunities and challenges Project pipeline: growth with value accretion Braskem consolidated The petrochemical industry Final considerations 30
  • 31. Why Braskem? Pr/share 35 BRKM5 Performance 30 B+Q+S (R$ billion) 1Q10 Itaú Multiple 25 EBITDA LTM 3.5 3.5 3.5 20 Market Capitalization 8.8 11.9 13.6 15 + EV 19.7 22.8 24.5 10 EV/EBITDA 5.6x 6.5x 7.0x* 5 Price per share 11.3 15.3 17.4 0 Proj. NPV to 2012 > R$1 bi jan-02 jan-03 jan-04 jan-05 jan-06 jan-07 jan-08 jan-09 jan-10 Value added by > R$1.3 / R$ US$ projects to share price share * Peer Multiple. Source: Bloomberg. Largest thermoplastic resin producer in the Americas Leader of important projects in Latin America with competitive raw materials Emerging consumer market with potential per-capita growth Huge potential for value creation as additional driver EBITDA increase Above-peer profitability Access to one of the world’s largest consumer markets EV/EBITDA multiple below following the U.S. acquisition peers’ multiple (7-8x) Successful trajectory of organic growth and acquisitions Shareholders hold long-term view with strategic synergies for growth and value creation Leader in green chemicals 31
  • 32. Presentation to Investors Bernardo Gradin Presidente