Braskem Netherlands Finance B.V. announces expiration and final results of cash tender offer for any and all of its outstanding Subordinated Resettable Fixed Rate Notes due 2081

SÃO PAULO, Nov. 5, 2024 /PRNewswire/ -- Braskem Netherlands Finance B.V. ("Braskem Netherlands Finance" or the "Offeror") today announces the expiration and final results as of 5:00 p.m., New York City time, on November 5, 2024 (the "Expiration Date") of its previously announced offer to purchase for cash any and all of the outstanding Subordinated Resettable Fixed Rate Notes due 2081 (the "Notes") issued by Braskem Netherlands Finance (the "Offer"). The Offer was made upon the terms and subject to the conditions set forth in the previously announced offer to purchase dated October 7, 2024 (the "Offer to Purchase"). On October 21, 2024, the Offeror announced the early results of the Offer.

The Offeror has been advised by the information and tender agent that, as of the Expiration Date, the amount of Notes set forth in the table below were validly tendered and not validly withdrawn after 5:00 p.m., New York City time, on October 21, 2024 (the "Early Tender Date"), but at or prior to the Expiration Date. As set forth in the table below, the Notes validly tendered and not validly withdrawn after the Early Tender Date, but at or prior to the Expiration Date, will be accepted for purchase.

The following table summarizes the final results of the Offer.

Holders who validly tendered and did not validly withdraw their Notes after the Early Tender Date, but at or prior to the Expiration Date, in the manner described in the previously announced Offer to Purchase, will be eligible to receive the Tender Offer Consideration, plus Accrued Interest.

The Tender Offer Consideration for each US$1,000 principal amount of Notes validly tendered and not validly withdrawn after the Early Tender Date, but at or prior to the Expiration Date, and accepted for purchase pursuant to the Offer will be US$966.25 (the "Tender Offer Consideration").

Holders whose Notes are accepted for payment as of the Expiration Date pursuant to the Offer will be paid accrued and unpaid interest on the Notes ("Accrued Interest") up to, but excluding, the Final Settlement Date. The Offeror will not pay Accrued Interest for any periods following the Final Settlement Date in respect of any Notes accepted in the Offer as of the Expiration Date. Accrued Interest on Notes accepted in the Offer as of the Expiration Date will cease to accrue on the Final Settlement Date. The Final Settlement Date will be November 6, 2024, or as promptly as practicable thereafter (the "Final Settlement Date").

The deadline for holders of Notes to validly withdraw tenders of Notes has passed. Accordingly, Notes may not be withdrawn or revoked, except as required by applicable law.

The Offeror has retained Citigroup Global Markets Inc., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Santander US Capital Markets LLC and SMBC Nikko Securities America, Inc. to serve as dealer managers and D.F. King & Co., Inc. to serve as information and tender agent for the Offer. The full details of the Offer are included in the previously announced Offer to Purchase. Holders of Notes are strongly encouraged to carefully read the previously announced Offer to Purchase, including materials incorporated by reference therein, because they contain important information. Requests for the previously announced Offer to Purchase and any related supplements may also be directed to D.F. King & Co., Inc. by telephone at +1 (212) 269-5550 or +1 (800) 207-3159 (US toll free) or in writing at [email protected].

Questions about the Offer may be directed to Citigroup Global Markets Inc. by telephone at +1 (800) 558-3745 (toll free) or +1 (212) 723-6106 (collect); Itau BBA USA Securities, Inc. by telephone at +1 (888) 770-4828 (toll free) or +1 (212) 710-6749 (collect); Morgan Stanley & Co. LLC by telephone at +1 (800) 624-1808 (toll free) or +1 (212) 761-1057 (collect); Santander US Capital Markets LLC by telephone at +1 (855) 404-3636 (toll free) or +1 (212) 940-1442 (collect), or by e-mail at [email protected]; and SMBC Nikko Securities America, Inc. by telephone at +1 (888) 284-9760 (toll free) or +1 (212) 224-5163 (collect).

This press release shall not constitute an offer to purchase or a solicitation of acceptance of the offer to purchase, which was made only pursuant to the terms and conditions contained in the previously announced Offer to Purchase. The Offer was not made to, nor will the Offeror accept tenders of Notes from, holders in any jurisdiction in which the Offer or the acceptance thereof would not be in compliance with the securities or blue sky laws of such jurisdiction. In any jurisdiction where the laws require the Offer to be made by a licensed broker or dealer, the Offer was made by the dealer managers on behalf of the Offeror.

None of the Offeror, the information and tender agent, the dealer managers or the trustee with respect to the Notes, nor any of their respective affiliates, made any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Notes in response to the Offer. None of the Offeror, the information and tender agent, the dealer managers or the trustee with respect to the Notes, nor any of their respective affiliates, has authorized any person to give any information or to make any representation in connection with the Offer other than the information and representations contained in the previously announced Offer to Purchase.

Neither the U.S. Securities and Exchange Commission, any U.S. state securities commission nor any regulatory authority of any other country has approved or disapproved of the Offer, passed upon the merits or fairness of the Offer or passed upon the adequacy or accuracy of the disclosure in the previously announced Offer to Purchase.

About Braskem Netherlands Finance

Braskem Netherlands Finance, a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, is a wholly-owned subsidiary of Braskem Netherlands B.V. Braskem Netherlands Finance was established primarily to act as a finance subsidiary of Braskem S.A.

Forward-Looking Statements

Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which are subject to risks and uncertainties. Other than statements of historical fact, information regarding activities, events and developments that Braskem expects or anticipates will or may occur in the future are forward-looking statements based on management's estimates, assumptions and projections. Many forward-looking statements may be identified by the use of words such as "expect," "anticipate," "intend," "plan," "believe, "estimate" and similar expressions. Forward-looking statements contained in this press release are predictions only and actual results could differ materially from management's expectations due to a variety of factors, including those described the sections titled "Risk Factors" in Braskem's annual report on Form 20-F for the year ended December 31, 2023 and Braskem's report on Form 6-K including certain information regarding Braskem and, without limitation, Braskem's Management's Discussion and Analysis of Financial Condition and Results of Operations for the six-month periods ended June 30, 2024 and 2023, furnished to the SEC on October 7, 2024. All forward-looking statements attributable to Braskem or the Offeror are expressly qualified in their entirety by such risk factors. The forward-looking statements that the Offeror makes in this press release are based on management's current views and assumptions regarding future events and speak only as of their dates. The Offeror assumes no obligation to update developments of these risk factors or to announce publicly any revisions to any of the forward-looking statements that the Offeror makes, or to make corrections to reflect future events or developments, except as required by the U.S. federal securities laws.

DISCLAIMER

This press release must be read in conjunction with the previously announced Offer to Purchase. This announcement and the previously announced Offer to Purchase contain important information which must be read carefully before any decision is made with respect to the Offer. If any holder of Notes is in any doubt as to the action it should take, it is recommended to seek its own legal, tax, accounting and financial advice, including as to any tax consequences, immediately from its stockbroker, bank manager, attorney, accountant or other independent financial or legal adviser. None of the Offeror, the dealer managers, the information and tender agent and any person who controls, or is a director, officer, employee or agent of such persons, or any affiliate of such persons, made any recommendation as to whether holders of Notes should participate in the Offer.

SOURCE Braskem Netherlands Finance B.V.