4Q08 4Q08 EarningsEarnings

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ForwardForward--looking Statementslooking Statements

This presentation contains forward-looking statements. These statements do not

represent historical fact, but rather reflect the beliefs and expectations of

Braskem’s management. The words “anticipate”, “wish”, “expect”, “estimate”,

“intend”, “forecast”, “plan”, “predict”, “project”, “target” and similar words

are intended to identify these statements. Although Braskem believes that the

expectations and assumptions reflected in these forward-looking statements are

reasonable and based on information currently available to management,

Braskem cannot guarantee future results or events.

The forward-looking statements in this presentation are valid only on the date

they are made (December 31, 2008) and the Company does not assume any

obligation to update them in light of new information or future developments.

Braskem is not responsible for any transaction or investment decision taken

based on the information in this presentation.

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• Unprecedent financial crisis

• High volatility in the exchange rate, raw materials and resins prices

Market:

� Drop-off in international thermoplastic resin demand

� Destocking in the petrochemical chain due to credit restriction

� Impact in Brazil concentrated in agriculture and durable goods in 4Q08

� Brazil's thermoplastic resin market contracted by 16% in 4Q08

Operating Performance:

� Reduction in the plants capacity utilization rates starting in November

� Net revenue of R$ 4.1 billion in 4Q08, 18% lower than in 3Q08

� EBITDA of R$ 633 million with an EBITDA margin of 15.4%, positively impacted by

the effects from the adjustments introduced by law 11,638/07 in the amount of R$

74 million, not related to the period

4Q08 Highlights4Q08 Highlights

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Real Depreciation:

� R$1.9 billion accounting impact on net liabilities pegged to the US dollar

� Increase in the producers competitiveness

� Reduction of resin imports in December

Strategic Actions:

� Approval for the construction of the green PE plant and obtainment of the

environmental license to build the facility. Agreement with Toyota Tsusho to sell

Green PE in Asia.

� Focusing on the cash position

4Q08 Highlights4Q08 Highlights

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Destocking trend in the petrochemical chain Destocking trend in the petrochemical chain

limits growth in domestic market to 3% in 2008limits growth in domestic market to 3% in 2008

+7%+ 7%

+2%

- 3%

+3%

PVCPPBraskem ResinsPE

Domestic Sales 2008 x 2007Domestic Sales 2008 x 2007 %%

Others

Imports

Resin Market Share 2008Resin Market Share 2008

51%*51%*

23%

26%

Brazilian Market*

*Domestic Sale + Imports

Source: Braskem / Abiquim

* Braskem market share includes sales of PVC imported by the Company

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683

3Q08 4Q08Raw Materials

Fixed Costs/ Others

Volume

538

633

1,487

(949)

(174)

EBITDA Lower resins prices and reduced volumes overcome the positive FX impact on revenues

EBITDA EBITDA Lower resins prices and reduced volumes overcome Lower resins prices and reduced volumes overcome the positive FX impact on revenues the positive FX impact on revenues

(848)

Price

426 9

R$ million

Exchange Rate

Source: Braskem

FX impact

on revenue

FX impact

on costs

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Financial Results reflect FX Financial Results reflect FX

variationvariation

R$ millionR$ million 4Q084Q08 3Q083Q08 4Q074Q07 20082008 20072007

Financial Result (2,275) (1,616) (137) (3,685) (367)

Expenses (2,731) (1,923) 329 (4,403) 211

Income 456 308 (466) 719 (578)

FX Variation (1,872) (1,351) 146 (2,629) 798

Loss (2,290) (1,618) 675 (3,173) 1,607

Gain 418 267 (528) 544 (809)

FX Rate - EOP 2.34 1.91 1.77 2.34 1.77

FX Variation 22.1% 20.3% -3.7% 31.9% -17.2%

Source: Braskem

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2016 /2017

Source: Braskem

ShortShort--term debt well managed and longterm debt well managed and long--

term debt well distributed with an term debt well distributed with an

average term of 11 yearsaverage term of 11 years

R$ million (12/31/08)

12/31/08

2,960

In US$

In R$

Cash and Equivalents

2009 2010 2011 2013 2014 /2015

2018 /2019

2020 onwards

8%8%

11%11%12%12%

6%6%

13%13%

10%10%11%11%

18%18%

1,4081,408

9429421,3681,368 1,4021,402 1,3451,345

713713

1,6421,642

1,1691,169

1,9011,901

1,0591,059

2.89

Sep08 Dec08

3.06

- 6%

Gross Debt: 11,986Gross Debt: 11,986

Net Debt: 9,028Net Debt: 9,028

Average Term: 10.9 yearsAverage Term: 10.9 years

74% of the debt are pegged to the USD74% of the debt are pegged to the USD

Net Debt / Net Debt / EbitdaEbitda (x) US$(x) US$

2012

11%11%

1,2591,259

3.73

Sep08 Dec08

3.42

9%

Net Debt / Ebitda (x) R$Net Debt / Ebitda (x) R$

738738

Value related to the loan granted by a Petrobras subsidiary for the delisting of Copesul, due in October 2009

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Net Debt

Dec07

InterestPPSA

ConsolidationEbitda

Net debt increases by US$500 million on investments of US$1.3 billionNet debt increases by US$500 million on Net debt increases by US$500 million on investments of US$1.3 billioninvestments of US$1.3 billion

Dividends

US$ million

Investmentsdisbursements

Source: Braskem

Net Debt

Dec08

Working Capital

FX / MV

3,350 1,297

(1,325)

337355175

3,864

(271)(54)

2,230

Net Debt

Dec08

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Focus on priority investment projects Focus on priority investment projects

R$ million

Capacity increases /Petroquímica Paulínia

HSE

Technology

Equipment Replacement

Productivity

Quality / Others

Information System

Maintenance

Quality / Others

Information System

HSE

Technology

Productivity

Maintenance

Capacity increases / Green PE

Equipment Replacement161

238

2,279

2008

45

195

91

202

407

55

885Investments in Equity Stake (Ipiranga Group/Politeno)

203

213

909

2009

37

172

1474

182

14

Source: Braskem

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ShortShort--term prioritiesterm priorities

� Focus on financial strength and liquidity

� Acceleration of the capture of synergies from the IPQ/CPS

acquisition

� Focus on maintaining operational profitability

� Recovery of plants capacity utilization rates

� Naphtha: conclusion of the new contract with Petrobras

� Green PE Project: construction in progress

� Assessment of growth opportunities during the crisis

Greater operational and financial strengthGreater operational and financial strength

4Q08 4Q08 EarningsEarnings

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