SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of November, 2021

(Commission File No. 1-14862 )

BRASKEM S.A.

(Exact Name as Specified in its Charter)

N/A

(Translation of registrant's name into English)

Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ___X___       Form 40-F ______

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____

Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7). _____

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ______       No ___X___

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.

FORWARD-LOOKING STATEMENTS

This Earnings Release may contain forward-looking statements. These statements are not historical facts, but are based on the current view and estimates of the Company's management regarding future economic and other circumstances, industry conditions, financial performance and results, including any potential or projected impact from the geological event in Alagoas and related legal procedures and from COVID on the Company's business, financial condition and operating results. The words “project,” “believe,” “estimate,” “expect,” “plan” and other similar expressions, when referring to the Company, are used to identify forward-looking statements. Statements related to the possible outcome of legal and administrative proceedings, implementation of operational and financing strategies and investment plans, guidance on future operations, as well as factors or trends that affect the financial condition, liquidity or operating results of the Company are examples of forward-looking statements. Such statements reflect the current views of the Company's management and are subject to various risks and uncertainties, many of which are beyond the Company’s control. There is no guarantee that the events, trends or expected results will actually occur. The statements are based on various assumptions and factors, including general economic and market conditions, industry conditions and operating factors. Any change in these assumptions or factors, including the projected impact from the geological event in Alagoas and related legal procedures and the unprecedented impact from COVID on businesses, employees, service providers, shareholders, investors and other stakeholders of the Company could cause actual results to differ significantly from current expectations. For a comprehensive description of the risks and other factors that could impact any forward-looking statements in this document, especially the factors discussed in the sections, see the reports filed with the Brazilian Securities and Exchange Commission (CVM).

Braskem reports record-high free cash flow generation of approximately R$3.9 billion

12 p.p. increase in Brazil’s market share, due to the return of operations after the scheduled maintenance turnaround at the petrochemical complex in ABC, São Paulo

¹ Considers the period from 2011 to 2020.

² Based on net income (loss) attributable to the shareholders of the Company.

³ Does not consider the Company’s Accumulated Loss in December 2020 in the amount of R$4,530 million.

⁴ For the class “B” preferred shares, the amount is R$0.61 per share.

⁵ Considers the free cash flow generation of the last 12 months over the Company's market value in the quarter

⁶ Excludes the Project Finance in Mexico and based on recurring Operating Result.

ESG:

⁷ Year-to-date through October 29, 2021.

⁸ The industry average is 3.25 per million hours worked, according to the American Chemistry Council. The most recent data refers to 2018.

BRAZIL

UNITED STATES & EUROPE

MEXICO

⁹ In 3Q21, after applicable corporate approvals, including the final approval of Braskem Idesa shareholders and creditors, regarding the amendment to the ethane supply contract by Pemex, the ethane price formula was retroactively adjusted to the date of signature of the Memorandum of Understanding between Braskem Idesa and Pemex, resulting in a provision of US$27.6 million in the quarter. Although the accounting of this cost from previous months took place in 3Q21, for better comparability, we are diluting this impact between the quarters of 2021 on the Adjusted Recurring Operating Results, being US$2.2 million related to 1Q21, US$13.3 million related to 2Q21 and US$12.1 million related to 3Q21.

¹⁰ (US PE Price – naphtha ARA price)*82%+(US PE Price – 50% U.S. ethane price – 50% US propane price)*18%.

¹¹ PP Asia Price – Naphtha ARA price.

¹² The PVC Par spread better reflects the profitability of the Vinyls business, which is more profitable compared to the temporary/non-integrated business model of 2019/20, under which the Company imported EDC and caustic soda to keep serving its clients. Its calculation is PVC Asia Price + (0.685*US Caustic Soda/Chlor-Alkali) - (0.48*Europe Ethylene) - (1.014*Brent).

¹³ Average price of main base chemicals (Ethylene (20%), Butadiene (10%), Propylene (10%), Cumene (5%), Benzene (20%), Paraxylene (5%), Gasoline (25%) and Toluene (5%), according to Braskem’s sales volume) - Naphtha ARA price.

a) Resins demand in the Brazilian market (PE, PP and PVC): weaker compared to 2Q21 (-10%), mainly due to the normalization of demand in some sectors, such as construction, consumer goods and others, but remaining at healthy levels. Compared to the same quarter of last year, demand was weaker (-9%), which is basically explained by the stronger demand in 3Q20 following the recovery in resin consumption and the rebuilding of inventories in the production chain after the impacts from COVID in 2Q20.

b) Average utilization rate of petrochemical crackers: increase in relation to 2Q21 (+3 p.p.), due to the restarting of operations after the scheduled general maintenance turnaround at the petrochemical complex in ABC, São Paulo. In relation to 3Q20, the rate declined (-7 p.p.), mainly explained by the feedstock shortage at the petrochemical complex in Rio de Janeiro due to a ramp-up process of a local producer after a scheduled shutdown.

In the quarter, the utilization rate of the petrochemical complex in ABC, São Paulo was affected by operational constraints during the ramp-up of production after the scheduled general maintenance turnaround and the implementation of the energy efficiency project due to technical faults in one of the four engines substituting the steam turbines in this petrochemical complex. This equipment is being analyzed by the supplier and a temporary solution to return the complex to its normal operating conditions is scheduled for 1Q22.

c) Resins sales volume: in the Brazilian market, sales volume increased in relation to 2Q21 (+11%), explained by (i) the higher availability of PE, after the conclusion of the scheduled general maintenance turnaround at the petrochemical complex in ABC, São Paulo; and (ii) market share gains, in line with the strategy to prioritize serving the Brazilian market. Compared to 3Q20, sales volume decreased (-17%), mainly due to: (i) the normalization of resins demand in the Brazilian market; and (ii) the lower product availability with the process to return operations after the scheduled maintenance turnaround at the petrochemical complex in ABC, São Paulo.with the process to return operations after the scheduled maintenance turnaround at the petrochemical complex in ABC, São Paulo.

Exports increased compared to 2Q21 (+26%), mainly due to the improvement in the availability of export logistics following the chartering of additional vessels to overcome the logistics constraints in the supply chain in the period. In relation to 3Q20, exports declined (-10%), reflecting the logistics constraints to export and fewer opportunities in the international market.

d) Main chemicals sales volume: in the Brazilian market, sales volume increased in relation to 2Q21 (+8%), due to the higher product availability. Compared to 3Q20, the sales volume increased (+2%), reflecting the strong demand for gasoline and cumene, which was partially offset by the lower sales of BTX products (benzene, toluene and paraxylene), due to scheduled and unscheduled shutdowns at clients.

Exports increased compared to 2Q21 (+18%), driven by the higher exports volume of benzene to capture opportunities in the international market. In relation to 3Q20, exports were stable.

Average PVC utilization rate: considering the plants in Alagoas and Bahia, the capacity utilization rate stood at 49%, a decrease compared to 2Q21 (-22 p.p.), mainly due to the scheduled maintenance shutdowns at PVC plants in both states.

PVC sales volume: PVC sales in the Brazilian market came to approximately 119,000 tons, higher than 2Q21 (+12%). In relation to 3Q20, the decline (-26%) is explained by: (i) the lower product availability for sale in the period, given the scheduled maintenance shutdown; and (ii) the normalization of demand in the Brazilian market. The Company imported 65,000 tons of caustic soda in 3Q21, 49,000 tons higher than in 2Q21.

To restart its chlor-alkali operations, the Company completed the implementation of a project to outsource sea salt for use as feedstock in the chlor-alkali plants in Alagoas. The estimated cost of the project is approximately R$68 million, of which R$65.1 million already had been invested as of 3Q21. In February 2021, after concluding the commissioning process in accordance with the applicable safety standards, the Company announced the resumption of production of chlor-alkali and dichloroethane.

In 3Q21, the volume of caustic soda production was 59,000 tons, accounting for 51% of the utilization rate of this unit. The restarting of operations was planned in phases, with the conclusion of phases expected to the fourth quarter of 2021.

Based on its assessment and on that of its external legal advisors and considering the short- and long-term effects of the technical studies, the existing information and the best estimate of the expenses with implementing the various measures related to the geological event in Alagoas, on September 30, 2021, the Company recorded a provision of R$7,141 million, R$4,866 million of which under current liabilities and R$2,275 million under non-current liabilities. On December 31, 2020, the provision was R$9,176 million, with R$4,350 million under current liabilities and R$4,826 million under non-current liabilities.

The following table shows the changes in the provision in the period:

The amounts included in the provision can be divided into the following action fronts:

For this action front, a provision was accrued in the amount of R$3,832 million (R$3,817 million net of the adjustment to fair value), which comprises expenses related to the relocation actions, such as relocation allowance, rent allowance, household goods transportation and negotiation of individual agreements for compensation of the residents, merchants and owners of the properties affected.

The Company’s actions are based on technical studies conducted by outsourced specialists, with the recommendations presented to the competent authorities. The Company is implementing the actions approved by the ANM.

The total provision for implementing the measures planned for the 35 wells is R$1,296 million (R$1,281 million net of adjustment to fair value). The amount was calculated based on existing techniques and the solutions planned for the current conditions of the wells, including expenses with technical studies and monitoring. The amount of the provision may be changed in the future, in accordance with the results of the monitoring of the wells, the progress on implementing the plans to close wells, the monitoring of the ongoing measures and other possible natural alterations.

The provisions of the Company are based on current estimates and assumptions and may be updated in the future due to new facts and circumstances, including, but not limited to: changes in the execution time, scope and method; the success of action plans; and the conclusion of current and future studies that indicate recommendations from specialists and other new developments in the matter.  

The measures related to the mine closure plans are subject to the analysis and approval by the ANM, monitoring of the results of the measures under implementation as well as changes related to the dynamic nature of geological events.

Continuous monitoring is essential for confirming the results of the current recommendations. Accordingly, the plans to close the wells may be updated based on the need to adopt technical alternatives to stabilize the subsidence phenomena arising from the extraction of sodium chloride. In addition, the conclusion of the studies to confirm the natural filling of certain cavities and the assessment of the future behavior of the cavities to be monitored using sonar could indicate the need for certain additional measures to stabilize them.

The actions to repair, mitigate or offset potential environmental impacts and damages, as provided for in the Socio-environmental Reparation Agreement, to be financed by Braskem, will be proposed considering the environmental diagnosis prepared by a specialized and independent company. After the conclusion of all discussions with authorities and regulatory agencies, agreement will be reached on an action plan, which will be part of the measures of a Plan to Recover Degraded Areas (PRAD).

At this time, it is impossible to predict the outcome of these environmental diagnosis studies, as well as possible costs to be added in Company’s provisions or their potential implications for additional disbursements to the costs already provisioned for by the Company.

Furthermore, the Socio-Environmental Reparation Agreement envisages the potential adherence by other parties, including the municipality of Maceió. In this context, the Company is currently in the negotiation phase with the Municipality of Maceió about its requests. To date, the Company is unable to predict the results and timeframe for concluding said negotiation or its possible scope and associated costs.

It is not possible to anticipate all new claims, of compensatory or other nature, that may be brought by individuals or groups that understand they suffered impacts and/or damages somehow related to the geological phenomenon and the relocation of people from risk areas. Braskem continues to face and could still face various lawsuits filed by individuals or legal entities not included in the PCF or that disagree with the individual proposal of the agreement, as well as potential class actions and lawsuits filed by public utility concessionaires. Therefore, the number of such actions, their nature or the amounts involved cannot be estimated.

Therefore, Braskem cannot eliminate the possibility of future developments related to the Geological Event in Alagoas or related expenses, and the costs to be incurred by it may differ from its estimates and forecasts.

The Company is negotiating with its insurers the coverage of its insurance policies. The payment of compensation will depend on a technical assessment of the insurance coverage under these policies, acknowledging the complexity of the matter. As such, no payment of compensation was recognized in the quarterly information of the Company.

For more information, see note 24 (“Geological event - Alagoas”) of the Consolidated Financial Statements of September 30, 2021.

On October 31, 2021, around 13,900 properties had been vacated from the areas specified in the Agreement to Compensate Residents, which represents 97% of the families. Regarding the bank account specifically for funding the Financial Compensation and Support for Relocation Program (“PCF”), in the amount of R$1.7 billion, approximately R$1.6 billion already had been disbursed as of end-October. The expenses made were mainly for financial aid for relocation, rent allowance, compensation for pain and suffering, damages and attorney fees.

In addition, in connection with the Agreement for Compensation of Residents, the Company and the DPE, MPF, MPE and DPU agreed to the transfer of R$1 billion to Braskem’s bank account specifically for funding the PCF, in 10 monthly installments of R$100 million each, starting in January 2021, on or around the 15^th day of each month. On October 15, the tenth and last deposit was made, in the amount of R$1 billion.

A) NET REVENUE: increased in Brazilian real (+8%) and U.S. dollar (+9%) compared to 2Q21, explained by the higher prices for main chemicals in the international market and by the higher sales volume of resins and main base chemicals.

Compared to 3Q20, the increase in Brazilian real (+61%) and U.S. dollar (+66%) is basically explained by the higher price for resins and main chemicals in the international market and by the higher sales volume of main base chemicals.

Sales by sector (%)

Sales by region (% in tons)

On November 4, Resolution GECEX No. 269 was approved by the Brazilian government regarding the temporary reduction of import tax rates, which is dealt with in Resolution No. 125 of the Foreign Trade Chamber, of December 15, 2016, in the country in 10%. Thus, the current rates for PP, PE and PVC resins will drop from 14% to 12.6%. The new rates take effect on November 12, 2021, and are in effect, in principle, until December 31, 2022.

B) COST OF GOODS SOLD (COGS): increased in Brazilian real (+28%) and U.S. dollar (+29%) in relation to 2Q21, and compared to 3Q20 increased in Brazilian real (+58%) and U.S. dollar (+62%), explained by the higher prices for the main petrochemical feedstocks (naphtha, ethane and propane) in the international market, influenced primarily by the higher prices for oil and natural gas in the international market, and the higher sales volume of main chemicals.

In the quarter, COGS was affected by the PIS/COFINS tax credit on feedstock purchases (REIQ) in the amount of approximately US$57 million (R$300 million) and by the Reintegra tax credit in the amount of approximately US$0.7 million (R$3.5 million).

Starting on July, the reduction under REIQ in the PIS/COFINS taxes levied on feedstock purchases was reduced by 2.92%, in accordance with the gradual reduction established under Conversion Draft Bill 12/2021 that was passed into law.

C) SG&A EXPENSES: in U.S. dollar, increased in relation to 2Q21 (+27%) and 3Q20 (+22%), basically due to the increase in expenses with third parties, IT and logistics services.

D) RECURRING OPERATING RESULT: corresponded to 55% of the Company’s consolidated recurring Operating Result.

a) PP demand: in the United States, PP demand increased in relation to 2Q21 (+2%), reflecting higher demand from the rigid packaging and film segments. Compared to 3Q20, the increase (+12%) is explained by the recovery in industrial activity in that quarter due to COVID impacts in 2Q20.

In Europe, the reduction in relation to 2Q21 (-8%) is explained by seasonality. Compared to 3Q20, PP demand remained stable.

¹⁴ U.S. PP – U.S. propylene price

¹⁵ Propane Dehydrogenation Plants

¹⁶ EU PP – EU propylene price

b) Average utilization rate of PP plants¹⁷: in the United States, it decreased in relation to 2Q21 (-4 p.p.) and 3Q20 (-5 p.p.), due to small unscheduled shutdowns at PP plants in the period but it remained above the industry average.

In Europe, the utilization rate decreased in relation to 2Q21 (-4 p.p.), due to small unscheduled shutdowns at PP plants in the period but it remained above the industry average. Compared to 3Q20, the utilization rate increased (+5 p.p.), explained by the normalization of operations in the region after the downturn in demand in 3Q20 due to COVID impacts and by the unscheduled shutdowns at plants in 3Q20.

c) PP sales volume¹⁸: in the United States, PP sales volume decreased in relation to 2Q21 (-2%), reflecting the lower product availability. Compared to 3Q20, the 9% increase is mainly explained by the ramp-up of the new PP plant (Delta), with commercial production beginning in September 2020.

In Europe, PP sales volume declined (-6%) in relation to 2Q21, reflecting the seasonally weaker demand. Compared to 3Q20, the increase (+9%) is explained by the higher product availability in the period and by the weaker demand in 3Q20 due to COVID impacts.

¹⁷ U.S. 3Q20 data does not consider production capacity and volumes from Delta.

¹⁸ U.S. 3Q20 data does not consider sales volume from Delta

A) NET REVENUE: increase in Brazilian real (+11%) and U.S. dollar (+12%) compared to 2Q21, explained by the higher PP price in the United States.

In relation to 3Q20, net revenue increase in Brazilian real (+135%) and U.S. dollar (+142%), explained by the higher PP price in the United States and Europe and by the higher sales volume in both regions.

B) COST OF GOODS SOLD (COGS): compared to 2Q21, increase in Brazilian real (+13%) and U.S. dollar (+14%), explained by the higher propylene price in the United States and Europe.

In relation to 3Q20, the increase in Brazilian real (+105%) and U.S. dollar (+111%) is explained by: (i) the higher propylene price in the United States and Europe; and (ii) the higher sales volume in both regions.

C) SG&A EXPENSES: in U.S. dollar, the 17% increase in relation to 2Q21 is explained by higher costs with industrial and facilities maintenance services and with logistics services. Compared to 3Q20, the increase (+36%) is explained by the higher costs with industrial and facilities maintenance services and with port services.

D) RECURRING OPERATING RESULT: corresponded to 34% of the Company’s consolidated recurring Operating Result.

a) PE demand in the Mexican market: increased 17% in relation to 2Q21, due to seasonality. Compared to 3Q20, the 22% increase is explained by the normalization of demand, which was affected in that quarter by the economic slowdown caused by COVID.

¹⁹ U.S. PE – U.S. ethane price

b) Average utilization rate of PE plants: increased 10 p.p. compared to 2Q21, basically explained by higher ethane imports from the United States under the Fast Track solution, which offset the lower ethane supply from Pemex. Compared to 3Q20, the rate declined 16 p.p., mainly due to the lower volume of ethane supplied by Pemex.

In August, Braskem Idesa concluded the project to expand import capacity of Fast Track, which currently stands at 25,000 barrels per day. As a result, in September, import volume reached a record high of 22,400 barrels per day. In 3Q21, to complement the supply of ethane by Pemex, Braskem Idesa imported from the United States 18,600 barrels of ethane on average per day, which represents around 74% of Fast Track’s current capacity.

Additionally, the Company is working on plans for further expanding capacity of the Fast Track solution that involves the incorporation of additional unloading stations, which could enable Braskem Idesa to reach maximum ethane import volume capacity of up to 35,000 barrels per day, with the project's conclusion expected for during the 2Q22.

c) PE sales volume: increased 3% compared to 2Q21, due to the higher product availability for sale, reflecting the higher utilization rate in the quarter supported by higher ethane imports. In relation to 3Q20, the 29% decrease is explained by the higher product availability for sale compared to the same quarter of last year.

d) Contractual renegotiation: as per the Notice to the Market dated as of September 28, 2021, Braskem Idesa signed the following documents:

The Amendment changes the minimum volume commitment to 30,000 barrels per day until the earliest of: (i) the operational startup of the ethane import terminal, scheduled for the second semester of 2024, or (ii) February 2025 (which could be extended if there are delays in obtaining licenses). The Amendment also gives BI the preemptive right to acquire all the ethane that PEMEX has available and has not consumed in its own production process until 2045, at international benchmark prices.

Furthermore, as per the Material Fact notice dated as of October 20, 2021, Braskem Idesa has secured the applicable corporate approvals, including final approval by its shareholders and creditors regarding items (i) and (ii) above.

A) NET REVENUE: increases in Brazilian real (+1%) and U.S. dollar (+3%) compared to 2Q21, due to the higher PE price in the international market and the higher sales volume in the period.

Compared to 3Q20, the increase in Brazilian real (+58%) and U.S. dollar (+62%) is explained by the higher PE price in the international market.

Sales by sector (%)

Sales by region (% in tons)

B) COST OF GOODS SOLD (COGS)²⁰: increase in Brazilian real (+21%) and U.S. dollar (+22%) compared to 2Q21, due to the higher sales volume and the higher ethane price in the international market.

Compared to 3Q20, the increase in Brazilian real (+11%) and U.S. dollar (+14%) is explained by the higher ethane price in the international market.

²⁰ In 3Q21, after applicable corporate approvals, including the final approval of Braskem Idesa shareholders and creditors, regarding the amendment to the ethane supply contract by Pemex, the ethane price formula was retroactively adjusted to the date of signature of the Memorandum of Understanding between Braskem Idesa and Pemex, resulting in a provision of US$27.6 million in the quarter. Although the accounting of this cost from previous months took place in 3Q21, for better comparability, we are diluting this impact between the quarters of 2021 on the Adjusted Recurring Operating Results, being US$2.2 million related to 1Q21, US$13.3 million related to 2Q21 and US$12.1 million related to 3Q21.

C) SG&A EXPENSES: in U.S. dollar, remained in line with 2Q21. Compared to 3Q20, the increase (+4%) was due to the higher expenses with third parties and with studies for the construction of a new ethane import terminal.

D) RECURRING OPERATING RESULT: corresponded to 11% of the Company’s consolidated recurring Operating Result.

In light of the allegations of undue payments related to the Ethylene XXI project, which were originally published in the media in Mexico and were included in the testimony by the former CEO of PEMEX to the Office of the Attorney General of Mexico (“Allegations”), Braskem S.A., together with Braskem Idesa, in compliance with the standards established by Braskem's Global Compliance System Policy and Braskem Idesa's governance guidelines, approved the hiring of an U.S. law firm with proven experience in similar cases to conduct an independent internal investigation of the Allegations (“Investigation”).

The Investigation is ongoing, and the Company is, at the moment, unable to estimate the scheduled date of its conclusion or its outcome and/or possible impacts, if any, on its quarterly information, and it has not identified, to date, matters that could affect or require disclosure in the quarterly information. If the Investigation finds evidence to support any of the Allegations, such findings could affect the Company's business, reputation, financial condition, controls and operating results, as well as the liquidity and price of the securities issued by it.

B) CONSOLIDATED COGS

C) OTHER REVENUE (EXPENSE), NET

The Company recorded in 3Q21 a net expense of R$519 million, mainly due to: (i) the accounting provision of R$142 million for expenses associated with the geological event in Alagoas for updating the amounts allocated to stabilizing wells and to the Financial Compensation and Support for Relocation Program; (ii) the recovery of taxes due to the non-recognition of new PIS/COFINS tax credits; (iii) the various provisions related to the remediation of possible environmental impacts; and (iv) the financial penalty of R$74 million related mainly to the "deliver or pay" clause in a feedstock supply agreement with a local supplier. These negative impacts were partially offset by the reallocation of scheduled maintenance shutdowns in quarters prior to 2021 from Other revenue (expense) to Cost of goods sold, in accordance with accounting standards and practices.

D) RECURRING OPERATING RESULT²¹

In 3Q21, the Company’s recurring Operating Result was US$1,469 million, 17% lower than 2Q21, mainly due to: (i) lower spreads for resins in Brazil, PP in Europe, and PE in Mexico, but above the historical average of the past ten years²²; and (ii) higher PP sales volume in the United States and Europe. Compared to 3Q20, recurring Operating Result in U.S. dollar increased 116%, due to: (i) better spreads for main chemicals, PE and PVC in Brazil, for PP in the United States and Europe and for PE in Mexico; and (ii) higher sales volume of main chemicals in Brazil and of PP in the United States and Europe due to the recovery in demand after COVID impact. In Brazilian real, recurring Operating Result was R$7,670 million, 18% lower than 2Q21, reflecting the Brazilian real appreciation against the U.S. dollar of 1%, and 109% higher than 3Q20.

E) NET FINANCIAL RESULT

BRASKEM (ex-BRASKEM IDESA)

Financial expenses: decreased in relation to 2Q21 (-13%), explained by the decline in amortization transaction costs associated with the prepayments made in the period, which were higher in the previous quarter, and by the lower expenses with derivatives. In relation to 3Q20, the increase (+5%) is explained by the amortization of transaction costs associated with the prepayments made in the period.

²¹ Braskem’s consolidated result corresponds to the sum of the results in Brazil, United States & Europe and Mexico, less eliminations from the revenues and costs related to transfers of products among these regions.

²² Considers the period from 2011 to 2020.

Financial revenue: decreased in relation to 2Q21 (-51%), due to: (i) the nonrecognition of interest on the tax assets related to overpayments of PIS and COFINS tax liabilities in prior periods; and (ii) the impact from lower revenue from derivatives. Compared to 3Q20, the decrease (-2%) is mainly explained by other revenue from financial investments in 3Q20.

Net exchange variation: decreased compared to 2Q21, mainly due to the effects from the depreciation in the Brazilian real against the U.S. dollar on net exposure in the amount of US$2,493 million. Compared to 3Q20, the increase is explained by the higher net exposure to the U.S. dollar.

Transactions in financial instruments under hedge accounting

In the quarter, the Company registered US$180 million (R$356 million) in exports from a flow that was discontinued. The initial designation rate was US$1/R$2.0017, while the average realization rate was US$1/R$3.9786.

The balance of financial instruments designated for hedge accounting ended 3Q21 at US$5.1 billion.

Long-term Currency Hedge Program:

Braskem’s feedstock and products have their prices denominated or strongly influenced by international commodity prices, which are usually denominated in U.S. dollars. Starting in 2016, Braskem contracted derivative instruments to mitigate part of the exposure of its cash flow denominated in Brazilian real. The main purpose of the program is to mitigate U.S. dollar call and put option agreements, protecting estimated flows for a 24-month period.

On September 30, 2021, Braskem had a notional value of outstanding put options of US$1.95 billion, at an average exercise price of R$/US$4.68. At the same time, the Company also had a notional value of outstanding call options of US$1.36 billion, at an average exercise price of R$/US$6.71. The contracted operations have a maximum term of 24 months. The mark-to-market (fair value) of these Zero Cost Collar (“ZCC”) operations was negative R$115 million at the end of the quarter.

As a result of the depreciation of the Brazilian real in relation to the U.S. dollar during the program, the Company exercised part of the calls of the ZCC program. The effect on cash flow for 3Q21 was R$19 million.

BRASKEM IDESA

Financial expenses: remained stable in relation to 2Q21, reflecting the lower expenses with derivatives related to the interest rate swap operations in connection with the Project Finance, which was offset by the higher interest related to the Project Finance and to the bond issue carried out by Braskem Idesa in late 2019 due to the Brazilian real depreciation against the dollar in the period. Compared to 3Q20, the decline (-6%) is explained by the lower interest related to the Project Finance and by the bond issue carried out by Braskem Idesa in late 2019 due to the Brazilian real appreciation against the U.S. dollar in the period.

Financial revenue: remained stable in relation to 2Q21. Compared to 3Q20, the increase is explained by the higher revenue from derivative instruments related to the interest rate swap operation linked to the Project Finance.

Net exchange variation: decrease compared to 2Q21, due to the effects from the depreciation in the Mexican peso against the U.S. dollar on the outstanding balance of the loan of Braskem Idesa in the amount of US$2,416 million. In relation to 3Q20, net exchange rate variation was affected by the 4% increase in average exposure (US$2,416 million) compared to 3Q20.

F) FREE CASH FLOW

Free cash flow generation in 3Q21 was R$3,911 million, a record high for a quarterly result, explained mainly by: (i) the recurring Operating Result in the quarter; and (ii) the monetization of PIS/COFINS credits in the approximate amount of R$677 million. These positive impacts were offset mainly by: (i) the negative variation in working capital, explained by the management of finished product inventory to prepare for scheduled maintenance shutdowns in the United States and Mexico, besides the supplier management; (ii) the interest payments on bonds; (iii) the payment of IR/CSLL due to the strong recurring Operating Result; and (iv) the consumption of operational capex.

G) LIQUIDITY & CAPITAL RESOURCES

BRASKEM (ex-BRASKEM IDESA)

On September 30, 2021, the average debt term was around 15 years, with approximately 55% of maturities concentrated after 2030. The weighted average cost of the Company’s debt was exchange variation plus 5.2%.

The liquidity position of US$3,237 million is sufficient to cover the payment of all liabilities coming due in the next 75 months, considering the international rotating credit facility of US$1 billion available through 2023.

BRASKEM IDESA

On September 30, 2021, the average debt term was around 5 years, with 41% of maturities concentrated after 2029. The weighted average cost of the Company’s debt was exchange variation plus 5.4%.

Braskem Idesa has guarantees typical to Project Finance structures: debt service reserve account and contingent equity commitment. At the end of September 2021, these guarantees corresponded to US$194 million and US$208 million, respectively.

In October, Braskem Idesa concluded its debt refinancing plan, which involved substituting the remaining balance of US$1.35 billion of the Project Finance with new debt, namely: (i) the bond issue in the amount of US$1.2 billion; and (ii) term loan in the amount of US$150 million. The new funding operations have long debt terms that lengthened the average debt term to 9 years and a weighted average debt cost of exchange variation +7.1%. With the settlement of the Project Finance debt, the guarantees pledged by Braskem to Braskem Idesa, in the total amount of US$358 million, will be extinguished.

The new capital structure of Braskem Idesa includes the issue of debt securities that include a commitment to and interest rates linked to targets for reducing carbon emissions, in line with the Company's long-term sustainable development strategy.

H) INVESTMENTS & VALUE CREATION

The Company’s investment plans for 2021 are as follows: (i) US$667 million for operating investments; (ii) US$97 million for strategic investments; and (iii) US$34 million for operating investments at Braskem Idesa.

Operating Investments 3Q21: the main operating investments were in: (i) the scheduled maintenance shutdown at the PVC plants in Bahia and in Maceió; (ii) the post general maintenance scheduled shutdown at the plants in ABC, São Paulo, which were carried out in 2Q21; and (iii) the continued ramp-up in the restarting of the chlor-alkali plant in Maceió.

Strategic Investments 3Q21: expenditures were allocated to the following projects: (i) modernization of the electrical system of the petrochemical complex in ABC; (ii) construction of a recycling line for high-quality post-consumer resin in Brazil; and (iii) expansion of biopolymer capacity at the Triunfo Petrochemical Complex.

VALUE CREATION

Transform For Value Program

The Transform for Value (TFV) program ended the first half of 2021 with projects on pace to capturing recurring annual savings of US$147 million. Over the course of the third quarter (3Q21), leveraged by continued progress on implementing the initiatives mapped, especially on the continuous improvement and redesigning processes fronts, the portion of the pipeline on pace to capture savings achieved even better results, reaching the mark of US$ 192 million/year²³, which represents a 30% increase from the end of the previous quarter.

The continued delivery of results by the Transform for Value Program is supported by its working model, which aims to: (i) Consolidate visions: implementing a singular vision of the company's improvement pipeline; (ii) Prioritize resources: optimizing resources by prioritizing those initiatives with the most potential to create value for Braskem; (iii) Driving implementations: accelerating the implementation of key initiatives by allocating extra resources; and (iv) Communicating results: sharing information on the program's progress and value creation with both the internal and external publics.

As explained previously, to facilitate the management and communication of advances, the initiatives are organized in accordance with the logic of the stage gates process model, under which each stage can be interpreted as follows:

Stage 1 – Identification: Initiatives in the formatting and/or identification of solutions phase – Recently conceived and/or still not prioritized for more in-depth analysis, do not count as detailed business case

Stage 2 – Planning: Initiatives in phase of finalizing/updating impact quantifying and execution plan – Have a detailed business case, evaluation of capture potential and implementation timetable

Stage 3 – Execution: Initiatives in implementation phase – Have the funds needed for their implementation already allocated, since they already have been prioritized and approved

²³ Considering only initiatives in stage 4 (Run-rate), when measurements of gains could vary as actions advance, and in stage 5 (Concluded), after stabilization and/or the internal audit

Stage 4 – Run-rate: Initiatives in initial operation phase, marked by the stabilization of performance and the measurement of gains in accordance with the previously defined assumptions.

Stage 5 – Concluded: Initiatives already implemented whose stabilization process has been concluded – In some cases, they undergo an internal audit to verify the gains

With a global scope, the program comprises initiatives with conclusion between 2020 and 2023 that are part of 5 different pipelines, namely:

The initiative's implementation already represents a capture pace of approximately US$11.1 million/year (with the potential of another US$20 million/year expected to be reached in 2022) in South America alone.

Capacity Expansion & Energy Efficiency Projects

Project to expand biopolymers production capacity in the Triunfo Petrochemical Complex in Rio Grande do Sul

Expansion of current green ethylene production capacity from 200,000 tons per year to 260,000 tons per year using feedstock made from sugarcane ethanol that is used to make I’m green^TM biobased resins, with startup slated for 2022 and investments estimated at US$61 million. The project is aligned with the Company’s goal of reaching net zero carbon by 2050, while also reinforcing its position as the global leader in biopolymers production. As of 3Q21, the Company had disbursed US$4.4 million, with the investment reaching physical progress of 13.1%.

Project to produce high-quality recycled resin

In partnership with Valoren, a company specializing in developing and operating technologies for transforming solid waste, Braskem will invest R$67 million in the construction of a recycling line with capacity to transform some 250 million pieces of packaging into 14,000 tons of high-quality, post-consumer resin per year. The project will be installed in Indaiatuba, in the interior of São Paulo state, and is expected to start operations in the fourth quarter of 2021. As of 3Q21, the Company had disbursed R$26.7 million, representing physical progress of 71% of the investment.

Energy efficiency project for ABC petrochemical complex

In partnership with the German-based company Siemens, the Company is modernizing its ABC petrochemical complex in São Paulo. With total estimated investment of R$600 million, considering the disbursements from Braskem and Siemens, the project includes replacing the steam turbines that currently meet the needs of the complex with high-speed electrical engines developed with state-of-the-art and high-performance technology.

The operations were expected to fully startup in 3Q21 after the general maintenance turnaround at the ABC unit. However, a technical fault was presented in one of the four engines that substituted the steam turbines that delayed the motorization phase of the unit, which is under Braskem's scope. The equipment is in the process of analysis with the supplier and, in parallel, a temporary solution is in progress to return the unit to normal operating conditions scheduled for 1Q22 and a definitive solution during the first half of said year.

In the energy cogeneration phase, which is under the scope of Siemens, Braskem's partner in the project, the first steam and power generation series was assembled and began testing. The unit is slated for commissioning in 1T22.

²⁴ Incident with loss of containment of products above the limits established in the American Petroleum Institute (API) 754 for TIER 1, based on the product released, or any release that causes: fatality or lost-time injury of an employee or third party, hospital damages or fatality of the external public, financial losses greater than US$100,000, or evacuation of the community.

²⁵ Incident with loss of containment of products above the limits established in the American Petroleum Institute (API) 754 for TIER 2, based on the product released, or any release that causes: reportable injury of own employee or third party and financial loss greater than US$2,500.

²⁶ Board of Directors

Recycled Sales (I'm green^TM Recycled)

²⁷ The recycled chemicals are not considered under the brand I'm green^TM biobased.

Green PE Sales (I’m green^TM biobased)

Note that in August, green ethylene production set another monthly record and, for the second time, a quarterly production record.

The recurring Operating Result in Brazilian real of this segment declined in relation to 2Q21 (-9%), mainly due to the lower sales volume and higher ethanol price. Compared to 3Q20, the recurring Operating Result increased (+35%), explained by higher demand for the product, which had a positive effect on prices.

ECO-INDICATORS²⁸

In the year to date, the ecoefficiency indicators of Braskem’s plants were mainly affected by the higher production volume resulting from the restarting of the chlor-alkali plant in Alagoas state, the ramp-up of the new PP plant production in the United States, the increase in production by the petrochemical complexes in Bahia and in Rio Grande do Sul and the better global scenario for the COVID pandemic. The waste generation indicator increased (+10%), mainly due to the scheduled maintenance shutdown of the petrochemical complex in ABC, São Paulo.

²⁸ The data can be revised depending on internal updates.

On September 30, 2021, Braskem’s stock was quoted at R$59.34 (BRKM5) and US$21.83 (BAK). The Company’s shares are listed on the Level 1 corporate governance segment of the B3 – Brasil, Bolsa e Balcão and on the New York Stock Exchange (NYSE) through Level 2 American Depositary Receipts (ADRs). Each Braskem ADR (BAK) corresponds to two class “A” preferred shares issued by the Company.

In September, the risk rating agency S&P Global Ratings (S&P) upgraded the Company’s risk rating on the global scale to BBB-, with a stable outlook. The agency highlighted that the investment upgrade reflects the significant improvements in profitability and cash generation indicators, Braskem’s commitment to deleveraging and the agency’s expectation that the Company continues benefiting from high petrochemical spreads in the following quarters.

Since last earnings release, the risk rating agency Fitch Ratings has kept its rating for Braskem on the global scale unchanged at BB+, with a positive outlook. Meanwhile, Moody's kept its rating for the Company on the global scale at Ba1, with a stable outlook.

Braskem reiterates that it maintains a solid cash position and debt maturity profile concentrated in the long term. Furthermore, in line with the continuous commitment to its financial health and to regaining its investment grade rating, Braskem continued to reduce its corporate leverage, measured as the ratio of net debt to recurring Operating Result²⁹ in U.S. dollar, which ended 3Q21 at 0.81x, down 26% in relation to 2Q21 (1.10x).

²⁹ Excludes the Project Finance in Mexico and based on recurring Operating Result.

BRAZIL

Despite the lower seasonality, growth in total resin sales volume (internal and external markets), given the higher product availability, which can be partially compensated by the seasonality. The Company also will continue to implement the strategy of prioritizing sales to the Brazilian and South American markets.

With regard to petrochemical spreads, based on the forecasts of international external consultants, the expectation is for PE-Naphtha spreads to remain at levels above the recent historical average (2016-2020), but to narrow in relation to the previous quarter, due to (i) the expectation of higher PE supply due to the restarting of operations at producers after natural events; and (ii) the expectation of higher feedstock prices (naphtha), given higher oil prices in the international market. Furthermore, consultants are expecting for a widening of PP and PVC spreads in relation to 3Q21, given the expectation of anticipations in purchases in the region due to uncertainties with local supply.

UNITED STATES & EUROPE

In the United States, the expectation is for PP sales volume to remain in line, despite lower production in the period, given the scheduled maintenance shutdown at one of the country's plants.

In addition, based on forecasts by international external consultants, PP-Propylene spreads in the United States should remain above the recent historical average (2016-20), but at levels below those of the third quarter, mainly due to the expectation of an increase in PP supply due to the restarting of operations at producers after natural events.

In relation to the Company’s business in Europe, sales volume should remain in line with 3Q21, due to the maintenance of product availability, but with Europe PP-Propylene spreads narrowing, mainly due to the region's higher propylene price, following the hikes in oil and naphtha prices.

MEXICO

In the Mexico business, despite the expected decline in production due to the scheduled maintenance shutdown, the expectation is for PE sales volume to remain in line with the previous quarter, given the supply of product in inventory built up over recent months.

With regard to spreads, based on the projections of external consultants, the expectation is for the U.S. PE-Ethane spread to remain at levels above the recent historical average (2016-2020), but to decrease due to (i) the expectation of higher PE supply given the restarting of operations at producers after natural events; and (ii) the expectation of higher prices for feedstock (ethane), due to the higher natural gas prices in the export markets, basically explained by the higher export volumes of the commodity, which affected its supply.

LIST OF ANNEXES:

ANNEX I

Consolidated Income Statement

ANNEX II

Consolidated Recurring Operating Result Calculation

ANNEX III

Consolidated Balance Sheet

ANNEX IV

Consolidated Cash Flow

ANNEX V

Braskem Idesa Income Statement

ANNEX VI

Braskem Idesa Balance Sheet

ANNEX VII

Braskem Idesa Cash Flow

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: November 9, 2021

DISCLAIMER ON FORWARD-LOOKING STATEMENTS

This report on Form 6-K may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are statements that are not historical facts, and are based on our management’s current view and estimates of future economic and other circumstances, industry conditions, company performance and financial results, including any potential or projected impact of the geological event in Alagoas and related legal proceedings and of COVID-19 on our business, financial condition and operating results. The words “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the potential outcome of legal and administrative proceedings, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting our financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of our management and are subject to a number of risks and uncertainties, many of which are outside of the our control. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors, including the projected impact of the geological event in Alagoas and related legal proceedings and the unprecedented impact of COVID-19 pandemic on our business, employees, service providers, stockholders, investors and other stakeholders, could cause actual results to differ materially from current expectations. Please refer to our annual report on Form 20-F for the year ended December 31, 2019 filed with the SEC, as well as any subsequent filings made by us pursuant to the Exchange Act, each of which is available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation.