Braskem - Withdrawing Previous Post

Avoiding speculation - I am already positioned

I currently have around 10% of my NAV in Braskem and I think an acquisition may be imminent.

However, I am also aware that the environmental disaster in Maceió due to the collapsing salt mine which was shut down in 2019 is currently prominent in Brazilian media. Some are saying the credit rating withdrawal is due to this environmental event. I think the geological event is close to its conclusion, but I am not on the ground.

We will see what the coming weeks bring, but I am withdrawing my previous speculation regarding Braskem’s announcement that it is cancelling its Moody’s credit rating services is a sign that a deal is imminent.