Odebrecht 2015

TRUST AND UNITY CHILDREN FROM YURIMAGUAS, NORTHERN : THE TOWN IS GROWING AND DEVELOPING THANKS TO THE IIRSA NORTH HIGHWAY, WHICH RUNS THROUGH THE ANDES MOUNTAINS AND LINKS THE PACIFIC AND ATLANTIC OCEANS

TRUST AND UNITY

PRESENT FOR OVER Much of what you will read in the SEVEN DECADES IN directly linked to the development following pages of this report reflects SEVERAL DIFFERENT of their local countries and regions. new guidelines the Group has adopted MARKETS, REGIONS due to changes in the domestic and AND COUNTRIES, THE teams united by the ethical and moral world scenes. Odebrecht adapts its ODEBRECHT GROUP IS concepts set forth in the Odebrecht structure to the demands of the most A MODEL OF SOLIDITY, Entrepreneurial Technology (TEO). competitive markets, increases its WORKING ON THE TEO is the basis for the work of all productivity and maintains investments BASIS OF CONFIDENCE Odebrecht Members and lays the in important projects for improving lives IN PEOPLE AND THE foundations for strengthening and in different parts of the world. Above ETHOS OF SERVICE. consolidating the Group. When times all, the Group reaffirms its confidence are tough, these clear principles in the development of people and guide and motivate its teams to communities and its commitment to learn, overcome and pursue the future. constant renewal. Odebrecht 2015

THIS REPORT PRESENTS THE MAIN RESULTS OF THE ODEBRECHT GROUP IN ALL ITS BUSINESSES AND FIELDS OF OPERATION IN 2014. IT CONTAINS CONSOLIDATED FINANCIAL, SOCIAL, ENVIRONMENTAL, CULTURAL AND SAFETY INDICATORS, AND SHOWCASES THE ORGANIZATION’S MAIN ACHIEVEMENTS DURING THAT PERIOD, INCLUDING UP-TO-DATE INFORMATION ON THE GROUP’S MACROSTRUCTURE.

THE ODEBRECHT GROUP 4 MESSAGE FROM THE CHAIRMAN OF THE BOARD 10 MESSAGE FROM THE PRESIDENT AND CEO 12 INDICATORS 22 BUSINESSES 48 INVESTMENTS 72 SUPPORT COMPANIES 75 SOCIAL PROGRAMS 80 EXECUTIVES 83 Odebrecht 2015 5

HOLDING COMPANY BUSINESSES

Construtora Norberto Odebrecht THE ODEBRECHT GROUP ODEBRECHT ENGINEERING & BOARD OF CONSTRUCTION Odebrecht S.a. DIRECTORS ODEBRECHT ENGINEERING & CONSTRUCTION INTERNATIONAL

AFRICA, UNITED ARAB EMIRATES AND PORTUGAL UNITED STATES FOUNDED IN THE CITY OF SALVADOR, INDUSTRIAL ENGINEERINg BAHIA, , IN 1944, ODEBRECHT IS NOW A GLOBAL ORGANIZATION Odebrecht teams always work ODEBRECHT REAL ESTATE DEVELOPMENTS closely with their Clients and WITH OVER 168,000 MEMBERS FROM Communities, meeting their demands with speed and ODEBRECHT ENVIRONMENTAL DIFFERENT NATIONALITIES PRESENT efficiency. As a result, the Group INVESTMENT FUNDS has firmly established itself as IN BRAZIL AND 27 OTHER COUNTRIES. a synergistic confederation of – Fundo ODEBRECHT BRAsIL small firms. – ODEBRECHT AFRICA FUND odebrecht latinvest – ODEBRECHT LATIN FUND As a non-operational holding company, Odebrecht S.A. ODEBRECHT OIL & GAS focuses on preserving the Group’s organizational culture SUPPORT COMPANIES and maintaining the direction of its Businesses. They, in turn, are – ODEBRECHT Serviços de Exportação odebrecht transPort – ODEBRECHT Corretora de Seguros run autonomously according to – ODEBRECHT Previdência the principles of decentralization – ODEBRECHT Engenharia de Projetos and planned delegation – ODEBRECHT Comercializadora de energia established by the Group.

The Business’s growth is based on developing important odebrecht agroindustrial projects for their communities.

Three generations succeeding each other and working together ENSEADA SHIPBUILDING – an integral part of Odebrecht´s

entrepreneurial culture – provide Odebrecht Foundation* growth and development ODEBRECHT DEFENSE & TECHNOLOGY opportunities for its Members and contribute to the Group’s perpetuity.

*The Odebrecht Foundation is maintained by Odebrecht S.A. Odebrecht 2015 7

ODEBRECHT ENTREPRENEURIAL TECHNOLOGY (TEO)

Firmly grounded on humanist values, TEO is the basis for an entrepreneurial culture centered on action and focused on education and work. Its interconnected Principles, Concepts and Criteria provide Odebrecht Group Members the ethical, moral and conceptual pillars they require to work with unified thinking, a common strategic direction and consistent actions.

CODE OF CONDUCT

The Group has a Code of Conduct that provides guidelines for all its Members’ internal and external relations, no matter what their roles and responsibilities. Odebrecht also believes that the principles and other guidelines in its Code of Conduct must be applied and disseminated along its entire value chain.

The Group’s presence in the global market and its Members’ active participation in several different businesses, geographic regions and cultures require not only transparent standards of conduct but compliance with many different legal systems. The Code of Conduct addresses these requirements.

LUCIANA GONZÁLES SANTILLÁN, A PERUVIAN MEMBER OF ODEBRECHT ENGINEERING & CONSTRUCTION INTERNATIONAL IN LATIN AMERICA Odebrecht 2015 9

United Kingdom

Netherlands

Germany Luxembourg

austria Presence Spain Portugal in the world United States China Cuba

Dominican Republic United Arab Emirates Brazil Mexico Angola Guatemala Ghana Argentina

Austria Panama Chile China Singapore Colombia Ecuador Cuba Mozambique Dominican Republic Peru Brazil Ecuador Angola Germany Ghana Guatemala Paraguay Luxembourg South Africa Mexico Chile Mozambique U 20 million n r

b o Netherlands Argentina people use these services i a t n a Exports t

Panama t i r n Paraguay a daily a Odebrecht is present n S s In the petrochemicals field, In the agroindustrial sector, Odebrecht p ic o s Peru r a t B Braskem serves over 40 countries. supplies Brazilian to South at – Portugal io ys in Brazil Nearly 98% of its exports go to Korea and exports sugar to 24 n – Highwa Singapore and in other Argentina, Bolivia, Canada, Chile, countries: Algeria, Bahrain, Bangladesh, South Africa Colombia, France, Germany, Canada, China, Croatia, Egypt, India, Spain 27 countries Italy, Japan, Mexico, Netherlands, Israel, Latvia, Lithuania, Malaysia, A United Arab Emirates m ia Paraguay, Peru, Poland, Singapore, Nigeria, Republic of Georgia, Romania, e s United States r A ic – South Korea, Spain, Switzerland, Russia, Spain, Tunisia, Ukraine, United a e United Kingdom s – op United Kingdom, United States, Arab Emirates, United Kingdom, Af Eur Venezuela rica – Uruguay and Venezuela. Uruguay, Venezuela and Yemen. Odebrecht 2015 11

he Group’s history is essentially the story of the people What do we believe? who have contributed to the results achieved over the We believe that our relationship with the government is course of more than 70 years. completely legitimate - not only in Brazil but in all the countries We have confidence in people - in their ability and where we operate. Tdesire to grow - and seek to propel their development. In this or- Historically, Odebrecht has been chosen by public and private ganization, this is done through what we call Education through Clients due to its proven delivery capability, honoring quality and Work, the process of grooming our Members. Education through time commitments. Our projects are carefully detailed to comply Work involves the simultaneous coexistence of different genera- with stringent international requirements of sustainability, neces- tions within the companies, where each of them passes on their sary for obtaining financing. knowledge and experience to the others, who in turn contribute We understand, however, that the problem of their ability to achieve results. Trust is the basis of this process, as merits attention and extreme care and must be combated, and is ensuring delegation and therefore decentralization. that it is necessary to demonstrate the legality of any activities We also encourage the ethos of service - to Clients and the involving public resources. MESSAGE FROM THE community. Our Members seek personal and professional fulfill- We believe that relations between the public and private ment, winning over and keeping their Clients satisfied and ex- sectors should be fully transparent. Therefore, we have agreed to CHAIRMAN OF THE BOARD tending their activities to improve the quality of life of the com- present all transactions between our companies and government munities with which they interact. agencies for public examination. Emílio Odebrecht This is not an abstraction – the trust and ethos of service And we consider good governance of public resources essen- practiced by all of our Members take the form of entrepreneurial tial, so they can be invested rationally in initiatives that improve the decisions and actions that generate wealth shared with Clients, public’s quality of life and contribute to national development. Partners and the community. The current crisis surrounding politics and the reliability of Therefore, we are now presenting the results our teams ob- the Brazilian state’s institutions and companies has caused im- tained in 2014 objectively through summaries, graphs and num- measurable economic losses to the country, limiting and inhibiting bers, which demonstrate that we have an efficient entrepreneurial essential investments in economic growth. It also directly affects philosophy that has been thoroughly assimilated and transmitted the labor market, due to the suspension of many projects. with alignment between leaders and team members in a wide Therefore, it is urgent to clarify the facts and restructure range of projects in all of the 28 countries where we are present. this country on a solid, transparent and reliable basis. Brazil has a Based on shared values and principles, this unity enables the unique opportunity to revise standards of political conduct and re- decentralization of our operations, the ongoing development of store the credibility of its institutions as well as its business class. people through a planned delegation process, the coexistence of The interests of the Odebrecht Group and the interests of “This unity, based on shared values and generations and partnership between leaders and team mem- society are one and the same. Therefore, along with the commu- bers, thereby ensuring the Group’s perpetuity. That is what gives nity - through its most respected and principled representatives - principles, enables the decentralization of us the strength and confidence to take on challenging times. we propose to build new foundations for the relationship between Clearly, over so many decades, those times have not been the private and public sectors. our operations, the ongoing development few. But we have overcome all kinds of adversity of varying de- Maintaining confidence in people as one of the pillars of its of people through a planned delegation grees of severity. Currently, amid a downturn that has taken hold in entrepreneurial Culture, Odebrecht reaffirms the ethical princi- several parts of the world, we have made significant progress. We ples that have driven its development and bolster frank, direct process, the coexistence of generations have diversified our operations, created new opportunities and, and open dialogue with its Members and families, Clients and above all, provided services and supplied key products - some- shareholders, with the authorities and above all, with the public. with partnership between leaders and times indispensable for the development of regions and countries. The Odebrecht Group will forge ahead alongside the community team members, thereby ensuring the In the last three years, however, Brazil’s GDP growth has been to ensure a fair and productive future in each of the countries in decreasing. Currently, in addition to an economic crisis caused in which we are present. Group’s perpetuity. That is what gives us large part by the imbalance of public finances, the country faces a the strength and confidence to take on political crisis that hampers interactions between the branches of government, especially at the federal level. challenging times.” The heavy construction industry - the one that has suffered Engineer Emilio Odebrecht began his career as an the most damage to its reputation - has a close relationship with intern at Construtora Norberto Odebrecht, becoming the state and public officials because it meets their demand for President and CEO of the company in 1981. He highly complex projects involving a significant amount of re- became President and CEO of the holding company, sources. This relationship intensified in the period when the state Odebrecht S.A., in 1991 and has been the Chairman of could finally make the necessary investments in infrastructure. its Board of Directors since 1998. Odebrecht 2015 13

debrecht has been overcoming highly complex chal- The advantage of our extensive international presence is that lenges for over 70 years. It could not be otherwise more than 70 percent of our revenues are linked to the US dollar, when the world is experiencing a period of political which allows us to obtain better results during a period of fluctuating and economic instability, with negative impacts and exchange rates. Odownward trends in various countries. Brazil, our home country, As a result, Odebrecht companies benefit from the strength of has been the object of special attention, with the necessary fiscal a global organization and the autonomy they need to operate more adjustment imposing a period of stagnation, decline in GDP and efficiently at the local level. In line with our policies, each of them -en downturns in the labor market. hances its sustainability practices, which is an increasingly impera- With the experience, determination and prudence the times tive commitment for the Group. require, Odebrecht is keeping to its permanent Course - Survival, Regarding the environment, year after year we have seen sig- Growth and Perpetuity. As the data in this report will show, 2014 was nificant improvements in eco-efficiency indicators. In the social -are exemplary for our growth. na, our companies and the Odebrecht Foundation in 2014 carried It is worth mentioning the increase, in relation to 2013, of gross out 887 programs that benefited about 1.2 million people in nearly MESSAGE FROM revenue (11%) and EBITDA (23.8%), which allows us to maintain a 2,770 communities. high level of planned investments: BRL 11 billion in 2015 and BRL 34.8 THE PRESIDENT AND CEO billion in the three-year period between 2015 and 2017. Culture, our founder’s greatest legacy The Group’s founder, my grandfather Norberto Odebrecht, Marcelo Bahia Odebrecht Global solidity, local efficiency left us in 2014 at the age of 93. In addition to numerous material Currently the Group has 14 different Business areas in 28 coun- achievements, he left us the values and principles of the Odebrecht tries, each with clearly defined leadership and their own corporate Entrepreneurial Technology, the basis of the humanistic Culture and governance, most of them shared with other Partners. Our culture ethics practiced by our 170,000 Members. It was this Culture that in of decentralization and planned delegation allows each Business to 2014 enabled us to reach 70 years of operations in Brazil, 35 in Peru, rely on an Entrepreneurial Leader (CEO) or Executive Director who 30 in Angola and 10 in Mozambique. In 2015 we will also celebrate the has been groomed and empowered to perform his or her entrepre- 50th anniversary of the Odebrecht Foundation and 25 years of ex- neurial task and exceed the agreed results. The practice of decen- perience in the United States. tralization sets us apart and gives us a strong competitive edge. We Seeking to reaffirm our commitment to our Culture and the are made up of about 300 small businesses working closely with the best practices of corporate governance, we have increased our di- Clients and communities that require their products and services. alogue with our Members and their families, Clients, Partners, inves- Thus, both in Brazil and other countries, our Engineering & Con- tors and various other stakeholders in order to strengthen mutual struction Business has made a significant contribution to improving trust and unity, make our strategies even more clear and transpar- infrastructure in several countries. ent, and help ensure that the current uncertainties are resolved. In addition to Engineering & Construction, we have played a In 2014 we achieved the aim of implementing our Code of “We have increased our dialogue with our major role in the expansion and improvement of public services Conduct in all our business environments as an integral part of our Members and their families, Clients, Partners, such as water supply and sewage treatment. Currently, Odebrecht Compliance Program. We consolidated the Ethics Line channel and Environmental provides these services to the homes of almost 17 designated those responsible for following up on and responding to investors and various other stakeholders in million Brazilians. all matters related to this program. We engaged in extensive training In the field of transport, we serve 3 million users of road, light rail of our teams, and all levels of leadership undertook the commitment order to strengthen mutual trust and unity, and railway concessions through Odebrecht TransPort. to follow the provisions of the Code of Conduct. make our strategies even more clear and In Chemicals & Petrochemicals, via Braskem we are responsi- The political crisis facing Brazil is contributing to the economic ble for the annual production of over 16 million tonnes of basic pet- downturn and a climate of instability. Nevertheless, we are confident transparent, and help ensure that the current rochemicals and thermoplastic resins, which supply the entire chain that with the necessary clarifications and by restoring the credibili- of plastic products in Brazil and other countries. ty of its institutions, Brazil will gradually regain its stability. The Ode- uncertainties are resolved. The Odebrecht We have also been steadily diversifying our Businesses, with brecht Group will continue to follow the ethical legacy of its founder, Group will continue to respect the ethical advances in the sectors of Defense, Retail Distribution and Agribusi- steadfast in its aim of serving and promoting the development of ness, among others. This is possible because the Group is firmly -es individuals, communities and countries. legacy of its founder, steadfast in its aim of tablished, internationally recognized and enjoys solid financial health serving and promoting the development of – a decisive factor during a global economic downturn. In 2014, we strengthened our presence in Latin America, with Marcelo Bahia Odebrecht began working at Odebrecht individuals, communities and countries.” projects in 10 countries in that region, as well as in Africa, particular- in 1992, shortly after graduating in Engineering. In ly Angola, Mozambique and Ghana. In Mexico, through Braskem, we 2002, after working on several projects in Brazil and are investors in the largest private project underway in that coun- other countries, he took the helm of the Engineering & try, construction of the Ethylene XXI complex for the production Construction Business. He became President and CEO of polyethylene. That year we also worked on major infrastructure of Odebrecht S.A. in 2008, and remained in that role until projects in the United States, Portugal and the United Arab Emirates. December 2015. This message was written in May 2015. Odebrecht 2015 15

Ethylene XXI, The largest petrochemical complex in Latin America, The project, a partnership comes into of Braskem with the being in Mexican group Idesa, will Mexico produce over 1 million tons of polyethylene yearly. It is currently the biggest private investment in Mexico and the largest ever made by a Brazilian company in that country. Odebrecht 2015 17

The port Thanks to the Wharves of Miami in Reinforcement Program Florida, one of carried out by Odebrecht the largest in Engineering & Construction the world, was International in the United thoroughly States the Port of Miami upgraded is now able to welcome super freighters sailing to the American West Coast through the new widened Panama Canal. Odebrecht 2015 19

Sugar and alcohol plants: ODEBRECHT With a capacity to GROUP operates process 3.8 million in many fields tons of sugar cane, and invests in the Costa Rica Unit sustainable (MS), one of the nine development plants of Odebrecht Agroindustrial, produces about 360 million liters of ethanol and 380 GWh of electric power. Odebrecht 2015 21

Lima electric train, the Conceived almost 30 years ago, solution for the project was successfully transit in the concluded in 2014 by Odebrecht metropolitan Engineering & Construction region of International, in Latin America. the Peruvian The train is operated by capital Odebrecht Latinvest and travels through 12.4 km of overpasses and 10 stations in nine densely populated districts, serving 300 thousand passengers daily. Indicators 2014 Odebrecht 2015 23

2014

BRL 14,879 FINANCIAL INDICATORS USd 6,322

In 2014 Odebrecht Group reached Ebitda significant results, such as an (IN MILLIONS) increase of 30% in EBITDA and 11% in gross income over 2013. 2013

BRL 11,418 USd 4,874

2012

Ebitda 2011 2010 (IN MILLIONS) BRL 8,087 USd 3,957 BRL 7,056 BRL 6,224 USd 3,792 BRL 14,879 USd 3,735 USD 6,322

per Business

37.8% Braskem 21.2% ENGINEERING & CONSTRUCTION 10.7% Odebrecht Agroindustrial 8.1% Odebrecht OIL & GAS 4.9% Odebrecht ENVIRONMENTAL 2.8% Odebrecht Transport 2.4% Odebrecht Latinvest 2.3% ODEBRECHT REAL ESTATE DEVELOPMENTS 0.6% Enseada SHIPBUILDING 9.2% Other

NOTE: Throughout this Report, the average annual value of the US dollar was taken into account (US$1.00 = R$2,3536) for the information on results achieved (Revenue, EBITDA and VAR (Value Added Report). In the historical series of EBITDA the rates of the last day of each of the previous years mentioned (2010,2011,2012 and 2013) were taken into consideration. For the value of assets and net worth of the GroupGroup the rate on December 31 2014 was used (US$1.00 = 2,6562). The figures for the years 2010, 2011 and 2012 (reproduced) are in accordance with the norms of The Committee on Accounting Statements (CPC). Indicators 2014 Odebrecht 2015 25

Value Added Statement

in THOUSANDS IN thousands o OF BRL of usd

FINANCIAL INDICATORS Revenue 109,594,013 46,564,417

Revenue from sales and services 107,678,903 45,750,723 Other revenue 2,002,931 851,007 Allowance for loan losses – reversal (provision) (87,821) (37,314) NET PROFIT Odebrecht S.A. Shareholder’s Equity (IN MILLIONS) (IN MILLIONS) Inputs Purchased from Third Parties

Costs of products, goods and services (68,806,422) (29,234,544) Raw materials, Energy, Outsourced services and Other (7,850,128) (3,335,370) BRL 498 BRL 17,071 Recovery (loss) of assets 3,431 1,458

USD 211 USD 6,427 Gross Value Added 32,940,894 13,995,961

Depreciation and amortization (5,025,641) (2,135,299)

Net Value Added Produced 27,915,253 11,860,661

Value Added Received from Others

Results of equity (1,894,352) (804,874) Reversal (provision) for loss in investments (81,955) (34,821) Financial revenue 5,583,010 2,372,115 GROSS REVENUE Other 254,347 108,067 (IN MILLIONS) TOTAL VALUE ADDED FOR DISTRIBUTION 31,776,303 13,501,148

BRL 107,679 DISTRIBUTION OF VALUE ADDED

People 14,197,133 6,032,092 USd 45,751 Direct Remuneration 12,454,528 5,291,692 Benefits 1,204,373 511,715 FGTS (Length of Service Guarantee Fund) 538,232 228,684

per business Taxes, tariffs and contributions 3,536,300 1,502,507 Federal 2,540,706 1,079,498 49.3% Braskem State 485,797 206,406 30.8% ENGINEERING & CONSTRUCTION Municipal 455,222 193,415 3.1% Odebrecht Agroindustrial Other 54,575 23,188 3.1% Odebrecht TransPort

2.8% Enseada Indústria Naval Return on Third-Party Equity 13,545,311 5,755,146 2.7% Odebrecht OIL & GAS Interest 12,320,413 5,234,710 2.6% Odebrecht ENVIRONMENTAL Rent 1,126,774 478,745 2.1% Odebrecht Latinvest Other 98,124 41,691 1.9% ODEBRECHT REAL ESTATE DEVELOPMENTS

0.1% ODEBRECHT DEFENSE & TECHNOLOGY Return on equity (Shareholders) 497,559 211,403 1.5% Other Dividends 102,298 43,464 Accrued Profit 663,693 281,990 Non-controlling shareholders’ share in income (268,432) (114,052)

DISTRIBUTION OF VALUE ADDED 31,776,303 13,501,148 Indicators 2014 Odebrecht 2015 27

2.4% increase in female participation 2013 in relation to the previous year. Members 2014 by gender 2012 286,799 People 85% Men 276,224 15% Women Odebrecht Group 268,564

The positive figures achieved in 2014 resulted from the work of diverse and qualified teams, both in terms of gender and of national origin.

Members by nationality

64% BRAZILIANS 36% OTHER NATIONALITIES

107,714 Brazilians 11 Ukranians 14,992 Mexicans 9 Italians 11,715 Angolans 9 Canadians 8,757 Peruvians 8 Hondurans 6,025 Ecuadorians 7 Belgians 4,888 Venezuelans 5 Lebanese 3,993 Colombians 5 Turks 3,150 Panamanians 4 Australians 1,541 Dominicans 4 Japanese 1,271 North-Americans 4 Costa Ricans 1,184 Argentines 3 Russians 633 Mozambicans 3 Egyptians 595 Guatemalans 3 Lithuanians 258 Portuguese 3 Chinese 149 Haitians 3 Nigerians 142 Germans 3 Syrians 139 Pakistanis 3 Iraqis 136 Bolivians 2 Jordanians 119 Indians 2 Austrians 113 Paraguayans 2 Palestinians 181,556 112 Philippines 2 Principese Members 85 Nepalese 2 Vietnamese 49 Sinhalese 2 Irish 168,149 43 Cubans 2 Norwegians 105,243 Members 33 Spaniards 2 Jamaicans 175,031 Third parties 32 French 2 Trinidadians Members 30 Chileans 1 Korean 108,075 28 Salvadorans 1 Cape-Verdean Third parties 26 Dutch 1 Antiguan 93,533 21 Croats 1 Arab Third parties 21 English 1 Singaporean 20 Poles 1 Mauritanian 16 Nicaraguans 1 Tunisian 16 Ghanaians 1 Congolese 16 South Africans 1 Scot 15 Uruguayans 1 Thai 14 Libyans 1 Iranian 11 Romanians 1 Puerto Rican

BRAZILIAN ENGINEER JULIA MONTEIRO MARTINS, FROM CONSTRUTORA NORBERTO ODEBRECHT, RESPONSIBLE FOR SUSTAINABILITY AT MARACANÃ STADIUM Indicators 2014 Odebrecht 2015 29

People Odebrecht Group

The international operations of Odebrecht Group promotes the integration of families from several cultures in different regions.

ASH VIJA YKUMAR, FROM INDIA, AND YUNWEI TONG, FROM CHINA, MEMBERS OF ODEBRECHT Engineering & Construction International IN THE UNITED STATES

MEMBERS PER BUSINESS Members by countries

Odebrecht Engineering & Construction International 66,799 106,087 3,939 567 Construtora Norberto Odebrecht in Brazil in Colombia in United Arab Emirates 40,776

Odebrecht Agroindustrial 13,456 14,933 3,458 566 ENSEADA SHIPBUILDING in Mexico in Panama in Mozambique 8,413

Braskem 8,126 12,822 1,596 275 ODEBRECHT REAL ESTATE DEVELOPMENTs in Angola in Dominican Republic in Ghana 7,332

Odebrecht ENVIRONMENTAL 6,518 8,813 1,587 162 Odebrecht TransPort Members in Peru in United States in Germany 6,165 by age range Odebrecht OIL & GAs 5,816 6,077 1,411 59 Odebrecht Latinvest in Ecuador in Argentina in Portugal 2,408

Odebrecht DEFENSE & TECHNOLOGY 1,672 4,966 638 52 Odebrecht S.A. in Venezuela in Guatemala in Cuba 641 14% Under 25 ODEBRECHT FOUNDATION 40% Between 25 and 35 37 25% Between 35 and 45 141 18% Between 45 and 60 in other countries 4% Over 60 Indicators 2014 Odebrecht 2015 31

People Investment in institutional programs Development BRL 64,330,228 Programs USd 24,218,894

The Odebrecht Group develops in direct correlation to the development of each person who is a part of it. Therefore, among the Group leaders’ tasks is Education through Work for those who comprise their teams, devoting their time and attention – whether interns or young partners – and supporting them with their choices and challenges.

Education for Work

The aim of the Education for Work programs is to provide members with opportunities to increase and perfect their knowledge and skills. They are technical education programs, directed towards those who work in operational areas; and strategic programs to enhance skills and broaden multidisciplinary knowledge.

Small Firm Leaders Young Partners/Trainees Interns

1,695 1,722 1,497 1,109

EMILIO ODEBRECHT (FAR LEFT), CHAIRMAN OF THE BOARD OF ODEBRECHT S.A., WITH PARTICIPANTS IN THE PROGRAM FOR DEVELOPING ENTREPRENEURS (PDE)

337 300 2013 2014

Interns taken on: 367 vacancies were available for Young Partners, with 52% filled by former interns. Indicators 2014 Odebrecht 2015 33

Acreditar Program Acreditar Junior Program

Odebrecht interacts with the local Created to support young people population in each region where it between the ages of 14 and 17 for the operates, offering opportunities for job market, the Acreditar Junior Program work and income and improving quality offers preparation to students who are of life. The Acreditar (Believe) Ongoing studying at elementary school as a Professional Education Program was minimum. They have the opportunity to one of the Group’s initiatives to increase be hired under the terms of the Young the employment of workers from Apprentice Law. communities surrounding their projects. Literate men and women over the age of 18 have the opportunity to qualify for professions through Acreditar and work 4,251 Enrolled in the Group. Highly successful in Brazil, the Program was reproduced in nine 3,034 Hired countries, directly benefiting more than 100,000 people. (OBS: The numbers refer to the figure accumulated since the creation of the program in 2008 until December 2014) Brazil 131,464 Enrolled

55,634 Partnerships Basic Module with Universities 19,494 and Educational Technical Module and Research IN ANGOLA, TRAINING OF MEMBERS OF BIOCOM (ODEBRECHT AGROINDUSTRIAL) WITH TECHNICIANS FROM THE BRAZILIAN NATIONAL SERVICE OF INDUSTRIAL APPRENTICESHIP (SENAI) 35,692 Institutions Hired

Number of members on institutional programs Odebrecht Group companies maintain Abroad a partnership with 39 51 38 149 universities and Master of Business Administration (MBA) Entrepreneurship Program (PPE) Fipecafi T11 55,479 educational and research Enrolled institutions, with 52 in 62 49 34 32,572 Brazil and 97 in other Program for Developing Entrepreneurs PPE Master Integrated Sustainability Basic Module countries. (PDE) in the Service Area Program (PI) 6,172 34 Technical Module 45 Institute for Accounting, Actuarial 95 PDE in the Industrial Area and Financial Research Foundation Integrated Planning and 17,610 (Fipecafi) T10 Budgeting (POI) Hired

(OBS: The numbers refer to the figure accumulated since the creation of the program in 2008 until December 2014) Indicators 2014 Odebrecht 2015 35

Encouraging Productivity, Creativity and Production and Knowledge Reuse

Odebrecht Award Knowledge Communities for Sustainable Development In addition to promoting the generation, WINNERS OF THE 2014 HIGHLIGHT AWARD IN THE INNOVATION CATEGORY: ROBERTA ALVES PEREIRA, RAFAEL DE OLIVEIRA E ADRIANO DO NAZARETH PESSANHA , FROM ODEBRECHT OIL & GAS dissemination and knowledge reuse The award encourages college students that the Odebrecht Group companies (undergraduates) to think about produce, the Knowledge Communities Communities Engineering, Architecture and Agronomy strengthen mainstreaming and from a sustainable perspective and encourage innovation and productivity. Contract Management Highlight Award 2014 Edition produce knowledge on the subject. They bring together 7,624 Members with Agribusiness »» 692 project entries by Members from common interests who are interested in Dams and Power Plants Odebrecht teams are encouraged to 13 countries and all of the Group’s In 2014 sharing their expertise. Communication increase their creativity, productivity Businesses. »» Held in Angola, Argentina, Brazil, Buildings and innovation and reuse the knowledge »» Categories: Innovation, Young Partners, Colombia, Cuba, Dominican Republic, In 2014 Real Estate Ventures generated through their work Environment, Community Relations, Ecuador, Mexico, Panama, Peru, the »» 1,895 new entries Environmental Engineering experience. Awarded to the Group’s Knowledge Reuse and Health and United States and Venezuela. »» 1,200 Members trained in meetings Equipment Members annually, the Highlight Award Workplace Safety. »» 643 projects submitted. of the Communities or in Programs of Subsea Infrastructure encourages this practice, reinforces the »» Participating Countries: Angola, »» Involved 1,194 students and 526 specific Technical Capacitation deriving User-Client Relations culture of recording and disseminating Argentina, Brazil, Colombia, Ecuador, professors from 251 universities. from detected gaps in their formation. Roadways knowledge, consolidating a unified Guatemala, Mexico, Mozambique, »» 620 web forums generated 1,443 Engineering Systems archive of the Group’s methods, Panama, Peru, The United States, interactions. Procurement and Logistics processes and creative solutions. Today United Arab Emirates and Venezuela. Sustainability this initiative results in an acquis of 4,964 Information Technology best practices, which is available to all of Rail Transportation the Members. Indicators 2014 Odebrecht 2015 37

1 - TFT adds together basic outpatient care with the frequency rates for accidents with or without lost time. The Workplace indicator for Braskem does not include basic outpatient care. 2 - TFCA – Lost Time Accident Frequency Rate: relation between the number of with lost time, fatality, partial disability Safety Indicators and total disability per 1 million manhours worked (Members + Subcontractors). 3 – Odebrecht Engenharia & Construção consolidates data from Construtora Norberto Odebrecht and from Odebrecht Engineering & Construction International 4 – Period from April 2014 to January 2015 (criteria: harvest Health, Workplace Safety year). Total Accident Frequency Rate (TFT)1 and the Environment 17.1 Lost-time Accident Frequency Rate (TFCA)2 The Health, Workplace Safety and Environment programs are 13.8 held in an integrated way and prioritize the protection of life 13.1 and quality of the work environment. Based on the culture of prevention by controlling risks and impacts, ensuring 11.14 compliance with legal requirements and alignment with the 9.49 Group’s Sustainability Policy. 9.28 In the work environment, the same values and programs guide Members and suppliers. 7.14 6.24 6.33

4.69 5.03

3.15

1.04 1.04 1 2.05 1.58 1.39 0.35 0.39 0.14 2.19 3.69 2.21 0.91 0.94 1.4 3.26 2.04 2.09

2012 2013 2014 2012 2013 2014 2012 2013 2014 2012 2013 2014 2012 2013 2014

Odebrecht Braskem Odebrecht Environmental Odebrecht Agroindustrial4 Odebrecht TransPort Engineering and Construction3

20.9 20.08 19.15

13.62

11.5

9.74 8.67

6.45 5.79 5.12 4.8 4.35 4.07

1.16 0.86 0 1.67 0.89 0.49 0.55 0.58 1.96 0.8 3.02 5.59 3.5

2012 2013 2014 2012 2013 2014 2012 2013 2014 2012 2013 2014 2012 2013 2014

Odebrecht Latinvest Odebrecht Enseada Shipbuilding Odebrecht Oil & Gas Odebrecht Defense and Technology Real Estate Developments Indicators 2014 Odebrecht 2015 39

AT ODEBRECHT REAL ENVIRONMENTAL MANAGEMENT AT ODEBRECHT ESTATE DEVELOPMENTS »» Recycled 21.83% (55,916.23 tonnes) of DEFENSE AND TECHNOLOGY the total amount of waste generated MANAGING GREENHOUSE GAS (GHG) by all ventures, not including waste »» Itaguaí Construções Navais, the EMISSIONS generated from the soil. Odebrecht Defense and Technology »» Conducting the third GHG emission »» Used 27,588.17 cubic meters of reused subsidiary that builds submarines inventory for the 28 ventures under or recycled water, equivalent to 16.5% for the Brazilian navy, recycled 388.3 construction and six regional offices, of the total consumed by all ventures. tonnes (62%) of the 622.4 tonnes of using the GHG Protocol method and »» Invested BRL 5.9 million in solid waste generated. ISO Standard 14.064-1. environmental preservation projects.

Environmental Engineer Diego Santos Cícero de Sá at the nursery of the Teles Pires Hydroelectric Plant Environmental Program being carried out by Construtora Norberto Odebrecht, in Mato Grosso, Brazil

Environmental IN ENGINEERING & CONSTRUCTION Environmental Management »» 301,000 of the 572,500 tonnes of Indicators MANAGING GREENHOUSE GAS (GHG) solid waste generated were reused or EMISSIONS recycled. »» Inventory of all 69 projects in Brazil and »» 90% of projects implemented waste 99 projects in 16 other countries. sorting and solid waste recycling »» Obtained a Gold Seal in the Brazilian programs. GHG Protocol Program. »» 87% of projects carried out environmental education programs. »» 25% of projects adopted rational water use practices, saving 1.5 million cubic meters.

168 projects 53% of solid waste inventoried in 2014 recycled or reused in 2014

2010 117 2010 28% 2011 135 2011 50% 2012 164 2012 74% 2013 165 2013 52% 2014 168 2014 53%

WASTE IS RECYCLED OR REUSED AT ILHA PURA, AN ODEBRECHT REAL ESTATE DEVELOPMENTS PROJECT IN , BRAZIL Indicators 2014 Odebrecht 2015 41

AT ODEBRECHT OIL & GAS MANAGING GREENHOUSE GAS (GHG) ENVIRONMENTAL MANAGEMENT EMISSIONS »» Recycled 14.75% (645.96 tonnes) BRL 2.3 million invested in waste »» For the first time, the GHG inventory of the total amount of solid waste management, environmental monitoring, included scope 3, on remissions from generated by all ventures. training, campaigns, consultancy, audits and sources that are not owned by or »» Recycled 44.3% (1,006,613 liters) of environmental certifications. controlled by the company. the total oily liquid waste generated by »» Planted saplings and restored its ventures, except the Cidade de Itajaí three water sources (a total of 2.33 FPSO, whose waste management is hectares) to offset carbon emissions handled by the Client (). in 2013.

UNIB RS, BRASKEM’S NAPHTHA CRACKER IN TRIUNFO, BRAZIL, INVESTS IN IMPROVING ENERGY EFFICIENCY

AT BRASKEM ENVIRONMENTAL MANAGEMENT »» Two grades of the Maxio line of »» Braskem achieved 28% water reuse, plastic resins were launched, enabling BRL 86 million invested in environmental of which 61% came from Aquapolo, Braskem clients to increase their improvement. a water recycling project carried productivity and energy efficiency. out in partnership with Odebrecht Since the launch of that line in 2012, MANAGING GREENHOUSE GAS (GHG) Environmental and Sabesp in the sales are up 27%. EMISSIONS ABC region of São Paulo State. This »» Braskem was nominated for inclusion »» Reduced GHG emissions by 12.5% enabled the company to reduce in the list of the 50 most innovative between 2008 and 2014. consumption of water from reservoirs companies in the world according »» The Braskem greenhouse gas by 18.7 billion liters. to the ranking of Fast Company, a emissions inventory obtained a Gold »» Energy consumption at all Braskem business magazine, in recognition of its classification in the GHG Protocol for manufacturing plants improved by research into products with renewable the 5th consecutive year. 0.7% compared with the previous year. sources, Green Polyethylene. »» It attained a score of 97% for »» Waste generation in all of Braskem’s transparency and level “B” for results operations was 4.5% higher than the in the Brazil Carbon Project’s CDP previous year and waste recycling Investor Brazil report. reached 26.8%, representing a 63% »» Braskem forms part of the ISE improvement in relation to 2013. The (Entrepreneurial Sustainability Index) savings obtained by recycling totaled portfolio for the 10th consecutive year, approximately BRL 53 million. with a higher than average score in the »» 34% improvement in wastewater portfolio and benchmark position in generation between 2002 and 2014. climate change.

CIDADE DE ITAJAÍ FPSO IN THE SANTOS BASIN, BRAZIL: ODEBRECHT OIL & GAS CONDUCTED ITS FIRST GHG INVENTORY IN 2014 Indicators 2014 Odebrecht 2015 43

AT ODEBRECHT AGROINDUSTRIAL

PRESERVING BIODIVERSITY »» A Diagnosis of Environmentally Protected Areas was carried out at all nine agroindustrial units »» By the 2013-2014 harvest, the company had restored 5,740 hectares of Permanent Preservation Areas BRAZILIAN LAB TECHNICIAN NAYARA CARDOSO RAPELO, FROM ODEBRECHT ENVIRONMENTAL, ANALYZES WATER QUALITY IN SUMARÉ, SÃO PAULO, BRAZIL (APP), 32,025 hectares of Legal Reserves (RL), 20 hectares of ecological corridors and 559 hectares AT ODEBRECHT ENVIRONMENTAL AT ENSEADA SHIPBUILDING of other areas through Degraded Area Recovery Plans (Prads). Invested BRL 6.4 million in Environmental »» Replanted 44 hectares of riparian »» In the last seven years, more than Protection in 2014. vegetation, preserving rivers and 1.5 million native tree species water that supply the town of were planted in partnership with ENVIRONMENTAL MANAGEMENT Maragojipe, Bahia, Brazil. environmental entities in São Paulo »» Using 3 million m³ of recycled or »» Replanted 14 hectares of Atlantic State. reused water in internal processes Forest within Enseada Shipbuilding’s »» Restored and connected over 780 (41% of internal water consumption). area of activity. hectares of RLs and APPs involving »» Reuse and recycling of 23% of »» Built 25 km of fences and a monitoring 82 native Atlantic Forest plant waste generated in the company’s system in restored Permanent species. Thanks to two new corridors, administrative sectors. Protection Areas (APP). connectivity of forest fragments has »» Consumption of 0.25kWh/m³ of »» Built three biofactories producing reached a total of 295.85 hectares. treated waste in the Water and 50,000 native Atlantic Forest plant Sewage segment. seedlings and 40,000 native mangrove MANAGING GREENHOUSE GAS (GHG) »» Consumption of 0.66 kWh/m³ seedlings. EMISSIONS of water produced in the Utilities »» More than 90 Environmental Education »» Conducting the second review of GHG segment. activities held, with participation by emissions throughout the life cycles of »» Emission of 0.92 kg of CO2eq per m³ of 1,800 people. all its products, particularly ethanol, for treated waste. the 2013-2014 harvest.

AT GOIÁS, A PARTNERSHIP BETWEEN ODEBRECHT AGROINDUSTRIAL AND EMAS NATIONAL PARK ENSURES THE PRESERVATION OF132 THOUSAND HECTARES OF THE NATURAL PATRIMONY Indicators 2014 Odebrecht 2015 45

Voluntary Social Investment in Communities

Social/Environmental 844 and Cultural Indicators Programs Programs/Initiatives Investment BRL) of (in thousands Beneficiaries Communities Determined to contribute to the development of regions and countries in which it operates, the Odebrecht Group systematically promotes social and 14 cultural activities. Carried out by companies and the Odebrecht Foundation, Countries Brazil 637 98,576 846,018 1,027 the programs focus on the areas of education and health and also seek to promote initiatives that generate work and income opportunities. Angola 32 8,103 12,783 119 1,916 Argentina 1 14 40 1 Communities involved Colombia 3 1,085 3,498 18

1.1 million Dominican Republic 9 473 7,469 25

Beneficiaries Ecuador 11 241 5,005 40

Guatemala 5 57 1,066 28 1,034 Partner Organizations Mexico 8 1,351 10,337 62

Mozambique 3 42 456 4

BRL 115.9 million Panama 43 1,113 47,202 125

USD 49.2 million Peru 47 3,621 81,351 285 Own Investment United Arab Emirates 2 3 656 1 BRL 86.8 million United States 18 202 55,320 13 USD 32.7 million Venezuela 25 984 6,806 168 Third-Party Investment Total 844 115,866 1,078,007 1,916

GERSON COSTA (STANDING, RIGHT) WITH HIS WIFE CATARINA CONCEIÇÃO AND SON EDILSON DOS SANTOS CLEMENTE: LEADING FIGURES IN THE REFORESTATION OF THE LOWER SOUTH OF BAHIA, BRAZIL, SUPPORTED BY ODEBRECHT FOUNDATION Indicators 2014 Odebrecht 2015 47

Cultural Action

Odebrecht has sponsored projects to a greater understanding of Brazilian Rondônia. Discovered by the authors which value the cultural heritage of the economic, social and political or artistic at Newberry College Library in Chicago communities and countries in which education. Aiming to encourage national (USA), the young Portuguese soldier it operates for more than fifty years. history writing, Odebrecht fully funds the gave rise to this detailed research on Allocating resources and appropriate completion of the chosen project. The the region and the historical context conditions to carry out these cultural knowledge generated is consolidated in a of the struggle between Portugal and projects, the company encourages carefully edited and richly illustrated book. Spain for the control of Brazilian land in preservation and advance of memory, »» Book launch for “Luís de Abuquerque the second half of the 18th century. contributes to giving dynamism to – Government and journeys in the »» Research began to produce two projects cultural life and promotes the affirmation Captaincy of Mato Grosso (1771-1791)” which were winners of the 10th edition of diverse identities and celebration of by the historians Janaína Amado and of the Odebrecht Historical Research universal values. Leny Caselli, winners of the 9th edition Prize: ”A hinterland among so many of the Prize. The book portrays the others” by the architect, Nathalia Odebrecht Historical Research – trajectory – from 1771 to 1791 – of the Diniz, from Rio Grande do Norte and Clarival do Prado Valladares Prize captain-general, Luís de Albuquerque, “Scientific Knowledge of the Portuguese Established in 2003, the Odebrecht who was governor of the Captaincy World during the 18th Century” by the Historical Research – Clarival do Prado of Mato Grosso, whose territory historians, Magnus Roberto de Mello Valladares Prize is awarded annually to included the current states of Mato Pereira and Ana Lúcia Rocha Barbalho a research project which contributes Grosso, Mato Grosso do Sul and da Cruz, from Paraná.

ARGENTINE AUTHOR ALBERTO MANGUEL, AT FRONTIERS OF THINKING SEMINARS 2014

Frontiers of Thinking Other initiatives »» Production by Enseada Shipbuilding of a collection of books with stories told Seeking to promote debate and analyze Brazil in quilombos and the distribution of current day events from perspectives for »» Sponsoring the book “The Challenges 7,000 copies in public schools and at the future, Braskem annually sponsors of Brazilian Sustainable Design” which quilombo communities. international Frontiers of Thinking presents sustainable projects and seminars, enabling the Brazilian public to products created by more than 40 Argentina come into contact with leading scientists, Brazilian professionals from different »» Sponsoring the book “Pure Energy” artists and intellectuals around the world. areas – visual arts, fashion and highlighted in the Mercury Awards, one In 2014, the program’s speakers included architecture, among others. of the main communication awards the British writer, Salman Rushdie, »» Publication of the book “Submarines around the world, with first place in the American philosopher, Michael Sandel, – Defense and Development of Brazil“ Customized Publications category – writers Mia Couto from Mozambique on the Brazilian Navy’s Submarine General Audience - Engineering. and Ricardo Piglia from Argentina, Development Program. physicists Brian Greene from the United »» Braskem’s sponsorship of the sixth Peru States and Geoffrey West from England, edition of the Paulínia Film Festival, »» Launch of the first volume of a French philosopher, Pascal Bruckner and showing Brazilian and international collection of art books “Living Route Norwegian diplomat, Gro Brundtland. films, and including debates and IIRSA North”, with photos and texts workshops in the town of Paulínia (SP). displaying the cultural wealth of the »» Support for the International Literary cities which skirt the highway. Festival in Cachoeira – Flica 2014 (BA). Odebrecht 2015 49

BUSINESSES

The Odebrecht Group includes several Businesses, Investment Funds and Support Companies. The following pages present specific information about each of them as well as the Odebrecht Foundation, which develops a number of social outreach programs.

CONSTRUCTION OF THE CHAGLLA DAM IN PERU, AN IMPORTANT ODEBRECHT ENGINEERING & CONSTRUCTION INTERNATIONAL PROJECT IN LATIN AMERICA

CONSOLIDATED FIGURES FOR ENGINEERING & CONSTRUCTION

www.odebrecht.com GROSS REVENUE ODEBRECHT ENGINEERING & CONSTRUCTION IS (IN MILLIONS) A NON-OPERATING HOLDING COMPANY THAT CONSOLIDATES CONSTRUTORA NORBERTO BRL 33,140 ODEBRECHT (ACTIVE IN BRAZIL) AND ODEBRECHT USd 14,081 ENGINEERING & CONSTRUCTION INTERNATIONAL (ACTIVE IN LATIN AMERICA; THE UNITED STATES; AND SHAREHOLDING STRUCTURE AFRICA, THE UNITED ARAB EMIRATES AND PORTUGAL, Ebitda AS WELL AS SPECIFICALLY IN THE INDUSTRIAL (IN MILLIONS) ENGINEERING SEGMENT).

BRL 3,157 100% USd 1,341 Odebrecht Engenharia & Construção S.A. Odebrecht 2015 51

CONSTRUTORA AWARDS AND RECOGNITION »»Most Admired Company in Brazil, NORBERTO ODEBRECHT for the 10th consecutive year, in the Heavy Construction category, from Carta Capital magazine. »»Best contractor for the 5th consecutive year, from Revista PROVIDES ENGINEERING & CONSTRUCTION “Guaranteeing our Survival, Growth and Ferrofiária. SERVICES IN BRAZIL THAT BENEFIT THE PUBLIC IN Perpetuity translates as our ability to deliver »»Ranked among the Best AREAS SUCH AS TRANSPORTATION AND LOGISTICS, our Clients’ dreams on time with quality Companies for Communication ENERGY, SANITATION (WATER & SEWER), URBAN while always promoting sustainability. To with Journalists, by Negócios da DEVELOPMENT, MINING AND BUILDINGS FOR PUBLIC do so, we need to increase productivity and Comunicação magazine. AND CORPORATE USE. pursue innovation.”

Benedicto Junior ENTREPRENEURIAL LEADER (CEO)

COMPLETED PROJECTS »» Corinthians Arena, SP, Brazil »» Main Hall for Prosub, Shipyard and SHAREHOLDING STRUCTURE »» Revitalization of the Barra oceanfront Naval Base, RJ, Brazil. area in Salvador, BA, Brazil »» Petrópolis Group factory, PE, Brazil CONTRACTS AWARDED »» Federal District Administrative Center, Brasilia, DF, Brazil »» New Joá Elevated Highway, RJ, Brazil »» Expressway – Atlantic Route, PE, Brazil »» School Factory, RJ, Brazil 100% » Barra do Furado 2 Logistical and » TransBrasil BRT Corridor, RJ, Brazil Odebrecht Engenharia & Construção S.A. » » Industrial Complex, RJ, Brazil »» Guandu Treatment Plant, RJ, Brazil 1 share »» Urban Development near Maracanã »» Refurbishing and Expansion of Rio de Odebrecht S.A. Stadium, RJ, Brazil Janeiro International Airport, RJ, Brazil »» Morro da Providência Cable-Car »» Flood Mitigation in North Northwest of System, RJ, Brazil Rio de Janeiro State, RJ, Brazil »» Bairro Novo Terra Nova – Nova »» Praia Grande Outfall, SP, Brazil HIGHLIGHTS IN 2014 Friburgo Housing Units – Phase 2, RJ, »» Itaipaúna Bridge, SP, Brazil Brazil »» Line 6 of the São Paulo Metro, SP, Brazil Construtora Norberto Odebrecht seeks »» Bairro Novo Trio de Ouro – São João de »» Housing Units in São Bernardo do to promote sustainable development in Meriti Housing Units, RJ, Brazil Campo, SP, Brazil the regions where it is active. In 2014, »» Bairro Novo Alemão – Complexo do »» Erection of Angra III Nuclear Power it recycled 60% of the solid waste Alemão Housing Units, RJ, Brazil Plant, RJ, Brazil produced at its jobsites, obtained the gold »» Arco Metropolitano Highway, RJ, Brazil »» Lauro de Freitas Beltway, BA, Brazil seal for its GHG emissions inventory and »» Metal Overpasses for Arco supported the implementation of over 50 Metropolitano, RJ, Brazil social outreach programs benefiting 183 »» Maracanã Multimodal Station, RJ, Brazil communities with over 13,000 members. »» Capivari Water & Sewer Project – Lot 2, S P, B ra z i l

TELES PIRES DAM, A CONSTRUTORA NORBERTO ODEBRECHT PROJECT ON THE STATE LINE OF PARÁ AND MATO GROSSO, BRAZIL, WILL GENERATE UP TO 1,820 MW Odebrecht 2015 53

AFRICA, UNITED ARAB EMIRATES & PORTUGAL LATIN AMERICA UNITED STATES INDUSTRIAL ENGINEERING & CONSTRUCTION AWARDS AND RECOGNITION

Engenharia & Construção Internacional »»Best Civil Engineering Design for Laúca Dam from FILDA – Feira Internacional de Luanda, in Angola. »»One of the best companies to work for according to the Great Place to Work Institute in Argentina and Mexico. »»Best Company of the Year and Best Company in the Industry, according to Revista Fortuna ODEBRECHT “We are confident that “Our future in Latin America will “Our presence in the United States “Our priority for 2015 is (Argentina). our teams’ capacity for be anchored in local Leaders in the last 25 years has made a growing and consolidating »»Best engineering and construction ENGINEERING & achievement, allied with the and Members who will identify positive contribution to the Group our operations outside Brazil. company in Colombia, according to Group’s principles, will be us more and more with their and its global image. We will To do so, we will rely on a new The Business Year. CONSTRUCTION key to growth in Africa, the own values and beliefs and the continue building and growing generation of entrepreneurs »»Awards from ENR (Engineering UAE and Portugal” cultural and ethnic diversity that while always practicing sustainable who are adept at cultural News-Record) magazine for the INTERNATIONAL distinguishes their countries” development” adaptation and mobility” Wharves Strengthening Program in Ernesto Baiardi the Port of Miami and the Pumping C E O Luiz Mameri Euzenando Azevedo Flávio Faria Stations in New Orleans, in the C E O C E O C E O United States. »»Palma de Oro Award from Panama’s National Environmental Agency for GHG emissions PROVIDES ENGINEERING & HIGHLIGHTS IN 2014 HIGHLIGHTS IN 2014 HIGHLIGHTS IN 2014 HIGHLIGHTS IN 2014 inventories. CONSTRUCTION SERVICES FOR INFRASTRUCTURE AND INDUSTRIAL »» Construction of the Laúca Dam, the »»Nine new contracts, including the »» Completion of elevated runway at Fort »» Completion of 60 km of gas pipelines PROJECTS IN LATIN AMERICA (EXCEPT Lobito Refinery and the Cambambe Bocas del Toro Dam (Panama) and gas Lauderdale International Airport in and compression plant for Cammesa; BRAZIL) IN THE UNITED STATES, Dam, and the Luanda BRT project pipelines: Sur Peruano (Peru) and Los Florida. dismantled the Coke Unit at the La AFRICA, UNITED ARAB EMIRATES AND (Angola). Ramones II Norte (Mexico). »» Finalization of the Wharves Plata Refinery for YPF (Argentina). PORTUGAL, SERVING PUBLIC-SECTOR »» Conclusion of the expansion of the »»Completed 12 projects, including the Strengthening Program in the Port of »» Conclusion of the Guanare Sugar AND PRIVATE-SECTOR CLIENTS. Moatize coal mine and the opening (Peru) and the Port of Miami, Florida. Complex and contract for Carito Pirital »» Contracts for Sur Peruano Gas Pipeline IT CREATES WORK OPPORTUNITIES of the Nacala International Airport Mariel (Cuba). »» Awarded the contract for the Krome Gas Compression Plant: Phase II for (Peru) and Punta Catalina Thermal FOR THE LOCAL COMMUNITIES AND Terminal (Mozambique). »»Continued working on 37 other Avenue Expansion project in Miami. PDVSA Agrícola (Venezuela). Power Plant (Dominican Republic). CONTRIBUTES TO THE SUSTAINABLE »» Broke ground for the Eastern Corridor projects, such as the Punta Catalina »» Projects at Miami International Airport. DEVELOPMENT OF ALL THE REGIONS Road and signed contracts for the Thermal Power Plant (Dominican »» Completion of over 65% of the Grand WHERE IT IS ACTIVE. Central Corridor Road and Western Republic), the Caracas Metro Parkway in Houston Texas. Railway Line (Ghana). (Venezuela) and the underground »» Construction of Abu Dhabi train in Buenos Aires (Argentina). PumpStation (United Arab Emirates0. »»120 social/environmental programs SHAREHOLDING 100% »» Construction of Baixo Sabor Dam in 517 communities benefiting STRUCTURE Odebrecht Engenharia & (Portugal). 106,500 people. Construção S.A.

CIVIL CONSTRUCTION AND ELECTROMECHANICAL INSTALLATION FOR LAÚCA DAM IN ANGOLA CONSTRUCTION OF CHAGLLA DAM IN PERU MODERNIZING THE PORT OF MIAMI, IN THE UNITED STATES CONSTRUCTION OF THE ETHYLENE XXI PETROCHEMICAL COMPLEX IN MEXICO Odebrecht 2015 55

HIGHLIGHTS IN 2014 PROJECTS DELIVERED IN 2014 PROJECTS LAUNCHED IN 2014

ODEBRECHT REAL Reserva do Paiva, Pernambuco, has »»Terraço Laguna, Reserva do Paiva (PE) »»Paradiso, Reserva do Paiva become one of the most outstanding »»Hotel Sheraton, Reserva do Paiva »»Aqua Marine, Reserva do Paiva ESTATE DEVELOPMENTS planned districts in Brazil. In Rio de »»Novo Mundo Empresarial, Reserva »»Vent, Rio de Janeiro (RJ) Janeiro, in partnership with Carvalho do Paiva »»Ilha Pura, Rio de Janeiro (RJ) www.orealizacoes.com.br Hosken, OR launched Ilha Pura, the first »»Seletto, Rio de Janeiro (RJ) »»Gabriele Station, São Paulo (SP) venture to receive the LEED ND green »»Park One, São Paulo (SP) »»Cidade Viva, Santo André (SP) seal in Latin America. »»Verde Morumbi, São Paulo (SP) »»Homenagem Jaçanã – Phase 2, DEVELOPS RESIDENTIAL, CORPORATE, “We face the ongoing challenge »»Bella Vila Mariana, São Paulo (SP) São Paulo (SP) GROSS COMMERCIAL AND MIXED-USE of making OR a benchmark for »»Guaratinguetá Project, Santo »»RSVP, São Paulo (SP) REVENUE VENTURES IN BRAZIL THAT MEET innovation, technology, creativity and André (SP) »»Royal Campinas (Hotel), Campinas (SP) (in millions) THE NEEDS AND SPECIFICS OF efficiency in the service of our Clients’ »»The Blue, Santos (SP) »»LED Corporate, São Paulo (SP) EACH LOCATION AND DIFFERENT satisfaction. To achieve that, we rely »»Evolution, Alphaville (SP) »»Lumine Park 710, Brasília (DF) BRL 2,084 AUDIENCES, COMBINING QUALITY AND on Leaders and teams for each project »»Jardins Mangueiral, São Sebastião (DF) USD 885 SUSTAINABILITY. who are committed to developing increasingly sustainable ventures that contribute to urban development” AWARDS AND RECOGNITION Ebitda Paul Altit (in millions) Entrepreneurial Leader (CEO) »»“Most Prestigious Companies” from Época Negócios magazine, in the BRL 349 Construction, Development and USD 148 Location category. »»Prix d’Excellence, from the International Federation of Real Estate Professions (FIABCI) for Villa dos Corais (Reserva do Paiva). »»Ademi Bahia prizes for Hangar Business Park (BA). »»Ademi Rio de Janeiro prizes for the Holiday Inn and Ilha Pura. »»Ademi Pernambuco prize for Terraço Laguna and Novo Mundo Empresarial. »»Real Estate Master prize for Rio Corporate (RJ) and Brisas do Lago (DF). »» Property Awards for Praça São Paulo (SP) and Brisas do SHAREHOLDING STRUCTURE Lago (DF). »»Procel Edifica Seal of energy efficiency awarded to Hangar Business Park (BA).

85.5% Odebrecht S.A. 14.5% Gávea Investimentos

ILHA PURA, RIO DE JANEIRO – A PLANNED DISTRICT COVERING AN OVER 800,000-M2 AREA Odebrecht 2015 57

HIGHLIGHTS IN 2014 »»Awarded water and sewer concessions in Sumaré (SP), Paço AWARDS AND RECOGNITION ODEBRECHT ENVIRONMENTAL »»Water supply and sewage collection do Lumiar and São José do Ribamar and treatment for more than 17 million (MA), Bom Jesus do Tocantins, »»National Water and Sewer Quality www.odebrechtambiental.com people in 195 municipalities in 12 Santana do Araguaia, São Domingos Award (PNQS): Silver Trophy for states from all regions of Brazil. do Araguaia and São João do Mauá Unit; and Bronze trophy for »»Important contribution to the Araguaia (PA), in Brazil, and a water Jaguaribe Unit (BA). ODEBRECHT ENVIRONMENTAL INVESTS “Grooming new generations availability of drinking water in management contract in Benguela »»Third place for Limeira unit in the GROSS IN AND OPERATES PROJECTS IN THREE that become an integral part of the state of São Paulo during the (Angola). Water and Sewer Ranking of the REVENUE SEGMENTS: WATER AND SEWAGE, THROUGH the Businesses, consolidating water crisis. Through Aquapolo, »»Agreement signed with local Trata Brasil Institute. (in millions) PARTNERSHIPS AND PUBLIC WATER and expanding the practice guaranteed the supply of industries companies in Salamanca (Mexico) »»Exame magazine’s Infrastructure AND SEWER CONCESSIONS; UTILITIES of TEO to overcome new in the ABC Petrochemical Complex to develop a water reuse project to Yearly 2014/2015: the Sanitized BRL 2,828 – OUTSOURCED UTILITIES PLANTS AND challenges. The quality of through industrial water reuse. In supply the Pemex refinery. City project in the Recife US$ 1,202 SUPPLYING RECYCLED WATER; AND WASTE – service provided ensures the water and sewage operations in São Metropolitan Area was voted TREATMENT AND DISPOSAL OF INDUSTRIAL satisfaction of our Clients Paulo, operational efficiency and one of the 15 priority projects for AND CONSTRUCTION WASTE, AS WELL AS and users of our concessions, social mobilization for conscious Brazil’s development, according to REMEDIATION OF CONTAMINATED AREAS. thereby contributing to the consumption avoided rationing. a study by the KPMG consulting Ebitda FOR THE UTILITIES SEGMENT, ODEBRECHT Group’s perpetuity” firm. (in millions) ENVIRONMENTAL HAS A SUB-HOLDING »»Green Seal from the Chico Mendes COMPANY, ODEBRECHT UTILITIES. Fernando Reis International institute for Research BRL 722 Entrepreneurial Leader (CEO) and Social-Environmental USD 307 Responsibility for the Cachoeiro de Itapemirim Unit. »»Second Legal Sustainability Prize from the Verde Ghaia consulting firm: 2nd place in the Environment category for the Jeceaba Unit (MG). »»First prize, won by the Aquapolo Unit, in the general category of ODEBRECHT UTILITIES the Inter-American Development SUBHOLDING COMPANY Bank (IDB) and Harvard University Infrastructure 360º Awards.

SHAREHOLDING SHAREHOLDING STRUCTURE STRUCTURE

70% 82.76% Odebrecht S.A. Odebrecht Environmental 30% 17.24% FI-FGTS Funcef

SUMARÉ TREATMENT STATION: ODEBRECHT ENVIRONMENTAL BEGAN OPERATIONS IN SUMARÉ, SÃO PAULO, BRAZIL Odebrecht 2015 59

AWARDS AND RECOGNITION

»»Project Finance Deal of the Year award for Rutas de Lima for the complete financing of the project. »»LEED certification from the US ODEBRECHT Latinvest Green Building Council: pre- certification for Rutas de Lima for www.odebrechtlatinvest.com the Villa Toll Collections Control Center. »»Vias Nuevas de Lima highway was ODEBRECHT LATINVEST WAS CREATED IN 2012 “Odebrecht Latinvest has the a finalist in the Inter-American GROSS TO CONSOLIDATE THE ROAD CONCESSIONS Odebrecht Entrepreneurial Development Bank’s 2014 REVENUE ALREADY AWARDED IN PERU AND COLOMBIA, Technology in its DNA. It is Infrastructure 360º awards. (in millions) AS WELL AS IDENTIFYING NEW OPPORTUNITIES that basis of Principles and TO INVEST IN AND OPERATE TRANSPORTATION Values, together with our BRL 2,229 AND LOGISTICS SYSTEMS IN LATIN AMERICA capacity for achievement in USD 947 (EXCEPT BRAZIL). pursuit of the satisfaction of our Users-Clients, that drives us to pursue increasingly challenging opportunities.” Ebitda (in millions) Jorge Barata Executive Director BRL 352 USD 150

LATINVEST AFFILIATES »»Ruta del Sol (528 km) – divided highway linking the provinces to the SHAREHOLDING »»Sur Peruano Gas Pipeline – coast in Colombia. STRUCTURE partnership with Enagas of Spain (25%) to build, operate and maintain 1,134 km of pipelines between Cusco HIGHLIGHTS IN 2014 and the port of Ilo in southern Peru. »»IIRSA North highway (1,090 km) – »» Sur Peruano Gas Pipeline: USD 100% the first public-private partnership 7.3-billion investment to make Odebrecht Participações in road infrastructure in Peru, linking redundant the road transportation e Investimentos S.A. the Pacific and Atlantic Oceans and of oil and natural gas and associated 1 share crossing the Andes Mountains and liquids. Odebrecht S.A. Peruvian Amazon. »» Financing for Rutas de Lima raised »»IIRSA South highway (656 km) – entirely in the Peruvian market – the maintenance and operation of the largest bond issue in local currency in South Inter-Oceanic Highway, linking Peru. Cusco to Iñapari, on the border with »» Concession of an 86-km section the Brazilian state of Acre. of the Olmos-Lambayeque route, »»Rutas de Lima (115 km) – responsible part of IIRSA North, in Peru, with an for upgrading and preserving the investment of USD 250 million. Peruvian capital’s three main access routes.

SUR PERUANO GAS PIPELINE – 1,134-KM SYSTEM LINKING CUSCO AND THE PORT OF ILO Odebrecht 2015 61

ODEBRECHT OIL & GAS www.odebrechtoilgas.com

DEVELOPS INTEGRATED SOLUTIONS FOR THE “In 2014, we improved our GROSS UPSTREAM OIL & GAS INDUSTRY IN BRAZIL, performance indicators, REVENUE ANGOLA, MEXICO AND VENEZUELA IN THE guaranteeing our Clients’ (in millions) INVESTMENT AND OPERATIONS PHASES satisfaction. Our operational (CAPEX AND OPEX). ACTIVE IN THE OFFSHORE excellence is the result of a BRL 2,950 DRILLING, SUBSEA CONSTRUCTION, OFFSHORE combination of Knowledgeable USD 1,253 PRODUCTION, MAINTENANCE AND SERVICES, AND People, the use of advanced SPECIALIZED WELL SERVICES WITH A FOCUS ON technologies and the constant OPERATIONAL EXCELLENCE AND ADDED VALUE pursuit of zero accidents, FOR CLIENTS AND SHAREHOLDERS. driving us to win over new Ebitda Clients, provide new Services (in millions) and Internationalize our operations, prioritizing Mexico BRL 1,212 and Angola.” USD 515 Roberto Simões Entrepreneurial Leader (CEO)

AWARDS AND RECOGNITION

OIL & GAS TEAM OPERATING AN OFFSHORE DRILL RIG »»O FPSO Cidade de Itajaí obteve um dos melhores índices de performance em 2014 entre as SHAREHOLDING STRUCTURE HIGHLIGHTS IN 2014 »» Cidade de Itajaí FPSO, Santos Basin, »» ODN Delba III: first rig to drill in the PROJECTS UNDERWAY unidades de produção que operam Brazil: uptime (time the unit has been Pre-Salt oil-for-stock capitalization nas regiões Sul e Sudeste do país. Odebrecht Oil & Gas stood out in operating or at the Client’s disposal): venture in less than 100 days. »» Charter and operation of three semi- »»Manutenção e Serviços Offshore: 2014 as the Brazilian company with 99.9%. »» 51% reportable incidents (down from submersible rigs, four drill ships, two recebeu o Reconhecimento pela the largest fleet of ultra-deep- »» Accumulated oil production: 26.5 MM 5.1 to 2.5). production units and three PLSVs. Melhoria Contínua em Segurança 81.43% water offshore drilling units, ranking bbls (Cidade de Itajaí FPSO + North Sea »» Offset 100% of carbon emissions from Construction of drill rigs (Ondina, do Cliente Statoil. Odebrecht S.A seventh in the world. Its entire fleet Producer FPSO, in the North Sea). its operations in partnership with OCT Boipeba, Pituba, Interlagos, Botina and »»FPSO North Sea Producer: is comprised of 18 units, including »» Awarded contract for Pioneiro de Libra at the Pratigi Environmental Protection Pioneiro de Libra FPSO). recebeu o Prêmio de Inovação em 13.57% seven offshore drill rigs in operation, FPSO, to operate in the Santos Basin, Area (Southern Bahia Lowlands, Brazil). »» Repairs, installation, modification, Segurança da Associação Oil & Temasek Holding five under construction, two FPSOs Brazil. maintenance and engineering, Gas UK operando para o Cliente (Atlantic Oilfield) (Floating Production, Storage and »» Began operating three PLSVs. management of integrity and ConocoPhillips (Reino Unido). 5% Offloading vessels) in operation, a third »» Offshore Maintenance and Services: inspection of offshore assets for Gávea Investimentos under construction, and three PLSVs signed UO-RIO II contract and renewed Clients like Shell and Statoil. (Pipe Laying Support Vessels), also in contracts with Statoil and Shell. operation. Odebrecht 2015 63

Affiliates six states, through which an average Logistics 857 thousand equivalent vehicles »»It participates in the operation of the Urban Mobility travel daily. These are: Rota das container terminal Embraport, in the »»It moves 1.3 million people daily on Bandeiras (SP), Rota do Atlântico port of Santos (SP) of Liquiport, a Odebrecht Transport trains (SuperVia-RJ) and subway (Via (PE), Rota dos Coqueiros (PE), Bahia bulk liquid terminal at Vila Velha (ES); Quatro Linha 4 – SP). It participates Norte (BA), Litoral Norte (BA),Rota and of the Logum ethanol pipeline www.odebrecht-transport.com in the construction of Line 6 of the das Fronteiras (PR), Rota do Oeste transportation system. São Paulo subway (Move São Paulo), (MT) e ViaRio (RJ). It also has a the Carioca VLT (RJ), and the Goiânia share of ConectCar, a company that Odebrecht TransPort develops, establishes, “We are a bridge VLT (GO), which will carry 1.1 million operates an electronic system of tolls, HIGHLIGHTS IN 2014 GROSS operates and invests in projects in the sectors between the present passengers daily. It is responsible for parking and fuel. REVENUE of urban mobility, roads, seaports, airports and and the future. As the installation of 7.500 bus shelters »»Improvement of the railway (in millions) integrated logistics systems. It makes long-term investors and operators in the city of São Paulo, through Airport passenger transportation system in investments focused on transforming Brazil’s of infrastructure Otima. »»Concession holder RIOGaleão is Rio de Janeiro, with 135 new trains BRL 3,368 infrastructure. The company helps boost the companies, we link responsible since August 2014 for the in service, increase of 400 thousand USD 1,431 productivity of Brazilian companies and the together two eras: that H ighways expansion, remodeling and operation new seats daily and a daily record of nation’s economy. The public service concessions of the urgent current »»It participates in eight highway of Antonio Carlos Jobim International 680 thousand passengers. have the chief aim of fulfilling its users’ wishes, needs and that of the concessions for a total of 1.779 km in Airport, in Rio de Janeiro. »»Western Route (MT): start of offering them new experiences and improving materialization of the work and of operation, with a 30% Ebitda the public’s quality of life. With 20 affiliates by dreams of a developed reduction of fatal accidents. (in millions) the end of 2014, Odebrecht Transports created, and just country”. »»Award of the concession of the PR- as a subholding, Odebrecht Mobilidade, together 323 Corridor, the Borders Route (PR). BRL 416 with Mitsui & Co. Ltd., from Japan. The company also Paulo Cesena »»RIOGaleão: Tom Jobim International USD 177 relies on Odebrecht Rodovias as a subholding. Executive Director Airport: start of management. »»Embraport (SP): one year of operation, with more than 300 ships docked and 570 thousand containers moved. Received ISO 28000 subholdings certification of Security in the Logistic Chain, unprecedented in Brazil, and recommendation for ISO 9001 of the Quality Management System.

AWARDS AND RECOGNITION

»»Rota das Bandeiras: Quality Award SHAREHOLDING SHAREHOLDING SHAREHOLDING STRUCTURE STRUCTURE STRUCTURE for Services Rendered to Users (Artesp); 3rd best Highway in Brazil (National Transport Confederation). »»SuperVia – Best Passenger Operator (Revista Ferroviária); 59.39% 60% 100% Best Passenger Information App Odebrecht S.A. Odebrecht TransPort Odebrecht TransPort (Wide magazine). »». Otima – Finalist of Caboré 2015, in 30% 40% the category Media Platform. FI-FGTS Mitsui & Co., Ltd. 10.61% BNDESPAR

Western Route: recovery, maintenance and improvements in 850 km of BR-163, the main channel for the outflow of the production of grains from the Brazilian Center-West Odebrecht 2015 65

HIGHLIGHTS IN 2014 »»Net consolidated revenue reached Exports R$46 billion – an increase of 12% in »»The construction of the project comparison with 2013. »»Net revenue of Brazilian operations in Mexico in partnership with the »»EBIITDA rose 17% in relation to 2013. with the export to more than 40 Braskem Mexican group Idesa reached 88% of The recovery of petrochemical countries of thermoplastic resins physical progress at the end of 2014. spreads in the international market, and basic petrochemicals totaled www.braskem.com.br »»Complementing its portfolio of the 9% depreciation of the Real and a US$ 5.1 billion. UTEC (Utra-high Molecular Weight gain of R$277 million on the sale of a »»Net revenue, considering assets Polyethylene) in Brazil, Braskem non-strategic asset stand out. abroad, was US$ 8.5 billion. Braskem is the leading thermoplastic “Our history is made of a sequence announced investment in a plant to »»The company reached a net profit of GROSS resin producer in the Americas of overcome challenges. As in produce this 100% Brazilian resin in R$276 million. REVENUE (polyethylene, polypropylene and other important stages, I am the United States. »»The leverage measured in dollars (in millions) PVC) and the largest polypropylene convinced that we shall be better, »»Conclusion of expansion and through the relation net debt/EBITDA producer in the United States. A stronger and better prepared conversion of one of the producing was of 2.58 times, a reduction of 10% BRL 53,082 Company with over 8,000 Members, it to keep surviving, growing and lines of polyethylene in Bahia, for the relative to the previous year. USD 22,554 owns 36 industrial units: 29 in Brazil, perpetuating our principles and production of PEBDL metallocene base. AWARDS AND RECOGNITION five in the United States and two our successful performance in in Germany, with a total installed petrochemicals”. »»One of the 50 most innovative capacity of over 16 million metric companies in the world, according Ebitda tons of basic petrochemicals and Carlos Fadigas to the American Fast Company (in millions) thermoplastic resins per year. Entrepreneurial Leader (CEO) magazine. »»Transparency Award from the BRL 5,620 National Association of Finance, USD 2,388 Administration and Accounting Executives (Anefac), for the 6th time. »»Included for the tenth consecutive year in the Entrepreneurial Sustainability Index (ISE) of BM&F Total Bovespa. Equity »»One of the ten best Brazilian companies in leadership formation, by the Hay Group consultants in business management. 38.32% Odebrecht 36.08% Petrobras 25.60% Outros

Voting stock

50.11% Odebrecht 47.03% Petrobras 2.86% Other

AT THE TRIUNFO PETROCHEMICAL COMPLEX (RS), SCIENTISTS AND TECHNICIANS ENSURE ADVANCES IN RESEARCH AND DEVELOPMENT OF SYNTHETIC POLYMERS FOR MORE EFFICIENT PLASTICS Odebrecht 2015 67

HIGHLIGHTS IN 2014 »» Productivity and competitiveness: the Exports milling of the 2014/2015 crop reached In a challenging year for the sector a record 24 million tons. »»Sugar – 517.5 thousand tons ODEBRECHT Agroindustrial of energy from sugar, Odebrecht »» New business: structuring Odebrecht (US$ 187.8 million) exported to Agroindustrial improved its operation Terras. 24 countries. www.odebrechtagroindustrial.com thanks to a financial contribution by the »» Star of production at Biocom, first »»Ethanol – 33,3 m3 (US$18.8 million) Odebrecht Group and took the leadership company in Angola to produce and exported to a single country, Korea. of Bahiamido, a manufacturer of manioc commercialize sugar, ethanol and Odebrecht Agroindustrial consolidates the “Odebrecht Agroindustrial starches grown and supplied by local electric power from biomass. GROSS production of ethanol, sugar and power, was created with the farmers organized in cooperatives. »» Establishment of sugar cane straw REVENUE seeking to create value for all stakeholders strategic vision that packing at the Costa Rica Unit (in millions) in the business. Its strategy is based on renewable fuel is a »» Capitalization: contribution of R$836 (MS) with the aim of expanding competitiveness, sustainability and focus promising business for million by Odebrecht Group for capital the availability of straw as fuel for BRL 3,328 on people. The company guarantees the Brazil. Given the Odebrecht increase and subscription of private the boilers, thus maximizing power AWARDS AND RECOGNITION USD 1,414 generation of clean, renewable energy, Group’s confidence in us, we debentures for a total of R$2 billion. efficiency and the offer of clean preserves the environment, contributes to have focused our work on energy. »»Children’s Friendly Company Seal – the development of its local communities, and productivity to reap better awarded by the Abrinq Foundation offers the best working environment for its results from each harvest.” due to practices related to rejection Ebitda* members. Located in four Brazilian states (São of child labor in the premises (in millions) Paulo, Goiás, Mato Grosso do Sul and Mato Luiz de Mendonça of the Organization and/or the Grosso), its nine Agroindustrial Units foster Entrepreneurial Leader (CEO) employment of young people in BRL 1,594 local economic and social development. night shifts. USD 677 »»500 best Agrobusiness Companies – elected best company in the sector of Sugar and Biofuels for the award offered by Dinheiro Rural *Includes capital gains from the sale of energy assets to magazine. Odebrecht Energia Renovável »»Exame Sustainability Guide – one and of revenues for the farming mark to market. The of the three featured companies in amount refers to the period the Agrobusiness category. January-December 2014 and not to the crop year.

SHAREHOLDING STRUCTURE

99.99% Odebrecht Agroindustrial Investimentos 0.01% Other

GOIÁS POLE (RIO CLARO UNIT, BRAZIL) – PRODUCTIVITY AND COMPETITIVENESS IN THE FIELD OF ENERGY FROM SUGAR Odebrecht 2015 69

HIGHLIGHTS IN 2014 Establishment of Paraguaçu shipyard Support Units »» 81.5% of the work concluded. »»More than 2 thousand people Among important achievements, Enseada »» R$ 2.6 billion in already incurred costs. qualified in professional courses in the secured in October the Partial Operation »» Final stage of conclusion of Wharves 1, Recôncavo Baiano. Enseada SHIPBUILDING License issued by Ibama. This permitted 2 and 3. »»Signature of the concession contract the start of construction of the first stages »» Securing of the Operation License. for the construction and operation of www.enseada.com of the Ondina and Pituba vessels. The the Private Use Terminal (TUP). conclusion of the three wharves made Project Sondas (Bahia) »»Establishment of clean financing possible the docking of ships carrying »» 54% of physical progress for the first structures, without the need for Enseada Shipbuilding builds “2014 was a challenging year and brought the the equipment for the beginning of the Probe (Ondina). endorsement and guarantees from GROSS and consolidates offshore Partial Operation License, the authorization industrial stage of the undertaking and of »» Construction of the hulls of Ondina and shareholders. REVENUE platforms, FPSOs and drill that the company needed to fulfill its the super crane Goliath, 150 meters tall. Pituba Probes. »»Optimization of the Corporate (in millions) rigs, representing a BRL contracts ensuring the development of Structure, with a reduction of 16% in 3.2-billion investment. technologies for the country. We are Project FPSOs Conversion expenses in relation to the PA. BRL 2,966 Located in Maragojipe, Bahia, establishing a state of the art shipyard in (Rio de Janeiro) »»More than 2 thousand patients USD 1,260 the Enseada Shipyard, the world shipbuilding”. »» 83% of the Project concluded. received at health fairs. company’s headquarters »»Replanting of 40 hectares of riparian is considered one of the Fernando Barbosa vegetation in the Area of Direct largest in Brazil. Executive Director Influence. Ebitda (in millions) BRL 88 USD 37

AWARDS AND RECOGNITION

»»4th Naval Quality and Sustainability Award, promoted by Sinaval (Sindicato Nacional da Indústria de Construção e Reparação Naval e Offshore), through the Verde Novo Program. SHAREHOLDING »»National Award of the Council of STRUCTURE Public Relations Professionals (POP), with the Navegando Juntos blog. »»Two national and four regional presentations of the Aberje Award (Associação Brasileira de 70% Comunicação Empresarial) for Enseada Indústria Naval Participações communications activities carried 50% Odebrecht out with communities. 25% OAS 25% UTC 30% Kawasaki Heavy Industries

The Enseada shipyard, one of the largest undertakings of private initiative in Bahia and in Brazilian shipbuilding industry, is 80% concluded Odebrecht 2015 71

Odebrecht DEFENSE & TECHNOLOGY www.odebrechtdefesa.com

ODT provides innovative solutions that “The year 2015 will be extremely GROSS contribute to Brazil’s technological challenging for Odebrechjt Defense REVENUE independence and help meet the & Technology. Nevertheless, I am (in millions) ’ challenge of confident that we will surmount the guaranteeing national sovereignty. challenges we face and, together BRL 109 The company’s operations focus on with the Odebrecht Group’s other USD 46 the design, development, assimilation, Businesses, consolidate the consolidation, management and foundations for a new cycle of application of state-of-the-art strong growth.” technologies for the execution of priority defense projects for Brazil. André Amaro Executive Director

»» Consortium Baia de Sepetiba (CBS): »» Signature of the Memorandum of responsible for planning, coordination, Understanding with the Swedish SHAREHOLDING management and administration of company Saab for the participation of AWARDS AND RECOGNITION STRUCTURE the interfaces of PROSUB. the FX-2 Program ( fighter airplanes »» Mectron: devoted to the development for FAB). »»Certification of Odebrecht Defesa and manufacturing of complex »» Supply of equipment for the satellite e Tecnologia as Strategic Defense products and systems for military CEBRS-4, launched successfully in 2014. Company by the Ministry of and civilian use, such as missiles, »» Finalization of equipment for the Defense of Brazil. 100% radar, avionics, command, control, Program VLS-40 (Launching Vehicle) »»Mectron Award as Outstanding Odebrecht S.A. communication and intelligence. and SARA (Sub-orbital Atmospheric Company in Export of Services, 1 share Reentry Satellite). in the category “Export of Belgrávia Serviços e Participações S.A. »» Successful carrying out of the Engineering Services”, given by HIGHLIGHTS IN 2014 campaign for the launching of Missile the Foreign Trade Association of MAA-1 at Canoas. Brazil (AEB) in partnership with the Odebrecht Defesa e Tecnologia moved »» Signature of the new contract for Missile Ministry of Development, Industry forward in absorption of technology MSS 1.2 with the Brazilian Army. and Commerce (MDIC). Affiliates and in the construction by ICN of the »» Successful carrying out of tests for PROSUB submarines and developed the integration of Radar SCP-01 to the »» Itaguaí Construções Navais (ICN): for Data Link for the Brazilian Air Force and AMX aircraft modernized for FAB. the construction of conventional and software defined radio for the Brazilian »» Gross revenue of R$176million and nuclear propulsion submarines of the Army. It also formalized contracts with EBITDA of R$76 million at ICN*. National Program for the Development the Brazilian Navy for the development of Submarines (PROSUB) of the of the IPMS management system for *Due to the accounting rules used, the consolidation of the financial information of ICN is done through patrimonial Brazilian Navy. submarines and the National Heavy equivalence (CPC 19). Torpedo at a reduced scale. Metal Structures Manufacturing Unit at Itaguaí, Rio de Janeiro: Odebrecht participates in the program of construction of five new submarines for the Brazilian Navy, including the first one in the country with nuclear propulsion Odebrecht 2015 73

Odebrecht Africa Fund Affiliates Highlights in 2014 »» NossoSuper supermarket chain, »» Expansion of the NossoSuper Develops and entrepreneurs strategic present throughout Angola. supermarket chain, which will grow its investments that reaffirm Odebrecht’s »» Belas Shopping, Luanda’s mall. total sales outlets by 70% based on the commitment as a long-term investor in »» Sociedade Mineira de Catoca mining first project financing ever structured Africa and create crosscutting business company (Angola). in the Angolan market. opportunities within the Group. »» Concession for Block 16 in Angola’s oil-producing basin.

SANTO ANTÔNIO HYDROPOWER PLANT, UNDER CONSTRUCTION IN MADEIRA RIVER, RONDÔNIA STATE: 3.586 MW FOR DISTRIBUTION THROUGHOUT BRAZIL

Investments

Fundo Odebrecht Brasil »» Began test operations of the Wind Investments Complex. Makes investments in the Brazilian energy sector. »» Santo Antônio Hydropower Plant, Odebrecht Renewable Energy Rondônia state – 3,568 MW. »» Completed purchase of Odebrecht Energy assets in Brazil »» Teles Pires Hydropower Plant, Mato Agroindustrial’s electricity Grosso/Pará states – 1,820 MW. cogeneration assets, with the transfer »» Senandes Corridor Wind Power of ANEEL grants. Complex, RS – 108 MW from four wind »» Implemented energy sales strategy parks. Highlights (capturing BRL 96 million in gains). »» Odebrecht Renewable Energy – 738 »» Enabling the purchase of 265 metric MW from nine thermal power plants. Senandes Corridor Wind tons of additional biomass to increase Power Complex power generation, together with »» Completed Assembly of Aerofoil- Odebrecht Agroindustrial. Powered Generators for Wind Turbine Complex. »» Operating License Issued for Wind Turbine Complex and its transmission line.

NOSSOSUPER SUPERMARKET CHAIN , IN ANGOLA, WILL GROW ITS TOTAL SALES OUTLETS BY 70% Odebrecht 2015 75

SUPPORT COMPANIES

Odebrecht Serviços de Exportação

Odebrecht is one of Brazil’s leading Odebrecht Latin Fund exporters of goods and services, with participation in large international projects. Manages investments in the Odebrecht Serviços de Exportação infrastructure sectors in Latin America is the company that helps Odebrecht and consolidates investments that Group Businesses meet the challenges leverage the Group’s engineering & of importing and exporting goods and construction projects. Its portfolio is services, global sourcing, and expatriating focused on the energy and Members. segments. ODEBRECHT EXPORTS GENERATED OVER USD 1 MILLION IN FOREIGN EXCHANGE FOR BRAZIL Main Assets

»» Trasvase Olmos Concession (Peru): 20-year concession for construction Odebrecht Engineering & Construction and operation of a dam and a 20-km companies exports tunnel through the Andes to convey water for irrigation projects and hydroelectric plants. Generated 2,783 »» H2Olmos Concession Company (Peru): 25-year concession to build USD 1,059 million Brazilian and operate the infrastructure used to in foreign exchange for Brazil through companies irrigate 43,500 hectares. exports of goods and services that supply »» Chavimochic III Concession Company (Peru): Building water supply goods and infrastructure. services to »» Navelena Concession Company 211,837 projects in other (Colombia): A project to restore the countries navigability of the Magdalena River. work opportunities »» Chaglla Hydropower Complex (Peru): created directly and indirectly in Brazil two 225-MW generator units, a 6-MW OLMOS PROJECT: WATER TRANSPORTATION, IRRIGATION AND ENERGY GENERATION IN PERU small hydroelectric plant and a 127-km Value of goods exported: transmission line. Goods: »» Bocas del Toro Hydropower Complex Highlights in 2014 Completed water testing USD 325 million 510 small firms (Panama): a 224 MW unit and a 18-km and construction of irrigation 766 large firms transmission line. »» Trasvase Olmos Concession Company infrastructure. »» Belo Horizonte Hydropower Complex (Peru): Began ongoing operations to »» Chaglla Hydropower Complex (Peru): 48,405 items exported Services: (Peru): a 240 MW unit and a 20-km divert, consolidate and transport water Construction of the project reached transmission line. from the Huancabamba River. the 90% mark. 1,356 small firms »» Chadin II Hydropower Complex (Peru): »» H2Olmos Concession Company: »» Chavimochic III Concession Company 151 large firms installed capacity of 600 MW and a (Peru): Began preliminary works. 2,212 expatriates 110-km transmission line. Odebrecht 2015 77

Odebrecht Previdência Odebrecht Previdência Accumulated return in 2014 Indicators (per Investment Profile): Helps Members plan and lead their lives so they can build up assets they can Number of Participants: Short-term 9.77% enjoy during the post-career phase 20,641 of their lives. It does so by managing Profile for 2020 9.23% supplementary pension plans for Number of pensioners: Brazilian Members and for non-Brazilian 153 Profile for 2025 8.65% expatriates. It also facilitates plans for local Members in each of the countries where Total assets managed: Profile for 2030 8.34% the Group is active. BRL 1.979 billion USD 745 million

Odebrecht Comercializadora de Energia captures synergies with economies of scale for Odebrecht Group

Odebrecht Comercializadora Main Indicators for 2014 de Energia 19 Generator units Provides support for Odebrecht Group companies in buying and selling 26 Free consumption units electric energy required and produced by its shareholders, as well as related Installed generating capacity: services, such as market intelligence 1,762 MW and regulation and risk management in the electric energy sector in Brazil Charge: and other markets. Its mission is to 626 MW average create a unique platform and capture or 5,484 GW synergies with economies of scale and increased visibility in the energy market, Total value of generation and as well as to consolidate institutional charge contracts managed by representation. Odebrecht Comercializadora de Its shareholders, each with equal stakes, Energia: BRL 1 billion. are Odebrecht Energy, Odebrecht TransPort, Odebrecht Environmental, Odebrecht Agroindustrial and Braskem.

YOUNG PARTICIPANTS OF ODEPRECHT PREVIDÊNCIA PLAN: FROM LEFT, RAQUEL PEREIRA (CONSTRUTORA NORBERTO ODEBRECHT). DANIEL NETTO (ODEBRECHT REAL ESTATE DEVELOPMENTS) AND FLAVIA RIBEIRO (BRASKEM) Odebrecht 2015 79

Odebrecht Corretora de Seguros Odebrecht budget for the Sonaref Project, for Construction International – Africa, Engenharia de Projetos Odebrecht Engineering & Construction United Arab Emirates and Portugal. Helps Odebrecht Group companies International – Industrial Engineering »» Quality Control for the Rio Manso identify and mitigate risks. Develops Active in all Odebrecht Group businesses, and Construction. System project, for Construtora innovative risk transfer solutions and developing intelligent and innovative »» Detailed engineering services for Norberto Odebrecht. Brazilian and international insurance and Project Engineering solutions. the Pascuales-Cuenca Multipurpose »» Detailed engineering services and reinsurance coverage. Pipeline’s Storage Terminals and support the proposed budget for Highlights in 2014 Pumping Stations, for Odebrecht the SisGAAz Project (Blue Amazon Surety Bonds »» Detailed engineering services for the Engineering & Construction Management System), for Odebrecht The surety bonds program works with Mauá Unit Wastewater Treatment International – Latin America. Defense & Technology. over 60 partners, including local and System, for Braskem. »» Quality control for the STEP (Strategic multinational insurance and reinsurance »» Evaluation of the basic design and Tunnel Enhancement Program) companies, and multilateral and export help with developing the proposed project, for Odebrecht Engineering & credit agencies. In 2014, the value of Group’s lines of surety bonds grew by nearly USD 1.8 billion. During that period, it issued over 2,000 new surety bonds representing almost USD 2.5 billion in utilized capacity.

Insurance and Bond Indicators

Total Insurance Coverage (at December 31, 2014): PORTO DE CALLAO, PERU: ODEBRECHT CORRETORA DE SEGUROS SUPPORTS ALL PROJECTS OF ODEBRECHT GROUP COMPANIES USD 100.5 billion

E&C: USD 41.8 billion Other Businesses*: USD 13.7 billion Assets**: USD 45 billion Life and Health Members covered by life, health and Indicators tenant guarantee insurance: Total Bond Coverage (at December 31, 2014): Odebrecht Corretora de Seguros is Health Insurance 241,074 USD14.3 billion responsible for managing all Life and Health policies for the Odebrecht Dental Insurance 129,649 E&C: USD 12.5 billion Group’s Members, as well as tenant Other Businesses*: USD 1.4 billion guarantee insurance Life Insurance Assets**: USD 370.3 million (Group and Optional) 190,870

Tenant Guarantee Insurance 389

*Other Businesses: Enseada Shypbuilding, Odebrecht Defense & Technology, Odebrecht Environmental, Odebrecth TransPort, ** Assets: Odebrecht Agroindustrial, Odebrecht Oil & Gas, Braskem SONAREF REFINERY, UNDER CONSTRUCTION IN ANGOLA, FOR PROCESSING UP TO 200,000 BARRELS OF OIL PER DAY Odebrecht 2015 81

The Odebrecht Foundation is one of the oldest corporate foundations in Brazil. As it ODEBRECHT celebrates its 50th anniversary in 2015, it continues to play the role of coordinating “As the Odebrecht specific technologies and consolidating the results of programs that are helping Foundation marks its FOUNDATION strengthen a community that plays a leading role in and takes responsibility for its own 50th anniversary, this sustainable development. Its mission is “Education for Life through Work on the basis of www.fundacaoodebrecht.org.br is the time to evaluate Values and overcoming Limits.” the results achieved and Social renew our commitment It is currently coordinating three initiatives: to the present and future »» Development and Integrated Growth Program with Sustainability for the Southern of young people and their Bahia Lowlands Environmental Protection Areas Mosaic (PDCIS): fostering the Action families. We will carry productive development of rural families while bolstering four types of capital - on building a history of human, productive, social and environmental. effective social change.” »» Tribute to the Future: enables Odebrecht Members and Partners to contribute to the education of children and adolescents through donations and/or assignment of income task owed. Eduardo Odebrecht de Queiroz »» Publishing Program: publication and sale of books on the Odebrecht Entrepreneurial Vice Chairman of the Board of Trustees Technology (TEO). of the Odebrecht Foundation

Highlights in 2014 Organization (OCT) to invest USD 1 million from the IDB/MIF and USD Awards and Recognition »» The Odebrecht Group invested about 1 million from the OCT in projects BRL 40 million in PDCIS projects aimed at increasing farm production »»Awarded the National and Latin involving over 350 communities, and using sustainable practices. The American Prize for Excellence in benefiting 36,000 people directly and Mitsubishi Corporation was a co- Education in recognition of the 285,000 indirectly. financier, providing funding of roughly educational programs backed »» About 800 young people graduated USD 600,000. by the Odebrecht Foundation or were enrolled in Family Houses and »» Selected by the Criança Esperança in the Mosaic of Environmental over 650 farm families benefited. (Child Hope) Program – organized Protection Areas in the Southern »» Over 50 Partners and Social Investors by the Globo Network and UNESCO Bahia Lowlands. mobilized to support over 15 social (United Nations Educational, Scientific »»Grown by members of the Hearts- institutions. and Cultural Organization) – the of-Palm Producers’ Association »» Over 10,000 investors took part in the Presidente Tancredo Neves Family of the Southern Bahia Lowlands 2014 Tribute to the Future campaign, House (CFR-PTN) obtained funding of (Coopalm), backed by the raising approximately BRL 6 million. about BRL 160,000. Odebrecht Foundation, Cultiverde »» Agreement signed with the Inter- hearts-of-palm was awarded the American Development Bank (IDB) Superior Taste Awards seal by the through the Multilateral Investment International Taste and Quality Fund (MIF) and the Land Conservation Institute (iTQi), a global benchmark in the evaluation and promotion of food and beverages, with judges from 15 countries.

JOVAN DO NASCIMENTO, A RESIDENT OF THE JULIANA COMMUNITY IN THE SOUTHERN BAHIA LOWLANDS, BRAZIL, BENEFITS FROM AN INSTITUTION BACKED BY THE ODEBRECHT FOUNDATION Odebrecht 2015

Executives of the Odebrecht Group

(July 2015)

Odebrecht S.A. Odebrecht Engenharia & Construção S.A.

Origins and Roots of the Odebrecht Group BOARD OF DIRECTORS Emílio Odebrecht Newton de Souza, Chairman Claudio Melo Filho Founder of the Odebrecht Group (1st generation) Daniel Villar Norberto Odebrecht Marcela Drehmer Maurício Ferro Board of Directors of Odebrecht S.A. (2nd generation) Mônica Odebrecht Emílio A. Odebrecht, Chairman Paulo Lacerda Gilberto Sá Luiz Almeida SENIOR OFFICERS Luiz Villar Adriano Chaves Jucá Rolim Newton de Souza Antonio Marco Campos Rabello Pedro Mariani Benedicto Barbosa da Silva Júnior Pedro Novis Carlos Hermanny Filho Renato Baiardi Eduardo Gedeon Oliveira Rubens Ricupero Jayme Gomes da Fonseca Junior Sergio Foguel Luiz Antonio Mameri

Executive Directors of Odebrecht S.A. (3rd generation) Marcelo Bahia Odebrecht, President and CEO Newton de Souza, Vice President (acting President and CEO) Cláudio Melo Filho Daniel Villar José de Freitas Mascarenhas Marcela Drehmer Paulo Lacerda

Bruno Lima and Davlin Santos, Brazilian Members of Odebrecht Transport Odebrecht 2015

ODEBRECHT ODEBRECHT AMBIENTAL ODEBRECHT LATINVEST S.A. ODEBRECHT ÓLEO E GÁS S.A. ODEBRECHT TRANSPORT S.A. BRASKEM S.A. REALIZAÇÕES IMOBILIÁRIAS PARTICIPAÇÕES S.A. E PARTICIPAÇÕES S.A. Board of Directors Board of Directors Board of Directors Board of Directors Board of Directors Board of Directors Odebrecht Representatives Odebrecht Representatives Odebrecht Representatives Odebrecht Representatives Odebrecht Representatives Luiz Mameri, Chairman Marcelo Bahia Odebrecht, Chairman Benedicto Junior, Chairman Newton de Souza, Chairman Odebrecht Representatives Marcelo Bahia Odebrecht, Chairman Carlos Alexandre Almeida (alternate) Cláudio Melo Filho (alternate) Carlos Hermanny Filho (alternate) Roberto Ramos (alternate) Marcelo Bahia Odebrecht, Chairman Cláudio Melo Filho (alternate) Roberto Ramos, Vice Chairman Newton de Souza, Vice Chairman Maurício Ferro, Vice Chairman Alfredo Tellechea Newton de Souza (alternate) Newton de Souza, Vice Chairman Paulo Lacerda de Melo (alternate) Marta Pacheco (alternate) Mônica Odebrecht (alternate) Luiz de Mendonça (alternate) Maurício Ferro, Vice Chairman Paulo Lacerda de Melo (alternate) Daniel Villar Maurício Ferro Adriano Jucá Álvaro Cunha Mônica Odebrecht (alternate) Maurício Ferro Sérgio Leão (alternate) Fernando Luiz Ayres da Cunha Santos Reis Luciano Cruz (alternate) Paulo Lacerda de Melo (alternate) Daniel Villar Mônica Odebrecht (alternate) Eduardo Oliveira Gedeon (alternate) Daniel Villar Marcelo Bahia Odebrecht Carla Barretto (alternate) Daniel Villar Lilian Porto Bruno (alternate) Daniel Villar Roberto Ramos (alternate) Daniel Villar (alternate) Marcela Drehmer Sergio Leão (alternate) Jayme Fonseca Mônica Odebrecht (alternate) Marcela Drehmer Marcela Drehmer Mauro Motta Figueira (alternate) Marcela Drehmer Rodrigo Nazareth Menck (alternate) Marcela Drehmer Mauro Motta Figueira (alternate) Mauro Motta Figueira (alternate) Paulo Lacerda de Melo Mauro Motta Figueira (alternate) Marcela Drehmer Mauro Motta Figueira (alternate) Jorge Barata Maurício Ferro Sérgio Leão (alternate) Mauro Motta Figueira (alternate) Paulo Lacerda de Melo Paulo Lacerda (alternate) Luciano Dequech (alternate) Minority Shareholders’ Representatives Maurício Ferro Sérgio Leão (alternate) Roberto Zurli Machado, representing ODB/BNDES Minority Shareholders’ Representatives FI - FGTS: 02 members Mônica Odebrecht (alternate) Roberto Ramos Minority Shareholders’ Representatives José de Freitas Mascarenhas (alternate) GIF – Gavea: 02 members Paulo Cesena Ernesto Baiardi (alternate) FI - FGTS: 03 members Senior Officers Adriano Maia (alternate) BNDESPAR: 01 members Minority Shareholders’ Representatives Senior Officers Fernando Luiz Ayres da Cunha Santos Reis – Minority Shareholders’ Representatives Petrobras (*): 04 members Paul Elie Altit President and CEO Executive Director Temasek: 02 members Executive Director Ciro Barbosa de Pereira Cardoso Maurício Dantas Bezerra Jorge Barata GIF – Gávea: 01 member Paulo Cesena (*) Post of Vice Chairman appointed by Petrobras Marcelo Britto Sinay Neves Ticiana Vaz Sampaio Marianetti Rodrigo José de Pontes Seabra Monteiro Salles Emyr Diniz Costa Junior Senior Officers Senior Officers Senior Officers Senior Officers Sergio Kertesz Enio Augusto Pereira e Silva Jorge Barata Roberto Lopes Pontes Simões Paulo Henyan Yue Cesena – President and CEO Carlos José Fadigas de Souza Filho – President Nelson Bulhões Guilherme Pacheco de Brito Adriano Sá de Seixas Maia and CEO Diana Ortiz Heitor Luiz Gioppo Marcelo Felberg Mario Augusto da Silva – Investor Relations Director Javier de Souza Herculano de Almeida Horta Barbosa Juliana Sá Vieira Baiardi Sinay Neves Marcelo Arantes de Carvalho Mario Costa Jorge Luiz Uchoa Mitidieri Michael Machado Gustavo Sampaio Valverde Luis Arditi José Claudio Breviglieri Grossi Luciano Nitrini Guidolin Fernando Ocampo Rogério Luis Murat Ibrahim Marcelo de Oliveira Cerqueira Roberto Prisco Paraíso Ramos Odebrecht 2015

ODEBRECHT AGROINDUSTRIAL S.A. ENSEADA INDÚSTRIA NAVAL S.A. ODEBRECHT DEFESA SUPPORT COMPANIES ODEBRECHT CORRETORA DE E TECNOLOGIA S.A. AND ENTITIES SEGUROS LTDA. Board of Directors Board of Directors Enseada Indústria Naval is a subsidiary of the Enseada Participações S.A. Board of Directors ODEBRECHT COMERCIALIZADORA General Director Odebrecht Representatives Odebrecht Representatives holding company DE ENERGIA S.A. Marcela Drehmer Marcelo Bahia Odebrecht, Chairman Roberto Ramos, Chairman Odebrecht Representatives Cláudio Melo Filho (alternate) Marta Pacheco (alternate) Board of Directors Roberto Ramos, Chairman Board of Directors Officers Responsible for Risk Newton de Souza, Vice Chairman Cláudio Melo Filho Claudio Mello Filho (alternate) Assessment and Insurance Coverage Otávio Franca (alternate) Roberto Simões (alternate) Odebrecht Representatives Daniel Villar Odebrecht Representatives Kátia Luz – Responsible for Risk Assessment and Carlos Fadigas Daniel Villar Roberto Ramos, Chairman Paulo Lacerda de Melo (alternate) Paulo Lacerda de Melo, Chairman Insurance Coverage for Shipbuilding and Offshore, Defense Luciano Guidolin (alternate) Paulo Lacerda de Melo (alternate) Claudio Melo Filho (alternate) Marcela Drehmer Marcela Drehmer (alternate) and Technology, Environmental Engineering, Engineering & Daniel Villar Marcela Drehmer Marcela Drehmer Mauro Motta Figueira (alternate) Ailton Reis Construction, Investments Latin America, Properties, Real Mônica Odebrecht (alternate) Mauro Motta Figueira (alternate) Daniel Villar (alternate) Mônica Odebrecht Adriano Jucá (alternate) Estate Developments, Transport and Logistics. Marcela Drehmer Maurício Ferro Maurício Ferro Marta Pacheco (alternate) Emyr Costa Luis Barretto – Responsible for Risk Assessment and Mauro Motta Figueira (alternate) Mônica Odebrecht (alternate) Marta Pacheco (alternate) Maurício Bezerra (alternate) Insurance Coverage for Ethanol & Sugar, Oil & Gas, Chemicals Maurício Ferro Diretor Executivo Gustavo Dantas Guerra & Petrochemicals, as well as the Surety Bond program. Gustavo Valverde (alternate) Minority Shareholders’ Representatives Minority Shareholders’ Representatives André Amaro da Silveira João Gouveia Ferrão Neto (alternate) Paulo Lacerda de Melo Kawasaki: 03 members OAS: 01 member Jayme Fonseca Ricardo Simões (alternate) OAS: 01 member UTC: 01 member Senior Officers Eduardo Gedeon (alternate) Roberto Ramos UTC: 01 member André Amaro da Silveira – Diretor-Presidente Marcelo Mancini Felipe Jens (alternate) Executive Director André Luiz Paraná Ferreira Luciano Dequech (alternate) Senior Officers Fernando Barbosa Diego Luís Pugliesso Marcelo Cerqueira Senior Officers Fernando Sampaio Barbosa – President and CEO Gustavo Checcucci (alternate) Luiz de Mendonça – President and CEO Guilherme Guaragna – Operations Director Senior Officers Rogério Bautista Alexandre Perazzo de Almeida Hitoshi Kudo – Technology Director Fausto Antônio de Aquino Felipe Jens (alternate) Luciano Dequech Ricardo Ricardi – Financial Director Pedro Ribeiro de Abreu Celso Luiz Tavares Ferreira Senior Officers Ricardo de Maya Gomes Simões Ana Carla Gomes Petti Queiroga Antonio Marco Campos Rabello

Odebrecht 2015

ODEBRECHT PREVIDÊNCIA ODEBRECHT ENGENHARIA ODEBRECHT FOUNDATION DE PROJETOS LTDA. Governing Board Board of Trustees of the Senior Officer Odebrecht Foundation Representatives Appointed Flávio Faria Emílio A. Odebrecht, Chairman by Sponsor Companies Eduardo Queiroz, Vice Chairman Daniel Villar, Chairman Geraldo Dannemann Edson Lemos, Representing E&C ODEBRECHT SERVIÇOS Gilberto Sá Mario Augusto da Silva, Representing Braskem DE EXPORTAÇÃO S.A. Luiz Almeida Luiz Villar Senior Officer Senior Officer Newton de Souza Sergio Brinckmann Luiz Mameri Pedro Novis Pedro Mariani The Senior Officer Responsible for the Renato Baiardi Odebrecht Previdência reports directly to the Rubens Ricupero Senior Officer Responsible for Support for Sergio Foguel Entrepreneurship of People, Organization and Communication, Daniel Vilar