Petrobras (PBR)

5. REIMBURSEMENT OF DISSENTING SHAREHOLDERS.

5.1. Right of Withdrawal. Pursuant to articles 137 and 252, paragraphs 1 and 2, Law 6.404/76, right of withdrawal and consequent reimbursement shall only be granted to Braskem’s common and preferred class B shareholders dissenting from the resolution approving the Incorporation of Shares, given the respective shares’ absence of liquidity and dispersion in the market. No right of withdrawal shall therefore be granted to the holders of Braskem’s preferred class A shares trading in the market, given that these shares are components of a representative stock index portfolio in Brazil and have a free float of 71.30% .

The reimbursement to shareholders of the value of the shares shall only be guaranteed relative to common shares and preferred class B shares where their ownership can be substantiated on the publication date of this Material Fact in accordance with Paragraph 1 Article 137 of the Brazilian Corporate Law.

5.2. Reimbursement Value. Braskem’s shareholders dissenting from the resolution which approves the Incorporation of Shares shall have the right to reimbursement of their shares at the book value of R$13.50 (thirteen reais and fifty centavos), according to the Company’s audited balance sheet raised on December 31 2007.

5.3. Period for Exercising Rights of Withdrawal. The right of withdrawal shall be exercised within a period of 30 days as from the publication of the minutes of the Meeting which approves the Incorporation of Shares, that is to say, until July 1 2008, inclusive, pursuant to Paragraph 2 of Article 137 of Law 6.404/76.

5.4. Payment of Reimbursement. The payment of reimbursement by Braskem shall depend on the execution of the operation, pursuant to Article 230 of Law 6,404/76 and shall be effected as from July 14 2008, that is on the first business day following the end of the 40-day period as from the publication of the minutes of the Meeting which approves the Incorporation of Shares.