• Delivery of Court-Supervised Reorganization Plan of Odebrecht S.A.

    DATA: 08/27/2019

    Dear Team Members,


    Last night, we submitted to the Courts of São Paulo the Court-Supervised Reorganization Plan of Odebrecht S.A. and of certain companies of the Odebrecht Group*.

    Given our steadfast commitment to transparent dialogue with you team members, I want to explain the importance of this step that we have just taken.

    Firstly, the Plan represents our compliance with a legal formality. By law, companies have 60 days after official publication of the granting of the petition for court-supervised reorganization to present their plans.

    Secondly, the Plan is just the starting point of negotiations that will culminate, over several months, in the holding of a General Meeting of Creditors. Then, once an agreement is reached with the creditors, it will be ratified by the Courts.

    Thirdly, since it represents a starting and not an ending point, the Plan, at this moment, is not detailed. Instead, it presents the basic guidelines and parameters for reaching an understanding with creditors. Over the course of the negotiations, it will gain shape as the details are resolved.

    A key characteristic of the Plan is transparency. It encompasses all creditors simultaneously. Each class of creditor is aware of what is happening with the other classes. The Plan, therefore, serves the collective interests of the creditors.

    The overriding principle of the Plan is the generation of wealth in the short, medium and long term through the divestment of assets and the recovery of the Businesses of the Odebrecht Group. The creditors, based on the specific characteristics of each credit, will receive payment securities backed by the income generated from the divestment of assets and the economic performance of our companies.

    The basic principles of the plan are firmly grounded in labor law and preserve all labor obligations. In this case, the payments should be made within a maximum of 12 months as from the date the court ratifies the plan.

    This financial reorganization, combined with the technical excellence and innovation of our projects and businesses and the transformation that we have carried out in our corporate governance and in our way of doing business, rigorously upholding the principles of ethics, integrity and transparency, will lead us to be recognized once again as important agents in job and income generation and in the development of the regions where we operate.

    We are confident in constructive dialogue with our creditors.


    You, team members, as we have said before, are an important part of the progress in this process.


    We are counting on you.


    Luciano Guidolin

    Chief Executive Officer

    Odebrecht S.A.


    *the following are excluded from the court-supervised reorganization of ODB: Braskem, OEC, Ocyan, OR, OTP, ODT, Enseada, certain assets of ODB in Latin America and their subsidiaries, as well as Odebrecht Insurance Brokerage – OCS, Vexty (Odebrecht Retirement Fund) and the Odebrecht Foundation. Atvos Agroindustrial is conducting its court-supervised reorganization separately.

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