(Commission File No. 1-14862 )

On May 7, 2014, at 12 p.m., at the Company’s offices located at Rua Lemos de Monteiro, n° 120, 15º andar, São Paulo/SP, CEP 05501-050, an Ordinary Meeting of the Board of Directors of BRASKEM S.A. was held, with the presence of the undersigned Board Members, pursuant to the signatures affixed at the end of these minutes. The Chief Executive Officer, Carlos Fadigas de Souza Filho, Officers Gustavo Valverde, Luciano Guidolin, Mario Augusto da Silva, Decio Oddone and Marcelo Cerqueira, and Messrs. Marcelo Arantes de Carvalho, Fernando Musa and Guilherme Furtado, were also present. Board Member Daniel Bezerra Villar, as well as his alternate Jairo Elias Flor, was absent. The Chairman of the Board of Directors, Mr. Marcelo Bahia Odebrecht, presided the meeting and Ms. Marcella Menezes Fagundes acted as secretary. AGENDA: I) Subjects for deliberation: 1) PROPOSALS FOR DELIBERATION: After due analysis of the Proposals for Deliberation (“PD”), copies and related documentation of which were sent in advance for knowledge of the Board Members, as set out in its Internal Rules, and shall remain duly filed at the Company’s principal place of business, the following deliberations were unanimously approved  by the attendees pursuant to the terms and conditions set out in the respective PDs: (i) PD.CA/BAK-03/2014 –  Renewal of the Alliance Agreement for the Management of Stoppages, Maintenance and Expansion of the Business Units of Braskem S.A.; and (ii) PD.CA/BAK-05/2014 – Termination of the Long-Term Incentive Plan; 2) Allocation of the Managers’ Compensation – in compliance with the provisions in articles 25 and 26 of the Company’s Bylaws, the allocation of the compensation of the Company’s managers was approved, according to the yearly amounts approved by the Annual General Meeting held on April 9, 2014, after consultation with the People and Organization Committee. II) Subjects for Acknowledgement:  presentations/reports were given by the respective individuals responsible for the following matters: a)  Braskem’s Results for the 1st Quarter of 2014; b) Ascent Project; c)  Comperj Project; d)  Change of the composition of the People and Organization Committee, which shall be as follows: José Carlos Cosenza, Daniel Villar, Jairo Elias Flor and Álvaro Fernandes da Cunha Filho, and the composition of the other Committees that support the BD will remain unchanged; and e)  Meetings of the People and Organization Committee and of the Finance and Investment Committee, both occurring on this date. III) Subjects of Interest to the Company: Nothing to register. IV)  Adjournment: As there were no further subjects to be discussed, these minutes were drawn up, which, after read, discussed and found to be in order, are signed by all the attending Board Members, by the Chairman and by the Secretary of the Meeting. São Paulo, May 7, 2014. Sgd: Marcelo Bahia Odebrecht – Chairman; Marcella Menezes Fagundes – Secretary; José Carlos Cosenza – Vice-Chairman; Alfredo Lisboa Ribeiro Tellechea; Álvaro Fernandes da Cunha Filho; Marcela Aparecida Drehmer Andrade; Newton Sergio de Souza; Roberto Zurli Machado; Almir Guilherme Barbassa; José Alcides Santoro Martins and Patrick Horbach Fairon.

The above matches the original recorded in the proper book.

Marcella Menezes Fagundes.