Geological Event Liabilities: Ongoing legal, financial, and reputational risks stemming from the geological event in Maceió, Brazil, including provisions for indemnities, remediation, and potential future claims that continue to impact financial performance and cash flow.

Commodity Price Volatility: Exposure to significant fluctuations in the prices of raw materials like naphtha and ethane, as well as the selling prices of petrochemical products, directly impacting profit margins and financial stability due to the cyclical nature of the industry.

Foreign Exchange Risk: Vulnerability to adverse movements in foreign currency exchange rates, particularly between the Brazilian Real and the U.S. Dollar, affecting the value of its U.S. Dollar-denominated debt, revenues, and operating costs from international operations.