About this Report

For the first time, Odebrecht S.A. is publishing its Annual Report on the basis of the guidelines of the G4 version of the Global Reporting Initiative (GRI), in accordance with the Core option. The GRI is an international organization that has developed the most widely used model for sustainability reports in the world, with the aim of conferring organizational transparency and giving companies a standard for measuring and communicating the economic, environmental and social aspects of their performance. G4-30Click for more information on this aspect in the GRI Content Index G4-32Click for more information on this aspect in the GRI Content Index

The data presented throughout this document refer to the performance of Odebrecht S.A. during the period beginning on January 1 and ending on December 31, 2015, but the section based on qualitative information concerns a period that includes the whole of 2016. This Report contains initiatives adopted in 2016 to improve the Compliance System. The content is based on priority topics established during the materiality assessment process and through interviews with the Group’s senior management, including the CEO. The Sustainability and Communication teams were responsible for gathering the indicators and supplementary data. G4-28Click for more information on this aspect in the GRI Content Index

The financial indicators cover all operations in Brazil in which the Odebrecht Group is active and comply with International Financial Reporting Standards (IFRS), having been audited by PricewaterhouseCoopers. The social and environmental data was verified in-house. The consolidated financial statements and independent auditor’s report are available for consultation on the Odebrecht Group’s institutional website (www.odebrecht.com) in the Investors section. G4-33Click for more information on this aspect in the GRI Content Index

This report has been published in Portuguese, English and Spanish in print and digital editions and can be downloaded from www.odebrecht.com. Comments, suggestions, questions and criticisms regarding its contents, as well as the operations and initiatives of the Holding Company and its Businesses can be sent to the following email: comunicacao.holding@odebrecht.com. G4-31Click for more information on this aspect in the GRI Content Index

The content of this document was determined by identifying significant topics for sustainability management. The following were considered:

1

Topics underscored by the Odebrecht Group’s Businesses (Braskem, Construtora Norberto Odebrecht, Odebrecht Engineering & Construction International – Infrastructure and Industrial Engineering, Odebrecht Oil & Gas, Odebrecht Agroindustrial and Odebrecht Real Estate Developments) after consulting their stakeholders.

2

An image audit of the Odebrecht brand, through a survey involving over 2,000 people, conducted by the Social, Political and Economic Research Institute (Ipespe) | MCI Estratégia. In individual interviews conducted face-to-face or by telephone, and in 35 focus groups, perceptions were obtained about Odebrecht from its Members, Clients, Suppliers, Shareholders, leaders of communities impacted by Odebrecht’s operations, opinion formers (politicians, media, business and union leaders, NGOs), and as public opinion in general.

3

Topics that received major media coverage in 2015 according to the Companhia de Noticias (CDN) consulting firm when developing the Media Exposure Quality Index (IQEM). The survey covers print, Internet, radio and TV media, both Brazilian and international.

4

Principles of the UN’s Global Compact covering human rights, labor, the environment and anti-corruption. The holding company took the initiative of joining the Global Compact in the first half of 2016.

5

Aspects assessed by Transparency International, an NGO based in Berlin, which sets parameters for assessing companies, based on the transparency of the performance data they make public.

6

“What do Stakeholders Want to Know?” conducted by GRI, surveying representatives of stakeholders from several business segments.

7

Topics addressed by holding companies from different sectors of the economy in Brazil and worldwide.

The officers responsible for the Businesses’ Sustainability areas analyzed twenty topics identified as significant, which were later presented to the CEOs for their assessment. They approved and prioritized five topics for the management processes and the approach taken in this report.

MATERIALITY ASSESSMENT PROCESS

When producing the contents of this report all of the Businesses whose performance is consolidated in Odebrecht S.A.’s financial statements were considered, particularly Construtora Norberto Odebrecht S.A., Odebrecht Engenharia & Construção Internacional S.A., Braskem S.A., Odebrecht Realizações Imobiliárias e Participações S.A., Odebrecht Ambiental Participações S.A., Odebrecht Latinvest S.A., Odebrecht Óleo e Gás S.A., Odebrecht TransPort S.A., Odebrecht Agroindustrial S.A. and Odebrecht Defesa e Tecnologia S.A. The full list of subsidiaries and affiliates is detailed in the financial statements. G4-17Click for more information on this aspect in the GRI Content Index

MATERIALITY TOPICS FOR ODEBRECHT S.A.

Aspect Material topic GRI aspect and related content G4-19Click for more information on this aspect in the GRI Content Index G4-27Click for more information on this aspect in the GRI Content Index Boundaries within the Odebrecht Group G4-20Click for more information on this aspect in the GRI Content Index Boundaries outside the Odebrecht Group G4-21Click for more information on this aspect in the GRI Content Index
GOVERNANCE Ethics, transparency and integrity Transparency and Integrity G4-56Click for more information on this aspect in the GRI Content Index G4-58Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Anti-corruption G4-SO3Click for more information on this aspect in the GRI Content Index G4-SO4Click for more information on this aspect in the GRI Content Index G4-SO5Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Compliance G4-EN29Click for more information on this aspect in the GRI Content Index G4-SO8Click for more information on this aspect in the GRI Content Index G4-PR9Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Public policies G4-SO6Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Anti-Competitive Behavior G4-SO7Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Human Rights – Trade union freedom, child labor, forced labor G4-HR4Click for more information on this aspect in the GRI Content Index G4-HR5Click for more information on this aspect in the GRI Content Index G4-HR6Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Businesses’ financial performance – sustainability in the product line and services Economic performance G4-EC1Click for more information on this aspect in the GRI Content Index G4-EC2Click for more information on this aspect in the GRI Content Index G4-EC3Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Impacts of products and services G4-EN27Click for more information on this aspect in the GRI Content Index Braskem, Construtora Norberto
Odebrecht, Odebrecht Engenharia & Construção Internacional
Government, Clients, suppliers, communities, institutions
SOCIAL Local development – occupational training, work and income, arts & culture, sports, environment, health Indirect economic impacts G4-EC7Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Local communities G4-SO1Click for more information on this aspect in the GRI Content Index G4-SO1Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Commitment to People Workplace health and safety G4-LA6Click for more information on this aspect in the GRI Content Index All operations Communities, government, suppliers
Health and safety of Clients/users G4-PR1Click for more information on this aspect in the GRI Content Index Odebrecht Environmental, Odebrecht, TransPort, Odebrecht Latinvest Clients, communities, institutions
Training and education G4-LA10Click for more information on this aspect in the GRI Content Index All operations Clients, suppliers, communities, institutions
Diversity and equal opportunity G4-LA12Click for more information on this aspect in the GRI Content Index All operations Suppliers, communities, institutions, Clients
ENVIRONMENT Environment – general topics, efficient use of waste, life cycles, minimizing impacts Financial performance – climate change G4-EC2Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Emissions G4-EN15Click for more information on this aspect in the GRI Content Index G4-EN16Click for more information on this aspect in the GRI Content Index G4-EN17Click for more information on this aspect in the GRI Content Index G4-EN18Click for more information on this aspect in the GRI Content Index All operations Government, Clients, suppliers, communities, institutions
Materials G4-EN1Click for more information on this aspect in the GRI Content Index G4-EN2Click for more information on this aspect in the GRI Content Index Braskem, Construtora Norberto Odebrecht, Odebrecht Engineering & Construction International, Odebrecht Agroindustrial Clients, suppliers, communities, institutions
Energy G4-EN3Click for more information on this aspect in the GRI Content Index Braskem, Construtora Norberto Odebrecht, Odebrecht Engineering & Construction International, Odebrecht Agroindustrial Clients, suppliers, communities, institutions
Water G4-EN8Click for more information on this aspect in the GRI Content Index G4-EN10Click for more information on this aspect in the GRI Content Index Braskem, Odebrecht Agroindustrial, Odebrecht Environmental Clients, suppliers, communities, institutions, government
Waste G4-EN23Click for more information on this aspect in the GRI Content Index Braskem, Construtora Norberto Odebrecht, Odebrecht Engineering & Construction International, Odebrecht Agroindustrial, Odebrecht Oil & Gas Clients, suppliers, communities, institutions
Spills & Leaks G4-EN24Click for more information on this aspect in the GRI Content Index Odebrecht Oil & Gas, Odebrecht Agroindustrial Clients, suppliers, communities, institutions