Slide 1: BASF Conference Call: Q2 2025
BASF Conference Call: Q2 2025 July 30, 2025
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the fu
Slide 3: Sales almost at prior-year quarter level thanks to volume growth
Sales almost at prior-year quarter level thanks to volume growth Sales development ▪ Adjusted sales1 of €14.1 billion and Q2 2025 vs. Q2 2024 Volumes Prices Currency Portfolio reported sales1 of €15.8 billion, BASF Group adjusted1 ▲ 2.5% ▼ -3.9% ▼ -3.5% ▲ 0.5% almost at prior-year quarter level BASF
Slide 4: Q2 2025 snapshot: Market development and BASF's performance
Q2 2025 snapshot: Market development and BASF’s performance Market environment Volume development Specific margin Chemicals Materials Core businesses Industrial Solutions Nutrition & Care Surface Technologies Standalone businesses Agricultural Solutions Impact on BASF’s EBITDA before special items i
Slide 5: Q2 2025 EBITDA before special items declined
Q2 2025: EBITDA before special items declined by 9% due to depressed upstream margins BASF Industrial Nutrition Surface Agricultural BASF Group Chemicals Materials Solutions1 & Care Technologies1 Solutions Other Group 1,957 282 1,772 EBITDA before -176 -235 31 special items -39 13 Q2 2025 vs. -60 Q2
Slide 6: Agricultural Solutions with strong EBITDA before special items
Agricultural Solutions with strong EBITDA before special items in Q2 2025 Sales development Volumes Prices Currency Portfolio Q2 2025 vs. Q2 2024 ▲ 21.1% ▼ -1.6% ▼ -6.0% - H1 2025 vs. H1 2024 ▲ 4.0% ▼ -1.5% ▼ -2.7% - EBITDA before special items (million €) and corresponding margin 1,496 1,621 28% 30
Slide 7: Surface Technologies with strong earnings
Surface Technologies with strong earnings, outperforming the automotive market Sales development Q2 2025 vs. Q2 2024 Volumes Prices Currency Portfolio Surface Technologies ▲ 6.5% ▲ 0.2% ▼ -5.3% ▼ -0.2% adjusted1, 2 Coatings ▲ 7.1% ▲ 1.5% ▼ -5.7% ▼ -0.3% Battery Materials1 ▲ 17.0% ▼ -27.6% ▼ -4.7% -
Slide 8: Active portfolio management
Active portfolio management Sale of Brazilian decorative Market approached in Q2 2025 IPO readiness of Agricultural paints business expected to to explore strategic options for Solutions division targeted close in the second half coatings activities excluding by 2027; current focus on of 2025 decora
Slide 9: BASF Group H1 2025: Key financial figures
BASF Group EBITDA before special items Adjusted EBITDA margin bsi1 H1 2025: Key financial figures €4,397m 14.6% H1 2025 vs. H1 2024 -€272m -0.5ppt EBIT before special items Net income €2,474m €887m -€249m -€910m Operating cash flow Free cash flow €603m -€1,266m -€834m -€279m 1 EBITDA margin before s
Slide 10: Cash flow development in H1 2025 and Q2 2025
Cash flow development in H1 2025 and Q2 2025 H1 2025 (million €) Q2 2025 (million €) Q2 2025 vs. Q2 2024 ▪ Cash flows from operating activities 603 decreased by €365 million to €1.6 billion, 1,585 mainly due lower cash inflows from changes in net working capital ▪ Payments made for property, plant a
Slide 11: We are executing measures to protect our balance sheet
We are executing measures to protect our balance sheet ▪ At €5.0 billion, payments made for property, plant and Maintain financial strength equipment and intangible assets in 2025 are expected to be €200 million lower than forecasted in February; as of 2026, We are committed to our prudent the figur
Slide 12: We have secured natural gas supply for BASF in Europe
We have secured natural gas supply for BASF in Europe – ensuring competitive- ness, flexibility and sustainability Long-term contract with Equinor ▪ Agreement covering a substantial share of BASF’s European gas needs, based on Norwegian natural gas ▪ Ensures competitive terms, low PCF, and long-term
Slide 13: Outlook 2025 for BASF Group
Outlook 2025 for BASF Group Adjusted Previous Zhanjiang startup forecast forecast impact 20251 EBITDA before special 7.3 – 7.7 8.0 – 8.4 minus ~0.4 items (billion €) Free cash flow 0.4 – 0.8 (unchanged) 0.4 – 0.8 minus ~0.8 (billion €) CO2 emissions2 16.7 – 17.7 (unchanged) 16.7 – 17.7 (million metr
Slide 14: We are consistently executing our Winning Ways strategy
We are consistently executing our “Winning Ways” strategy and focus on those things that are in our control Execute value-enhancing portfolio measures Start up new Verbund site in Zhanjiang Structurally reduce costs and bring down capex Drive change towards a winning culture Winning Culture Value Cr
Slide 15: BASF Report and Annual Shareholders' Meeting
BASF Report to be published at the end of February; format of BASF Annual Shareholders’ Meeting to alternate annually BASF Report Annual Shareholders’ Meeting ◼ Process efficiency gains allow the return to the ◼ Virtual ASM on May 2, 2025, went smoothly and former publication schedule expected cost
Slide 16: We create chemistry
O- BASF We create chemistry
Slide 17: BASF Group Q2 2025 and H1 2025
BASF Group Q2 2025 vs. Q2 2024 and H1 2025 vs. H1 2024 Financial figures Q2 2025 Change H1 2025 Change Million € % Million € % Sales 15,769 -2.1 33,171 -1.5 EBITDA before special items 1,772 -9.4 4,397 -5.8 EBITDA 1,475 -5.6 3,653 -13.4 EBIT before special items 810 -16.4 2,474 -9.1 EBIT 494 -4.3 1,
Slide 18: Chemicals
Chemicals EBITDA before special items (million €) Segment cash flow (million €) 444 342 336 -176 209 -406 -363 -390 103 -726 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2025 Q3 2025 Q4 2024 Q1 2025 Q2 2025 Sales development Total Volumes Prices Currencies Portfolio Q2 2025 vs. Q2 2024 ▼-11.9% ▼ -0.6%
Slide 19: Materials
Materials EBITDA before special items (million €) Segment cash flow (million €) 484 448 469 299 408 365 246 256 137 44 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Sales development Total Volumes Prices Currencies Portfolio Q2 2025 vs. Q2 2024 ▼ -5.1% ▲ 1.5% ▼ -3.4
Slide 20: Industrial Solutions
Industrial Solutions EBITDA before special items1 (million €) Segment cash flow1 (million €) 367 378 361 403 416 308 307 224 167 142 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Sales development Total Volumes Prices Currencies Portfolio Q2 2025 vs. Q2 2024 ▼ -9.1%
Slide 21: Nutrition & Care
Nutrition & Care EBITDA before special items (million €) Segment cash flow (million €) 52 19 230 183 201 196 168 -27 -38 -103 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Sales development Total Volumes Prices Currencies Portfolio Q2 2025 vs. Q2 2024 ▼ -2.9% ▼ -3.9
Slide 22: Surface Technologies
Surface Technologies EBITDA before special items1 (million €) Segment cash flow1 (million €) 350 319 307 264 185 173 211 98 33 46 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Sales development Total Volumes Prices Currencies Portfolio Q2 2025 vs. Q2 2024 ▲ 11.0% ▲
Slide 23: Agricultural Solutions
Agricultural Solutions EBITDA before special items (million €) Segment cash flow (million €) 1,204 1,005 959 811 612 394 417 135 -978 49 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Sales development Total Volumes Prices Currencies Portfolio Q2 2025 vs. Q2 2024 ▲ 1
Slide 24: Review of "Other"
Review of “Other” Financial figures Q2 2025 Change H1 2025 Change Million € % Million € % Sales 715 -17.9 1,618 0.7 EBITDA before special items -114 . -396 20.6 of which Costs of corporate research -37 10.6 -74 11.4 Costs of corporate headquarters -60 -3.8 -119 -0.8 Other businesses 64 -5.7 82 -6.3
Slide 25: Balance sheet
Balance sheet ▪ Total assets decreased by €2.7 billion Million € June 30, 2025 Dec. 31, 2024 Change to €77.7 billion, due to lower noncurrent assets Total assets 77,668 80,415 -3.4% ▪ Equity ratio amounts to 43.1% Noncurrent assets 45,769 49,183 -6.9% compared with 45.9% at the end of 2024 Current a