Slide 1: Conference Call: Q3 2025
Conference Call: Q3 2025 October 29, 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: BASF Group sales declined due to currency headwinds and lower prices
BASF Group sales declined due to currency headwinds and lower prices Sales development ▪ Volumes increased overall due to Q3 2025 vs. Q3 2024 Total Volumes Prices Currency Portfolio growth in the Surface Technologies, Pro forma figures1 ▼ -3.2% ▲ 1.5% ▼ -1.7% ▼ -3.9% ▲ 0.9% Chemicals and Materials s
Slide 4: Q3 2025 snapshot: Market development and BASF's performance
Q3 2025 snapshot: Market development and BASF’s performance Market environment Volume development Specific margin Chemicals Materials Core businesses Industrial Solutions Nutrition & Care Surface Technologies1 Standalone businesses Agricultural Solutions Impact on BASF’s EBITDA before special items
Slide 5: Q3 2025: EBITDA before special items only slightly below prior-year quarter
Q3 2025: EBITDA before special items only slightly below prior-year quarter, despite strong market and currency headwinds BASF Industrial Nutrition Surface Agricultural BASF Group Chemicals Materials Solutions1 & Care Technologies1, 2 Solutions Other Group 1,622 22 1,544 EBITDA before -80 31 179 spe
Slide 6: We are on track with the stepwise startup of our Zhanjiang Verbund site
We are on track with the stepwise startup of our Zhanjiang Verbund site Expected EBITDA before special items (million €) ▪ Mechanical completion of steam cracker achieved in 1,000-1,200 1,200 October 2025 ▪ Tight budgetary discipline, 800 scope changes and excellence in procurement led to capex redu
Slide 7: Zhanjiang Verbund site: focusing on commissioning and handover to operations
Zhanjiang Verbund site: We are now focusing on commissioning and the handover to operations May 2025 October 2025 B200/ Cracker Cracker 7 October 29, 2025 | BASF Conference Call: Q3 2025 Construction Commissioning Operation
Slide 8: BASF and Carlyle reach binding transaction agreement on coatings business
BASF and Carlyle reach binding transaction agreement on coatings business to create a leading standalone company Ownership structure post closing ▪ Significant step in unlocking the value of BASF’s 1 standalone businesses, as we swiftly execute our “Winning Ways” strategy ▪ Enterprise value of the t
Slide 9: Implications of the coatings transaction on statement of income and cash flows
Implications of the coatings transaction agreed with Carlyle on BASF’s statement of income and statement of cash flows Until closing As of closing P&L P&L ▪ BASF will report the business of the transaction as ▪ BASF’s minority stake will be accounted for as a financial discontinued operations as of
Slide 10: Figures including and excluding discontinued operations
Figures including and excluding discontinued operations Financial figures Q3 Million € 2025 pro forma1 2024 reported1 +/- % 20252 2024 restated2 +/- % Sales 15,230 15,739 -3.2 14,328 14,816 -3.3 EBITDA before special items 1,544 1,622 -4.8 1,430 1,478 -3.2 EBITDA 1,307 1,277 2.4 1,207 1,163 3.8 Depr
Slide 11: Portfolio measures strengthen balance sheet and bring forward share buybacks
Our successful portfolio measures enable us to strengthen our balance sheet and bring forward share buybacks Cash contributions Cash allocations ▪ Sale of food and health performance ingredients ▪ Confirmed ordinary dividend of at least business (closed Sept. 30, 2025) and of Brazilian €2.25 per sha
Slide 12: BASF to begin share buyback in November 2025
BASF to begin share buyback in November 2025 ▪ At the CMD in September 2024, BASF had announced share buybacks of at least €4 billion between 2027 and 2028 ▪ Given the considerable cash proceeds already received and further proceeds expected, BASF will begin buying back shares significantly earlier
Slide 13: BASF Group Q1-Q3 2025: Key financial figures
BASF Group EBITDA before special items EBITDA margin bsi (excl. metals)2 Q1-Q3 2025: Key financial figures1 €5,941m 13.6% Q1-Q3 2025 vs. Q1-Q3 2024 -€350m -0.3ppt EBIT before special items Net income €3,067m €1,059m -€290m -€1,025m Operating cash flow Free cash flow €1,974m -€868m -€1,515m -€450m 1
Slide 14: Cash flow development in Q1-Q3 2025 and Q3 2025
Cash flow development in Q1-Q3 2025 and Q3 2025 Q1-Q3 2025 (million €) Q3 2025 (million €) Q3 2025 vs. Q3 2024 1,974 1,371 ▪ Cash flows from operating activities decreased by €681 million to €1.4 billion, mainly due to cash tied up in other operating assets ▪ Payments made for property, plant and eq
Slide 15: Outlook 2025 for BASF Group – confirmed but technically adjusted
Outlook 2025 for BASF Group – confirmed but technically adjusted Previous Technically adjusted Zhanjiang startup forecast1 forecast2 impact 20253 EBITDA before special items 7.3 – 7.7 6.7 – 7.1 minus ~0.4 (billion €) Free cash flow 0.4 – 0.8 0.4 – 0.8 (unchanged) minus ~0.8 (billion €) CO2 emissions
Slide 16: We create chemistry
O- BASF We create chemistry
Slide 17: Chemicals
Chemicals EBITDA before special items (million €) Segment cash flow (million €) -38 342 336 -176 262 -363 -390 209 103 -726 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Sales development Total Volumes Prices Currencies Portfolio Q3 2025 vs. Q3 2024 ▼ -6.9% ▲ 3.7% ▼
Slide 18: Materials
Materials EBITDA before special items (million €) Segment cash flow (million €) 484 338 469 299 408 408 365 246 256 44 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Sales development Total Volumes Prices Currencies Portfolio Q3 2025 vs. Q3 2024 ▼ -7.6% ▲ 1.5% ▼ -5.4
Slide 19: Industrial Solutions
Industrial Solutions EBITDA before special items1 (million €) Segment cash flow1 (million €) 378 361 416 308 307 403 291 353 224 142 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Sales development Total Volumes Prices Currencies Portfolio Q3 2025 vs. Q3 2024 ▼ -8.8%
Slide 20: Nutrition & Care
Nutrition & Care EBITDA before special items (million €) Segment cash flow (million €) 52 230 201 196 168 -27 -34 -38 134 -103 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Sales development Total Volumes Prices Currencies Portfolio Q3 2025 vs. Q3 2024 ▼ -4.3% ▼ -4.
Slide 21: Surface Technologies
Surface Technologies EBITDA before special items1, 2 (million €) Segment cash flow1, 2 (million €) 274 328 101 170 172 63 118 16 70 -2 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Sales development2 Total Volumes Prices Currencies Portfolio Q3 2025 vs. Q3 2024 ▲ 17
Slide 22: Agricultural Solutions
Agricultural Solutions EBITDA before special items (million €) Segment cash flow (million €) 1,204 959 811 612 465 394 417 80 -978 49 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Sales development Total Volumes Prices Currencies Portfolio Q3 2025 vs. Q3 2024 ▼ -5.4
Slide 23: Review of "Other"
Review of “Other” Financial figures Q3 2025 Change Q1-Q3 2025 Change Million € % Million € % Sales1 828 0.1 2,445 0.6 EBITDA before special items1 -73 22.6 -460 22.2 of which Costs of corporate research -38 17.3 -112 13.5 Costs of corporate headquarters -58 -4.9 -177 -2.1 Other businesses 92 125.3 1
Slide 24: Balance sheet
Balance sheet1 ▪ Total assets decreased by €4.0 billion Million € Sep. 30, 2025 Dec. 31, 2024 Change to €76.4 billion, due to lower noncurrent assets Total assets 76,441 80,415 -4.9% ▪ Equity ratio amounts to 44.4% Noncurrent assets 43,353 49,183 -11.9% compared with 45.9% at the end of 2024 Current