Slide 1: BASF Conference Call: FY 2025
BASF Conference Call: FY 2025 February 27, 2026 October 30, 2024
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: Q4 2025: Higher volumes but negative currency effects and lower prices
Q4 2025: Higher volumes but negative currency effects and lower prices Sales development1 Volumes increased slightly; all Q4 2025 vs. Q4 2024 Total Volumes Prices Currency Portfolio segments contributed to volume BASF Group growth except for Chemicals ▼ -9.0% ▲ 0.8% ▼ -4.4% ▼ -5.0% ▼ -0.4% (exclud
Slide 4: Q4 2025 snapshot: Market development and BASF's performance
Q4 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: FY 2025: EBITDA before special items declined
FY 2025: EBITDA before special items declined, mainly due to pressure on upstream margins and negative currency effects BASF Industrial Nutrition Surface Agricultural BASF Group Chemicals Materials Solutions1 & Care Technologies1, 2 Solutions Other2 Group 7,240 -489 143 6,554 330 EBITDA before -230
Slide 6: Coatings
Agricultural Coatings Solutions Coatings business Full year 2025 (excl. decorative paints) €9.6 billion sales BASF and Carlyle reached €2.1 billion EBITDA bsi transaction agreement in Oct. 2025 to create a leading €1.5 billion segment cash flow standalone company BASF will receive pre-tax
Slide 7: BASF Agricultural Solutions to acquire biological insect control group AgBiTech
BASF Agricultural Solutions to acquire biological insect control group AgBiTech AgBiTech has pioneered the use of nucleopoly- hedrovirus technology to develop insect control solutions based on naturally occurring viruses With operations in Brazil, the U.S., and Australia, the company serves farm
Slide 8: We successfully started up all major assets at our Zhanjiang Verbund site
We successfully started up all major assets at our Zhanjiang Verbund site New Verbund site in Zhanjiang, China Investment of €8.7 billion from 2019 to 2028; plants of the “Achieving one of the fastest cracker startups ever is a Verbund incl. flex-feed steam cracker successfully started up remarkab
Slide 9: MDI capacity expansion in Geismar nears completion
MDI capacity expansion in Geismar nears completion MDI expansion in Geismar, Louisiana With ~$1.0 billion, the MDI expansion is BASF’s largest investment in North America Production capacity will double to ~600,000 metric tons per year; startup planned in Q3 2026 Investment leverages state-of-
Slide 10: BASF Group FY 2025: Key financial figures
BASF Group FY 2025: Key financial figures FY 2025 vs. FY 2024 EBITDA before special items1 Net income €6,554m €1,619m -€686m +€321m Adjusted EBITDA margin bsi1, 2 Free cash flow 12.3% €1,342m -0.6ppt +€595m 1 Excluding discontinued coatings business 2 EBITDA margin before special items excluding sal
Slide 11: Free cash flow exceeded prior-year figure considerably
Free cash flow exceeded prior-year figure considerably, supported by lower capex FY 2025 (million €) Q4 2025 (million €) FY 2025 vs. FY 2024 Cash flows from operating activities declined (2025: €5.6 billion; 2024: €6.9 billion), mainly due to an increase 5,610 in precious metal trading positions
Slide 12: We will strengthen our balance sheet by further reducing net debt in 2026
We will strengthen our balance sheet by further reducing net debt in 2026 Total assets decreased by €4.2 billion Million € Dec. 31, 2025 Dec. 31, 2024 Change to €76.2 billion, due to lower noncurrent assets, mainly on account of FX effects Total assets 76,174 80,415 -5.3% Equity ratio of 45.1% c
Slide 13: Capex to come down significantly and stay below depreciation in 2026 and beyond
Capex to come down significantly and stay below depreciation in 2026 and beyond Capex forecast (billion €) Additions to property, plant and equipment excluding acquisitions, IT investments, restoration obligations and right-of-use assets arising from leases 19.5 -17% 16.2 Prior capex -20% forecasts
Slide 14: We accelerated our cost savings and now expect ~€2.3 billion by end of 2026
We accelerated our cost savings and now expect ~€2.3 billion by end of 2026 Billion € ~2.3 +0.2 1.7 +0.1 We are actively streamlining our global 1.0 2.1 organization 1.6 0.7 Since Dec. 31, 2023, 0.6 0.5 within the BASF Group 0.4 +0.3 -0.2 we have reduced: 0.4 ~0.3 − the number of senior By Dec.3
Slide 15: Next value-creation step in BASF's service organizations
Next value-creation step in BASF’s service organizations – streamlining units to meet needs of the core businesses Global Digital Services Global Business Services Rationalizing BASF’s IT application landscape Streamlining our service portfolio, driving and sharpening our digital service portfol
Slide 16: We deliver on our attractive shareholder distribution policy
We deliver on our attractive shareholder distribution policy Shareholder distributions via dividends Dividend and share buybacks 2025-2028: Dividend proposal for 2025 to the Annual Shareholders’ Meeting of €2.25 per share Dividend yield of 5.1% based on the share price of At least €12 €2.25 €44.
Slide 17: Outlook 2026 for BASF Group
Outlook BASF Group 2025 BASF Group 2026 2026 for actual forecast BASF Group EBITDA before special items (billion €) 6.6 6.2 – 7.0 Free cash flow 1.3 1.5 – 2.3 (billion €) CO2 emissions1 16.1 17.2 – 18.2 (million metric tons) 1 Scope 1 and Scope 2 Underlying Growth in Growth in Growth in Average Aver
Slide 18: Priorities for 2026
Priorities for 2026 Reduce costs structurally, bring down capex and increase plant utilization Successfully ramp up Verbund site in Zhanjiang and MDI plant in Geismar Execute on value-enhancing portfolio measures Winning Culture Value Creation 18 February 27, 2026 | BASF Conference Call: FY 2025
Slide 19: We create chemistry
O=- BASF We create chemistry
Slide 20: Outlook 2026 by segment
Outlook 2026 by segment EBITDA before special items1 Segment cash flow1 Million € 2025 2026 forecast 2025 2026 forecast Chemicals 853 Considerable increase -1,182 Considerable increase Materials 1,575 Slight decrease 1,054 Considerable decrease Industrial Solutions 1,200 Slight increase 1,061 Slight
Slide 21: BASF Group Q4 2025 and FY 2025: Financial figures
BASF Group Q4 2025 and FY 2025: Financial figures Q4 2025 Change FY 2025 Change Million € % Million € % Sales1 14,032 -5.6 59,657 -2.9 EBITDA before special items1 1,033 -27.9 6,554 -9.5 EBITDA1 1,019 -8.2 5,618 -9.5 EBIT before special items1 76 -84.1 2,887 -18.1 EBIT1 -153 63.9 1,634 -9.7 Net inco
Slide 22: Chemicals
Chemicals EBITDA before special items (million €) Segment cash flow (million €) 1,342 103 853 -577 -726 -1,182 46 -2,051 Q4 2024 Q4 2025 FY 2024 FY 2025 Q4 2024 Q4 2025 FY 2024 FY 2025 Sales development Total Volumes Prices Currencies Portfolio Q4 2025 vs. Q4 2024 ▼ -10.7% ▼ -2.0% ▼ -9.5% ▼ -4.2% ▲
Slide 23: Materials
Materials EBITDA before special items (million €) Segment cash flow (million €) 1,805 1,575 1,054 417 766 365 289 246 Q4 2024 Q4 2025 FY 2024 FY 2025 Q4 2024 Q4 2025 FY 2024 FY 2025 Sales development Total Volumes Prices Currencies Portfolio Q4 2025 vs. Q4 2024 ▼ -10.5% ▲ 0.2% ▼ -5.9% ▼ -4.9% – FY 2
Slide 24: Industrial Solutions
Industrial Solutions EBITDA before special items1 (million €) Segment cash flow1 (million €) 1,437 1,102 1,200 1,061 416 343 308 242 Q4 2024 Q4 2025 FY 2024 FY 2025 Q4 2024 Q4 2025 FY 2024 FY 2025 Sales development Total Volumes Prices Currencies Portfolio Q4 2025 vs. Q4 2024 ▼ -8.6% ▲ 1.1% ▼ -3.9%
Slide 25: Nutrition & Care
Nutrition & Care EBITDA before special items (million €) Segment cash flow (million €) 814 649 97 168 89 -38 -31 -67 Q4 2024 Q4 2025 FY 2024 FY 2025 Q4 2024 Q4 2025 FY 2024 FY 2025 Sales development Total Volumes Prices Currencies Portfolio Q4 2025 vs. Q4 2024 ▼ -5.4% ▲ 2.4% ▼ -2.5% ▼ -4.1% ▼ -1.1%
Slide 26: Surface Technologies
Surface Technologies EBITDA before special items1, 2 (million €) Segment cash flow1, 2 (million €) 627 800 415 470 292 130 70 16 Q4 2024 Q4 2025 FY 2024 FY 2025 Q4 2024 Q4 2025 FY 2024 FY 2025 Sales development2 Total Volumes Prices Currencies Portfolio Q4 2025 vs. Q4 2024 ▲ 13.9% ▲ 11.5% ▲18.7% ▼ -
Slide 27: Agricultural Solutions
Agricultural Solutions EBITDA before special items (million €) Segment cash flow (million €) 2,081 1,861 1,206 1,938 1,505 959 394 381 Q4 2024 Q4 2025 FY 2024 FY 2025 Q4 2024 Q4 2025 FY 2024 FY 2025 Sales development Total Volumes Prices Currencies Portfolio Q4 2025 vs. Q4 2024 ▼ -3.8% ▲ 3.6% ▼ -0.7
Slide 28: Review of "Other"
Review of “Other” Financial figures Q4 2025 Change FY 2025 Change Million € % Million € % Sales1 757 -12.0 3,202 -2.7 EBITDA before special items1 -144 . -604 -6.7 of which Costs of corporate research -56 -4.1 -168 8.3 Costs of corporate headquarters -65 -9.6 -241 -4.0 Other businesses -13 . 175 -3.