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BASF Conference Call: Q2 2026 July 29, 2026
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2 July 29, 2026 | BASF Conference Call: Q2 2026 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 future developments and results outlined therein. These are dependent on a number of factors; they involve various risks and uncertainties; and they are based on assumptions that may not prove to be accurate. BASF does not assume any obligation to update the forward-looking statements contained in this presentation above and beyond the legal requirements.
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3 July 29, 2026 | BASF Conference Call: Q2 2026 Major progress on “Winning Ways” strategy achieved Winning Culture Value Creation We reduced costs structurally, brought down capex and increased plant utilization We successfully ramped up Verbund site in Zhanjiang We executed on value- enhancing portfolio measures 3 July 29, 2026 | BASF Conference Call: Q2 2026
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4 July 29, 2026 | BASF Conference Call: Q2 2026 BASF sharply increased prices and volumes in Q2 2026 Q2 2026 vs. Q2 20251: -5% 0% -7% 0% -7% 4% -6% 0% -3% 10% -3% -1% 8% 5% -2% -1% 11% 7% -2% -1% 11% 13% 0% -1% Prices Volumes Currency Portfolio Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun Monthly sales development 20261 % vs. prior-year month 1 Excluding Coatings business sold to Carlyle and excluding sales from precious and base metal services as well as precious and base metal sales in the Battery Materials and Environmental Catalyst and Metal Solutions divisions. ▪ We increased prices, particularly in the Chemicals and Materials segments ▪ We captured volume growth in all segments except Surface Technologies ▪ Currency headwinds eased ▪ Portfolio effects slightly burdened sales growth
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5 July 29, 2026 | BASF Conference Call: Q2 2026 Sales increases achieved across all regions . North America South America, Africa, Middle East Volumes Prices ▼ -1.5% ▲ 8.6% Asia Pacific (w/o Greater China) Greater China Volumes Prices ▲ 23.4% ▲ 10.0% Europe Volumes Prices ▲ 5.8% ▲ 13.0% Volumes Prices ▲ 19.2% ▲ 9.6% Volumes Prices ▲ 11.4% ▼ -1.8% Volume and price development by region1 Q2 2026 vs. Q2 2025 (excluding metals) 1 By location of customer. Excluding Coatings business sold to Carlyle and excluding sales from precious and base metal services as well as precious and base metal sales in the Battery Materials and Environmental Catalyst and Metal Solutions divisions.
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6 July 29, 2026 | BASF Conference Call: Q2 2026 Q2 2026: Strong increase in EBITDA before special items driven by all segments except Surface Technologies BASF Group1 Chemicals Materials Industrial Solutions Nutrition & Care Surface Technologies1 Agricultural Solutions Other1 BASF Group1 1,595 168 383 127 8 -57 31 194 2,449 377 792 434 204 115 448 80 EBITDA before special items by segment Q2 2026 (million €) EBITDA before special items Q2 2026 vs. Q2 2025 (million €) 1 Excluding Coatings business sold to Carlyle
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7 July 29, 2026 | BASF Conference Call: Q2 2026 Agricultural Solutions delivered very robust performance in H1 2026 H1 2026 sales by indication (%) 1,621 1,550 H1 2025 H1 2026 29%30% EBITDA before special items (million €), corresponding margin (%) Sales development Total Volumes Prices Currencies Portfolio H1 2026 vs. H1 2025 ▼ -1.6% ▲ 3.2% ▼ -1.3% ▼ -3.6% ▲ 0.1% 32% 30% 23% 10% 5% Fungicides Seeds & Traits Seed Treatment Insecticides €5,315 Herbicides 7 July 29, 2026 | BASF Conference Call: Q2 2026
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8 July 29, 2026 | BASF Conference Call: Q2 2026 In May 2026, FTE at BASF SE brought below 30,000 – for the first time since 1954 We are accelerating the streamlining of our global organization ~1,000 ~3,500 ~2,400 2024 2025 H1 2026 ~7,000 Since January 1, 2024, BASF Group has reduced the number of employees1 by H1 2026 personnel reduction1 exceeds combined reduction in 2024 and 2025 1 Reduction of number of employees excluding reduction due to divestitures and excluding build-up due to the Zhanjiang Verbund site 8 July 29, 2026 | BASF Conference Call: Q2 2026
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9 July 29, 2026 | BASF Conference Call: Q2 2026 We are strengthening the competitiveness of the Ludwigshafen site ▪ Restructuring of asset base in Ludwigshafen is well advanced ▪ Share of highly competitive production units at the site increased by 10 percentage points ▪ Asset portfolio will be continuously monitored and adjusted to ensure long-term competitiveness Competitiveness of more than 850 production units at the Ludwigshafen Verbund site 78% High competitiveness 2026 High competitiveness 2024 Competitiveness riskHigh competitiveness 22% 88% 12%
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10 July 29, 2026 | BASF Conference Call: Q2 2026 We are on track to achieve the targeted cost savings of ~€2.3 billion by end of 2026 ▪ By the end of June 2026, we achieved cost savings of ~€2.0 billion (run rate) ▪ Cumulative one-time costs of ~€1.9 billion expected by year-end 2026 (Expected) annual cost savings (run rate) (Expected) one-time costs Due to rounding, individual figures may not add up exactly to the totals shown Billion € 0.6 1.0 1.7 ~2.3 0.4 0.5 0.7 ~0.3 By Dec. 31, 2023 By Dec. 31, 2024 By Dec. 31, 2025 By Dec. 31, 2026
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11 July 29, 2026 | BASF Conference Call: Q2 2026 ▪ Pre-tax cash proceeds of ~€5.8 billion received in Q2 2026; net cash inflow of ~€5.6 billion reported in cash flows from investing activities ▪ Disposal gain after taxes of €3.5 billion recognized in income after taxes from discontinued operations ▪ Future upside for BASF from 40% equity share in Surventis, comprising surface treatment, automotive OEM coatings and automotive refinish coatings businesses 1 Funds managed by global investment firm Carlyle (NASDAQ: CG), in partnership with Qatar Investment Authority (QIA) 11 July 29, 2026 | BASF Conference Call: Q2 2026 New name and ownership structure since closing equity share 60%Carlyle1 equity share BASF 40% BASF successfully completed the Coatings transaction with Carlyle
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12 July 29, 2026 | BASF Conference Call: Q2 2026 ▪ Since March 2026, BASF generated cash proceeds of more than €800 million from the sale of Harbour Energy shares ▪ Remaining stake of just under 25% of the voting shares currently worth roughly €1 billion ▪ The participation in Harbour Energy is considered a financial investment and it is BASF’s strategy to exit it over time, being mindful of value © Harbour Energy plc BASF accelerated the sell-down of its financial participation in Harbour Energy 12 July 29, 2026 | BASF Conference Call: Q2 2026
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13 July 29, 2026 | BASF Conference Call: Q2 2026 Cash fixed costs1 reduction in the core2 H1 2026 vs. H1 2025 -4% CoreShift: Creating a new operating model for the core 1 Adjusted for currency, portfolio and one-time effects (on a comparable basis) 2 Core businesses, comprising the segments Chemicals, Materials, Industrial Solutions and Nutrition & Care, and Other ▪ Successful strategy implementation creates new opportunities for BASF to leverage synergies in the core ▪ CoreShift aims to operate the core at up to 20% lower net cash fixed costs by 2029 versus 2024 baseline ▪ We are creating a new operating model for our core by: − Focusing activities on what truly matters − Harmonizing processes and expanding the use of AI − Standardizing systems and tools to leverage synergies − Increasing flexibility in task location and organizational design We change what holds us back and boost what makes us strong 13 July 29, 2026 | BASF Conference Call: Q2 2026
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14 July 29, 2026 | BASF Conference Call: Q2 2026 BASF Group H1 2026: Key financial figures H1 2026 vs. H1 2025 Free cash flow -€1,564m -€298m EBITDA before special items €4,805m +€715m Cash fixed costs €7,876m -€351m (-4%) Net income €5,072m +€4,184m
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15 July 29, 2026 | BASF Conference Call: Q2 2026 Cash flow development in Q2 2026 H1 2026 (million €) -273 -1,564-1,291 Cash flows from operating activities Payments made for property, plant and equipment and intangible assets Free cash flow H1 2026 Q2 2026 vs. Q2 2025 ▪ Cash flows from operating activities decreased by €1.1 billion to €524 million, mainly due to higher cash tied up in net working capital ▪ Payments made for property, plant and equipment and intangible assets reduced by €340 million to €713 million ▪ Free cash flow came in at -€189 million compared with €533 million in Q2 2025 Q2 2026 (million €) 524 -189-713 Cash flows from operating activities Payments made for property, plant and equipment and intangible assets Free cash flow Q2 2026
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16 July 29, 2026 | BASF Conference Call: Q2 2026 We are taking a balanced approach to capital allocation in line with our “Winning Ways” strategy 1 With the payments of ~€800 million in Q1 2026 and ~€900 million in H2 2025, the insurance claims of Wintershall Dea under the capital coverage have been settled. Cash contributions ▪ Consistent execution of portfolio measures in standalone businesses: − Sale of decorative paints business to Sherwin Williams closed on October 1, 2025 − Coatings transaction with Carlyle closed on June 30, 2026 − Transactions value former Coatings division at an implied 2024 EV/EBITDA multiple before special items of ~13x ▪ Further monetization of oil and gas: − Proceeds from sale of part of BASF’s Harbour Energy shares of more than €800 million in H1 2026 − Payments from Wintershall Dea related to federal investment guarantees of ~€1.7 billion1 Cash allocations ▪ Shareholder distributions 2025-2028 of at least €12 billion via dividends and share buybacks: − Thereof around €8 billion in dividends equaling at least €2.25 per share annually − Thereof at least €4 billion in share buybacks: ~€1.5 billion program concluded at the end of June; ~€1.0 billion program to be executed between August 2026 and April 2027 ▪ Net debt reduction, including early bond and loan repayments in 2026, to support single A credit rating ▪ Capex (excl. intangibles) from 2026 to 2029 to be reduced by 20% compared with 2025 to 2028 ▪ Value-accretive M&A as a potential lever to strengthen and grow the core businesses
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17 July 29, 2026 | BASF Conference Call: Q2 2026 Shareholder distributions via dividends and share buybacks 2025-2028: Overall distribution on the level of the last years At least €12 billion At least €2.25 annual dividend per share ▪ Own shares with a volume of up to €1.0 billion to be repurchased from August 2026 until April 2027 ▪ New program is part of the €4 billion share buyback announced in September 2024 until the end of 2028 ▪ Shares with a total value of around €1.5 billion have already been repurchased between November 2025 and June 2026 BASF to begin new share buyback program in August 2026
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18 July 29, 2026 | BASF Conference Call: Q2 2026 BASF continues to focus on deleveraging 1,000 250 400 500 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Repayment scheme 2026 (million €) Repaid bonds/loans Outstanding bonds/loans maturing in 2026 Repayment of bonds and loans ahead of maturities in Q3 20261,600 Selected outstanding bonds/loans maturing after 2026 1 Fitch: A/F1/outlook stable, Moody’s: A3/P-2/outlook stable, S&P: A-/A-2/outlook stable ▪ BASF’s equity ratio increased by 1.5 percentage points to 44.6% ▪ Net debt declined by €4.2 billion to €17.0 billion ▪ In H1 2026, BASF repaid maturing bonds and loans totaling ~€1.25 billion ▪ In H2 2026, bonds and loans totaling €2.5 billion to be repaid, thereof ~€1.6 billion ahead of maturities ▪ BASF strives to maintain its single A credit ratings1 Million € June 30, 2026 June 30, 2025 Change Total assets 83,867 77,668 +8.0% Equity ratio 44.6% 43.1% +1.5ppt Net debt 17,117 21,281 -19.6%
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19 July 29, 2026 | BASF Conference Call: Q2 2026 1 As published on February 27, 2026 2 Scope 1 and Scope 2 Outlook 2026 for BASF Group Adjusted forecast Previous forecast1 EBITDA before special items (billion €) 6.9 – 7.7 6.2 – 7.0 Free cash flow (billion €) 1.5 – 2.3 (unchanged) 1.5 – 2.3 CO2 emissions2 (million metric tons) 17.2 – 18.2 (unchanged) 17.2 – 18.2 ($65 per barrel)($1.20 per euro)(+2.4%)(+2.3%)(+2.7%) Growth in gross domestic product Growth in industrial production Growth in chemical production Average euro/dollar exchange rate Average annual oil price (Brent crude) +2.5% +2.0% +1.8% $1.17 per euro $80 per barrel Underlying assumptions Previous assumptions published on February 27, 2026
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21 July 29, 2026 | BASF Conference Call: Q2 2026 BASF Group Q2 2026 vs. Q2 2025 and H1 2026 vs. H1 2025 Financial figures Q2 2026 Change H1 2026 Change Million € % Million € % Sales1 17,206 16.4 33,226 6.2 EBITDA before special items1 2,449 53.6 4,805 17.5 EBITDA1 1,965 48.6 4,151 22.4 EBIT before special items1 1,479 115.6 2,913 27.9 EBIT1 937 137.1 2,198 41.4 Net income from shareholdings 20 ´. -25 79.9 Net income 4,144 . 5,072 471.7 1 Excluding Coatings business sold to Carlyle
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22 July 29, 2026 | BASF Conference Call: Q2 2026 Chemicals Segment cash flow (million €)EBITDA before special items (million €) -176 -38 -577 -493 -356 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 209 262 46 233 377 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Sales development Total Volumes Prices Currencies Portfolio Q2 2026 vs. Q2 2025 ▲ 43.7% ▲ 20.7% ▲ 23.8% ▼ -0.4% ▼ -0.4% H1 2026 vs. H1 2025 ▲ 18.5% ▲ 15.8% ▲ 3.9% ▼ -2.6% ▲ 1.4%
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23 July 29, 2026 | BASF Conference Call: Q2 2026 Materials EBITDA before special items (million €) Segment cash flow (million €) 408 408 289 511 792 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 256 338 417 4 26 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Sales development Total Volumes Prices Currencies Portfolio Q2 2026 vs. Q2 2025 ▲ 17.0% ▲ 4.6% ▲ 13.3% ▼ -0.9% − H1 2026 vs. H1 2025 ▲ 5.1% ▲ 4.4% ▲ 3.7% ▼ -3.1% −
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24 July 29, 2026 | BASF Conference Call: Q2 2026 Industrial Solutions EBITDA before special items (million €) Segment cash flow (million €) 307 291 242 361 434 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Sales development Total Volumes Prices Currencies Portfolio Q2 2026 vs. Q2 2025 ▲ 7.8% ▲ 4.9% ▲ 4.2% ▼ -1.3% − H1 2026 vs. H1 2025 ▼ -0.2% ▲ 3.1% 0.0% ▼ -3.3% − 224 353 343 102 -56 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
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25 July 29, 2026 | BASF Conference Call: Q2 2026 Nutrition & Care EBITDA before special items (million €) Segment cash flow (million €) 196 134 89 192 204 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 -27 -34 97 -60 2 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Sales development Total Volumes Prices Currencies Portfolio Q2 2026 vs. Q2 2025 ▲ 5.7% ▲ 12.3% ▼ -1.7% ▼ -1.5% ▼ -3.4% H1 2026 vs. H1 2025 ▲ 1.2% ▲ 10.6% ▼ -3.4% ▼ -3.1% ▼ -2.8%
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26 July 29, 2026 | BASF Conference Call: Q2 2026 Surface Technologies EBITDA before special items1 (million €) Segment cash flow1 (million €) 172 328 130 275 115 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 1 Excluding Coatings business sold to Carlyle Sales development Total Volumes Prices Currencies Portfolio Q2 2026 vs. Q2 2025 ▲ 11.5% ▼ -0.6% ▲ 19.3% ▼ -2.2% ▼ -5.0% H1 2026 vs. H1 2025 ▲ 10.7% ▼ -0.9% ▲ 22.3% ▼ -5.7% ▼ -5.0% 63 274 292 148 -28 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
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27 July 29, 2026 | BASF Conference Call: Q2 2026 Agricultural Solutions EBITDA before special items (million €) Segment cash flow (million €) 417 80 381 1,102 448 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 811 465 1,206 -1,160 881 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Sales development Total Volumes Prices Currencies Portfolio Q2 2026 vs. Q2 2025 ▲ 0.6% ▲ 4.0% ▼ -2.5% ▼ -1.2% ▲ 0.2% H1 2026 vs. H1 2025 ▼ -1.6% ▲ 3.2% ▼ -1.3% ▼ -3.6% ▲ 0.1%
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28 July 29, 2026 | BASF Conference Call: Q2 2026 Review of “Other” Financial figures Q2 2026 Change H1 2026 Change Million € % Million € % Sales1 948 32.6 1,797 11.1 EBITDA before special items1 80 . -239 38.4 of which Costs of corporate research -35 4.2 -66 10.4 Costs of corporate headquarters -65 -7.6 -123 -3.4 Other businesses 59 -8.8 114 26.7 Miscellaneous income and expenses 121 . -164 42.6 Special items in EBITDA1 -352 -258.0 -446 6.7 EBITDA1 -272 -28.3 -685 20.9 1 Excluding Coatings business sold to Carlyle