Interim report
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Half-Year Financial Report 2026 Published on July 29, 2026 H1 26
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Contents Key Figures at a Glance 3 At a Glance 3 Key Figures 4 Consolidated Interim Management’s Report 2026 5 Significant Events 5 Results of Operations H1 2026 7 Net Assets and Financial Position 11 Economic Environment and Outlook 14 Information on Q2 2026 16 BASF Group 16 Chemicals 19 Materials 21 Industrial Solutions 23 Nutrition & Care 25 Surface Technologies 27 Agricultural Solutions 29 Other 31 Reconciliation Tables of Various Earnings Indicators 32 Condensed Consolidated Half-Year Financial Statements 2026 36 Statement of Income 36 Statement of Income and Expense Recognized in Equity 37 Balance Sheet 38 Statement of Cash Flows 39 Statement of Changes in Equity 40 Segment Reporting 42 Notes to the Consolidated Half-Year Financial Statements 43 Responsibility Statement 61 Review Report 62 Selected Key Figures Excluding Precious and Base Metals 63 Further information can be found on our corporate website: » BASF Reporting Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Contents 2 H1 BASF Group 26 Half-Year Financial Report
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H1 2026 — At a Glance €33.2 €4.8 -€1.6 billion billion billion Salesa EBITDA before special itemsa Free cash flow H1 2025: €31.3 billion H1 2025: €4.1 billion H1 2025: -€1.3 billion EBITDA before special items by segmenta and Other Million € 610 1,303 795 396 3,103 391 1,550 1,940 -239 545 877 668 425 2,515 342 1,621 1,963 -388 H1 2026 H1 2025 a Owing to the divestiture of the automotive OEM coatings, automotive refinish coatings and surface treatment business units to Carlyle, the affected business units were classified as discontinued operations in accordance with IFRS 5 until the closing of the transaction on June 30, 2026. The prior-year earnings figures up to and including income taxes have been restated (for more information on this transaction, see Note 3 from page 46 onward). Adjusted Outlook for the 2026 business year Previous assumptions from the BASF Report 2025 are in parentheses; for more information on the Outlook, see page 15 in this half-year financial report €6.9 – €7.7 €1.5 – €2.3 17.2 – 18.2 billion billion million metric tons EBITDA before special items Free cash flow CO2 emissions (€6.2 billion – €7.0 billion) (unchanged) (unchanged) Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 At a Glance 3 Chemicals Materials Industrial Solutions Nutrition & Care Core Businesses Surface Technologies Agricultural Solutions Standalone Businesses Other
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Key Figuresa BASF Group H1 2026 Q2 H1 2026 2025 +/- 2026 2025 +/- Sales million € 17,206 14,788 16.4 % 33,226 31,297 6.2 % EBITDA before special items million € 2,449 1,595 53.6 % 4,805 4,090 17.5 % EBITDA million € 1,965 1,323 48.6 % 4,151 3,392 22.4 % EBITDA margin before special items % 14.2 10.8 . 14.5 13.1 . Depreciation and amortizationb million € 1,028 927 10.9 % 1,953 1,838 6.3 % Income from operations (EBIT) million € 937 395 137.1 % 2,198 1,555 41.4 % Special items in EBIT million € -542 -291 -86.4 % -715 -723 1.1 % EBIT before special items million € 1,479 686 115.6 % 2,913 2,278 27.9 % Income before income taxes million € 780 221 253.6 % 1,879 1,234 52.3 % Income after taxes from continuing operations million € 589 28 . 1,473 846 74.0 % Income after taxes from discontinued operations million € 3,565 80 . 3,627 99 . Income after taxes million € 4,154 108 . 5,100 945 439.7 % Net income million € 4,144 79 . 5,072 887 471.7 % Earnings per share from continuing operationsc € 0.67 0.01 . 1.66 0.89 85.0 % Earnings per share from discontinued operationsc € 4.11 0.08 . 4.16 0.10 . Earnings per sharec € 4.78 0.09 . 5.81 0.99 484.5 % Adjusted earnings per sharec € 1.28 0.48 166.7 % 2.60 2.06 26.3 % Research and development expenses million € 472 479 -1.6 % 909 958 -5.1 % Personnel expenses million € 3,189 3,050 4.6 % 6,194 6,118 1.2 % Employees (June 30) 94,910 110,918 -14.4 % 94,910 110,918 -14.4 % Assets (June 30) million € 83,867 77,668 8.0 % 83,867 77,668 8.0 % Investments including acquisitionsd million € 856 1,082 -20.9 % 1,695 2,017 -16.0 % Equity ratio (June 30) % 44.6 43.1 . 44.6 43.1 . Net debt (June 30) million € 17,117 21,281 -19.6 % 17,117 21,281 -19.6 % Cash flows from operating activities million € 524 1,585 -66.9 % -273 603 . Free cash flow million € -189 533 . -1,564 -1,266 -23.5 % a Owing to the divestiture of the automotive OEM coatings, automotive refinish coatings and surface treatment business units to Carlyle, the affected business units were classified as discontinued operations in accordance with IFRS 5 until the closing of the transaction on June 30, 2026. The prior-year earnings figures up to and including income taxes have been restated (for more information on this transaction, see Note 3 from page 46 onward). b Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) c As a result of the share buyback program, which commenced in November 2025, the weighted average number of outstanding shares amounted to 867,183,730 in the second quarter of 2026 and 872,743,259 in the first half of 2026. In the second quarter of 2025 as well as in the first half of 2025, the weighted average number of outstanding shares amounted to 892,522,164. d Additions to intangible assets and property, plant and equipment Due to rounding, individual figures may not add up to the totals shown and percentages may not correspond exactly to the figures shown. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Key Figures 4
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Consolidated Interim Management’s Report 2026 Significant Events As of March 1, 2026, a new setup for the Global Digital Services unit was introduced. The aim is to reduce costs, standardize services and continuously align the portfolio to the needs of BASF’s core businesses. A new global Digital Hub was opened in Hyderabad, India, on July 1, 2026. The global Digital Hubs in Ludwigshafen, Germany, in Madrid, Spain, and in Kuala Lumpur, Malaysia, will remain. BASF is also planning the next step in the transformation of its Global Business Services unit to ensure long-term competitiveness and consistent service delivery for BASF divisions worldwide. In this context, Global Business Services intends to bundle financial and HR services at a new global hub in Hyderabad. Both measures will contribute to significantly reducing the costs of the Global Digital Services and Global Business Services units going forward. On March 1, 2026, BASF closed the sale of its business with optical brighteners, which are ingredients in laundry detergent formulations, to Catexel GmbH, Wiesbaden, Germany. This business was part of the Care Chemicals division in the Nutrition & Care segment. The transaction comprised the international business, including the production of optical brightening agents at the Monthey site in Switzerland as well as around 80 employees. On March 31, 2026, following receipt of all necessary regulatory approvals, BASF acquired 100% of shares in AgBiTech, Brisbane, Australia. AgBiTech specializes in biological insect control solutions. This business activity is reported in the Agricultural Solutions division. On April 30, 2026, Mark Garrett was elected by the Annual Shareholders’ Meeting of BASF SE as a shareholder representative to the Supervisory Board. He succeeds Liming Chen, who resigned his Supervisory Board mandate at his own request upon the conclusion of the Annual Shareholders’ Meeting 2026. Effective May 1, 2026, and pursuant to a resolution of the Supervisory Board dated October 28, 2025, Dr. Mary Kurian and Dr. Livio Tedeschi were appointed as members of the Board of Executive Directors of BASF SE. Michael Heinz retired as planned at the end of the 2026 Annual Shareholders' Meeting. On May 20, 2026, BASF and PQ signed an agreement on the sale of BASF’s silicates business, including assets at the Düsseldorf-Holthausen site, to PQ Germany GmbH, Wurzen, Germany. This business activity is reported in the Care Chemicals division. Subject to the necessary regulatory approvals, the closing of the transaction is expected in the second half of 2026. Upon agreement on the sale, the affected assets and liabilities were reclassified to a disposal group. On June 30, 2026, following the receipt of all required regulatory approvals, BASF completed the sale of its automotive OEM coatings, automotive refinish coatings and surface treatment businesses (“Coatings”) to Carlyle, Washington D.C. The enterprise value of the transaction amounts to €7.7 billion. BASF received pre-tax cash proceeds of approximately €5.8 billion on June 30, 2026. Following the closing of the transaction, BASF holds a 40% equity stake in the company Surventis, which comprises the former BASF Coatings business. This shareholding is reported under Other as an integral equity- accounted investment. From the signing of the agreement until the closing of the transaction on June 30, 2026, BASF’s Coatings business was reported as a discontinued operation in accordance with IFRS 5. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 5
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Events after June 30, 2026 (events after the reporting period) On July 10, 2026, BASF announced it will use a portion of the cash proceeds from the sale of its Coatings business to Carlyle, which closed on June 30, 2026, to repay financial liabilities prior to maturity. The bonds being redeemed are BASF SE’s €750 million 3.125% bond (due in 2028) and BASF SE’s €500 million 4% bond (due in 2029). The redemption is expected in August 2026 and is in addition to the scheduled repayment of liabilities of around €2.2 billion during 2026. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 6
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Results of Operations H1 20261 Compared with the first half of 2025, BASF Group sales rose by €1,930 million to €33,226 million, in particular as a result of positive volume and price effects. Volumes improved considerably in the Chemicals and Nutrition & Care segments. Sales volumes grew slightly in the Materials, Agricultural Solutions and Industrial Solutions segments and were slightly below the prior-year level in the Surface Technologies segment. Prices rose significantly in the Surface Technologies segment and slightly in the Materials and Chemicals segments. The Nutrition & Care and Agricultural Solutions segments recorded mild price declines, while prices in Industrial Solutions were stable compared with the prior-year period. Currency effects had an adverse impact on sales in all segments. In addition, portfolio effects had a slight dampening effect on sales. Sales in Other were significantly higher than in the prior-year period. Factors influencing BASF Group sales in H1 2026 5.7% 4.8% -3.6% -0.8% 6.2% Volumes Prices Currencies Portfolio Sales The BASF Group’s income from operations before depreciation, amortization and special items (EBITDA before special items)2 improved in the first half of 2026 by €715 million to €4,805 million. This was primarily attributable to significantly higher earnings in the Materials, Industrial Solutions, Chemicals and Surface Technologies segments. Materials, Industrial Solutions and Chemicals benefited mainly from higher contribution margins, while lower fixed costs were the driver in the Surface Technologies segment. EBITDA before special items in the Agricultural Solutions segment decreased slightly owing to increased fixed costs which were only partially offset by a higher contribution margin. In the Nutrition & Care segment, earnings declined due to a lower contribution margin. Earnings in Other improved considerably in the first half of 2026 compared with the prior-year period. This was mainly due to valuation effects on commodity derivatives used as hedging instruments. The EBITDA margin before special items was 14.5%, compared to 13.1% in the first half of 2025. EBITDA2 improved to €4,151 million, compared with €3,392 million in the prior-year period. Special items3 in EBITDA amounted to -€654 million in the first half of 2026. Special charges were incurred especially in connection with restructuring measures, particularly for the ongoing cost savings program focused on the Ludwigshafen site, as well as the implementation of new ERP systems. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 7 1 The earnings figures up to and including income taxes reflect values excluding the divested Coatings business, which was reported as discontinued operations until the closing of the transaction on June 30, 2026. 2 For an explanation of this indicator, see Our Steering Concept on page 29 of the BASF Report 2025 and the reconciliation tables from page 32 onwards in this half-year financial report. 3 Special items may arise from the integration of acquired businesses, restructuring measures, gains or losses resulting from divestitures and sales of shareholdings and other expenses and income that arise outside of ordinary business activities. Special items in EBIT, net income from shareholdings and financial result may also include impairments and reversals of impairments.
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At €2,198 million, EBIT4 was up by €644 million from the level of the prior-year period. Depreciation and amortization5 amounted to €1,953 million (prior-year period: €1,838 million). Net income from shareholdings increased by €98 million compared with the prior-year period, mainly as a result of improved earnings contributions from Wintershall Dea GmbH, Kassel, Germany, and Harbour Energy plc, London, United Kingdom. Gains from the sale of shares in Harbour Energy also contributed to the rise in net income from shareholdings. Compared with the first half of 2025, the financial result declined by €97 million: The main reason for the €66 million decrease in other financial result was lower income from capitalized construction period interest. The interest result was €31 million below the level of the first half of 2025, primarily owing to higher interest expenses from financial indebtedness. Overall, income before income taxes in the first half of 2026 increased by €645 million compared with the prior-year period to €1,879 million. Income tax expenses amounted to €406 million. The tax rate was 21.6%, as compared to 31.4% in the first half of 2025. The comparatively high tax rate in the prior-year period was primarily due to the nonrecognition of deferred tax assets on loss carryforwards. Income after taxes from continuing operations was €1,473 million, up by €627 million compared with the same period of the previous year. Income after taxes from discontinued operations increased substantially to €3,627 million (prior-year period: €99 million). This contained a disposal gain of €3,507 million from the divestiture of the Coatings business to Carlyle. Income attributable to noncontrolling interests amounted to €28 million, down by €29 million compared to the prior-year period. The main reason for this was a lower earnings contribution from BASF TotalEnergies Petrochemicals LLC, Houston, Texas. Net income was €5,072 million, compared with €887 million in the prior-year period. Earnings per share amounted to €5.81 in the first half of 2026 (prior-year period: €0.99). Earnings per share adjusted6 for special items and amortization of intangible assets amounted to €2.60 (prior-year period: €2.06). Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 8 4 The calculation of income from operations (EBIT) is shown in the Statement of Income on page 36 of this half-year financial report. 5 Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments), excluding depreciation, amortization, impairments and reversals of impairments attributable to the discontinued Coatings business; prior-year values were adjusted 6 For an explanation of this indicator, see Results of Operations on page 52 of the BASF Report 2025 and the reconciliation tables from page 32 onward in this half-year financial report.
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Sales, EBITDA before special items and cash flow of the segments Sales1 in the Chemicals segment rose considerably in the first half of 2026. This was mainly driven by higher sales volumes in both divisions, but especially in Petrochemicals, primarily as a result of the startup of the Verbund site in Zhanjiang, China. The positive price development in the Petrochemicals division more than offset the slight decline in prices in the Intermediates division. Overall, the Chemicals segment’s EBITDA before special items2 considerably exceeded the level of the prior-year period. The Petrochemicals division substantially increased earnings thanks to an improved contribution margin. Earnings in the Intermediates division were down slightly. Segment cash flow2 decreased significantly compared with the prior-year period, largely due to higher cash tied up in working capital. This was attributable to increased inventories owing to higher volumes and raw materials prices, especially in the Petrochemicals division, partly in connection with the startup of the Verbund site in Zhanjiang. Compared with the prior-year period, sales in the Materials segment improved considerably in the first half of 2026, largely due to marked increases in prices and volumes in the Monomers division. Lower prices and negative currency effects weighed on sales development in the Performance Materials division; increased volumes could not fully offset these effects. Currency effects also had a slight dampening effect on sales in the Monomers division. Compared with the prior-year period, EBITDA before special items improved significantly in both divisions. The main reasons for this were a higher contribution margin, especially in Monomers, as well as reduced fixed costs. Segment cash flow was down considerably compared to the first half of 2025, in particular in the Performance Materials division. This was mainly attributable to a significantly higher buildup of trade accounts receivable and inventories in both divisions. Sales in the Industrial Solutions segment in the first half of 2026 matched the level of the prior-year period. Increased volumes in both divisions were counterbalanced in particular by negative currency effects. Prices were at prior-year levels. EBITDA before special items was considerably above the level of the prior-year period, primarily due to lower fixed costs in both divisions as well as a higher contribution margin in the Dispersions & Resins division. Segment cash flow decreased markedly compared with the same period of the previous year, mainly due to higher cash tied up in working capital. Sales in the Nutrition & Care segment rose slightly above the figure of the prior-year period, primarily due to significant volume improvements in the Nutrition & Health division as compared to the first half of 2025, which was still adversely affected by the aftereffects of the fire in the isophytol plant in July 2024. Sales in the Care Chemicals division were at prior-year level. EBITDA before special items in the segment declined slightly versus the prior-year period due to a considerable downtrend in the Care Chemicals division, which could only be partially offset by a significant increase in earnings in the Nutrition & Health division. Segment cash flow was significantly above the level of the prior-year period. This was attributable to a considerable improvement in cash flow in the Nutrition & Health division, largely due to lower capital expenditures, particularly in connection with the Zhanjiang Verbund site. The substantial decline in cash flow in the Care Chemicals division was largely due to lower EBITDA and a stronger buildup of trade accounts receivable. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 9 1 For sales, “slight” represents a change of 0.1% to 5.0%, while “considerable” and its synonyms are used for changes of 5.1% and higher. “At prior-year level” indicates no change (+/-0.0%). 2 For EBITDA before special items and segment cash flow in all segments, “slight” means a change of 0.1% to 10.0%, while “considerable” and its synonyms are used for changes of 10.1% and higher. “At prior-year level” indicates no change (+/-0.0%).
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Compared with the first half of the previous year, sales increased considerably in the Surface Technologies segment. This was largely attributable to the positive sales development of the Environmental Catalyst and Metal Solutions (ECMS) division as a result of substantially higher prices. In the Battery Materials division, a significant increase in prices more than offset lower volumes. EBITDA before special items in this segment was significantly higher than the prior-year level. The considerable rise in earnings in the ECMS division resulted mainly from a higher contribution margin and reduced fixed costs. Earnings were down substantially in the Battery Materials division, primarily due to increased fixed costs resulting from the expiry of subsidies. Compared with the prior-year period, segment cash flow improved, largely on account of higher EBITDA at ECMS and cash released from trade accounts receivable in both divisions. Cash flow in the Battery Materials division decreased, mainly due to lower EBITDA and a higher inventory buildup. Sales in the Agricultural Solutions segment in the first half of 2026 were slightly below the level of the prior-year period, primarily as a result of negative currency and lower prices. Higher volumes in all regions had an offsetting effect. EBITDA before special items decreased compared with the prior-year period, mainly due to higher fixed costs in particular as a result of higher research and development expenditures. An increase in cash tied up in trade accounts receivable as well as lower earnings led to significantly decreased segment cash flow. Higher sales in commodity trading had a positive impact in Other in the first half of 2026. EBITDA before special items increased considerably, mainly due to valuation effects on commodity derivatives used as hedging instruments. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 10
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Net Assets and Financial Position Net Assets As of June 30, 2026, total assets amounted to €83,867 million, which was €7,693 million above the figure as of the end of 2025. Noncurrent assets increased by €593 million. Intangible assets were €154 million higher than the value at the end of the previous year, primarily due to currency effects in the amount of €192 million. A slight offsetting effect came from amortization, which exceeded additions by €18 million. The €449 million increase in property, plant and equipment was also mainly attributable to currency effects (€768 million). Depreciation amounted to €1,772 million, including impairments of €83 million, and exceeded additions to property, plant and equipment by €240 million. The carrying amounts of the integral investments accounted for using the equity method were €1,307 million higher than the value as of December 31, 2025. This was chiefly due to the addition of the 40% stake in Surventis, which comprises the former BASF Coatings business, as part of the transaction concluded with Carlyle. The carrying amounts of non-integral investments accounted for using the equity method declined by €1,611 million, primarily as a result of the sale of shares in Harbour Energy plc, London, United Kingdom, and dividend payments received from Wintershall Dea GmbH, Kassel, Germany. Other receivables and miscellaneous assets increased by €230 million, largely due to higher defined benefit assets. Current assets increased by €7,101 million compared with the end of the previous year to €38,785 million. This was attributable in part to the €3,423 million increase in trade accounts receivable, particularly in the Agricultural Solutions segment, as well as the €1,646 million rise in inventories. Other receivables and miscellaneous assets were €893 million higher than the figure as of December 31, 2025, particularly due to increased precious metal trading positions and higher positive fair values of derivatives. Cash and cash equivalents increased by €5,126 million to €7,796 million, mainly due to the cash inflow in connection with the sale of Coatings. At the end of the first half-year, assets of disposal groups amounted to €45 million and contained the assets of the planned divestiture of the silicates business in the Care Chemicals division. The decrease of €3,928 million compared with the end of 2025 was due to the derecognition of the Coatings disposal group. Financial Position Compared with the end of the previous year, equity increased by €3,058 million to €37,396 million. Retained earnings were €1,935 million higher than as of December 31, 2025. Net income was €5,072 million, while dividend payments to the shareholders of BASF SE amounted to €1,964 million and share buybacks amounted to €1,145 million. Other comprehensive income rose by €1,189 million, largely due to currency effects as well as actuarial gains. The equity ratio was 44.6% (December 31, 2025: 45.1%). Noncurrent liabilities increased by €135 million compared with December 31, 2025, to €25,559 million. Noncurrent financial indebtedness rose by €346 million. This was largely attributable to the net increase in bank liabilities, mainly due to the additional utilization of a credit line in China for the construction of the Zhanjiang Verbund site, the issuance of two CNY bonds with a book value of approximately €500 million as well as interest rate and currency effects; reclassifications in the amount of around €2 billion to current financial indebtedness had an offsetting effect. Other provisions declined by €100 million, primarily as a result of provisions for restoration obligations and restructuring measures being reclassified to current provisions. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 11
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Current liabilities increased by €4,501 million compared with December 31, 2025. This was mainly due to the €3,570 million increase in current financial indebtedness as a result of the aforementioned reclassifications as well as the issuance of around €1.4 billion in commercial paper and the taking out of new loans in the amount of around €1.5 billion. The scheduled redemption of one bond and the repayment of loans totaling around €1.25 billion had an offsetting effect. Trade accounts payable increased by €762 million. The €636 million increase in provisions related primarily to discount provisions. As a result of the derecognition of the Coatings disposal group, liabilities of disposal groups decreased by €1,005 million. As of June 30, 2026, this position contained the liabilities associated with the planned sale of the silicates business. Compared to the end of the previous year, net debt1 decreased by €1,212 million to €17,117 million. Net debt Million € June 30, 2026 December 31, 2025 Noncurrent financial indebtedness 18,827 18,481 + Current financial indebtedness 6,177 2,608 Financial indebtedness 25,004 21,088 − Marketable securities 91 89 − Cash and cash equivalents 7,796 2,670 Net debt 17,117 18,329 Cash flows from operating activities amounted to -€273 million in the first half of 2026, €876 million below the prior-year period’s figure. This decline was attributable to, among other things, the €1,510 million increase in cash tied up in trade accounts receivable as a result of higher sales.2 Furthermore, cash tied up in inventories increased by €839 million, primarily owing to higher raw materials prices. Moreover, commodity derivatives, in particular for hedging raw material supplies, had a negative impact of €271 million on cash flows compared with the prior-year period. These effects were partially offset by the development of trade accounts payable, which led to a release of cash in the reporting period as opposed to cash being tied up in the prior-year period. This resulted in a €1,348 million improvement in cash flow. In addition, dividend payments from equity-accounted investments were €742 million higher. Cash flows from investing activities amounted to €5,121 million in the first half of 2026, compared with -€1,786 million in the prior-year period. The increase was largely attributable to the €5.6 billion purchase price payment less disposed cash in connection with the sale of the Coatings business. Payments received from the sale of shares in Harbour Energy also had a positive impact of €831 million. Payments made for intangible assets and property, plant and equipment amounted to -€1,291 million and were down by €578 million compared with the value of the prior-year period, primarily owing to lower payments in connection with the Verbund site in China. Moreover, payments of €123 million less cash acquired were made for the acquisition of AgBiTech, Brisbane, Australia. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 12 1 For an explanation of this indicator, see Financial Position from page 56 onward of the BASF Report 2025. 2 The cash tied up and cash released in these items reflect the change of the items compared with the respective prior year-end value.
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Cash flows from financing activities decreased by €795 million to €72 million. Net issuance of financial and similar liabilities increased by €263 million compared with the first half of 2025. This was partially offset by share buybacks in the amount of €1,145 million in the first half of 2026. No shares were bought back in the prior-year period. Moreover, a dividend payment of €1,964 million was made to shareholders of BASF SE (prior year: €2,008 million). Free cash flow3 was -€1,564 million in the first half of 2026, compared with -€1,266 million in the prior- year period. Free cash flow H1 Million € 2026 2025 Cash flows from operating activities -273 603 − Payments made for property, plant and equipment and intangible assets 1,291 1,869 Free cash flow -1,564 -1,266 BASF enjoys good credit ratings, especially compared with competitors in the chemical industry. Standard & Poor’s confirmed its credit rating of A-/A-2/outlook stable on July 13, 2026. Moody’s confirmed its credit rating of A3/P-2/outlook stable on May 29, 2026. Fitch maintained its credit rating of A/F1/outlook stable on February 13, 2026. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 13 3 For an explanation of this indicator, see Financial Position from page 61 onward of the BASF Report 2025 and the reconciliation tables from page 32 onward in this half-year financial report.
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Economic Environment and Outlook Economic Environment The development of the world economy and global industrial activity in the first half of 2026 was influenced by the conflict in the Middle East. From early March until mid-June 2026, the Strait of Hormuz – the main shipping route for oil, natural gas and chemical products from the Middle East – was largely closed. Even after the signing of a memorandum of understanding by the conflicting parties in mid-June 2026, transit through the shipping channel was very limited. The reduced supply of energy commodities and chemical precursors from the Middle East led to surging prices and supply problems in petrochemical value chains, particularly in Asia. The latest estimates nevertheless show that global gross domestic product (GDP) in the first half of 2026 grew by around 2.5% compared with the first six months of the previous year, with slowing momentum in the second quarter. In the EU, growth in the first six months was estimated to be just 0.6%. Economic growth in Germany was likely slightly lower, while GDP in France and Italy increased in step with the EU average. Among the largest eurozone countries, Spain once again achieved a significantly higher growth rate of more than 2%. In the United States, first-half GDP is estimated to have risen by 2.4%. In China, GDP increased by 4.7%, according to current estimates. While Chinese industrial production continued to grow and exports continued to increase sharply, domestic demand (as measured by real retail sales) was largely stagnant. Based on preliminary, partly estimated data, global industrial production rose by almost 2%. Industrial production in the EU was down slightly overall, while it increased slightly in the United States. Manufacturing growth in China remained solid at 5.6%, b ut the development was uneven with significant differences between the sectors. In particular, production rose sharply in information and communication electronics. By contrast, production in the automotive sector decreased overall by 1.0%, according to current estimates. Production of durable consumer goods showed a decline in some areas, especially in the furniture industry. Fast-moving consumer goods, such as care chemicals and food, saw solid growth in China, while markets in the EU and North America were largely flat. Overall demand in the construction industry was weak. In the EU, the negative trend persisted for new-build construction, while the only growth was seen in the infrastructure sector. In the United States, data on construction starts and construction spending point to a further contraction in this sector. In China, indicators for the residential construction market continue to decline. According to current estimates, global chemical production in the first half of the year increased by around 2.5% compared with the prior-year period. Production in the EU compared with the prior-year period declined in the first quarter by 3.6%, but then rose in the second quarter by around 1.5%. After the Strait of Hormuz was closed for exports of basic chemical products, some of the global demand for chemicals shifted to Europe. In the United States, on the other hand, production over the first two quarters decreased by around 1.4% in total . In China, chemical production growth was dampened by the conflict in the Middle East. While production in the first quarter still increased by more than 8%, growth in the second quarter was only 1.9%. The oil price averaged $87 per barrel (Brent crude) in the first half of 2026, above the average for the prior-year period ($72 per barrel). A steep decline in total oil production of 11.6 million barrels per day was offset by a decrease in demand of 4.4 million barrels per day. In China, demand for oil in the second quarter fell by around 10% (1.8 million barrels per day) compared with the preceding quarter. This steep drop was one reason why average oil prices in the second quarter stayed below $100 per barrel despite the dramatic reduction in deliveries from the Middle East. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Economic Environment and Outlook 14
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Outlook In the second half of the year, global gross domestic product is expected to grow at a similar pace as in the first half-year. According to current estimates, growth in global industrial production will also hold steady at roughly the level seen in the first half-year. For chemical production, we expect an acceleration in China and the United States but a moderate slowdown for the EU. The U.S. dollar will be supported by the interest rate spread to the eurozone; the exchange rate will likely be below the previously expected level of $1.20 per euro. For the oil price, we forecast an annual average level of $80 per barrel, in line with expectations on futures markets. Accordingly, BASF has adjusted its assumptions regarding the global economic environment for 2026 as follows (previous assumptions from the BASF Report 2025 are in parentheses): – Growth in gross domestic product: 2.5% (2.7%) – Growth in industrial production: 2.0% (2.3%) – Growth in chemical production: 1.8% (2.4%) – Average euro/dollar exchange rate of $1.17 per euro ($1.20 per euro) – Average annual oil price (Brent crude) of $80 per barrel ($65 per barrel) The development of the global economy and regional chemical markets in the second half of 2026 remains highly uncertain. It depends to a considerable degree on the developments in the Middle East conflict, particularly the access to and use of the Strait of Hormuz for the transport of energy and petrochemical feedstocks from the Middle East. A prolonged closure of this trade route would weigh significantly on economic activity. Conversely, a rapid agreement on a reliable framework arrangement would provide additional momentum for economic growth. The BASF Group’s forecast for the 2026 business year published in the BASF Report 2025 has been adjusted in light of the better-than-expected business development (previous forecast from the BASF Report 2025 is in parentheses): – EBITDA before special items of between €6.9 billion and €7.7 billion (€6.2 billion to €7.0 billion) – Free cash flow of between €1.5 billion and €2.3 billion (unchanged) – CO2 emissions of between 17.2 million metric tons and 18.2 million metric tons (unchanged) With regard to opportunity and risk factors, the statements contained in the BASF Report 2025 remain fundamentally valid. The forecast risks associated with higher raw material costs did materialize in some cases in the first half of 2026, while price and volume trends were positive. We are closely monitoring the opportunities and risks relating to the conflict in the Middle East and will leverage opportunities and mitigate risks. Given the rapidly changing situation – especially with regard to energy and raw material prices as well as potential disruptions to global supply chains – it is currently impossible to reliably quantify or assess the resulting effects. According to the company’s assessment, neither existing individual risks nor the sum of individual risks pose a threat to the continued existence of the BASF Group. » For more information on opportunities and risks, see page 90 onward of the BASF Report 2025 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Economic Environment and Outlook 15
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Information on Q2 2026 BASF Group1 Sales in the second quarter of 2026 amounted to €17,206 million, €2,418 million above the level of the prior-year period. This was largely attributable to considerably higher prices and volumes. The price increase was driven by the Chemicals, Surface Technologies, Materials and Industrial Solutions segments, while prices in the Agricultural Solutions and Nutrition & Care segments declined. Volumes increased in nearly all segments, with the exception of Surface Technologies, which recorded a slight decline in sales volumes. Currency effects had a dampening impact on sales in all segments. Sales in Other rose significantly. Factors influencing BASF Group sales in Q2 2026 7.3% 11.5% -1.2% -1.2% 16.4% Volumes Prices Currencies Portfolio Sales EBITDA before special items2 improved by €854 million compared with the prior-year quarter to €2,449 million. The main driver here was the significant earnings increase in the Materials, Chemicals and Industrial Solutions segments, primarily as a result of improved contribution margins. Slight earnings increases were recorded in the segments Agricultural Solutions, here likewise due to an improved contribution margin, and Nutrition & Care, where lower fixed costs were the main reason. In the Surface Technologies segment, earnings were down significantly due to higher fixed costs. EBITDA before special items in Other grew considerably compared with the value in the prior-year quarter. The EBITDA margin before special items was 14.2% following 10.8% in the prior-year quarter. EBITDA2 increased to €1,965 million, compared with €1,323 million in the prior-year period. Sequential development of EBITDA before special items Billion € 2.4 2.4 1.0 1.4 1.6 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 16 1 The earnings figures up to and including income taxes reflect values excluding the divested Coatings business, which was reported as discontinued operations until the closing of the transaction on June 30, 2026. 2 For an explanation of this indicator, see Our Steering Concept on page 29 of the BASF Report 2025 and the reconciliation tables from page 34 onwards in this half-year financial report.
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EBITDA included special items3 in the amount of -€484 million in the second quarter of 2026. Special charges were incurred mainly in relation to restructuring measures, particularly the ongoing cost savings program focused on the Ludwigshafen site, as well as the implementation of new ERP systems. At €937 million, EBIT4 was up by €542 million over the level of the prior-year quarter. Depreciation and amortization5 amounted to €1,028 million (prior-year period: €927 million). The €92 million improvement in net income from shareholdings was primarily due to improved earnings contributions from Harbour Energy and Wintershall Dea. Gains from the sale of shares in Harbour Energy also contributed to the rise in net income from shareholdings. The financial result was €74 million below the level of the prior-year quarter. This was mainly attributable to the €49 million decline in other financial result due to lower income from capitalized construction period interest. The interest result was down by €25 million compared with the second quarter of 2025, primarily owing to increased interest expenses from financial indebtedness. Accordingly, income before income taxes amounted to €780 million, up by €560 million versus the figure of the prior-year quarter. The tax rate was 24.5%, compared with 87.4% in the prior-year quarter. The main reasons for the high tax rate in the second quarter of 2025 were unrecognized deferred taxes on loss carryforwards as well as negative earnings contributions from equity-accounted companies. Income after taxes from continuing operations came in at €589 million, following €28 million in the prior-year quarter. Income after taxes from discontinued operations rose considerably to €3,565 million (prior-year quarter: €80 million). This contained a disposal gain of €3,507 million from the sale of the Coatings business to Carlyle. Noncontrolling interests declined by €18 million to €10 million, primarily due to a lower earnings contribution from BASF TotalEnergies Petrochemicals LLC. Net income was €4,144 million, compared with €79 million in the prior-year quarter. Earnings per share amounted to €4.78 in the second quarter of 2026 (prior-year quarter: €0.09). Earnings per share adjusted for special items and amortization of intangible assets amounted to €1.28 (prior-year quarter: €0.48). Cash flows from operating activities totaled €524 million in the second quarter of 2026, €1,061 million below the level of the prior-year period. This decrease was largely attributable to the higher amount of cash tied up in working capital. This resulted in part because cash tied up in inventories increased by €654 million owing to higher raw material prices. Compared with the prior-year period, changes of €843 million in trade accounts receivable had a negative effect on cash flow: Cash was tied up in the reporting period as opposed to a cash release in the prior-year quarter. Moreover, commodity derivatives, in particular to hedge raw material supplies, adversely affected cash flow by €310 million compared with the prior-year period. There was an offsetting effect from trade accounts payable, where €44 million in cash was released, whereas €475 million in cash had been tied up in the prior-year period. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 17 3 Special items may arise from the integration of acquired businesses, restructuring measures, gains or losses resulting from divestitures and sales of shareholdings and other expenses and income that arise outside of ordinary business activities. Special items in EBIT, net income from shareholdings and financial result may also include impairments and reversals of impairments. 4 The calculation of income from operations (EBIT) is shown in the Statement of Income on page 36 of this half-year financial report. 5 Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
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Cash flows from investing activities in the second quarter of 2026 amounted to €5,496 million, compared with -€1,112 million in the prior-year period. The increase was largely attributable to the net cash inflow of €5.6 billion from the purchase price payment less disposed cash in connection with the sale of the Coatings business. In addition, payments of €522 million were received from the sale of shares in Harbour Energy. Payments made for intangible assets and property, plant and equipment decreased by €340 million, mainly in relation to the Verbund site in Zhanjiang. Cash flows from financing activities decreased by €1,274 million to -€1,496 million. Net additions to financial and similar liabilities declined by €709 million. In the second quarter of 2026, share buybacks reduced cash flow by €652 million. No shares were bought back in the prior-year period. Moreover, a dividend payment of €1,964 million was made to shareholders of BASF SE (prior year: €2,008 million). Free cash flow6 amounted to -€189 million in the second quarter of 2026, down by €721 million compared with the level of the prior-year period. Free cash flow Q2 Million € 2026 2025 Cash flows from operating activities 524 1,585 − Payments made for property, plant and equipment and intangible assets 713 1,053 Free cash flow -189 533 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 BASF Group 18 6 For an explanation of this indicator, see Financial Position, from page 61 onward in the BASF Report 2025 and the reconciliation tables from page 34 onward in this half-year financial report.
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Chemicals Q2 2026 At a glance €377 million -€356 million EBITDA before special items Segment cash flow Q2 2025: €209 million Q2 2025: -€176 million Sales1 in the Chemicals segment rose considerably compared with the prior-year quarter, mainly driven by higher prices and volumes in both divisions. Factors influencing sales in Q2 2026 – Chemicals Chemicals Petrochemicals Intermediates Volumes 20.7 % 24.9 % 8.8 % Prices 23.8 % 30.0 % 5.8 % Currencies -0.4 % -0.2 % -1.1 % Portfolio -0.4 % -0.5 % – Sales 43.7 % 54.2 % 13.6 % Substantially higher sales prices had a positive impact on sales in the Petrochemicals division, in particular as a result of the supply bottlenecks in association with the conflict in the Middle East. Prices also rose noticeably in the Intermediates division, especially for amines. The significant increase in sales volumes in the Petrochemicals division was mainly attributable to the startup of the Verbund site in Zhanjiang, China. In the Intermediates division, volumes were also up considerably, especially in the business areas amines as well as acids and polyalcohols. Currency effects, primarily relating to the U.S. dollar, had a slightly negative influence on sales. The divestiture of the Styrodur business in the second quarter of the previous year resulted in a slightly negative portfolio effect in the Petrochemicals division. The segment’s EBITDA before special items2 was significantly higher than in the prior-year quarter, largely as a result of improved earnings in the Petrochemicals division. The main reason for this was increased contribution margins, especially in Europe. Earnings in the Intermediates division were slightly above the level of the prior-year quarter: The slight rise in fixed costs was more than offset by increased contributions from equity-accounted investments and higher contribution margins. Special charges in EBITDA in the Chemicals segment amounted to €16 million in the second quarter of 2026 and resulted primarily from restructuring measures and the changeover of the ERP system. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Chemicals 19 1 For sales, “slight” represents a change of 0.1% to 5.0%, while “considerable” and its synonyms are used for changes of 5.1% and higher. “At prior-year level” indicates no change (+/-0.0%). 2 For EBITDA before special items and segment cash flow in all segments, “slight” means a change of 0.1% to 10.0%, while “considerable” and its synonyms are used for changes of 10.1% and higher. “At prior-year level” indicates no change (+/-0.0%).
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Segment cash flow3 in Chemicals was significantly below the level of the prior-year quarter, largely due to a decrease in the Petrochemicals division. The latter was attributable to cash being tied up in working capital, in particular due to a buildup of trade accounts receivable in contrast to a decline in receivables in the prior-year quarter. Lower capital expenditures and increased EBITDA partially offset this. In the Intermediates division, cash flow improved compared with the prior-year level. Increased EBITDA and reduced capital expenditures – especially in connection with the Verbund site in Zhanjiang – more than offset negative effects in working capital. Segment data – Chemicals Q2 H1 Million € 2026 2025 +/- 2026 2025 +/- Sales to third parties 3,595 2,502 43.7 % 6,257 5,279 18.5 % of which Petrochemicals 2,862 1,857 54.2 % 4,918 3,941 24.8 % Intermediates 733 645 13.6 % 1,339 1,337 0.1 % EBITDA before special items 377 209 80.3 % 610 545 12.0 % Special items in EBITDA -16 -37 56.5 % -30 -39 22.1 % EBITDA 361 172 109.9 % 580 506 14.6 % EBITDA margin before special items (%) 10.5 8.4 . 9.8 10.3 . Depreciation and amortizationa 310 220 41.1 % 595 438 35.8 % EBIT before special items 67 -4 . 16 115 -86.3 % Special items in EBIT -17 -44 62.5 % -31 -47 35.2 % Income from operations (EBIT) 50 -48 . -15 68 . Investments including acquisitionsb 409 519 -21.2 % 729 972 -25.1 % Segment cash flow -356 -176 -101.9 % -848 -567 -49.8 % Assets (June 30) 15,957 13,890 14.9 % 15,957 13,890 14.9 % Research and development expenses 21 21 -0.3 % 41 41 -1.6 % a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) b Additions to property, plant and equipment and intangible assets Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Chemicals 20 3 For EBITDA before special items and segment cash flow in all segments, “slight” means a change of 0.1%–10.0%, while “considerable” and its synonyms are used for changes of 10.1% and higher. “At prior-year level” indicates no change (+/-0.0%).
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Materials Q2 2026 At a glance €792 million €26 million EBITDA before special items Segment cash flow Q2 2025: €408 million Q2 2025: €256 million In the second quarter, sales in the Materials segment considerably exceeded the level of the prior-year period. This was mainly attributable to significantly higher prices in the Monomers division. Factors influencing sales in Q2 2026 – Materials Materials Performance Materials Monomers Volumes 4.6 % 3.1 % 6.2 % Prices 13.3 % 2.7 % 24.6 % Currencies -0.9 % -1.4 % -0.4 % Portfolio – – – Sales 17.0 % 4.4 % 30.4 % Prices in the Monomers division rose substantially in nearly all business areas, especially for MDI and ammonia. In the Performance Materials division, prices improved slightly, primarily in the PU systems business. The segment’s volumes were slightly above the level of the prior-year quarter. The Monomers division recorded a considerable improvement in sales volumes, especially in the propylene oxide value chain as well as in the ammonia, MDI and polyamide 6.6 businesses. The Performance Materials division achieved a slight volume increase, in particular in the engineering plastics and thermoplastic polyurethanes businesses. Currency effects, mainly relating to the U.S. dollar and the Indian rupee, had a slightly negative impact on sales. In the Materials segment, second-quarter EBITDA before special items was significantly higher compared with the prior-year period in both divisions. Earnings in the two divisions improved as a result of higher contribution margins and lower fixed costs. Special charges in EBITDA in the Materials segment amounted to €17 million and resulted primarily from the changeover of the ERP system. Segment cash flow decreased considerably in the second quarter. In the Performance Materials division, cash flow declined mainly due to an increase in working capital particularly as the result of higher trade accounts receivable and inventory buildup compared with the prior-year quarter. By contrast, cash had been released in the prior-year period. In the Monomers division, cash flow increased: Higher EBITDA and lower capital expenditures more than compensated for negative effects resulting from the rise in working capital. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Materials 21
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Segment data – Materials Q2 H1 Million € 2026 2025 +/- 2026 2025 +/- Sales to third parties 3,790 3,240 17.0 % 7,028 6,690 5.1 % of which Performance Materials 1,748 1,675 4.4 % 3,311 3,413 -3.0 % Monomers 2,042 1,566 30.4 % 3,718 3,277 13.5 % EBITDA before special items 792 408 93.9 % 1,303 877 48.5 % Special items in EBITDA -17 -22 24.8 % -32 -32 2.7 % EBITDA 775 386 100.7 % 1,271 845 50.4 % EBITDA margin before special items (%) 20.9 12.6 . 18.5 13.1 . Depreciation and amortizationa 189 225 -15.8 % 375 435 -13.9 % EBIT before special items 603 184 227.7 % 928 444 108.9 % Special items in EBIT -17 -22 25.2 % -32 -35 8.8 % Income from operations (EBIT) 586 161 262.9 % 897 410 118.8 % Investments including acquisitionsb 178 200 -11.1 % 302 335 -9.9 % Segment cash flow 26 256 -89.7 % 30 300 -90.0 % Assets (June 30) 10,422 9,770 6.7 % 10,422 9,770 6.7 % Research and development expenses 44 47 -5.2 % 86 91 -5.6 % a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) b Additions to property, plant and equipment and intangible assets Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Materials 22
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Industrial Solutions Q2 2026 At a glance €434 million -€56 million EBITDA before special items Segment cash flow Q2 2025: €307 million Q2 2025: €224 million The Industrial Solutions segment achieved considerably higher sales in the second quarter of 2026. Sales increased significantly in the Dispersions & Resins division and improved slightly in the Performance Chemicals division. Factors influencing sales in Q2 2026 – Industrial Solutions Industrial Solutions Dispersions & Resins Performance Chemicals Volumes 4.9 % 6.8 % 2.4 % Prices 4.2 % 5.2 % 2.7 % Currencies -1.3 % -1.2 % -1.4 % Portfolio – – – Sales 7.8 % 10.8 % 3.7 % Sales volumes in the segment were up slightly compared with the prior-year quarter. Volumes grew in all business areas of the Dispersions & Resins division, especially in dispersions and electronic materials. In the Performance Chemicals division, volumes improved in particular in the refinery catalysts and antioxidants businesses. Prices in both divisions were higher compared with the prior-year quarter: Prices improved in nearly all business areas of the Dispersions & Resins division, especially in dispersions. In the Performance Chemicals division, improvements were mainly seen in the lubricants, antioxidants, chemical catalysts and refinery catalysts businesses. Negative currency effects were primarily related to the U.S. dollar and Indian rupee. EBITDA before special items was considerably higher in both divisions compared to the value in the prior-year quarter. Earnings in the Performance Chemicals division improved mainly thanks to lower fixed costs, while the Dispersions & Resins division recorded higher earnings primarily because of an increased contribution margin. Special items in EBITDA amounted to -€44 million and resulted in both divisions predominately from restructuring measures. Compared with the prior-year period, segment cash flow in Industrial Solutions decreased markedly. In both divisions, cash flow declined mainly due to a higher amount of cash tied up in working capital. The earnings growth in both divisions had an offsetting effect. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Industrial Solutions 23
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Segment data – Industrial Solutions Q2 H1 Million € 2026 2025 +/- 2026 2025 +/- Sales to third parties 2,328 2,160 7.8 % 4,420 4,428 -0.2 % of which Dispersions & Resins 1,374 1,240 10.8 % 2,572 2,549 0.9 % Performance Chemicals 954 920 3.7 % 1,848 1,880 -1.7 % EBITDA before special items 434 307 41.5 % 795 668 19.1 % Special items in EBITDA -44 -8 -422.3 % -55 -14 -279.1 % EBITDA 390 298 30.7 % 740 653 13.3 % EBITDA margin before special items (%) 18.6 14.2 . 18.0 15.1 . Depreciation and amortizationa 148 108 36.3 % 243 213 14.2 % EBIT before special items 331 198 67.2 % 597 455 31.4 % Special items in EBIT -89 -9 -951.6 % -101 -15 -590.2 % Income from operations (EBIT) 242 190 27.5 % 497 440 12.9 % Investments including acquisitionsb 74 77 -3.1 % 144 145 -1.1 % Segment cash flow -56 224 . 46 366 -87.5 % Assets (June 30) 7,192 6,952 3.4 % 7,192 6,952 3.4 % Research and development expenses 45 48 -6.7 % 86 94 -8.7 % a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) b Additions to property, plant and equipment and intangible assets Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Industrial Solutions 24
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Nutrition & Care Q2 2026 At a glance €204 million €2 million EBITDA before special items Segment cash flow Q2 2025: €196 million Q2 2025: -€27 million In the second quarter of 2026, sales in the Nutrition & Care segment rose considerably above the level of the prior-year quarter as a result of improved volumes. Factors influencing sales in Q2 2026 – Nutrition & Care Nutrition & Care Care Chemicals Nutrition & Health Volumes 12.3 % 5.3 % 31.9 % Prices -1.7 % 0.5 % -8.0 % Currencies -1.5 % -1.1 % -2.6 % Portfolio -3.4 % -1.1 % -9.9 % Sales 5.7 % 3.6 % 11.4 % The Nutrition & Health division achieved significantly higher sales volumes, especially in the vitamin and carotenoid products, aroma and pharma businesses; the prior-year quarter had still been negatively impacted by the aftereffects of the fire in the isophytol plant in July 2024. Sales volumes in the Care Chemicals division grew in particular in the Personal Care, Industrial Formulators, and Home Care and Industrial & Institutional Cleaning businesses. Prices in the segment were down slightly compared with the level of the prior-year quarter. In the Nutrition & Health division, the decrease was considerable, especially in the vitamin and carotenoid products business and the aroma business. The Care Chemicals division recorded slight price increases, in particular in the oleochemical tensides business; this more than compensated for the decline in Personal Care. Currency effects, primarily relating to the Indian rupee and the U.S. dollar, had a slight dampening impact on sales. The negative portfolio effect in the Nutrition & Health division resulted from the divestiture of the business with food and health performance ingredients. In the Care Chemicals division, portfolio effects were attributable to the sale of the optical brighteners business. EBITDA before special items in the segment was slightly above the level of the prior-year quarter. In the Care Chemicals division, earnings increased slightly, mainly due to reduced fixed costs. In the Nutrition & Health division, EBITDA before special items was slightly below the prior-year level: Higher fixed costs, primarily owing to an insurance payment received in the prior-year quarter, could only be partially offset by an improved contribution margin. Special items in EBITDA amounted to -€9 million and resulted in particular from the changeover of the ERP system. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Nutrition & Care 25
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Compared with the prior-year quarter, segment cash flow improved considerably. In the Nutrition & Health division, cash flow increased due mainly to lower capital expenditures, particularly in connection with the Zhanjiang Verbund site. In the Care Chemicals division, cash flow was lower than in the prior- year quarter as the result of negative effects in working capital, especially relating to trade accounts receivable. Reduced capital expenditures and slightly higher EBITDA had an offsetting effect. Segment data – Nutrition & Care Q2 H1 Million € 2026 2025 +/- 2026 2025 +/- Sales to third parties 1,709 1,618 5.7 % 3,378 3,337 1.2 % of which Care Chemicals 1,232 1,190 3.6 % 2,455 2,468 -0.5 % Nutrition & Health 477 428 11.4 % 923 869 6.2 % EBITDA before special items 204 196 4.2 % 396 425 -6.9 % Special items in EBITDA -9 -7 -16.0 % -17 -11 -56.4 % EBITDA 195 188 3.8 % 379 415 -8.6 % EBITDA margin before special items (%) 11.9 12.1 . 11.7 12.7 . Depreciation and amortizationa 144 137 4.7 % 282 262 7.6 % EBIT before special items 60 66 -8.1 % 115 172 -33.3 % Special items in EBIT -9 -15 40.7 % -18 -19 8.3 % Income from operations (EBIT) 52 51 1.3 % 97 153 -36.4 % Investments including acquisitionsb 81 157 -48.4 % 169 308 -44.9 % Segment cash flow 2 -27 . -58 -130 54.9 % Assets (June 30) 8,028 7,875 2.0 % 8,028 7,875 2.0 % Research and development expenses 30 35 -15.3 % 59 69 -14.3 % a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) b Additions to property, plant and equipment and intangible assets Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Nutrition & Care 26
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Surface Technologies Q2 2026 At a glance €115 million -€28 million EBITDA before special items Segment cash flow Q2 2025: €172 million Q2 2025: €63 million Sales in the Surface Technologies segment increased considerably in the second quarter of 2026 as a result of higher prices. Factors influencing sales in Q2 2026 – Surface Technologies Surface Technologies Battery Materials ECMS Coatingsa Volumes -0.6 % -26.7 % 1.5 % – Prices 19.3 % 27.9 % 19.7 % – Currencies -2.2 % 1.8 % -2.7 % – Portfolio -5.0 % – – -100.0 % Sales 11.5 % 3.0 % 18.5 % -100.0 % a The figures of the Coatings division refer exclusively to the decorative paints business unit, which was sold on October 1, 2025. Prices in the Environmental Catalyst and Metal Solutions (ECMS) division improved due to significantly higher precious metal prices. In the Battery Materials division, prices in the cathode materials business were considerably above the prior-year level. Sales volumes matched the level of the prior-year period. In the ECMS division, a volume increase in Precious Metal Services more than offset the decreased volumes in the emissions catalyst business. The decrease in volumes in the Battery Materials division was mainly attributable to lower sales volumes in the cathode materials business. Currency effects, primarily relating to the Indian rupee and U.S. dollar, had a dampening impact on sales in the ECMS division. The Battery Materials division recorded positive effects, mainly relating to the Chinese renminbi. The sale of the Brazilian decorative paints business as of October 1, 2025, resulted in negative portfolio effects in the Coatings division. EBITDA before special items in the Surface Technologies segment fell considerably compared with the prior-year quarter. Earnings in the ECMS division declined mainly in Precious Metal Services; this could only be partially offset by higher earnings in the emissions catalyst business. In the Battery Materials division, earnings declined due to the expiry of subsidies, which led to higher fixed costs. Special charges in EBITDA amounted to €14 million and related primarily to restructuring measures in the ECMS division. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Surface Technologies 27
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Segment cash flow was down considerably compared with the prior-year period. In the ECMS division, cash flow decreased as a result of cash being tied up in working capital, mainly due to a stronger buildup of receivables in connection with higher precious metal prices compared with the prior-year quarter. In the Battery Materials division, cash flow rose slightly compared with the prior-year period; positive effects in working capital as well as lower capital expenditures more than offset the earnings decline. Segment data – Surface Technologiesa Q2 H1 Million € 2026 2025 +/- 2026 2025 +/- Sales to third parties 2,625 2,355 11.5 % 5,031 4,544 10.7 % of which Battery Materials 174 169 3.0 % 309 290 6.4 % ECMS 2,451 2,068 18.5 % 4,722 4,026 17.3 % Coatingsb – 119 -100.0 % – 227 -100.0 % EBITDA before special items 115 172 -33.0 % 391 342 14.2 % Special items in EBITDA -14 -35 61.4 % -17 -45 63.0 % EBITDA 102 137 -25.7 % 374 297 25.8 % EBITDA margin before special items (%) 4.4 7.3 . 7.8 7.5 . Depreciation and amortizationc 50 56 -11.4 % 102 113 -10.3 % EBIT before special items 68 119 -42.6 % 293 232 26.1 % Special items in EBIT -16 -38 57.1 % -21 -48 57.1 % Income from operations (EBIT) 52 81 -35.7 % 272 184 48.0 % Investments including acquisitionsd 23 30 -21.9 % 44 51 -12.8 % Segment cash flow -28 63 . 120 62 94.3 % Assets (June 30) 6,405 5,851 9.5 % 6,405 5,851 9.5 % Research and development expenses 33 40 -17.9 % 68 82 -16.6 % a Owing to the sale of the automotive OEM coatings, automotive refinish coatings and surface treatment businesses to Carlyle, the affected business units were reported as a discontinued operation in accordance with IFRS 5 until the closing of the transaction on June 30, 2026. The previous year’s values have been restated accordingly, even if no retrospective adjustment was made in the balance sheet. b The figures of the Coatings division refer exclusively to the decorative paints business unit, which was sold as of October 1, 2025. c Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) excluding depreciation and amortization or reversals of impairments attributable to the discontinued Coatings business d Additions to intangible assets and property, plant and equipment, excluding additions attributable to the discontinued Coatings business; prior-year figures have been restated Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Surface Technologies 28
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Agricultural Solutions Q2 2026 At a glance €448 million €881 million EBITDA before special items Segment cash flow Q2 2025: €417 million Q2 2025: €811 million Sales in the Agricultural Solutions segment increased slightly in the second quarter compared with the prior-year period. Higher sales volumes in South America and Asia were largely offset by lower prices as well as currency effects. Factors influencing sales in Q2 2026 – Agricultural Solutions Agricultural Solutions Volumes 4.0 % Prices -2.5 % Currencies -1.2 % Portfolio 0.2 % Sales 0.6 % In Europe, sales declined due to decreased volumes caused by adverse weather conditions as well as negative currency effects, mainly relating to the Turkish lira. Higher prices had a partial offsetting effect. Sales in North America decreased slightly. Higher Fungicide and Seed Treatment sales volumes compensated for lower volumes in Herbicides and Seeds & Traits. Currency effects weighed on sales. The Asia Pacific region recorded a decline in sales, primarily due to lower prices for herbicides in India and China. Unfavorable currency effects, mainly relating to the Indian rupee, additionally hampered sales development. Slightly higher volumes partially offset this. In the South America, Africa, Middle East region, sales rose considerably. This was mainly attributable to higher volumes in Brazil and Argentina due to front-loaded sales in advance of the changeover of the ERP system in the region. Positive currency effects supported the sales trend. Lower prices had an offsetting effect. EBITDA before special items was slightly above the value of the prior-year quarter, mainly owing to an improved contribution margin. Increased fixed costs due to higher research and development expenses partially offset the positive earnings development. Special items in EBITDA amounted to -€33 million. These resulted primarily from expenses in connection with the legal separation of the division and the changeover to the new ERP system. Segment cash flow was slightly above the level of the prior-year quarter, primarily thanks to increased EBITDA. The cash released from a decrease in inventories was counterbalanced by a lower cash inflow from trade accounts receivable. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Agricultural Solutions 29
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Segment data – Agricultural Solutions Q2 H1 Million € 2026 2025 +/- 2026 2025 +/- Sales to third parties 2,210 2,198 0.6 % 5,315 5,401 -1.6 % of which Fungicides 652 643 1.3 % 1,598 1,520 5.1 % Herbicides 836 866 -3.5 % 1,707 1,769 -3.5 % Insecticides 250 259 -3.5 % 515 543 -5.3 % Seed Treatment 144 111 29.1 % 271 257 5.5 % Seeds & Traits 329 319 3.2 % 1,224 1,312 -6.7 % EBITDA before special items 448 417 7.5 % 1,550 1,621 -4.4 % Special items in EBITDA -33 -64 48.1 % -57 -79 27.5 % EBITDA 415 353 17.5 % 1,493 1,542 -3.2 % EBITDA margin before special items (%) 20.3 19.0 . 29.2 30.0 . Depreciation and amortizationa 140 144 -3.3 % 274 303 -9.5 % EBIT before special items 309 272 13.4 % 1,277 1,320 -3.2 % Special items in EBIT -34 -64 46.9 % -59 -80 26.8 % Income from operations (EBIT) 275 209 31.9 % 1,219 1,240 -1.7 % Investments including acquisitionsb 66 70 -4.8 % 257 141 81.9 % Segment cash flow 881 811 8.5 % -279 -166 -68.0 % Assets (June 30) 16,361 15,834 3.3 % 16,361 15,834 3.3 % Research and development expenses 253 232 9.0 % 477 452 5.4 % a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) b Additions to property, plant and equipment and intangible assets Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Agricultural Solutions 30
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Other Q2 2026 At a glance €948 million €80 million Sales EBITDA before special items Q2 2025: €715 million Q2 2025: -€114 million Sales in Other increased considerably in the second quarter of 2026, mainly resulting from higher sales in commodity and energy trading. Compared with the prior-year quarter, EBITDA before special items also increased considerably. This was predominantly attributable to valuation effects on commodity derivatives used as hedging instruments. EBITDA in Other included special items in the amount of -€352 million in the second quarter of 2026, which mainly arose in connection with restructuring measures. Financial data – Othera Q2 H1 Million € 2026 2025 +/- 2026 2025 +/- Sales to third parties 948 715 32.6 % 1,797 1,618 11.1 % EBITDA before special items 80 -114 . -239 -388 38.4 % of which costs for cross-divisional corporate research -35 -37 4.2 % -66 -74 10.4 % costs of corporate headquarters -65 -60 -7.6 % -123 -119 -3.4 % other businesses 59 64 -8.8 % 114 90 26.7 % miscellaneous income and expenses 121 -81 . -164 -285 42.6 % Special items in EBITDA -352 -98 -258.0 % -446 -478 6.7 % EBITDA -272 -212 -28.3 % -685 -866 20.9 % Depreciation and amortizationb 48 36 32.0 % 83 74 12.8 % EBIT before special items 40 -150 . -314 -461 32.0 % Special items in EBIT -360 -99 -265.3 % -455 -479 5.0 % Income from operations (EBIT) -320 -248 -28.8 % -768 -940 18.2 % Investments including acquisitionsc 25 30 -18.2 % 50 64 -22.6 % Assets (June 30)d 19,502 17,496 11.5 % 19,502 17,496 11.5 % Research and development expenses 47 57 -17.9 % 92 129 -28.2 % a The prior-year figures have been restated due to the divestiture of the automotive OEM coatings, automotive refinish coatings and surface treatment business units. b Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) c Additions to intangible assets and property, plant and equipment d Includes assets of businesses recognized under Other and reconciliation to assets of the BASF Group Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Other 31
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Reconciliation Tables of Various Earnings Indicators H1 2026 EBITDA before special items H1 Million € 2026 2025 EBIT 2,198 1,555 – Special items -715 -723 EBIT before special items 2,913 2,278 + Depreciation and amortization 1,865 1,767 + Impairments and reversals of impairments on property, plant and equipment and intangible assets before special items 27 45 Depreciation, amortization, impairments and reversals of impairments on property, plant and equipment and intangible assets before special items 1,892 1,813 EBITDA before special items 4,805 4,090 Sales revenue 33,226 31,297 EBITDA margin before special items % 14.5 13.1 EBITDA H1 Million € 2026 2025 EBIT 2,198 1,555 + Depreciation and amortization 1,865 1,767 + Impairments and reversals of impairments on property, plant and equipment and intangible assets 88 70 Depreciation, amortization, impairments and reversals of impairments on property, plant and equipment and intangible assets 1,953 1,838 EBITDA 4,151 3,392 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Reconciliation Tables of Various Earnings Indicators 32
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Adjusted earnings per share H1 Million € 2026 2025 Income after taxes 5,100 945 − Special itemsa -722 -812 + Amortization, impairments and reversals of impairments on intangible assets 181 207 – Amortization, impairments and reversals of impairments on intangible assets contained in special items 6 9 − Adjustments to income taxes -207 55 − Adjustments to income after taxes from discontinued operations 3,892 5 Adjusted income after taxes 2,312 1,895 − Adjusted noncontrolling interests 41 60 Adjusted net income 2,271 1,835 Weighted average number of outstanding sharesb in thousands 872,743 892,522 Adjusted earnings per share € 2.60 2.06 a This includes special charges of €8 million in financial result and net income from shareholdings for the first half of 2026 and special income of €21 million for the first half of 2025. b As a result of the share buyback program that commenced in November 2025, the weighted average number of outstanding shares amounted to 872,743,259 in the first half of 2026 and 892,522,164 in the first half of 2025. Reconciliation of segment cash flow to free cash flow H1 Million € 2026 2025 Segment cash flow -991 -135 + Net income from shareholdings -25 -123 + Financial result -295 -198 + Income taxesa -406 -387 + Segment cash flow, net income from shareholdings, financial result and income taxes from discontinued operations -544 -24 – Income after taxes attributable to noncontrolling interests 28 58 + Changes in items included in segment cash flow that are recognized under Other, as well as other items presented in cash flows from operating activitiesb 725 -340 Free cash flow -1,564 -1,266 a The value corresponds to the amount reported in the statement of income and does not represent a cash flow. b For more information on the composition of the items, see Our Steering Concept from page 29 onward in the BASF Report 2025 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Reconciliation Tables of Various Earnings Indicators 33
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Q2 Reconciliation Tables of Various Earnings Indicators Q2 2026 EBITDA before special items Q2 Million € 2026 2025 EBIT 937 395 – Special items -542 -291 EBIT before special items 1,479 686 + Depreciation and amortization 946 874 + Impairments and reversals of impairments on property, plant and equipment and intangible assets before special items 24 35 Depreciation, amortization, impairments and reversals of impairments on property, plant and equipment and intangible assets before special items 970 909 EBITDA before special items 2,449 1,595 Sales revenue 17,206 14,788 EBITDA margin before special items % 14.2 10.8 EBITDA Q2 Million € 2026 2025 EBIT 937 395 + Depreciation and amortization 946 874 + Impairments and reversals of impairments on property, plant and equipment and intangible assets 82 53 Depreciation, amortization, impairments and reversals of impairments on property, plant and equipment and intangible assets 1,028 927 EBITDA 1,965 1,323 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Reconciliation Tables of Various Earnings Indicators 34
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Adjusted earnings per share Q2 Million € 2026 2025 Income after taxes 4,154 108 − Special itemsa -544 -311 + Amortization, impairments and reversals of impairments on intangible assets 93 146 – Amortization, impairments and reversals of impairments on intangible assets contained in special items 6 – − Adjustments to income taxes -226 57 − Adjustments to income after taxes from discontinued operations 3,881 45 Adjusted income after taxes 1,131 462 − Adjusted noncontrolling interests 21 29 Adjusted net income 1,110 432 Weighted average number of outstanding sharesb in thousands 867,184 892,522 Adjusted earnings per share € 1.28 0.48 a This includes special charges of €2 million in the financial result for the second quarter of 2026 and special income of €21 million in the financial result and net income from shareholdings for the second quarter of 2025. b As a result of the share buyback program that commenced in November 2025, the weighted average number of outstanding shares amounted to 867,183,730 in the second quarter of 2026 and 892,522,164 in the second quarter of 2025. Reconciliation of segment cash flow to free cash flow Q2 Million € 2026 2025 Segment cash flow 469 1,152 + Net income from shareholdings 20 -72 + Financial result -177 -102 + Income taxesa -191 -193 + Segment cash flow, net income from shareholdings, financial result and income taxes from discontinued operations -575 -34 – Income after taxes attributable to noncontrolling interests 10 29 + Changes in items included in segment cash flow that are recognized under Other, as well as other items presented in cash flows from operating activitiesb 276 -189 Free cash flow -189 533 a The value corresponds to the amount reported in the statement of income and does not represent a cash flow. b For more information on the composition of the items, see Our Steering Concept from page 29 onward in the BASF Report 2025. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Reconciliation Tables of Various Earnings Indicators 35
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Condensed Consolidated Half-Year Financial Statements as of June 30, 2026 Statement of Incomea Explanations in Note Q2 H1 Million € 2026 2025 2026 2025 Sales revenue 17,206 14,788 33,226 31,297 Cost of sales -12,872 -11,119 -24,739 -23,204 Gross profit on sales 4,334 3,668 8,487 8,092 Selling expenses -1,980 -1,916 -3,806 -3,767 General administrative expenses -304 -334 -607 -675 Research and development expenses -472 -479 -909 -958 Other operating income [5] 222 319 874 617 Other operating expenses [5] -908 -846 -1,917 -1,441 Income from integral companies accounted for using the equity method 45 -17 76 -313 Income from operations (EBIT) 937 395 2,198 1,555 Income from non-integral companies accounted for using the equity method 3 -75 -57 -124 Income from other shareholdings 30 6 63 8 Expenses from other shareholdings -13 -3 -31 -7 Net income from shareholdings 20 -72 -25 -123 Interest income 75 74 153 163 Interest expenses -246 -221 -458 -436 Interest result -172 -147 -305 -273 Other financial income 21 76 63 147 Other financial expenses -25 -32 -54 -72 Other financial result -5 44 9 75 Financial result -177 -102 -295 -198 Income before income taxes 780 221 1,879 1,234 Income taxes -191 -193 -406 -387 Income after taxes from continuing operations 589 28 1,473 846 Income after taxes from discontinued operations [3] 3,565 80 3,627 99 Income after taxes 4,154 108 5,100 945 of which attributable to shareholders of BASF SE (net income) 4,144 79 5,072 887 attributable to noncontrolling interests 10 29 28 58 Earnings per share from continuing operations (€) 0.67 0.01 1.66 0.89 Earnings per share from discontinued operations (€) 4.11 0.08 4.16 0.10 Earnings per share (€) 4.78 0.09 5.81 0.99 Dilution effect (€) – – – – Diluted earnings per share (€) 4.78 0.09 5.81 0.99 a Owing to the divestiture of the automotive OEM coatings, automotive refinish coatings and surface treatment businesses to Carlyle, the affected business units were classified as discontinued operations in accordance with IFRS 5 until the closing of the transaction on June 30, 2026. The prior-year figures were restated. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Statement of Income 36
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Statement of Income and Expense Recognized in Equity BASF Group statement of comprehensive incomea H1 Million € 2026 2025 Income after taxes 5,100 945 Remeasurement of defined benefit plansb 236 475 Deferred taxes on the remeasurement of defined benefit plans -32 -165 Investments accounted for using the equity method – share of nonreclassifiable gains/losses (after taxes) 9 0 Nonreclassifiable gains/losses 212 310 Unrealized gains/losses from debt instruments measured at fair value through other comprehensive income -2 3 Reclassification of realized gains/losses from debt instruments measured at fair value recognized in the statement of income 0 -4 Unrealized gains/losses in connection with cash flow hedges 65 -318 Reclassification of realized gains/losses recognized in the statement of income in connection with cash flow hedges -101 366 Unrealized gains/losses from currency translation 730 -2,112 Reclassification of realized gains/losses from currency translation recognized in the statement of income 220 -18 Deferred taxes on reclassifiable gains/losses 13 -12 Investments accounted for using the equity method – share of reclassifiable gains/losses (after taxes) 93 -449 Investments accounted for using the equity method – reclassification of realized gains/losses recognized in the statement of income -12 -2 Reclassifiable gains/losses 1,005 -2,546 Other comprehensive income after taxes 1,217 -2,236 of which attributable to shareholders of BASF SE 1,168 -2,099 attributable to noncontrolling interests 49 -138 Comprehensive income 6,317 -1,291 of which attributable to shareholders of BASF SE 6,240 -1,212 attributable to noncontrolling interests 78 -80 a For more information on other comprehensive income, see Note 19 on page 372 of the BASF Report 2025. b For more information on the remeasurements of defined benefit plans, see Note 21 from page 376 onward of the BASF Report 2025. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Statement of Income and Expense Recognized in Equity 37
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Balance Sheet Assets Million € Explanations in Note June 30, 2026 December 31, 2025 June 30, 2025 Intangible assets 9,847 9,692 10,935 Property, plant and equipment 25,854 25,405 25,756 Integral investments accounted for using the equity method 3,052 1,746 1,726 Non-integral investments accounted for using the equity method [6] 1,636 3,247 2,877 Other financial assets 1,061 1,055 1,196 Deferred tax assets 608 544 632 Receivables for income taxes 92 97 92 Other receivables and miscellaneous assets 2,932 2,702 2,556 Noncurrent assets 45,082 44,489 45,769 Inventories 13,814 12,168 13,631 Accounts receivable, trade 11,748 8,325 11,225 Receivables for income taxes 636 696 664 Other receivables and miscellaneous assets 4,656 3,762 3,358 Marketable securities 91 89 56 Cash and cash equivalents 7,796 2,670 2,517 Assets of disposal groups [3] 45 3,973 449 Current assets 38,785 31,684 31,899 Total assets 83,867 76,174 77,668 Equity and liabilities Million € Explanations in Note June 30, 2026 December 31, 2025 June 30, 2025 Subscribed capital 1,142 1,142 1,142 Capital reserves 3,131 3,131 3,139 Retained earnings 31,866 29,931 29,746 Other comprehensive income 180 -1,009 -1,670 Equity attributable to shareholders of BASF SE 36,319 33,194 32,357 Noncontrolling interests 1,077 1,143 1,147 Equity [7] 37,396 34,338 33,504 Provisions for pensions and similar obligations 1,786 1,832 2,202 Deferred tax liabilities 893 953 972 Income tax provisions 423 401 329 Other provisions 1,755 1,854 1,684 Financial indebtedness [8] 18,827 18,481 18,960 Other liabilities 1,875 1,903 1,837 Noncurrent liabilities 25,559 25,424 25,983 Accounts payable, trade 6,247 5,484 5,852 Provisions 4,330 3,693 4,112 Liabilities for income taxes 730 213 428 Financial indebtedness [8] 6,177 2,608 4,894 Other liabilities 3,425 3,405 2,811 Liabilities of disposal groups [3] 3 1,008 84 Current liabilities 20,912 16,411 18,181 Total equity and liabilities 83,867 76,174 77,668 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Balance Sheet 38
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Statement of Cash Flows Q2 H1 Million € 2026 2025 2026 2025 Net income 4,144 79 5,072 887 Depreciation and amortization of property, plant and equipment and intangible assetsa 1,034 982 1,958 1,962 Equity-accounted income -48 92 -19 437 Gains (-) / losses (+) from the disposal of noncurrent assets as well as divestmentsb -2,710 -21 -2,722 -29 Other noncash items and reclassificationsb -1,543 -201 -1,559 -205 Dividends received from equity-accounted investments 73 120 890 147 Changes in inventories -871 -217 -1,499 -660 Changes in accounts receivable, trade -113 730 -3,090 -1,579 Changes in accounts payable, trade 44 -475 664 -685 Changes in provisions -98 90 380 924 Changes in other operating assets 799 -29 -665 -533 Changes in other operating liabilities and pension provisions -188 435 318 -64 Cash flows from operating activities 524 1,585 -273 603 Payments made for property, plant and equipment and intangible assets -713 -1,053 -1,291 -1,869 Payments made for financial assets and securities -164 -867 -337 -1,051 Payments made for investments in equity instruments -2 -52 -33 -68 Payments made for acquisitions less acquired cash and cash equivalents 1 – -124 – Payments received from divestitures less transferred cash and cash equivalents as well as subsequent purchase price adjustments 5,592 -4 5,559 -1 Payments received from the disposal of noncurrent assets and securities 280 860 556 1,084 Payments received from the disposal of equity instruments 501 3 790 118 Cash flows from investing activities 5,496 -1,112 5,121 -1,786 Capital repayments and other equity transactions -652 – -1,145 – Additions to financial and similar liabilities 2,964 3,373 6,396 5,275 Repayment of financial and similar liabilities -1,843 -1,543 -3,213 -2,355 Dividends paid -1,965 -2,052 -1,965 -2,052 Cash flows from financing activities -1,496 -223 72 867 Cash-effective changes in cash and cash equivalents 4,524 250 4,920 -315 Changes in cash and cash equivalents from foreign exchange rates and changes in the scope of consolidation 20 -59 58 -89 Cash and cash equivalents at the beginning of the periodc 3,252 2,325 2,818 2,921 Cash and cash equivalents at the end of the periodc 7,796 2,517 7,796 2,517 a This item includes depreciation and amortization, impairments and reversals of impairments. b For improved presentation of material effects, the item “Gains (-) / losses (+) from disposals of noncurrent assets” has been supplemented by the result from divestments. Previously, this result was included under “Other noncash items and reclassifications.” The prior-year figures have been adjusted accordingly. An amount of €14 million was reclassified for the first half of 2025 and €13 million for the second quarter of 2025. c As of March 31, 2026, and December 31, 2025, and as of March 31, 2025, and December 31, 2024, the cash and cash equivalents in the statement of cash flows differ from the value in the balance sheet due to the existence of disposal groups. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Statement of Cash Flows 39
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Statement of Changes in Equity H1 2026a Million € Subscribed capital Capital reserves Retained earnings Remeasurement of defined benefit plans Currency translation Measurement of securities at fair value Cash flow hedges Other comprehensive incomeb Equity attributable to shareholders of BASF SE Noncontrolling interests Equity January 1, 2026 1,142 3,131 29,931 127 -1,306 10 160 -1,009 33,194 1,143 34,338 Treasury shares – – -1,145 – – – – – -1,145 – -1,145 Dividends – – -1,964 – – – – – -1,964 -61 -2,025 Income after taxes – – 5,072 – – – – – 5,072 28 5,100 Other comprehensive income after taxes – – – 212 1,009 -1 -51 1,168 1,168 49 1,217 Gains and losses on cash flow hedges and hedging costs eliminated from other comprehensive income not affecting profit and loss – – – – – – -9 -9 -9 – -9 Changes in scope of consolidation and other changes – – -27 31 – 0 – 31 4 -83 -79 June 30, 2026 1,142 3,131 31,866 369 -298 9 100 180 36,319 1,077 37,396 a For more information on the items relating to equity, see Note 7 on page 53 of this half-year financial report. b Details are provided in the Statement of Income and Expense Recognized in Equity on page 37 of this half-year financial report. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Statement of Changes in Equity 40
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H1 2025a Million € Subscribed capital Capital reserves Retained earningsb Remeasurement of defined benefit plans Currency translation Measurement of securities at fair value Cash flow hedges Other comprehensive incomec Equity attributable to shareholders of BASF SEb Noncontrolling interests Equityb January 1, 2025 1,142 3,139 30,870 -451 1,102 -168 -48 435 35,586 1,285 36,871 Treasury shares – – – – – – – – – – – Dividends – – -2,008 – – – – – -2,008 -44 -2,052 Income after taxes – – 887 – – – – – 887 58 945 Other comprehensive income after taxes – – – 310 -2,441 -1 33 -2,099 -2,099 -138 -2,236 Gains and losses on cash flow hedges and hedging costs eliminated from other comprehensive income not affecting profit and loss – – – – – – -7 -7 -7 – -7 Changes in scope of consolidation and other changes – – -3 – – – – – -3 -14 -17 June 30, 2025 1,142 3,139 29,746 -140 -1,339 -169 -22 -1,670 32,357 1,147 33,504 a For more information on the items relating to equity, see Note 7 on page 53 of this half-year financial report. b With the first-time application of the amendments to IFRS 9 and IFRS 7 relating to Contracts Referencing Nature-dependent Electricity, one PPA was derecognized against the opening balance of equity. Since no adjustment was made to the prior-year figures, the opening balance as of January 1, 2025, differs from the closing balance as of December 31, 2024. c Details are provided in the Statement of Income and Expense Recognized in Equity on page 37 of this half-year financial report. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Statement of Changes in Equity 41
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Segment Reporting H1 Sales EBITDA before special itemsa EBITDAa EBIT before special items Million € 2026 2025 2026 2025 2026 2025 2026 2025 Chemicals 6,257 5,279 610 545 580 506 16 115 Materials 7,028 6,690 1,303 877 1,271 845 928 444 Industrial Solutions 4,420 4,428 795 668 740 653 597 455 Nutrition & Care 3,378 3,337 396 425 379 415 115 172 Surface Technologiesd 5,031 4,544 391 342 374 297 293 232 Agricultural Solutions 5,315 5,401 1,550 1,621 1,493 1,542 1,277 1,320 Otherd 1,797 1,618 -239 -388 -685 -866 -314 -461 BASF Groupd 33,226 31,297 4,805 4,090 4,151 3,392 2,913 2,278 H1 Segment cash flowb Research and development costs Assets Investments including acquisitionsc Million € 2026 2025 2026 2025 2026 2025 2026 2025 Chemicals -848 -567 41 41 15,957 13,890 729 972 Materials 30 300 86 91 10,422 9,770 302 335 Industrial Solutions 46 366 86 94 7,192 6,952 144 145 Nutrition & Care -58 -130 59 69 8,028 7,875 169 308 Surface Technologiesd 120 62 68 82 6,405 5,851 44 51 Agricultural Solutions -279 -166 477 452 16,361 15,834 257 141 Otherd 92 129 19,502 17,496 50 64 BASF Groupd 909 958 83,867 77,668 1,695 2,017 a For an explanation of this indicator, see Our Steering Concept on page 29 of the BASF Report 2025 and the reconciliation tables from page 32 onward of this half-year financial report. b For an explanation of this indicator, see Our Steering Concept from page 29 onward of the BASF Report 2025. For a reconciliation of the segment cash flow of -€991 million for the first half of 2026 to the BASF Group’s free cash flow, see reconciliation tables from page 32 onward in this half-year financial report. c Additions to property, plant and equipment and intangible assets d The prior-year figures were adjusted as a result of the divestiture of the automotive OEM coatings, automotive refinish coatings and surface treatment businesses. EBITDA before special items of Other H1 Million € 2026 2025 Sales 1,797 1,618 EBITDA before special items of Other -239 -388 of which costs for cross-divisional corporate research -66 -74 costs of corporate headquarters -123 -119 other businesses 114 90 miscellaneous income and expenses -164 -285 Special items in EBITDA -446 -478 EBITDA -685 -866 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Segment Reporting 42
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Notes to the Consolidated Half-Year Financial Statements 1 Basis of presentation The Consolidated Financial Statements of BASF SE for the year ending December 31, 2025, were prepared in accordance with the International Financial Reporting Standards (IFRS®) and pronouncements of the International Financial Reporting Interpretations Committee (IFRIC®) applicable as of the balance sheet date. In line with the rules of International Accounting Standard 34, the Consolidated Half-Year Financial Statements as of June 30, 2026, have been prepared in condensed form and continuing the same accounting policies, with the exception of those policies named in the table below. All amounts, including the figures for previous years, are given in million euros unless otherwise indicated. Due to rounding, individual figures in this report may not add up to the totals shown and percentages may not correspond exactly to the figures shown. The Condensed Consolidated Half-Year Financial Statements and the Consolidated Interim Management’s Report as of June 30, 2026, were reviewed by our auditor Deloitte GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt am Main. They are written in German and translated into English. » The BASF Report 2025 containing the Consolidated Financial Statements as of December 31, 2025, can be found online at basf.com/report Accounting policies applied for the first time in 2026 Standard/ interpretation Name of standard/interpretation or amendments Date of publication Date of endorsement by the EU Amendments to IFRS 9 and IFRS 7 Financial Instruments / Financial Instruments: Disclosures (Amendments to the Classification and Measurement of Financial Instruments) May 30, 2024 May 27, 2025 Annual Improvements to IFRS Accounting Standards – Volume 11 Amendments to – IFRS 1 First-Time Adoption of International Financial Reporting Standards (Hedge Accounting by a First-Time Adopter) – IFRS 7 Financial Instruments: Disclosures (Gain or Loss on Derecognition) Guidance on Implementing IFRS 7 – IFRS 9 Financial Instruments (Derecognition of Lease Liabilities / Transaction Price) – IFRS 10 Consolidated Financial Statements (Determination of a “De Facto Agent”) – IAS 7 Statement of Cash Flows (Cost Method) July 18, 2024 July 9, 2025 These amendments had no material effect on the Consolidated Half-Year Financial Statements of BASF SE. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 43
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IFRS Accounting Standards and IFRICs not yet to be considered but already endorsed by the EU Standard/ interpretation Name of standard/interpretation or amendments Date of publication Date of endorsement Mandatory date of initial application Introduction of IFRS 18 Presentation and Disclosure in Financial Statements (Replaces policies under the current IAS 1 and introduces new disclosure requirements) April 9, 2024 February 13, 2026 January 1, 2027 The introduction of IFRS 18 will have a significant impact on the presentation of the statement of income. Income and expenses from foreign currency transactions will be presented in the prescribed categories in accordance with the standard’s requirements. BASF will recognize foreign currency effects from intra- group transactions that cannot be eliminated in accordance with IAS 21.45 in its operating activities, i.e., implement View 1 of the IFRIC agenda decision published in April 2026. In the statement of cash flows, interest and dividends received as well as interest paid will no longer be classified as cash flows from operating activities but will be reported under cash flows from investing or financing activities, respectively. Furthermore, the Standard requires that management-defined performance measures (MPMs) be disclosed in the notes to the financial statements. BASF currently intends to introduce new MPMs, the precise details of which are still being reviewed. BASF does not plan on early adoption of the described amendments. IFRS Accounting Standards and IFRICs not yet to be considered and not yet endorsed by the EU Standard/interpretation Name of standard/interpretation or amendments Date of publication Expected date of initial application Introduction of IFRS 19 Subsidiaries without Public Accountability: Disclosures (Reduced disclosure requirements for eligible subsidiaries) May 9, 2024 January 1, 2027 Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures (Reduced disclosure requirements for eligible subsidiaries) August 21, 2025 January 1, 2027 Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates (Translation to a Hyperinflationary Presentation Currency) November 13, 2025 January 1, 2027 Introduction of IFRS 20 Regulatory Assets and Regulatory Liabilities (Accounting of price-regulated activities) May 27, 2026 January 1, 2029 Amendments to IAS 28 Investments in Associates and Joint Ventures (Clarification of the fair value option for investments) June 26, 2026 January 1, 2027 The introduction of IFRS 19 and Amendments to IFRS 19 do not affect the Consolidated Financial Statements of BASF SE, as BASF SE does not fall within the scope of application of this standard. The Amendments to IAS 21 and IAS 28 and the introduction of IFRS 20 are not expected to have an impact on BASF’s reporting. BASF does not plan on early adoption of the abovementioned amendments. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 44
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The following exchange rates were used for the translation of major currencies in the Group: Selected exchange rates Closing rates Average rates H1 EUR 1 equals June 30, 2026 Dec. 31, 2025 2026 2025 Brazil (BRL) 5.90 6.44 6.01 6.29 China (CNY) 7.73 8.23 8.01 7.92 Japan (JPY) 185.08 184.09 184.46 162.12 Malaysia (MYR) 4.65 4.77 4.64 4.78 Mexico (MXN) 19.90 21.12 20.38 21.80 Switzerland (CHF) 0.92 0.93 0.92 0.94 South Korea (KRW) 1,767.08 1,696.94 1,730.66 1,556.50 United States (USD) 1.14 1.18 1.17 1.09 United Kingdom (GBP) 0.86 0.87 0.87 0.84 The following assumptions were used to determine the defined benefit obligation: Assumptions used to determine the defined benefit obligation Germany United States Switzerland United Kingdom % June 30, 2026 Dec. 31, 2025 June 30, 2026 Dec. 31, 2025 June 30, 2026 Dec. 31, 2025 June 30, 2026 Dec. 31, 2025 Discount rate 4.30 4.20 5.40 5.20 1.10 1.20 5.80 5.40 Projected pension increase 2.00 2.00 – – – – 3.20 2.80 2 Scope of consolidation In addition to BASF SE, all material subsidiaries are included in the BASF Group Consolidated Financial Statements on a fully consolidated basis. Joint arrangements that are classified as joint operations according to IFRS 11 are proportionally consolidated. Changes in the number of fully and proportionally consolidated companies are shown in the table. Scope of consolidation Number of companies 2026 2025 As of January 1 282 277 of which proportionally consolidated 8 9 First-time consolidationsa 12 14 of which proportionally consolidated – – Deconsolidationsb 54 4 of which proportionally consolidated – – As of June 30 240 287 of which proportionally consolidated 8 9 a Acquisitions, newly established companies or reclassifications due to increased importance b Divestitures, mergers, liquidations or downgrades due to decreased importance Of the 12 newly consolidated companies, six were included in connection with the acquisition of AgBiTech, four were newly established, and two were companies with increased importance. In connection with the sale of the Coatings business, 51 companies were deconsolidated. In addition, one company was liquidated, one company was merged, and one company was no longer included in the Consolidated Financial Statements due to its decreased importance. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 45
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Companies accounted for using the equity method 2026 2025 As of January 1 22 24 As of June 30 20 21 3 Acquisitions/divestitures Acquisitions On March 31, 2026, after receiving all necessary regulatory approvals, BASF acquired 100% of the shares in AgBiTech, Brisbane, Australia. AgBiTech specializes in biological insect control solutions and has established a strong footprint in Brazil, one of the most dynamic markets for biological crop protection. With this acquisition, BASF will be able to scale AgBiTech’s technologies – in Brazil as well as other countries – and integrate them into BASF’s portfolio globally. The transaction included all assets such as intellectual property rights, production sites, research and development facilities and employees. The activities are reported in the Agricultural Solutions operating division. The purchase price amounted to €145 million, of which €129 million was cash-effective. The remaining €16 million is attributable to contingent consideration within the meaning of IFRS 3.39, measured at fair value as of the acquisition date. If AgBiTech achieves certain gross profit targets for the fiscal years July 1, 2025, to June 30, 2026, and July 1, 2026, to June 30, 2027, amounts of between 0 and 10 million U.S. dollars are payable in the second half of 2026 and 2027, respectively. The possible total payment on an undiscounted basis amounts to between €0 and €17 million. Goodwill of €54 million resulted in particular from sales synergies and is not tax deductible. The acquired business accounted for €5 million in sales and -€7 million in income from operations in the first half of 2026. Fully consolidating the businesses and assets of AgBiTech in BASF’s Consolidated Half-Year Financial Statements as of January 1, 2026, would have resulted in a sales revenue contribution of €11 million and income from operations of -€15 million. These pro forma data are for comparison purposes. These values would not necessarily have resulted had the transaction taken place as of January 1, 2026, and are not suitable for forecasting future developments or events. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 46
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The following table shows the preliminary fair values of the assets and liabilities of the AgBiTech companies. Preliminary purchase price allocation for the acquisition of AgBiTech Million € Fair values as of date of acquisition Goodwill 54 Other intangible assets 51 Property, plant and equipment 9 Integral investments accounted for using the equity method – Non-integral investments accounted for using the equity method – Other financial assets – Deferred tax assets 0 Receivables for income taxes – Other receivables and miscellaneous assets – Noncurrent assets 115 Inventories 12 Accounts receivable, trade 24 Receivables for income taxes 0 Other receivables and miscellaneous assets 2 Marketable securities – Cash and cash equivalents 7 Current assets 45 Total assets 160 Provisions for pensions and similar obligations – Deferred tax liabilities 4 Income tax provisions – Other provisions – Financial indebtedness – Other liabilities 1 Noncurrent liabilities 6 Accounts payable, trade 1 Provisions 0 Liabilities for income taxes 0 Financial indebtedness – Other liabilities 7 Current liabilities 9 Total liabilities 14 Total purchase price 145 The purchase price allocation considers all the facts and circumstances prevailing as of the date of acquisition that were known prior to the preparation of these half-year financial statements. If further facts and circumstances become known within the 12-month valuation period pursuant to IFRS 3, the purchase price allocation will be recalculated accordingly. Divestitures On June 30, 2026, BASF and Carlyle, Washington D.C., completed the sale of BASF’s automotive OEM coatings, automotive refinish coatings and surface treatments business units (“Coatings”) following approval by all relevant authorities. BASF received pretax cash proceeds of approximately €5.8 billion on June 30, 2026. Following the completion of the transaction, BASF now holds a 40% equity stake in the company Surventis, which comprises the former BASF Coatings business. This shareholding is reported under Other as an integral equity-accounted investment. From the signing of the agreement until the Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 47
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closing of the transaction on June 30, 2026, BASF’s Coatings business was reported as discontinued operations in accordance with IFRS 5. In 2026, impairments of approximately €1 million were recognized. Earnings from the discontinued Coatings business until June 30, 2026, were as follows: Statement of income from the discontinued Coatings business H1 Million € 2026 2025 Sales 1,763 1,874 Cost of sales -821 -935 Gross profit on sales 942 939 Selling expenses -527 -599 General administrative expenses -81 -58 Research and development expenses -35 -41 Other operating income and expenses -127 -105 Disposal gain before income taxes 3,933 – EBIT 4,105 136 Net income from shareholdings 1 0 Financial result -3 -6 Income before income taxes 4,103 130 Income taxes -476 -31 Income after income taxes 3,627 99 of which attributable to noncontrolling interests 9 9 Income after noncontrolling interests 3,618 90 Earnings per share from discontinued operations (€) 4.16 0.10 In the first half of 2026, the other comprehensive income after taxes attributable to shareholders of BASF SE amounted to €1,168 million (prior-year period: -€2,099 million), of which -€32 million (prior-year period: €195 million) was attributable to the discontinued Coatings business. The calculation of the disposal gain, which is reported in income after taxes from discontinued operations, is presented in the following table: Calculation of the disposal gain on the discontinued Coatings business Million € June 30, 2026 Consideration received 7,123 Disposed net assets -3,057 Assets of the disposal group -4,291 Reinstated receivables 134 Liabilities of the disposal group 1,137 Reinstated liabilities -37 Noncontrolling interests 89 Recycling of income and expenses previously recognized directly in equity -220 Other -2 Disposal gain before taxes 3,933 Tax expense -426 Disposal gain after taxes 3,507 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 48
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The 40% stake BASF received in Surventis, which comprises the former BASF Coatings business, is initially recognized at fair value. The fair value determination is based on the expectation that equity of the Coatings companies following the divestiture amounts to €3.2 billion. BASF’s 40% stake in this amount corresponds to a proportionate value of €1.3 billion. The discontinued Coatings business contributed the following amounts to BASF’s statement of cash flows: Cash flows from the discontinued Coatings business (excluding effects from the divestiture) H1 Million € 2026 2025 Cash flows from operating activities 58 71 Cash flows from investing activities -28 -51 Cash flows from financing activities -3 -13 Total 26 7 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 49
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Groups of assets and liabilities held for sale – On May 20, 2026, BASF announced the signing of a binding agreement for the sale of its silicates business, including assets at the Düsseldorf-Holthausen site, to PQ Germany GmbH, Wurzen, Germany. Both parties have agreed not to disclose the financial details of the transaction. Subject to customary closing conditions such as regulatory approvals, the transaction is expected to close in the second half of 2026. Upon agreement on the sale, the affected assets and liabilities were reclassified to a disposal group. Disposal group silicates business Million € June 30, 2026 Balance sheet Goodwill 5 Other intangible assets – Property, plant and equipment 33 Integral investments accounted for using the equity method – Non-integral investments accounted for using the equity method – Other financial assets – Deferred tax assets – Receivables for income taxes – Other receivables and miscellaneous assets – Noncurrent assets 38 Inventories 7 Accounts receivable, trade – Receivables for income taxes – Other receivables and miscellaneous assets – Marketable securities – Cash and cash equivalents – Current assets 7 Assets of the disposal group 45 Provisions for pensions and similar obligations 3 Deferred tax liabilities – Income tax provisions – Other provisions – Financial indebtedness – Other liabilities – Noncurrent liabilities 3 Accounts payable, trade – Provisions – Liabilities for income taxes – Financial indebtedness – Other liabilities – Current liabilities – Liabilities of the disposal group 3 Net assets 42 4 Explanations regarding segment reporting There were no significant changes in the composition of the segments compared with the 2025 Consolidated Financial Statements. Following the announcement in October 2025 of a binding agreement to sell BASF’s automotive OEM coatings, automotive refinish coatings and surface treatment business units to Carlyle, Washington D.C., these businesses were allocated to a disposal group in accordance with IFRS 5 and subsequently reported as the discontinued Coatings business. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 50
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The prior-year figures were adjusted. The transaction was closed on June 30, 2026, and the assets and liabilities of the disposal group were derecognized. Reconciliation of segment income to income before income taxes H1 Million € 2026 2025 EBITDA before special items of the segments 5,044 4,478 EBITDA before special items of Other -239 -388 EBITDA before special items 4,805 4,090 Special items excluding depreciation and amortization of the segments -207 -220 Special items excluding depreciation and amortization of Other -446 -478 Special items excluding depreciation and amortization -654 -698 Depreciation and amortization of the segmentsa 1,870 1,764 Depreciation and amortization of Othera 83 74 Depreciation and amortizationa 1,953 1,838 EBIT of the segments 2,967 2,494 EBIT of Other -768 -940 EBIT 2,198 1,555 Net income from shareholdings -25 -123 Financial result -295 -198 Income before income taxes 1,879 1,234 a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments), excluding depreciation and amortization or impairments relating to the discontinued Coatings business; prior-year figures have been adjusted 5 Other operating income and expenses Other operating income H1 Million € 2026 2025 Income from the adjustment and release of provisions recognized in other operating expenses 21 37 Revenue from miscellaneous other activities 84 92 Income from hedging transactions and LTI programs 132 32 Income from foreign currency transactions and the translation of financial statements in foreign currencies 45 80 Gains on divestitures and the disposal of noncurrent assets 103 30 Gains/losses from precious metal trading 157 121 Income from refunds and government grants 187 76 Other 145 150 Other operating income 874 617 The decrease in income from the adjustment and release of provisions recognized in other operating expenses compared with the first half of 2025 was mainly due to lower releases of provisions for environmental protection measures in North America. Income from hedging transactions and LTI programs increased compared with the first half of 2025, primarily owing to higher income from the valuation of hedging transactions for natural gas purchases in Europe. The increase in gains on divestitures and the disposal of noncurrent assets resulted in particular from the settlement of a legal dispute in connection with a divestiture. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 51
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The increase in income from refunds and government grants in the first half of 2026 was attributable to, among other things, government grants in North America. Other operating expenses H1 Million € 2026 2025 Restructuring and integration measures 706 320 Environmental protection and safety measures, costs of demolition and removal, and project costs not subject to mandatory capitalization 137 231 Depreciation, amortization and impairments of noncurrent assets and of the disposal groups 93 72 Costs from miscellaneous revenue-generating activities 73 83 Expenses from hedging transactions and LTI programs 140 56 Losses from foreign currency transactions and the translation of financial statements in foreign currencies 92 146 Losses from divestitures and the disposal of noncurrent assets 21 31 Impairment losses (including reversals of impairments) on business-related receivables 85 30 Expenses for derecognition of obsolete inventory 106 87 Other 465 385 Other operating expenses 1,917 1,441 In both half-year periods, expenses for restructuring and integration measures primarily related to restructuring measures in connection with the cost savings program focusing on the Ludwigshafen site as well as restructuring measures to improve competitiveness in various operating divisions. The decrease in environmental protection and safety measures, costs of demolition and removal, and project costs not subject to mandatory capitalization resulted from lower expenses compared with the first half of 2025 for project costs not subject to mandatory capitalization at the new Verbund site in China. The increase in expenses from hedging transactions and LTI programs in the first half of 2026 was attributable to higher expenses from the valuation of hedging transactions. Impairment losses on business-related receivables in the first half of 2026 primarily related to the South America, Africa, Middle East region. Other expenses in the first half of 2026 resulted in part from expenses in connection with the changeover to the new ERP system in the Agricultural Solutions division and in the Core Businesses. 6 Investments accounted for using the equity method BASF reports the carrying amount of its investment in Harbour Energy plc, London, United Kingdom, under non-integral shareholdings accounted for using the equity method. As of June 30, 2026, the market value of the shares held by BASF was approximately €967 million, compared to a carrying amount of approximately €1,134 million. The shortfall in market value versus the carrying amount as of the reporting date is not considered significant or prolonged, and therefore does not constitute objective evidence of impairment in BASF’s view. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 52
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7 Equity Payment of dividends In accordance with the Resolution of the Annual Shareholders’ Meeting on April 30, 2026, BASF SE paid a dividend of €2.25 per qualifying share from the retained profit of the 2025 business year. With 873,001,886 qualifying shares, this represented total dividends of €1,964 million (prior-year period: €2,008 million). The remaining €700 million in retained profits (prior-year period: €696 million) was allocated to retained earnings. Share buyback / Authorization of share buybacks In 2022, the Annual Shareholders’ Meeting authorized the Board of Executive Directors, in accordance with section 71(1) no. 8 of the German Stock Corporation Act (AktG), to buy back shares until April 28, 2027. Based on this authorization, the Board of Executive Directors resolved on October 28, 2025, to implement a share buyback program of up to €1.5 billion. This buyback program commenced in November 2025 and concluded at the end of June 2026. By resolution of the Annual Shareholders’ Meeting of April 30, 2026, the authorization from 2022 was cancelled prematurely and replaced by a new authorization. In accordance with section 71(1) no. 8 AktG, the Board of Executive Directors is authorized until April 29, 2031, to buy back shares up to a maximum of 10% of the share capital. The options for the use of bought-back shares include, among other things, the redemption of shares and extend to shares acquired through previous authorization resolutions in accordance with section 71(1) no. 8 AktG as well as to shares acquired from Group companies or in accordance with section 71d sentence 5 AktG. Under the aforementioned authorizations, BASF acquired 23,403,314 shares (2.62% of its share capital) on the stock exchange between January 1, 2026, and June 23, 2026, at an average price of €48.94 per share. The total outlay in the first half of 2026 amounted to €1,145 million. This amount was taken from other retained earnings. As of June 30, 2026, BASF held a total of 31,600,261 treasury shares. 8 Financial indebtedness The following overview shows newly issued and redeemed instruments in the reporting period. In the case of commercial paper, the nominal value relates to June 30, 2026 (December 31, 2025: no commercial paper outstanding). The balance of liabilities to credit institutions increased from €6,975 million as of December 31, 2025, to €9,873 million as of June 30, 2026. Financial indebtedness Carrying amounts based on effective interest method Million € Currency Nominal value (million, currency of issue) Effective interest rate June 30, 2026 Dec. 31, 2025 BASF SE Commercial paper EUR 642 641 – Commercial paper USD 835 732 – 0.750 %Bond 2022/2026 EUR 1,000 – – 1,000 BASF Ireland DAC 1.880 % Panda Bond 2026/2029 CNY 2,500 1.88 % 323 – 2.200 % Panda Bond 2026/2031 CNY 1,500 2.20 % 193 – Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 53
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9 Financial instruments Carrying amounts and fair values of financial instruments as of June 30, 2026 Million € Carrying amounts Total carrying amounts within scope of applica- tion of IFRS 7 Valuation category in accor- dance with IFRS 9a Fair value Of which fair value level 1b Of which fair value level 2c Of which fair value level 3d Shareholdingse 446 446 FVTPL 0 – 0 – Receivables from finance leases 32 32 n. a. 32 – – – Accounts receivable, trade 11,434 11,434 AC 11,434 – – – Accounts receivable, trade 129 129 FVTOCI 129 – 129 – Accounts receivable, trade 185 185 FVTPL 185 – 185 – Derivatives – no hedge accounting 519 519 FVTPL 569 36 324 210g Derivatives – hedge accounting 198 198 n. a. 198 – 198 – Other receivables and miscellaneous assetsf 6,749 970 AC 970 – – – Other receivables and miscellaneous assetsf 90 90 FVTPL 90 – 90 – Securities 79 79 AC 79 – – – Securities 362 362 FVTOCI 362 290 72 – Securities 265 265 FVTPL 265 263 2 – Cash equivalents 28 28 FVTPL 28 28 – – Cash and cash equivalents 7,768 7,768 AC 7,768 – – – Total assets 28,284 22,505 22,109 617 1,000 210 Bonds 13,759 13,759 AC 13,491 11,077 2,415 – Commercial paper 1,373 1,373 AC 1,373 – – – Liabilities to credit institutions 9,873 9,873 AC 9,898 – 9,898 – Liabilities from leases 1,681 1,681 n. a. 1,681 – – – Accounts payable, trade 6,247 6,247 AC 6,247 – – – Derivatives – no hedge accounting 511 511 FVTPL 500 12 494 -6h Derivatives – hedge accounting 111 111 n. a. 111 – 111 – Financial guarantees 9 9 n. a. 9 – – – Other liabilitiesf 2,989 1,533 AC 1,533 – – – Total liabilities 36,551 35,095 34,843 11,089 12,918 -6 a AC: amortized cost; FVTOCI: fair value through other comprehensive income; FVTPL: fair value through profit or loss. b Fair value was determined based on quoted, unadjusted prices on active markets. c Fair value was determined based on parameters for which directly or indirectly quoted prices on active markets were available. d Fair value was determined based on parameters for which there was no observable market data. e In general, only significant shareholdings are measured at fair value, which is reported under “Fair value” in the table above. All insignificant shareholdings are measured at cost (carrying amount: €446 million). Fair value level 1 is applied to publicly listed shareholdings. Level 2 is applied to shareholdings for which valuation is based to the greatest extent possible on parameters observable in the market. These may be adjusted to reflect valuation-relevant characteristics of the respective shareholding in the fair value. f Does not include separately shown derivatives or receivables and liabilities from finance leases. Furthermore, other liabilities are presented without the separately disclosed financial guarantees. If miscellaneous receivables are valued at fair value through profit or loss, their valuation is generally based on parameters observable on the market. These are adjusted to reflect valuation-relevant characteristics of the respective assets in the fair value. g The carrying amount of the electricity forward agreements reported in the balance sheet under other receivables and miscellaneous assets is €1 million after subtracting the differences of €50 million described on page 57 of this half-year financial report. This item also includes options on electricity forward agreements with a fair value of €66 million and the climate protection agreement with a fair value of €93 million. h The carrying amount of the electricity forward agreements reported in the balance sheet under other liabilities is €5 million after subtracting the differences of €11 million described on page 57 of this half-year financial report. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 54
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Carrying amounts and fair values of financial instruments as of December 31, 2025 Million € Carrying amounts Total carrying amounts within scope of applica- tion of IFRS 7 Valuation category in accor- dance with IFRS 9a Fair value Of which fair value level 1b Of which fair value level 2c Of which fair value level 3d Shareholdingse 446 446 FVTPL 0 – 0 – Receivables from finance leases 29 29 n. a. 29 – – – Accounts receivable, trade 7,575 7,575 AC 7,575 – – – Accounts receivable, trade 477 477 FVTOCI 477 – 477 – Accounts receivable, trade 273 273 FVTPL 273 – 273 – Derivatives – no hedge accounting 404 404 FVTPL 426 7 203 215g Derivatives – hedge accounting 149 149 n. a. 149 – 149 – Other receivables and miscellaneous assetsf 5,793 998 AC 998 – – – Other receivables and miscellaneous assetsf 89 89 FVTPL 89 – 89 – Securities 71 71 AC 71 – – – Securities 367 367 FVTOCI 367 277 90 – Securities 261 261 FVTPL 261 258 2 – Cash equivalents 129 129 FVTPL 129 129 – – Cash and cash equivalents 2,541 2,541 AC 2,541 – – – Total assets 18,604 13,809 13,385 672 1,285 215 Bonds 14,114 14,114 AC 13,857 11,472 2,386 – Commercial paper – – AC – – – – Liabilities to credit institutions 6,975 6,975 AC 6,997 – 6,997 – Liabilities from leases 1,553 1,553 n. a. 1,553 – – – Accounts payable, trade 5,484 5,484 AC 5,484 – – – Derivatives – no hedge accounting 611 611 FVTPL 569 31 577 -39h Derivatives – hedge accounting 89 89 n. a. 89 – 89 – Financial guarantees 10 10 n. a. 10 – – – Other liabilitiesf 3,045 1,850 AC 1,850 – – – Total liabilities 31,881 30,686 30,409 11,503 10,048 -39 a AC: amortized cost; FVTOCI: fair value through other comprehensive income; FVTPL: fair value through profit or loss. b Fair value was determined based on quoted, unadjusted prices on active markets. c Fair value was determined based on parameters for which directly or indirectly quoted prices on active markets were available. d Fair value was determined based on parameters for which there was no observable market data. e In general, only significant shareholdings are measured at fair value, which is reported under “Fair value” in the table above. All insignificant shareholdings are measured at cost (carrying amount: €446 million). Fair value level 1 is applied to publicly listed shareholdings. Level 2 is applied to shareholdings for which valuation is based to the greatest extent possible on parameters observable in the market. These may be adjusted to reflect valuation-relevant characteristics of the respective shareholding in the fair value. f Does not include separately shown derivatives or receivables and liabilities from finance leases. Furthermore, other liabilities are presented without the separately disclosed financial guarantees. If miscellaneous receivables are valued at fair value through profit or loss, their valuation is generally based on parameters observable on the market. These are adjusted to reflect valuation-relevant characteristics of the respective assets in the fair value. g The carrying amount of the included electricity forward agreements reported in the balance sheet under other receivables and miscellaneous assets is €6 million after subtracting the differences of €22 million described on page 57 of this half-year financial report. This item also includes options on electricity forward agreements with a fair value of €94 million and the climate protection agreement with a fair value of €94 million. h The carrying amount of the electricity forward agreements reported in the balance sheet under other liabilities is €3 million after subtracting the differences of €42 million described on page 57 of this half-year financial report. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 55
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Financial instruments measured at fair value – valuation methods and input factors Million € Financial instrument Fair value level Description Valuation method Key input factors to determine fair value June 30, 2026 Dec. 31, 2025 Accounts receivable, trade Level 2 Receivables with embedded commodity derivatives Discounting of expected future cash flows Observable commodity price quotations, yield curves, credit default premiums 185 273 Level 2 Receivables available for sale under a factoring agreement Valuation using nominal values Nominal values 129 477 Derivatives with positive fair values Level 1 Exchange-traded commodity derivatives Price quotation on an active market for identical assets Market price on the balance sheet date 36 7 Level 2 OTC currency, interest rate and commodity derivatives Discounting of expected future cash flows, option pricing models Exchange rate quotations, observable yield curves, commodity price quotations, currency and commodity price volatility, credit default premiums 522 353 Level 3 Electricity forward agreements and options Discounting of expected future cash flows, Monte Carlo simulation Electricity price quotations, long-term electricity price forecasts,a expected electricity volumes,a estimated startup date,a yield curves, credit default premiums 117b 122c Level 3 Climate protection agreement Discounting of expected future cash flows Price quotations for emissions, natural gas and electricity, long-term price forecasts for emissions,a natural gasa and electricity,a estimated production volumesa and yield curves 93 94 Other receivables and miscellaneous assets Level 2 Performance-based interest-bearing loan to BASF Pensionskasse VVaG and others Discounting of expected future cash flows Expected cash flows from the investment portfolio, discount factors 82 82 Level 2 Surrender values for insurance policies Surrender values according to contractual agreement Surrender values on the balance sheet date 8 7 Securities Level 1 Publicly traded fund shares Price quotation on an active market for identical assets Market price on the balance sheet date 241 237 Level 1 Publicly traded bonds Price quotation on an active market for identical assets Market price on the balance sheet date 312 299 Level 2 Bonds not publicly traded Issuer pricing based on recognized valuation methods Yield curves, credit default premiums 72 89 Level 2 Fund shares not publicly traded Fair value of the equity and debt instruments in which funds are invested Market price on the balance sheet date, yield curves, credit default premiums, net asset value of fund investments 3 3 Cash and cash equivalents Level 1 Publicly traded money market funds Price quotation on an active market for identical assets Market price on the balance sheet date 28 129 Derivatives with negative fair values Level 1 Exchange-traded commodity derivatives Price quotation on an active market for identical liabilities Market price on the balance sheet date 12 31 Level 2 OTC currency, interest rate and commodity derivatives as well as derivatives on equity instruments Discounting of expected future cash flows, option pricing models Exchange rate quotations, observable yield curves, commodity and stock price quotations, currency and commodity as well as stock price volatilities, credit default premiums 605 665 Level 3 Electricity forward agreements Discounting of expected future cash flows Electricity price quotations, long-term electricity price forecasts,a expected electricity volumes,a estimated startup date,a yield curves, credit default premiums -6d -39e a Unobservable level 3 input factors b The carrying amount of the electricity forward agreements reported in the balance sheet under other receivables and miscellaneous assets is €1 million after subtracting the differences of €50 million described on page 57 of this half-year financial report. This item also includes the options on electricity forward agreements with a fair value of €66 million. c The carrying amount of the electricity forward agreements reported in the balance sheet under other receivables and miscellaneous assets is €6 million after subtracting the differences of €22 million described on page 57 of this half-year financial report. This item also includes the options on electricity forward agreements with a fair value of €94 million. d The carrying amount of the electricity forward agreements reported in the balance sheet under other liabilities is €5 million after subtracting the differences of €11 million described on page 57 of this half-year financial report. e The carrying amount of the electricity forward agreements reported in the balance sheet under other liabilities is €3 million after subtracting the differences of €42 million described on page 57 of this half-year financial report. For trade accounts receivable, other receivables and miscellaneous assets, securities, cash and cash equivalents as well as commercial paper, trade accounts payable and other liabilities carried at amortized cost, the carrying amount approximates the fair value. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 56
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The electricity forward agreements and options presented in the previous table consist of derivatives embedded in virtual power purchase agreements (PPAs) and an option on a PPA that are not eligible for the own use exemption. A change in the key valuation parameters would have affected the level 3 fair values of the fair value hierarchy as follows: Sensitivities of level 3 fair values as of June 30, 2026 Change in expected prices Change in expected production volumes Change in yield curves Million € +10% -10 % +10% -10 % Increase by 1 percentage point Decrease by 1 percentage point Electricity forward agreements and options 75 -58 12 -12 -43 73 Climate protection agreement -8 8 9 -9 -6 7 Sensitivities of level 3 fair values as of December 31, 2025 Change in expected prices Change in expected production volumes Change in yield curves Million € +10% -10 % +10% -10 % Increase by 1 percentage point Decrease by 1 percentage point Electricity forward agreements and options 88 -72 16 -16 -56 88 Climate protection agreement -7 7 9 -9 -7 7 At the time of initial recognition, the fair values of the electricity forward agreements, which were calculated using a valuation model, were higher than the respective transaction prices. Development of the differences is presented in the table below. Development of differences yet to be amortized of electricity forward agreements H1 Million € 2026 2025 Differences yet to be amortized through profit or loss as of January 1 64 153a Additions in the reporting period – – Amounts recognized in profit or loss in the current reporting period -3 -115 Currency translation – -5 Differences yet to be amortized through profit or loss as of June 30 61 34 a With the first-time application of the amendments to IFRS 9 and IFRS 7 relating to Contracts Referencing Nature-dependent Electricity, one PPA was derecognized. Since no adjustment was made to the prior-year figures, the opening balance as of January 1, 2025, differs from the closing balance as of December 31, 2024. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 57
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Development of assets and liabilities measured at level 3 fair value H1 Electricity forward agreementsa Options on electricity forward agreements Million € 2026 2025 2026 2025 Carrying amounts as of January 1 67 168b 94 – Purchases – – – 88 Settlements 1 2 – – Reclassification to or from level 3 – – – – Gains and losses recognized in income from operations -10 -132 -28 0 of which unrealized gains and losses attributable to assets and liabilities held at the end of the reporting period -10 -132 -28 0 Currency translation 0 -4 – – Other – – – – Carrying amounts as of June 30 58 33 66 88 a Carrying amounts before deducting the differences listed in the table “Development of differences yet to be amortized of electricity forward agreements” b With the first-time application of the amendments to IFRS 9 and IFRS 7 relating to Contracts Referencing Nature-dependent Electricity, one PPA was derecognized. Since no adjustment was made to the prior-year figures, the opening balance as of January 1, 2025, differs from the closing balance as of December 31, 2024. The changes in carrying amounts were recognized in the income statement as other operating income or other operating expenses. In the reporting period, no reclassifications arose between fair value levels 1, 2 and 3 for financial assets or liabilities recognized at fair value. 10 Related party transactions The following tables show the volume of business with related parties that are included in the Consolidated Financial Statements at amortized cost or accounted for using the equity method. Transactions with related parties are carried out under normal market conditions. The balance of valuation allowances on trade accounts receivable from nonconsolidated subsidiaries remained at €3 million as of June 30, 2026 (December 31, 2025: €3 million). As of June 30, 2026, and December 31, 2025, the balance of valuation allowances on trade accounts receivable from joint ventures was €0 million. The balance of valuation allowances on other receivables from nonconsolidated subsidiaries decreased from €117 million as of December 31, 2025, to €98 million as of June 30, 2026. Following the acquisition of a 40% equity stake in the company Surventis, which continues BASF's former Coatings business, the trade accounts receivable from and the trade accounts payable to Surventis as of June 30, 2026, are presented in the table below under associated companies. This accounts for the increase compared with the prior year. In both other receivables from and other liabilities to nonconsolidated subsidiaries, the decrease was primarily attributable to the discontinued operations included in the prior-year figures. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 58
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Trade accounts receivable from / trade accounts payable to related parties Accounts receivable, trade Accounts payable, trade Other receivables Other liabilities Million € June 30, 2026 Dec. 31, 2025 June 30, 2026 Dec. 31, 2025 June 30, 2026 Dec. 31, 2025 June 30, 2026 Dec. 31, 2025 Nonconsolidated subsidiaries 324 338 67 77 120 151 96 185 Joint ventures 65 71 122 103 38 29 15 15 Associated companies 142 32 46 15 29 30 33 4 Sales with related parties H1 Supplies and services rendered Supplies and services received Million € 2026 2025 2026 2025 Nonconsolidated subsidiaries 477 543 179 181 Joint ventures 188 379 797 675 Associated companies 39 72 57 65 The decline in supplies and services rendered to joint ventures is primarily due to lower volumes resulting from changed supply relationships. The increase in supplies and services received from joint ventures is primarily attributable to the adjustment of a distribution model. There were no reportable related-party transactions with members of the Board of Executive Directors or the Supervisory Board and their related parties during the reporting period. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 59
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11 Non-adjusting events after the balance sheet date On July 10, 2026, BASF announced that it would redeem the following bonds ahead of schedule in the second half of 2026: Carrying amounts based on effective interest method Million € Currency Nominal value (million, currency of issue) Effective interest rate June 30, 2026 Dec. 31, 2025 BASF SE 3.125 %Bond 2022/2028 EUR 750 3.27 % 748 747 4.000 %Bond 2023/2029 EUR 500 4.08 % 499 499 Dr. Markus Kamieth Dr. Dirk Elvermann Anup Kothari Dr. Stephan Kothrade Dr. Mary Kurian Dr. Katja Scharpwinkel Dr. Livio Tedeschi Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Notes to the Consolidated Half-Year Financial Statements 60
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Responsibility Statement To the best of our knowledge, and in accordance with the applicable reporting principles for half-year financial reporting, the Condensed Consolidated Half-Year Financial Statements give a true and fair view of the net assets, financial position and results of operations of the Group, and the Consolidated Interim Management’s Report includes a fair review of the development and performance of the business as well as the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group for the remaining fiscal year. Ludwigshafen, July 21, 2026 BASF SE The Board of Executive Directors Dr. Markus Kamieth Dr. Dirk Elvermann Anup Kothari Dr. Stephan Kothrade Dr. Mary Kurian Dr. Katja Scharpwinkel Dr. Livio Tedeschi Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Responsibility Statement 61
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Review Report To BASF SE, Ludwigshafen am Rhein We have reviewed the condensed consolidated half-year financial statements of BASF SE, Ludwigshafen am Rhein, which comprise the statement of income as well as the statement of income and expense recognized in equity, the balance sheet, the statement of cash flows and statement of changes in equity, the segment reporting as well as selected explanatory notes to the consolidated financial statements, and the interim group management report for the period from 1 January to 30 June 2026, that are part of the half-year financial information under Section 115 German Securities Trading Act (WpHG). The preparation of the condensed consolidated half-year financial statements in accordance with the IFRS® Accounting standards issued by the International Accounting standards Board (IASB) (hereafter "IFRS Accounting standards") applicable to interim financial reporting), as adopted by the EU and of the interim group management report in accordance with the requirements of the WpHG applicable to interim group management reports is the responsibility of the executive directors of the Company. Our responsibility is to issue a review report on the condensed consolidated half-year financial statements and on the interim group management report based on our review. We conducted our review of the condensed consolidated half-year financial statements and of the interim group management report in compliance with the German Generally Accepted Standards for Reviews of Financial Statements promulgated by the Institut der Wirtschaftsprüfer (IDW) and in supplementary compliance with the International Standard on Review Engagements 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. Those standards require that we plan and perform the review to obtain a certain level of assurance to preclude through critical evaluation that the condensed consolidated half-year financial statements have not been prepared, in material respects, in accordance with the IFRS Accounting standards applicable to interim financial reporting as adopted by the EU, or that the interim group management report has not been prepared, in material respects, in accordance with the requirements of the WpHG applicable to interim group management reports. A review is limited primarily to inquiries of company personnel and to analytical procedures applied to financial data and thus provides less assurance than an audit. Since, in accordance with our engagement, we have not performed an audit, we do not express an audit opinion. Based on our review, nothing has come to our attention that causes us to believe that the condensed consolidated half-year financial statements of BASF SE, Ludwigshafen am Rhein, have not been prepared, in material respects, in accordance with the IFRS Accounting standards applicable to interim financial reporting as adopted by the EU or that the interim group management report has not been prepared, in material respects, in accordance with the requirements of the WpHG applicable to interim group management reports. Frankfurt am Main, 21 July 2026 Deloitte GmbH Wirtschaftsprüfungsgesellschaft Kirsten Gräbner-Vogel Michael Mehren Wirtschaftsprüferin Wirtschaftsprüfer (German Public Auditor) (German Public Auditor) Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Review Report 62
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Selected Key Figures Excluding Precious and Base Metals The IFRS figures correspond to the amounts presented in the Consolidated Financial Statements. The adjusted figures exclude 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. BASF Group Q2 2026 2025 IFRS figure Adjusted figure IFRS figure Adjusted figure Sales million € 17,206 15,172 14,788 13,134 Factors influencing sales Volumes % 7.3 8.1 3.9 2.3 Prices % 11.5 9.8 -3.2 -4.2 Currencies % -1.2 -1.1 -3.6 -3.4 Portfolio % -1.2 -1.4 0.5 0.6 EBITDA before special items million € 2,449 2,449 1,595 1,595 EBITDA margin before special items % 14.2 16.1 10.8 12.1 H1 2026 2025 IFRS figure Adjusted figure IFRS figure Adjusted figure Sales million € 33,226 29,370 31,297 28,181 Factors influencing sales Volumes % 5.7 6.3 1.5 0.6 Prices % 4.8 2.0 -1.8 -2.2 Currencies % -3.6 -3.2 -1.5 -1.5 Portfolio % -0.8 -0.9 0.4 0.4 EBITDA before special items million € 4,805 4,805 4,090 4,090 EBITDA margin before special items % 14.5 16.4 13.1 14.5 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Selected Key Figures Excluding Precious and Base Metals 63
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Surface Technologies Q2 2026 2025 IFRS figure Adjusted figure IFRS figure Adjusted figure Sales million € 2,625 601 2,355 703 Factors influencing sales Volumes % -0.6 -2.3 15.7 6.2 Prices % 19.3 6.0 4.9 -0.6 Currencies % -2.2 -1.5 -5.5 -6.0 Portfolio % -5.0 -16.9 – – EBITDA before special items million € 115 115 172 172 EBITDA margin before special items % 4.4 19.2 7.3 24.5 H1 2026 2025 IFRS figure Adjusted figure IFRS figure Adjusted figure Sales million € 5,031 1,195 4,544 1,433 Factors influencing sales Volumes % -0.9 -2.8 8.3 3.7 Prices % 22.3 6.1 1.3 -0.1 Currencies % -5.7 -4.0 -2.2 -3.7 Portfolio % -5.0 -15.8 – – EBITDA before special items million € 391 391 342 342 EBITDA margin before special items % 7.8 32.7 7.5 23.9 Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Selected Key Figures Excluding Precious and Base Metals 64
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Quarterly Statement Q3 2026 Oct. 28, 2026 Reporting on 2026 Financial Year Feb. 26, 2027 Quarterly Statement Q1 2027 / Annual Shareholders’ Meeting 2027 Apr. 29, 2027 Half-Year Financial Report 2027 Jul. 30, 2027 Quarterly Statement Q3 2027 Nov. 3, 2027 BASF supports the chemical industry’s global Responsible Care initiative. Contact General inquiries Phone: +49 621 60-0 Email: global.info@basf.com Media Relations Jens Fey, phone: +49 621 60-99123 Investor Relations Dr. Stefanie Wettberg, phone: +49 621 60-48002 Internet basf.com Further Information Published on July 29, 2026 You can find this and other BASF publications online at basf.com/publications Forward-looking statements and forecasts This half-year financial report 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. We do not assume any obligation to update the forward- looking statements contained in this half-year financial report above and beyond the legal requirements. » Such risk factors include in particular those discussed in Opportunities and Risks on pages 90 to 105 of the BASF Report 2025. » The BASF Report is available online at basf.com/report. Key Figures at a Glance Consolidated Interim Management’s Report Condensed Consolidated Half-Year Financial Statements BASF Group – Half-Year Financial Report 2026 Further Information 65