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BASF Conference Call: Q3 2026 October 28, 2026
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2 October 28, 2026 | BASF Conference Call: Q3 2026 Cautionary note regarding forward-looking statements This presentation contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the future developments and results outlined therein. These are dependent on a number of factors; they involve various risks and uncertainties; and they are based on assumptions that may not prove to be accurate. BASF does not assume any obligation to update the forward-looking statements contained in this presentation above and beyond the legal requirements.
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3 October 28, 2026 | BASF Conference Call: Q3 2026 Q3 2026: BASF achieved strong price increases and solid volume growth in the core businesses Q3 2026 vs. Q3 2025: -7% 6% -5% 11% 10% -1% 13% 5% 2% Prices Volumes Currency Quarterly sales development of core businesses 2026 % vs. prior-year quarter ▪ Prices increased in all core segments, especially in Chemicals and Materials ▪ Volume growth was achieved in all core segments, led by Chemicals and Nutrition & Care ▪ Currency headwinds turned into slight tailwinds ▪ Portfolio effects slightly dampened sales growth (-1%) Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3
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4 October 28, 2026 | BASF Conference Call: Q3 2026 Q3 2026: BASF’s core businesses with sales growth across all regions . North America South America, Africa, Middle East Volumes Prices ▲ 5.9% ▲ 9.5% Asia Pacific (w/o Greater China) Greater China Volumes Prices ▲ 20.7% ▲ 10.3% Europe Volumes Prices ▼ -0.6% ▲ 17.7% Volumes Prices ▲ 7.9% ▲ 12.5% Volumes Prices ▼ -2.1% ▲ 6.5% Volume and price development in core businesses by region1 Q3 2026 vs. Q3 2025 1 By location of customer
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5 October 28, 2026 | BASF Conference Call: Q3 2026 Q3 2026: Strength across all core businesses drove BASF Group’s considerable EBITDA before special items growth BASF Group Chemicals Materials Industrial Solutions Nutrition & Care Surface Technologies Agricultural Solutions Other BASF Group 1,430 147 143 143 102 -128 -128 -67 1,643 409 551 434 237 201 -48 -140 EBITDA before special items by segment Q3 2026 (million €) EBITDA before special items Q3 2026 vs. Q3 2025 (million €)
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6 October 28, 2026 | BASF Conference Call: Q3 2026 Agricultural Solutions earnings in Q3 2026 mainly reflect lower volumes EBITDA before special items Million € Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▼-19.7% ▼ -17.3% ▼ -4.8% ▲ 2.1% ▲ 0.2% 6 October 28, 2026 ▪ Lower volumes in Q3 2026 mainly resulted from − Sales brought forward to Q2 2026 due to the now completed ERP migration in South America − Challenging market environment in South America ▪ Q3 2026 EBITDA before special items below Q3 2025 due to lower sales, partially offset by lower fixed costs | BASF Conference Call: Q3 2026 80 -48 Q3 2025 Q3 2026 Sales by indication % 33% 23% 19% 17% 8% Herbicides Seeds & Traits Seed Treatment Insecticides Fungicides €1.4 billion
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7 October 28, 2026 | BASF Conference Call: Q3 2026 BASF drives portfolio measures, leading to considerable cash inflows 1 BASF currently holds ~16% of outstanding Harbour Energy shares with voting rights. Harbour Energy Coatings Further portfolio management Agricultural Solutions ▪ Decorative paints business divested in 2025; transaction with Carlyle completed in 2026 at a combined multiple of 13x ▪ Net cash inflows of >€6 billion – with upside potential from the 40% equity stake in Surventis ▪ Sale of Harbour Energy shares led to cash inflows of ~€1.3 billion in 2026 so far ▪ Upside from remaining ~16%1 shareholding to be divested over time ▪ Sale of Stahl Group’s specialty coatings business to Henkel, completed in October, led to cash inflows of €257 million via BASF’s indirect participation in Stahl Group in Q4 2026 ▪ Further portfolio measures in progress ▪ On track to achieve IPO readiness by mid-2027 ▪ Transition of the business into separate legal entities with industry-specific ERP system largely completed
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8 October 28, 2026 | BASF Conference Call: Q3 2026 BASF Group: Key financial figures Q1-Q3 2026 vs. Q1-Q3 2025 Free cash flow -€1,040m -€173m EBITDA before special items €6,448m +€927m Cash fixed costs €11,786m -€297m Net income €5,227m +€4,168m
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9 October 28, 2026 | BASF Conference Call: Q3 2026 Strong momentum in streamlining our global organization ~1,000 ~5,200 ~2,400 2024 2025 Q1-Q3 2026 ~8,600 Since January 1, 2024, BASF Group has reduced the number of employees1 by BASF Group personnel reduction1 1 Reduction of number of employees excluding reduction due to divestitures and excluding build-up due to the Zhanjiang Verbund site 9 | BASF Conference Call: Q3 2026October 28, 2026
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10 October 28, 2026 | BASF Conference Call: Q3 2026 Average days of sales outstanding Cash flows from operating activities reflect €1.5 billion higher net working capital; free cash flow supported by lower capex Million € Q1-Q3 2026 Q1-Q3 2025 Change Cash flows from operating activities 823 1,974 -1,152 of which changes in net working capital -4,112 -2,603 -1,510 Capex1 -1,863 -2,842 -979 Free cash flow -1,040 -868 -173 Average days of inventories valued 1 Payments made for property, plant and equipment and intangible assets Working capital management: KPIs of the core businesses (Q1-Q3 2026 vs. Q1-Q3 2025) Cash flow development -6% -3%
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11 October 28, 2026 | BASF Conference Call: Q3 2026 ▪ We continue to strengthen our balance sheet by considerably reducing leverage and maintaining financial discipline ▪ Net debt expected at ~€15 billion by year-end 2026 ▪ We strive to maintain our single A credit ratings1 ▪ We are committed to attractive shareholder distributions via dividends and share buybacks 1 Fitch: A/F1/outlook stable, Moody’s: A3/P-2/outlook stable, S&P: A-/A-2/outlook stable Million € Sept. 30, 2026 Sept. 30, 2025 Change Total assets 79,944 76,441 +4.6% Equity ratio 47.2% 44.4% +2.8ppt Net debt 16,652 20,891 -20.3% Cash outflowCash inflow Continued deleveraging, committed to shareholder distributions 20.9 -1.2 1.8 2.0 -7.6 0.7 16.7 Net debt Sept. 30, 2025 Free cash flow Share buyback Dividends M&A proceeds Other Net debt Sept. 30, 2026 1.2 7.6 0.7 2 Other is mainly related to currency effects 2 Net debt development Sept. 30, 2026, vs. Sept. 30, 2025 Billion €
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12 October 28, 2026 | BASF Conference Call: Q3 2026 1 Scope 1 and Scope 2 Outlook 2026 for BASF Group as published in October 2026 Forecast 2026 Previous forecast EBITDA before special items (billion €) 7.4 – 7.8 6.9 – 7.7 Free cash flow (billion €) 1.5 – 2.3 (unchanged) 1.5 – 2.3 CO2 emissions1 (million metric tons) 17.2 – 18.2 (unchanged) 17.2 – 18.2 Growth in gross domestic product Growth in industrial production Growth in chemical production Average euro/dollar exchange rate Average annual oil price (Brent crude) +2.5% +2.0% +1.8% $1.17 per euro $80 per barrel Underlying assumptions as published in July 2026
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14 October 28, 2026 | BASF Conference Call: Q3 2026 BASF Group Q3 2026 vs. Q3 2025 and Q1-Q3 2026 vs. Q1-Q3 2025 Financial figures Q3 2026 Change Q1-Q3 2026 Change Million € % Million € % Sales 16,360 14.2 49,586 8.7 EBITDA before special items 1,643 14.9 6,448 16.8 EBITDA 1,206 -0.1 5,358 16.5 EBIT before special items 681 27.8 3,595 27.9 EBIT -98 . 2,100 17.6 Net income from shareholdings 113 112.9 89 . Net income 155 -9.8 5,227 393.4
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15 October 28, 2026 | BASF Conference Call: Q3 2026 Chemicals Segment cash flow (million €)EBITDA before special items (million €) -38 -577 -493 -356 318 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 262 46 233 377 409 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 34.4% ▲ 9.7% ▲ 22.1% ▲ 2.6% - Q1-Q3 2026 vs. Q1-Q3 2025 ▲ 23.7% ▲ 13.9% ▲ 9.8% ▼ -0.9% ▲ 0.9%
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16 October 28, 2026 | BASF Conference Call: Q3 2026 Materials EBITDA before special items (million €) Segment cash flow (million €) 408 289 511 792 551 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 338 417 4 26 365 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 18.5% ▲ 1.6% ▲ 15.1% ▲ 1.8% - Q1-Q3 2026 vs. Q1-Q3 2025 ▲ 9.4% ▲ 3.5% ▲ 7.4% ▼ -1.5% -
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17 October 28, 2026 | BASF Conference Call: Q3 2026 Industrial Solutions EBITDA before special items (million €) Segment cash flow (million €) 291 242 361 434 434 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 353 343 102 -56 276 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 11.8% ▲ 2.7% ▲ 7.9% ▲ 1.3% - Q1-Q3 2026 vs. Q1-Q3 2025 ▲ 3.7% ▲ 3.0% ▲ 2.6% ▼ -1.8% -
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18 October 28, 2026 | BASF Conference Call: Q3 2026 Nutrition & Care EBITDA before special items (million €) Segment cash flow (million €) 134 89 192 204 237 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 -34 97 -60 2 -21 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 7.2% ▲ 8.4% ▲ 2.7% ▲ 0.7% ▼ -4.7% Q1-Q3 2026 vs. Q1-Q3 2025 ▲ 3.2% ▲ 9.9% ▼ -1.4% ▼ -1.9% ▼ -3.4%
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19 October 28, 2026 | BASF Conference Call: Q3 2026 Surface Technologies EBITDA before special items1 (million €) Segment cash flow1 (million €) 328 130 275 115 201 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 1 Excluding Coatings business sold to Carlyle 274 292 148 -28 284 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 9.9% ▲ 1.0% ▲ 12.8% ▲ 1.3% ▼ -5.2% Q1-Q3 2026 vs. Q1-Q3 2025 ▲ 10.4% ▼ -0.3% ▲ 19.1% ▼ -3.3% ▼ -5.1%
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20 October 28, 2026 | BASF Conference Call: Q3 2026 Agricultural Solutions EBITDA before special items (million €) Segment cash flow (million €) 80 381 1,102 448 -48 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 465 1,206 -1,160 881 294 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▼-19.7% ▼-17.3% ▼ -4.8% ▲ 2.1% ▲ 0.2% Q1-Q3 2026 vs. Q1-Q3 2025 ▼ -6.0% ▼ -1.8% ▼ -2.2% ▼ -2.2% ▲ 0.1%
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21 October 28, 2026 | BASF Conference Call: Q3 2026 Review of “Other” Financial figures Q3 2026 Change Q1-Q3 2026 Change Million € % Million € % Sales 1,156 39.7 2,954 20.8 EBITDA before special items -140 -92.5 -379 17.7 of which Costs of corporate research -43 13.9 -132 9.6 Costs of corporate headquarters -54 5.3 -178 -0.5 Other businesses 107 8.9 221 17.4 Miscellaneous income and expenses -150 -135.6 -290 10.9 Special items in EBITDA -254 -39.9 -701 -6.2 EBITDA -395 -55.0 -1,080 3.6