Independent Auditor’s Report BASF Report 2021 Consoli dated Financial Statements – Independent Auditor’s Report 188 Independent Auditor’s In our opinion, on the basis of the knowledge obtained in the audit, Basis for the Opinions 1 – the accompanying Consolidated Financial Statements comply, in We conducted our audit of the Consolidated Financial Statements Report all material respects, with the IFRSs as adopted by the EU, and and of the Group Management Report in accordance with Section the additional requirements of German commercial law pursuant 317 HGB and the EU Audit Regulation No. 537/2014 (referred to to Section 315e (1) of the German Commercial Code (HGB) and subsequently as “EU Audit Regulation”) and in compliance with To BASF SE, Ludwigshafen am Rhein full IFRS and, in compliance with these requirements, give a true German Generally Accepted Standards for Financial Statement and fair view of the assets, liabilities, and financial position of the Audits promulgated by the Institute of Public Auditors in Germany Report on the Audit of the Consolidated Financial Group as at December 31, 2021, and of its financial performance (Institut der Wirtschaftsprüfer, IDW). Our responsibilities under those Statements and of the Group Management Report for the financial year from January 1, 2021 to December 31, 2021, requirements and principles are further described in the “Auditor’s and Responsibilities for the Audit of the Consolidated Financial State- Opinions – the accompanying Group Management Report as a whole pro- ments and of the Group Management Report” section of our audi- We have audited the Consolidated Financial Statements of BASF SE vides an appropriate view of the Group’s position. In all material tor’s report. We are independent of the group entities in accordance and its subsidiaries (the Group), which comprise the balance sheet respects, this Group Management Report is consistent with the with the requirements of European law and German commercial and as at December 31, 2021, statement of income, statement of Consolidated Financial Statements, complies with German legal professional law, and we have fulfilled our other German pr ofessional income and expense recognized in equity, statement of cash flows, requirements and appropriately presents the opportunities and responsibilities in accordance with these requirements. In addition, statement of equity for the financial year from January 1, 2021 to risks of future development. Our opinion on the Group Manage- in accordance with Article 10 (2) point (f) of the EU Audit Regulation, December 31, 2021 and Notes to the Consolidated Financial ment Report does not cover the content of those parts of the we declare that we have not provided non-audit services prohibited Statements, including a summary of significant accounting policies. Group Management Report specified in the “Other Information” under Article 5 (1) of the EU Audit Regulation. We believe that the In addition, we have audited the Group Management Report of section of our auditor´s report. The Group Management Report evidence we have obtained is sufficient and appropriate to provide a BASF SE for the financial year from January 1, 2021 to Decem- contains cross-references which are not legally required and are basis for our opinions on the Consolidated Financial Statements and ber 31, 2021. identified as unaudited. Our opinion does not cover those on the Group Management Report. cross-references and the referenced information. In accordance with German legal requirements we have not audited Key Audit Matters in the Audit of the Consolidated Financial the content of those components of the Group Management Pursuant to Section 322 (3) sentence 1 HGB, we declare that our Statements Report specified in the “Other Information” section of our auditor’s audit has not led to any reservations relating to the legal compliance Key audit matters are those matters that, in our professional judg- report. of the Consolidated Financial Statements and of the Group Manage- ment, were of most significance in our audit of the Consolidated ment Report. Financial Statements for the financial year from January 1, 2021 to The Group Management Report contains cross-references which December 31, 2021. These matters were addressed in the context are not intended to use by law and are identified as unaudited. In of our audit of the Consolidated Financial Statements as a whole, accordance with the German legal requirements we have not and in forming our opinion thereon, we do not provide a separate audited the content of those cross-references and the related refer- opinion on these matters. enced information. 1 This is a translation of the German original. Solely the original text in German language is authoritative.