BASF Report 2021 4 Contents Contents To Our Shareholders Management’s Report Corporate Governance Consolidated Financial Statements Overviews About This Report 5 1 | To Our Shareholders 7 3 | Corporate Governance 161 5 | Overviews 286 Letter from the Chairman of the Board of Executive Directors 8 Corporate Governance Report 162 Ten-Year Summary 287 The Board of Executive Directors of BASF SE Glossary and Trademarks 289 11 Compliance 171 BASF on the Capital Market 12 Management and Supervisory Boards 174 Report of the Supervisory Board 177 Declaration of Conformity Pursuant to Section 161 AktG 184 2 | Management’s Report 16 Declaration of Corporate Governance 185 Overview 17 20 The BASF Group 4 | Consolidated Financial Statements 186 Our Strategy 26 Statement by the Board of Executive Directors 187 The BASF Group’s Business Year 52 Independent Auditor’s Report 188 Sustainability Along the Value Chain 96 Statement of Income 194 Forecast 145 195 Statement of Income and Expense Recognized in Equity Balance Sheet 196 Statement of Cash Flows 198 199 Statement of Changes in Equity Notes 200