BASF Report 2021 Consoli dated Financial Statements – Notes 258 Development of plan assets Employer contributions were €151 million in 2021. In 2020, Development of net defined benefit liability Million € BASF’s employer contributions totaled €615 million, including Million € 2021 2020 special contributions to BASF Pensionstreuhand e.V. in the amount 2021 2020 Plan assets as of January 1 21,400 20,863 of €401 million and €58 million to American plan assets. Net defined benefit liability as of January 1 –8,440 –7,560 Standardized return on plan assets 194 286 Current service cost –419 –419 Deviation between actual and standardized return on plan 1,935 765 BASF’s remaining obligations and the proportional plan assets of Past service cost –1 –6 assets benefit recipients in Switzerland relating to the divestiture of the Plan settlements 0 0 Employer contributions 151 615 pigments business are presented in effects from acquisitions and Interest cost –276 –395 Employee contributions 37 41 divestitures. This item also includes the amount of €43 million, which was deposited into Swiss plan assets in the same context. Standardized return on plan assets 194 286 Benefits paid –952 –769 Deviation between actual and standardized return on plan 1,935 765 Effects from acquisitions and divestitures 216 2 assets Through continuous monitoring of financing requirements of its Past service cost – – pension plans, BASF strives to achieve the necessary yields to fill Actuarial gains/losses of the defined benefit obligation 1,496 –2,131 Plan settlements –21 –60 financing gaps over the course of time. Company contributions for Benefits paid by unfunded plans 132 326 Other changes –264 –11 2022 are currently expected to be around €130 million. Employer contributions 151 615 Currency effects 434 –332 Effects from acquisitions and divestitures 45 –52 Plan assets as of December 31 23,130 21,400 Other changes –245 –7 Currency effects –71 138 The standardized return on plan assets is calculated by multiplying Net defined benefit liability as of December 31 –5,499 –8,440 plan assets at the beginning of the year with the discount rate used of which defined benefit assets 661 126 for existing defined benefit obligations at the beginning of the year, provisions for pensions and similar obligations 6,160 8,566 taking into account benefit and contribution payments to be made during the year. Regional allocation of defined benefit plans as of December 31 BASF SE made pension payments which are covered by the assets Million € of BASF Pensionstreuhand e.V. BASF Pensionstreuhand e.V. Pension Net defined benefit obligations Plan assets liability reimbursed BASF SE in 2021 with €250 million in pension payments 2021 2020 2021 2020 2021 2020 relating to 2020. This transaction is presented in other changes in plan assets. Germany 20,400 21,535 15,498 14,426 –4,902 –7,109 United States 3,563 3,596 2,610 2,404 –953 –1,192 Effects from plan settlements resulted in 2021 primarily from the Switzerland 1,812 1,816 2,212 1,851 400 35 transfer of benefit entitlements and the corresponding assets from United Kingdom 1,967 1,986 2,178 2,026 211 40 the pension plan in Canada to an external insurer. Other 887 907 632 693 –255 –214 Total 28,629 29,840 23,130 21,400 –5,499 –8,440