BASF Report 2021 Management’s Report – Results of Operations 60 Sales and earnings Sales and earnings by quarter in 2021a Million € Million € 2021 2020 +/– Q1 Q2 Q3 Q4 Full year Sales 78,598 59,149 32.9% Sales 19,400 19,753 19,669 19,776 78,598 Income from operations before depreciation, 11,348 7,435 52.6% Income from operations before depreciation, amortization and special items 3,181 3,217 2,771 2,179 11,348 amortization and special items Income from operations before depreciation and amortization (EBITDA) 3,176 3,199 2,729 2,250 11,355 Income from operations before depreciation 11,355 6,494 74.9% and amortization (EBITDA) Depreciation and amortizationb 865 883 907 1,023 3,678 EBITDA margin % 14.4 11.0 − Income from operations (EBIT) 2,311 2,316 1,822 1,227 7,677 Depreciation and amortizationa 3,678 6,685 –45.0% Special items −10 −39 −43 1 −91 Income from operations (EBIT) 7,677 –191 . EBIT before special items 2,321 2,355 1,865 1,227 7,768 Special items –91 –3,751 97.6% Income before income taxes 2,247 2,189 1,777 1,235 7,448 EBIT before special items 7,768 3,560 118.2% Income after taxes from continuing operations 1,810 1,794 1,424 990 6,018 Income before income taxes 7,448 –1,562 . Income after taxes from discontinued operations − − −43 7 −36 Income after taxes from continuing operations 6,018 –1,471 . Net income 1,718 1,654 1,253 898 5,523 Income after taxes from discontinued –36 396 . Earnings per share € 1.87 1.80 1.36 0.98 6.01 operations Adjusted earnings per share € 2.00 2.03 1.56 1.17 6.76 Net income 5,523 –1,060 . Earnings per share € 6.01 −1.15 . Sales and earnings by quarter in 2020a Adjusted earnings per share € 6.76 3.21 110.6% Million € Q1 Q2 Q3 Q4 Full year a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments Sales 16,753 12,680 13,811 15,905 59,149 and reversals of impairments) Income from operations before depreciation, amortization and special items 2,579 1,229 1,542 2,085 7,435 Income from operations before depreciation and amortization (EBITDA) 2,428 1,070 1,044 1,952 6,494 Depreciation and amortizationb 972 1,011 3,682 1,020 6,685 Income from operations (EBIT) 1,456 59 −2,638 932 −191 Special items −184 −167 −3,219 −181 −3,751 EBIT before special items 1,640 226 581 1,113 3,560 Income before income taxes 1,200 −923 −2,786 947 −1,562 Income after taxes from continuing operations 881 −888 −2,177 713 −1,471 Income after taxes from discontinued operations 22 14 13 347 396 Net income 885 −878 −2,122 1,055 −1,060 Earnings per share € 0.97 −0.96 −2.31 1.15 −1.15 Adjusted earnings per share € 1.26 0.25 0.60 1.10 3.21 a Quarterly results not audited b Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)