BASF Report 2021 Management’s Report – Outlook 2022 150 trading. Despite lower corporate research expenses, we anticipate Capex by segment 2022–2026 Dividend considerably lower EBIT before special items for 2022 compared with the previous year. 27% 9% We have an ambitious dividend policy and offer our shareholders an Nutrition & Care attractive dividend yield. We aim to increase our per-share dividend Chemicals 4% each year. Capital expenditures (capex) €25.6 billion Information on the proposed dividend can be found on page 13 Agricultural Solutions 11% We are planning capital expenditures (additions to property, plant Materials 28% and equipment excluding acquisitions, IT investments, restoration Other (infrastructure, R&D) Financing obligations and right-of-use assets arising from leases) of around 3% €4.6 billion for the BASF Group in 2022. For the period from 2022 to Industrial Solutions In 2022, we expect cash outflows in the equivalent amount of 2026, we have planned capital expenditures totaling €25.6 billion, around €2.0 billion from the scheduled repayment of bonds. To including €12.9 billion for our major growth projects. The investment 18% refinance maturing bonds and to optimize our maturity profile, we volume in the next five years will thus be above that of the planning Surface Technologies continue to have medium to long-term corporate bonds and our period 2021 to 2025 (€22.9 billion). Focus areas will be our invest- global commercial paper program at our disposal. ment project in Zhanjiang, China, to expand our businesses in Asia, Information on our financing policies can be found on page 64 as well as investments in battery materials. Capex by region 2022–2026 45% Projects currently being planned or underway include: Asia Pacific Events after the reporting period 15% Capex: selected projects North America On January 4, 2022, the Board of Executive Directors resolved on a €25.6 billion share buyback program with a volume of up to €3 billion, which shall 1% 1 Location Project South America, Africa, be concluded by December 31, 2023, at the latest. The share buy- 37% Middle East back program started on January 11, 2022. Antwerp, Belgium Capacity expansion: integrated ethylene oxide complex Europe 2% Gradual capacity expansion: alkoxylates Alternative sites currently being investigated Chalampé, France Construction: production plant for hexamethylenediamine Geismar, Louisiana Capacity expansion: MDI plant Harjavalta, Finland, and Investment: battery materials Schwarzheide, Germany Zhanjiang, China Planned construction: integrated Verbund site 1 Subject to a renewed authorization to purchase own shares by the Annual Shareholders’ Meeting on April 29, 2022.