BASF Report 2021 Consoli dated Financial Statements – Notes 272 Offsetting of derivative assets and liabilities as of December 31, 2021 Million € Offset amounts Potential netting volume Due to global netting Gross amount Amount offset Net amount agreements Relating to financial collateral Potential net amount Derivatives with positive fair values 459 –12 447 –209 –125 112 Derivatives with negative fair values 459 –12 447 –209 –116 121 Offsetting of derivative assets and liabilities as of December 31, 2020 Million € Offset amounts Potential netting volume Due to global netting Gross amount Amount offset Net amount agreements Relating to financial collateral Potential net amount Derivatives with positive fair values 415 –18 397 –134 –61 202 Derivatives with negative fair values 563 –18 545 –134 –233 178 The table “Offsetting of derivative assets and liabilities” shows the receivable were reduced by €805 million. The reduction in trade extent to which assets and liabilities were offset in the balance sheet, accounts payable was €36 million and the reduction in advance as well as potential effects from the offsetting of derivatives subject payments received on orders was €769 million. Accordingly, the net to a legally enforceable global netting agreement (primarily in the amount for trade accounts receivable was €11,942 million (gross form of an ISDA agreement) or similar agreement. For positive fair amount before offsetting: €12,747 million). The resulting net amount values of combined interest rate and currency swaps, the respective for trade accounts payable was €7,826 million (gross amount before counterparties provided cash collaterals in an amount comparable offsetting: €7,862 million). The net amount for advance payments to the outstanding fair values. received on orders was €949 million (gross amount before offsetting: €1,718 million). In 2020, trade accounts receivable were also offset Deviations from the derivatives with positive fair values and against trade accounts payable and the advance payments received derivatives with negative fair values reported in other receivables on orders included in current other liabilities. This reduced trade and other liabilities at the end of 2021 and 2020 arose from accounts receivable by €616 million. The reduction in trade accounts derivatives not subject to any netting agreements as well as from payable was €45 million and the reduction in advance payments embedded derivatives. These are not included in the table above. received on orders was €571 million. Accordingly, the net amount for trade accounts receivable was €9,466 million (gross amount In addition to the offsetting of derivatives presented in the table before offsetting: €10,082 million). The resulting net amount for above, trade accounts receivable in 2021 were offset against trade trade accounts payable was €5,291 million (gross amount before accounts payable and advance payments received on orders, which offsetting: €5,336 million). The net amount for advance payments were included in current other liabilities, provided specific netting received on orders was €679 million (gross amount before offsetting: agreements with customers existed. As a result, trade accounts €1,250 million).