1. Powerful start to 2011
BASF remains on growth track
First Quarter 2011
Financial highlights
May 6, 2011
BASF 1st Quarter 2011 Analyst Conference Call 1

2. Forward-looking statements
This presentation includes forward-looking statements that are subject to risks and
uncertainties, including those pertaining to the anticipated benefits to be realized from the
proposals described herein. This presentation contains a number of forward-looking
statements including, in particular, statements about future events, future financial
performance, plans, strategies, expectations, prospects, competitive environment,
regulation and supply and demand. BASF has based these forward-looking statements on
its views with respect to future events and financial performance. Actual financial
performance of the entities described herein could differ materially from that projected in the
forward-looking statements due to the inherent uncertainty of estimates, forecasts and
projections, and financial performance may be better or worse than anticipated. Given these
uncertainties, readers should not put undue reliance on any forward-looking statements.
Forward-looking statements represent estimates and assumptions only as of the date that
they were made. The information contained in this presentation is subject to change without
notice and BASF does not undertake any duty to update the forward-looking statements,
and the estimates and assumptions associated with them, except to the extent required by
applicable laws and regulations.
BASF 1st Quarter 2011 Analyst Conference Call 2

3. Powerful start to 2011
First quarter highlights
Business performance Q1’11 vs. Q1’10
Sales €19.4 billion +25%
EBITDA €3.4 billion +28%
EBITDA margin 17.4% 17.0%
EBIT before special items €2.7 billion +40%
EBIT €2.6 billion +39%
Net income €2.4 billion +134%
EPS €2.62 +134%
Adjusted EPS €1.94 +47%
Excellent sales and earnings growth in the chemical activities
Cognis contributed significantly to the good results in Performance Products
Agricultural Solutions started with strong sales and earnings
Higher sales and earnings in Oil & Gas despite lower volumes from Libya
BASF 1st Quarter 2011 Analyst Conference Call 3

4. Important milestones in Q1 2011
MDI project in Chongqing Gas for Europe Strategy Fertilizer activities
Project approved Two Memoranda of 10.3% stake in K+S sold
Construction already started Understanding signed – Capital gain before taxes
with Gazprom €887 million
Completion in 2014
– Development of two Plan to sell major part of the
World-scale capacity of additional sites of Achimov
400,000 metric tons fertilizer assets:
deposits in Russia
Total investment – Sales: Mid three-digit million
– Acquisition of 15% stake in
~€860 million South Stream – Capacity: 2.5 million tons
BASF 1st Quarter 2011 Analyst Conference Call 4

5. Chemicals
Record earnings
Q1’11 segment sales (million €) vs. Q1’10 EBIT before special items (million €)
Intermediates Inorganics 800 765
353 687
709 617
+22% +25% 537
600
461
€3,276 400
+27%
200
Petrochemicals
2,214 0
+28% Q1 Q2 Q3 Q4 Q1
2010 2011
Sales development
Period Volumes Prices Portfolio Currencies
Q1’11 vs. Q1’10 4% 21% 0% 2%
BASF 1st Quarter 2011 Analyst Conference Call 5

6. Plastics
Strong volumes and prices lifted sales and earnings
Q1’11 segment sales (million €) vs. Q1’10 EBIT before special items (million €)
Polyurethanes 400 371 393
349
1,479
+21% 279 285
€2,788 200
+27%
Performance
Polymers
0
1,309
+34% Q1 Q2 Q3 Q4 Q1
2010 2011
Sales development
Period Volumes Prices Portfolio Currencies
Q1’11 vs. Q1’10 14% 11% 0% 2%
BASF 1st Quarter 2011 Analyst Conference Call 6

7. Performance Products
Acquisitions are paying off
Q1’11 segment sales (million €) vs. Q1’10 EBIT before special items (million €)
Care Chemicals Performance 600 554
1,376 Chemicals 500 471
+117% 419
895 370
400
+23%
Nutrition €3,982 300
294
& Health
469 +39% 200
+27% 100
Dispersions
Paper Chemicals & Pigments 0
393 849 Q1 Q2 Q3 Q4 Q1
- 6% +17% 2010 2011
Sales development
Period Volumes Prices Portfolio Currencies
Q1’11 vs. Q1’10 3% 5% 29% 2%
BASF 1st Quarter 2011 Analyst Conference Call 7

8. Cognis – integration objectives
Targets
Achieve 20% EBITDA margin
in the Performance Products segment by 2012
Acquisition accretive as of 2012
Costs
One-time integration costs of €290 million
until end of 2013
Inventory step-up of €120 million
Costs already incurred:
− 2010: €80 million (thereof €60 million inventory step-up)
− Q1/2011: €158 million (thereof €60 million inventory step-up)
Synergies
Generate €275 million of additional EBIT
− €135 million growth synergies by the end of 2015
− €140 million cost synergies by the end of 2013
BASF 1st Quarter 2011 Analyst Conference Call 8

9. Functional Solutions
Strong automotive demand drove sales and earnings
Q1’11 segment sales (million €) vs. Q1’10 EBIT before special items (million €)
Catalysts Construction 165 158
1,677 Chemicals 150 142
+58% 469 111
+9%
€2,818 100
+35%
50 33
Coatings
672 0
+13% Q1 Q2 Q3 Q4 Q1
2010 2011
Sales development
Period Volumes Prices Portfolio Currencies
Q1’11 vs. Q1’10 18% 13% 1% 3%
BASF 1st Quarter 2011 Analyst Conference Call 9

10. Agricultural Solutions
Strong sales and earnings growth
Q1’11 segment sales (million €) vs. Q1’10 EBIT before special items (million €)
1,400 1,230 400
+7%
1,145 +7% 343
1,200 321
1,000 300
800
600 200
400
100
200
0 0
Q1 Q1 Q1 Q1
2010 2011 2010 2011
Sales development
Period Volumes Prices Portfolio Currencies
Q1’11 vs. Q1’10 8% (2)% 0% 1%
BASF 1st Quarter 2011 Analyst Conference Call 10

11. Oil & Gas
Higher oil and gas prices compensated for lower volumes
Q1’11 segment sales (million €) vs. Q1’10 EBIT before special items / Net income (million €)
Exploration & 800 744
Production 629 118
1,068 600
145
+4%
€3,455 400
+7% 626
Natural Gas 200 484
273 306
Trading
2,387 0
+9% Q1 Q1
2010 2011
EBIT bSI Natural Gas Trading Net income
EBIT bSI Exploration & Production
Sales development
Period Volumes Prices/Currencies Portfolio
Q1’11 vs. Q1’10 (13)% 20% 0%
BASF 1st Quarter 2011 Analyst Conference Call 11

12. Review of “Other”
Million € Q1 2011 Q1 2010
Sales 1,812 1,338
thereof Styrenics 843 666
EBIT before special items (209) (266)
thereof Corporate research (83) (82)
Group corporate costs (55) (51)
Currency results, hedges and other (78) (136)
valuation effects
Styrenics, fertilizers, other businesses 185 101
Special items (35) (34)
EBIT (244) (300)
BASF 1st Quarter 2011 Analyst Conference Call 12

13. Excellent operating cash flow in Q1 2011
Million € Q1 2011 Q1 2010
Cash provided by operating activities 2,255 1,368
thereof Changes in net working capital 260 (680)
Cash provided by investing activities 257 (454)
thereof Payments related to tangible / intangible assets (547) (392)
Cash used in financing activities (1,200) (757)
thereof Changes in financial liabilities (1,073) (679)
Dividends (127) (78)
First quarter 2011
Despite improved business activities net working capital decreased slightly
Free cash flow at €1.7 billion
Net debt reduced by €2.4 billion to €11.1 billion since December 31, 2010
€972 million proceeds from the sale of K+S stake
BASF 1st Quarter 2011 Analyst Conference Call 13

14. Outlook 2011
Assumptions
We are increasing our Brent oil price forecast from $90/bbl to $100/bbl
We are assuming that oil production in Libya will not restart during 2011
→ EBIT before special items from our Libyan oil production for the full year 2011
will be about €1 billion lower compared with 2010
(thereof about €700 million of non-compensable oil taxes)
Targets 2011
We expect to generate significantly higher sales
We aim to significantly exceed the 2010 EBIT before special items
adjusted for non-compensable oil taxes (2010: €7.2 billion)
We expect to achieve a high premium on our cost of capital
Medium-term targets
We aim to grow sales on average by two percentage points per year
faster than chemical production growth
We strive to grow our earnings further year by year,
and to achieve an EBITDA margin of 18% by 2012
BASF 1st Quarter 2011 Analyst Conference Call 14

15. BASF 1st Quarter 2011 Analyst Conference Call 15

16. Back-Up
BASF 1st Quarter 2011 Analyst Conference Call 16

17. BASF Group Q1 2011
Sales (billion €) EBIT before special items (billion €)
20 19.4
3.0 2.7
16.2 15.8 16.4
15.5 2.5 2.2 2.2
16
2.0
2.0 1.8
12
1.5
8
1.0
4 0.5
0 0.0
Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1
2010 2011 2010 2011
Sales development
Period Volumes Prices Portfolio Currencies
Q1’11 vs. Q1’10 5%* 13% 6% 1%
* Volumes +9% (without Oil & Gas)
BASF 1 st Quarter 2011 Analyst Conference Call 17

18. Financial highlights
Strong earnings improvement in Q1
Million € Q1 2011 Q1 2010 Δ% Q4 2010 Δ%
Sales 19,361 15,454 +25% 16,424 +18%
changes due to
- volumes +5%
- prices +13%
- portfolio 6%
- currencies +1%
EBITDA 3,365 2,627 +28% 2,703 +25%
EBIT before special items 2,732 1,954 +40% 1,765 +55%
Special items (182) (114) . (78) .
EBIT 2,550 1,840 +39% 1,687 +51%
Net income 2,411 1,029 +134% 1,100 +119%
EPS (€) 2,62 1,12 +134% 1,20 +118%
Adjusted EPS (€) 1,94 1,32 +47% 1,39 +40%
BASF 1st Quarter 2011 Analyst Conference Call 18

19. Balance sheet further strengthened
Balance sheet March 31, 2011 vs. end of 2010 (billion €)
Proceeds from the sale of
60.2 60.2
BASF’s stake in K+S were
59.4 59.4
used to reduce debt
Stock- Net debt decreased by €2.4
23.5 22.7 holders’
Long-term billion to €11.1 billion.
Equity
assets 32.7
Accounts receivable increased
34.5 by €0.9 billion due to the
Financial
13.9 15.0 debt expansion of our business
Inventories 8.7 8.7 Equity ratio at 39% (up 1
Accounts 22.8 percentage point)
receivable 11.1 10.2 21.7 Other
liabilities
Other assets 4.9 4.5
Liquid funds 2.8 1.5
Mar 31 Dec 31 Mar 31 Dec 31
2011 2010 2011 2010
BASF 1st Quarter 2011 Analyst Conference Call 19

20. Cognis integration
Generating €275 million of growth and cost synergies
Synergies (million €) Growth synergies
Providing joint customer base
with access to broader portfolio
300
Increasing solution capabilities
250 Extending innovation capabilities
Leveraging regional set-up
200 135
150 Cost synergies
Realizing procurement cost
100 savings
140 Consolidating of administrative
50
structures
0 Improving production efficiency
Consolidating IT landscape
Growth synergies (by the end 2015)
Cost synergies (by the end of 2013)
BASF 1st Quarter 2011 Analyst Conference Call 20