BASF Roundtable Oil and Gas September 2013

Investor Roundtable Oil & Gas

Dr. Rainer Seele CEO Wintershall and President BASF Oil & Gas Division September 13, 2013

BASF Oil & Gas, September 2013 2

This presentation may contain 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. Forward-looking statements may include, 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 and assumptions with respect to future events and financial performance. Actual financial performance 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. 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.

Cautionary note regarding forward-looking statements

BASF Oil & Gas, September 2013 3 3

1 | Overview & Strategy

2 | Exploration & Production

3 | Gas Transport

4 | Summary & Outlook

BASF Oil & Gas, September 2013

* Restated, figures for 2012 adjusted to changes in IFRS and new segment structure effective Jan. 1, 2013 Not depicted here: ~5% of BASFGroup sales reported under ‘Other‘ 4

Overview & Strategy

BASF today – A well balanced portfolio

Sales by segment 2012* (percent)


Overview & Strategy

Oil & Gas – Significant advantages for BASF Group

5

Technological synergies through

BASF Research Verbund

Significant cash flow and stable earnings

Strong contributor to BASF’s profitable growth

Hydrocarbon hedge


Overview & Strategy

Oil & Gas – Continuous production growth

6

104 109 112 111 112 130 136 133

113 144

126

66

0255075

100125150175200

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2012 20131HY

Production* (million boe)

restated***

* Since November 2011 including Achimgaz ** Oil production in Libya suspended from February to October 2011 *** Restated, figures for 2012 adjusted to changes in IFRS

**


Overview & Strategy

Strong earnings contribution from Oil & Gas

7

433 480 601

857 789 951

712

923 1.064

1.201

677

0

300

600

900

1.200

1.500

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20131HY

Net income Oil & Gas (million €)


Overview & Strategy

Oil & Gas – Strong free cash flow contribution to BASF Group

8

0

500

1.000

1.500

2.000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20131HY

Cash flow Oil & Gas* (million €)

Operating cash flow Oil & Gas

* Wintershall cash flow, not BASF Group consolidated view ** Free cash flow: Operating cash flow less payments related to property, plant and equipment and intangible assets

Free cash flow** Oil & Gas

∼45% of operating cash flow delivered to BASF Group (Avg. 2003-2012)


2008

2012

2008-2012: – Oil & Gas: Solid profit

contributor to BASF Group

– Oil & Gas accounted for 30% of BASF Group capex

EBITDA share of Oil & Gas in BASF‘s portfolio expected to remain in the same order of magnitude in the upcoming years

Capex share of Oil & Gas business in BASF portfolio will slightly decline

Key facts

* Excluding non-deductible oil taxes **Fixed assets, tangible assets from acquisitions, activated exploration expenditures

Average EBITDA* 2008-2012 (€ billion)

Cumulative capex (plant, property, equipment) (€ billion)

BASF Group w/o Oil & Gas

7.0 (76%)

BASF Group w/o Oil & Gas

12.3 (70%)

Oil & Gas 2.2 (24%)

Oil & Gas 5.2** (30%)

2008

2012 -

-

9

Overview & Strategy

Share of Oil & Gas in BASF portfolio


Overview & Strategy

Oil & Gas provides earnings stability

10

01.0002.0003.0004.0005.0006.0007.0008.000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

EBIT before special items BASF Group* (million €) Excluding non-compensable taxes on oil production

* Excluding non-compensable taxes on oil production

EBIT bSI* Oil & Gas EBIT bSI BASF Group w/o Oil & Gas

2012(restated)


BASF R&D

Verbund

Overview & Strategy

Adding value as One Company – Leveraging BASF’s Research Verbund

* EOR: Enhanced Oil Recovery BASF Oil & Gas, September 2013


Polymer injector

Production well

Overview & Strategy

Enhanced oil recovery – Schizophyllan BASF’s proprietary technology

12

Schizophyllan – proprietary biopolymer

Produced by a fungus in pilot scale plant at BASF

General principle: – Polymer added to injection

water, which then becomes more viscous

– Remaining oil is then more effectively pushed towards production well

– Increased incremental oil recovery of up to 10% on waterflooding

Key facts



Overview & Strategy

Oil & Gas – Focus on upstream activities

13

Oil & Gas Value Chain

Upstream Downstream

Exploration / Development / Production Transport Storage / Trading

Upstream


Natural Gas

Focus Oil & Gas business on attractive E&P activities 1 Exit natural gas

storage and trading business

3

Overview & Strategy

Active portfolio management – Focus on profitable upstream activities

2 Harvest gas transport business

Exploration / Development / Production Upstream Natural Gas

Storage / Trading Transport




3 | Gas Transport



Exploration & Production

BASF Oil & Gas – Key facts

>80 years of experience in E&P

16

partnerships

(e.g. Gazprom, Statoil)

Strong

expertise Technological

focus Clear

(e.g. core regions)




BASF Oil & Gas – Key facts 2012

Production

million boe (2012 restated) 126

Reserves and resources

1.2 billion boe proved (1P) reserves

1.7 billion boe discovered resources

9 years reserves/ production ratio

17 BASF Oil & Gas, September 2013



Oil & Gas – Clear strategy for further profitable growth

18

”Growing at the source”

E&P Core regions Low risk exploration

Focus Technology Partnerships BASF Research

Verbund EOR

Strategic partnerships with regional resource holders

Long-term profitable growth


Core region Development region

Operating company / production

Representative office

Current activities

Current activities in development region

South America

North Africa

Europe Russia

Caspian Sea Region

Middle East

.


Clear regional focus: Four core regions and two development regions



Exploration & Production – Regional footprint 2012 (1)

20

Russia stands for roughly 50% of total production

In 2012, natural gas accounted for approx. 75% of total production

Production

Russia provides strong reserve base

Gas accounts for roughly 75% of total reserves

Reserves

Russia/ Caspian Sea

47% North Africa/ Middle East 16%

Europe 16%

South America 21%

126 million

boe

North Africa/ Middle East 12%

Europe 11%

South America 18%

Proved 1P reserves by region 2012 (million boe)

1.2 billion

boe

* Restated, figures for 2012 adjusted to changes in IFRS; Libya onshore 51%

Russia/ Caspian Sea

59%

Production by region 2012 (million boe)*


Europe account for more than 50% of sales

Sales

Russia is strongest earnings contributor, including at-equity income of €109 million, mainly from Yuzhno Russkoye

Net income


Exploration & Production – Regional footprint 2012 (2)

21

Europe 22%

Net income E&P by region 2012 (million €)

South America 8%


Sales E&P by region* 2012 (million €)


Europe 55%

South America 15%

€2.6 billion

€983 million

Russia/ Caspian Sea

60%

Russia/ Caspian Sea

25%

* Restated, figures for 2012 adjusted to changes in IFRS; Libya onshore accounted for at-equity


2015 target maintained despite restatement (Effect: -18 million boe in 2012)

Continue to significantly invest in core and development regions

E&P Capex 2013-2015 ~€2.0 billion**

– Russia/Caspian Sea ~€0.5 billion

– Europe ~€1.2 billion

– South America and Middle East ~€0.3 billion


Oil & Gas – Excellent further growth opportunities

22

Production volumes (million boe)*

0

50

100

150

200

2012* 2015 target

>160

126

Russia

South America

North Africa/Middle East Europe

* Restated, figures for 2012 adjusted to changes in IFRS; 2012 reported: 144 million boe ** Without capex in financial participations

Key Facts


1.

2.

3.

4.

Russia Further expand gas and condensate production in Western Siberia


Key initiatives for further profitable growth

Europe Develop discoveries to production, with particular focus on Norway

South America Realize resource potential in Argentina

Middle East Apply technology and develop to core region

23


Global natural gas reserves (trillion m³)*

0

5

10

15

Average acquisition cost per 2P reserves ($/boe)**

Russia has largest natural gas reserves and resources worldwide Proximity to European market Comparably low development cost for 2P reserves

Russia 24%

195 trillion

m³

* Source: BGR 2012 ** Source: Herold Global Upstream M+A Review 2013

Russia/ CIS

Africa/ Middle East

Asia Pacific

Latin America

United States

Europe Canada


Russia – ¼ of global natural gas resources, attractive reserve cost



BASF Oil & Gas – Unique partnership with Gazprom for more than 20 years

25

Balance of interests

trust & respect – complementary interests – promise & deliver



Russia – Building on the unique partnership with Gazprom

26

25 billion m3 p.a.* plateau production

8 billion m3 p.a.* by 2018 plateau production

up to

>8 billion m3 p.a.* plateau production

Yuzhno Russkoye Maintain level for 10 years

Achimgaz Further development Block IA

Achimov Blocks IV & V Start joint development

* Russian Standard Conditions (RSC) ** Equals ~300,000 boe/d

million boe p.a. by 2018** ~110

Production growth in Russia



Russia – Asset swap with Gazprom (Achimov Blocks IV and V)

27

Expansion of successful partnership with Gazprom

Strengthening of E&P activities by acquiring shares in Blocks IV and V in the huge Achimov formation

Exit of natural gas trading and storage business by transferring Wintershall shares to Gazprom

Transaction financially retroactive to April 1, 2013. Closing is subject to approval by the relevant authorities.

Key field data: – Total resources: 2.4 billion boe – Plateau production: >8 billion cubic meters natural gas* – Production start: 2016 planned – Wintershall share: 25% plus one share

* Russian Standard Conditions (RSC)


Natural gas pricing related to European gas prices and Russian domestic gas prices – Limited oil price exposure

Gas production sold according to long-term contracts – Low physical sales risks

Long-term production upsides due to huge proven undeveloped reserves in Russia


Oil & Gas – Strong returns from Russia

28

Net income (€/boe)*

0

25

50

75

100

0

5

10

15

2008 2009 2010 2011 2012

* Source: BASF Report

Key Facts Oil price (€/barrel)

Net income per boe from activities in Russia

Oil price



Europe – Building on significant growth opportunities in the North Sea

40,000 boepd in 2013

Norway Increase production from 3,000 to

profits Germany Strong

∼240 licenses Strong project pipeline

expertise The Netherlands Center of excellence for offshore

29 BASF Oil & Gas, September 2013


Revus acquisition provided the basis for our growth in the northern North Sea – Successful build-up of a new operating company

Participation in various promising oil discoveries, e.g. – Maria ∼60-120 million boe – Skarfjell ∼60-160 million boe – Knarr ∼85 million boe – Edvard Grieg ∼185 million boe

65% of Revus exploration resources (2008: ∼400 million

boe) already discovered

Balanced exploration portfolio – Exploration licenses: >50

(more than half with operatorship)


Revus acquisition pays off



Excellent growth opportunities in the northern North Sea

31

Edvard Grieg 15% share (-15% out) Lundin*

Brage 32.7% share Wintershall to be

operator as of Oct. 1, 2013

Gjøa 15% share GDF Suez*

Bergen

Assets In

Asset Out

Existing Assets

Astero 25% share Statoil*

Vega 30% share Statoil*

* Operator

Broom 29% share EnQuest*

Knarr 20% share BG*

Grosbeak 45% share Wintershall*

Skarfjell 35% share Wintershall*

Maria 50% share Wintershall*

Crathes/ Scolty 50% share EnQuest*

Catcher 20% share Premier*

Cladhan 33.5% share Sterling*


Supply Optimize transport

logistics via location swap

Norwegian production to secure European supply

Technology Combine knowledge

on EOR and unconventional hydrocarbons


Norway – Strengthening our position through strategic partnership with Statoil

Production Equity in three producing

fields Vega, Gjøa and Brage Increase in production by

~37,000 boepd Brage: 1st own operated

producing field in Norway

BASF Oil & Gas, September 2013 © Øyvind Hagen


Transaction with Statoil closed* – Significant increase in cash flow and EBIT

33

37,000 boepd Production increase by

∼$800 Compensation payment

million** Brage Operatorship of

platform

* Closed on July 31, 2013 ** Agreed upon compensation payment of $1.35 billion reduced to around $800 million by earnings of the three fields (Vega, Gjøa and Brage)

generated in the first seven months of 2013. In addition, Wintershall assumes a tax liability in 2014 of around $300 million related to these profits.



South America – Realize resource potential in Argentina

34

potential Huge shale gas/oil

in Argentina

Attractive returns New gas price scheme in Argentina

15 oil & gas fields

Wintershall has stakes in




Middle East – Leverage technological expertise to gain access to attractive fields

35

Abu Dhabi Develop Shuwaihat gas/condensate field in the western

region of Abu Dhabi

Wintershall: Operator in appraisal phase

Resources: 50-500 million boe

Production start: ~2020

Qatar Gas discovery Block 4 North (Khuff formation) offshore

Qatar

Wintershall: Operator

Resources: ~400 million boe

Production start: 2017



Production growth from solid project pipeline (major projects)

36

2011 2013 2015 2017 2019 2021

Norway

Development phase

Wingate Cladhan / Catcher

Knarr / Edvard Grieg / Maria Skarfjell

Achimgaz (FFD) Achimov Blocks IV / V*

Qatar: Block 4N

Vega Pleyade Shale Neuquen / Mendoza Fenix

Abu Dhabi: Shuwaihat

Hibonite

F 17a

* Closing is subject to approval by the relevant authorities




3 | Gas Transport



Ludwigshafen

Düsseldorf

Krefeld

Aachen

Köln

Kassel

Hameln

Emden

Greifswald

Hamburg Schwerin

Berlin

OPA

L

Brandov

Frankfurt/O.

Erfurt

NEL

STEGAL

Kiel

Key facts Germany as distribution hub

for Europe GASCADE with a pipeline

system of ~2,300 km OPAL: in operation since 2011 Nord Stream: in operation

since 2012 NEL: first sections in operation

since 2012; completion expected in autumn 2013

South Stream: under construction; startup expected for 2015

Netherlands

France

Belgium

Poland

Czech Republic

Gas Transport

Efficient pipeline network – Well connected to major European distribution hubs

Nürnberg


Gas Transport

Gas transport business – Stable earnings contribution

39

Gas transport business generates stable earnings – Non-regulated pipelines: Ship-or-pay contracts; earnings independent from demand fluctuations – Regulated pipelines: Fixed tariffs

Security of supply through participation in transit pipelines – Securing deliveries from Russian gas to Western Europe

Recent investment focus on non-regulated pipelines offering more attractive returns – Nord Stream offshore – OPAL – South Stream offshore

Total investments pipeline infrastructure: €3.3 billion* (BASF share) – GASCADE: >€1.5 billion (BASF share) – OPAL, NEL: ~€0.65 billion (BASF share) – Nord Stream offshore: €1.15 billion (BASF share: 15.5%, financial investment, not part of capex)

* Investments until 1HY 2013




3 | Gas Transport



Outlook & Summary

BASF Oil & Gas – Outlook 2013 Sales and earnings increase

41

Exploration & Production In 2013, we expect an increase in sales and earnings due to higher production volumes. Overall, we anticipate higher production due to the further field development of Achimgaz

and our transaction with Statoil in Norway.

Natural Gas Trading In 2013, we expect a decrease in earnings due to margin pressure. We anticipate natural gas sales volumes to be on prior-year level.

Assumptions 2013 - Average oil price: $105 per barrel Brent - Average exchange rate: $1.30 per €


BASF’s Oil & Gas division – Summary and roadmap 2015

Strong E&P portfolio with access to high potential acreage

Low risk strategy with focus on regions of expertise and limited exploration risk

Solid project pipeline

Powerful partnerships in key regions

Oil & Gas maintains ambitious production target despite restatement due to changes in IFRS

Reduction of downstream / natural gas trading exposure




Back-up


Overview & Strategy

Experienced management team

45

Dr. Gerhard König 11 years with Wintershall 21 years experience in the gas trading industry

Dr. Ties Tiessen 17 years with Wintershall

Head of Exploration & Production Operating Companies, Exploration, Development, Technology, Engineering

CFO Finance, Legal, Taxes, Insurance, Procurement, Sales Oil & Gas

Head of Natural Gas Trading Gas Trading, Gas Storage, Gas Transport, Regulation Management

Mario Mehren 7 years with Wintershall

Head of Russia Wintershall Russia, Achimgaz, Senior Project South Stream/ Nord Stream

Dr. Rainer Seele 17 years with Wintershall

CEO Strategy &

Portfolio management, Communications,

Energy Politics, HR, HSE

Martin Bachmann 4 years with Wintershall 29 years experience in E&P industry


0

50

100

150

2003 2005 2007 2009 2011

Overview & Strategy

Oil & Gas – Production and trading volumes

46

Oil

Gas

Production (million boe)*

thereof Germany

Europe

144

104 109 112 111 112 130 136 133

113

2012 2013 H1

66

126

restated 2012

0

20

40

60

2003 2005 2007 2009 2011 2013 H1* Since November 2011 incl. Achimgaz ** Including sales to BASF

Natural Gas Trading (billion m³)**

47

29 30 33 35 37 42 39 41 42

27

CAGR 4% p.a.

CAGR 6% p.a.

2012

BASF Oil & Gas, September 2013 ** EBIT bSI more than halved due to deconsolidation of Wintershall AG (Libya). Net income remains unchanged

0

30

60

90

120

0

5

10

15

2003 2005 2007 2009 2011

Overview & Strategy

Oil & Gas – Sales and earnings

47

Sales* (billion €)

E&P

Gas Trading

2012 2013 H1

0

1

2

3

4

5

2003 2005 2007 2009 2011* Sales to third parties. Restated sales lower mainly due to the deconsolidation of Wintershall AG (Libya)

2012 2013 H1

E&P

Gas Trading

16.7

4.8 5.3

7.7

10.7 10.5

14.4

11.4 12.1 12.7

10.8

7.5

4.1

1.4 1.6

2.4

3.3 3.0

3.8

2.3 2.4 2.1 1.9

1.0

restated 2012

restated 2012

Brent oil (€/bbl) CAGR

15% p.a.

CAGR 13% p.a.

EBIT before special items** (billion €)


Overview & Strategy

Oil & Gas – Higher production volumes drive earnings

48

88

208

59

280

0

100

200

300

400

Q2/2012 Net Income Q2/2013 Net Income


525 (10%)

Natural Gas Trading 2,311 +17% €2,836

+10%

Q2’13 segment sales (million €) vs. Q2’12 EBIT bSI/Net income (million €)

Natural Gas Trading


Net income

Sales development Period Volumes Prices/Currencies Portfolio

Q2’13 vs. Q2’12 10% 0% 0%

330

242 323

382


Back-up

Market Environment


Market environment

Market trends

Difficult Reserve access

50


Energy demand grows mainly in emerging markets – in particular in China and India

Increasing energy efficiency enables GDP to grow faster than energy demand

Positive growth rates for all fuels, renewables with highest rates

Key facts

Source: IEA World Energy Outlook 2012; original figures in toe (1 toe = 7.332 boe) 51

Primary energy demand (million boe)

Oil Natural Gas

Nuclear Coal Renewables

Market environment

Fossil fuels will continue to dominate the primary energy demand

0

20.000

40.000

60.000

80.000

100.000

120.000

2010 2015 2020

93,000 103,000

109,000


Europe

Africa

Caspian Region

40

Asia Pacific South and

Central America

132

795 15 Russia

88

8 (46)

15 (88)

80 (484)

16 (101)

46 (278)

4 (26)

Oil, in billion boe

Natural Gas, in trillion m3 (billion boe)

Global oil and gas reserves

Natural Gas total reserves:

~195 trillion m3

(≅ 1,180 billion boe)

Oil total reserves:

~1,580 billion boe

Source: BGR 2012

Middle East 41

17 (103)

246

10 (60)

225

North America

Market environment

Global oil and gas reserves


Market environment

Changing competitive landscape – Technology key for partnerships

53

Reserve access getting more

difficult – Predominantly owned by national

oil companies (NOCs) – E&P technology gaining more

importance

Risk is increasing as reservoirs are getting more complex

Large investments are needed to meet growing energy demand

International oil companies (IOC) ~15%

National oil companies (NOC)

~85%

Technology ~40%

Drivers for largest M&A transactions 2012**

Resource ~60%

Holders of global Oil & Gas reserves 2011*

* Source: Oil & Gas Journal, WoodMackenzie, own calculation ** Source: Herold, own calculation

Key facts


0

5

10

15

20

Implied 3-years weighted average reserve replacement costs ($/boe)*

Russia has by far the lowest reserve replacement costs

Russia/ CIS

Africa/ Middle East

Asia Pacific

Latin America

United States

Europe Canada

Market environment

Reserve replacement costs by region

* Source: IHS Herold 2012, including acquisition, exploration and development expenditures


Market environment

Growing import need for natural gas in Europe (EU 27)

55

European supply/demand balance gas (billion m³)

European natural gas demand to increase from 490 billion m³ in 2012 to 550 billion m³ in 2020

End of oversupply expected by 2015

Shale gas not anticipated to compensate for declining domestic production

Additional imports needed in 2020 to cover projected supply/demand gap

Domestic production Pipeline imports** LNG supply* Demand

490 550 530

* FID Source: IHS CERA, Arthur D. Little, own calculation

Key facts

** Incl. contract prolongations


Market environment

Growing importance of Russia for European natural gas supply (EU 27)

56 Source: IHS CERA, BP, own calculations

Other Imports (LNG)

Imports Russia/Caspian Region (Pipeline)

Imports North Africa (Pipeline)

Europe Domestic production

European natural gas supply

2012 23% 2020 17-20%

2012 25% 2020 25-30%

2012 7% 2020 7-10%

2012 12% 2020 17-24%

2012 33% 2020 25%

Imports Norway (Pipeline)

. Natural decline of domestic gas

fields in Europe from 160 billion m³ in 2012 to 140 billion m³ in 2020 expected

Increasing importance of LNG imports in the middle and long run, particularly for UK, Spain and France

Russia to further increase gas exports into Europe from 115 billion m³ in 2012 to 140-160 billion m³ in 2020

Key facts


Market environment

Convergence of spot and contract gas prices despite increasing shale gas / LNG

57

Increasing LNG volumes largely absorbed by strong gas demand in Asia

Additional gas volumes (LNG) used in Japan after the natural disaster to compensate for damaged nuclear and coal power generation

Growing shale gas production in US mainly impacts US gas spot prices

Recent developments Natural gas price development ($/mmbtu)

Spot price Europe (Zeebrugge Hub) German import price

Source: BAFA, Argus

Spot price US (Henry Hub)

0

2

4

6

8

10

12

14

2008 2009 2010 2011 2012 2013


Back-up




Reserves and R/P at constant level

59

R/P ratio at 9 years

Total 1P reserves (2012) 1,157 million boe

Gas accounts for roughly 75% of total reserves

Strong contribution to reserve replenishment from assets in Russia

Participation in Yuzhno Russkoye led to strong increase in reserves in 2007

Asset swap with Gazprom in 2007 reduced oil reserves significantly**

Key facts 1P Reserves* (million boe) R/P (years)

0

2

4

6

8

10

12

0

200

400

600

800

1.000

1.200

1.400

2003 2006 2009 2012

Oil Natural gas R/P

* According to SEC guidelines; since Nov 2011 including Achimgaz; Libya onshore 51%

** Gazprom received a minority interest of 49% in a subsidiary of Wintershall, which holds the rights of the onshore concessions (C96/C97) in Libya

Reserve Replacement Rate (RRR, in percent)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

102 50 52 48 389 116 89 89 131 100

12

10

8

6

4

2

0



Reserves and resources 2012

60

Stable proven reserve position

Strong discovered resource base built on – Exploration success

(e.g. Norway) – Resource access

(e.g. Russia) – Improved recovery

(e.g. technology)

Discovered resource contributions from – Russia – Europe – South America

Key facts Reserves and Resources 2012 (billion boe)

0,0

0,5

1,0

1,5

2,0

2,5

3,0

3,5

* Proved reserves based on SEC definitions

1.2 billion boe

1.7 billion boe Discovered resources

Proved (1P) reserves*


Wintershall and Gazprom agree on asset swap relating to Blocks IV and V of the Achimov formation of the Urengoy natural gas and condensate field

Wintershall to receive 25% plus 1 share in Blocks IV and V of the Achimov formation with the option to further increase the share in the two deposits

Gazprom to receive: – 50% share in Wintershall Noordzee, which is active in the exploration and production of oil and gas in

the southern North Sea (Netherlands, UK, Denmark) – 50% shares (thus taking over 100%) in the gas trading companies WINGAS, WIEH and WIEE,

including shares in the natural gas storage facilities in Rehden and Jemgum, Germany, as well as Haidach, Austria, and the gas storage operator astora

– Activities to be divested contributed in total about €10 billion to sales and roughly €500 million to EBITDA of BASF Group in 2012

Transaction financially retroactive to April 1, 2013. Closing is subject to approval by the relevant authorities.

Ownership of gas transportation business unaffected


Asset swap with Gazprom – Transaction highlights


Focuses BASF’s Oil & Gas business on highly profitable upstream exploration and production activities and delivering medium-term earnings uplift

Provides access to attractive, condensate-rich Achimov assets

Significantly increases Wintershall’s resource base

Further strengthens the strategic partnership with Gazprom and Wintershall’s focus on Russia as a core region for Oil & Gas

Through participation in Nord Stream (15.5%) and South Stream (15%) respectively, Wintershall will contribute to reliable transportation of natural gas from Russia to Europe


Asset swap with Gazprom – Strategic rationale


Key field data: – Targeted field depth: ~3,600 meters – Total resources of Blocks IV and V: 2.4 billion boe

− 274 billion m³* of natural gas − 74 million tons of condensate

BASF share (600 million boe) equivalent to approx. 20% of total BASF hydrocarbon resource base as at Dec 31, 2011

Plateau production potential of >8 billion m³* p.a. in total for the two additional blocks

Synergies through regional and technological expertise of both partners

Start of production is planned for 2016

* Russian Standard Conditions (RSC)


Asset swap with Gazprom – Achimov Blocks IV and V key facts



Denmark – Exploration success

64

Oil discovery Hibonite in March 2013 in the Danish sector of the North Sea

The Hibonite prospect lies around seven kilometers north of the Ravn field which was successfully appraised in 2009

Partner: Wintershall (operator) 35%, Bayerngas 30%, NordsØfonden 20%, EWE 15%

Key field data: – 278 kilometer west of Esbjerg (DK) – Water depth: ~50 meters – Resources: ~100 million bbl (oil in place) – Targeted field depth: 4,431 meters – Production start: end of 2015 at the earliest

Next steps: – Evaluating commercial viability, further upside potential and

development synergies with the nearby Ravn discovery

64

Denmark

Norway Hibonite

The Netherlands

Germany

Den Helder

Amsterdam

Rijswjk


Denmark

Norway


Netherlands – Exploration success

65

In December 2012 Wintershall discovered oil in the exploration license F17a in the Dutch North Sea

Most southern extension of the chalk trend ranging from Norway through Denmark to the Netherlands

Partner: Wintershall (operator) 30%, EBN 40%, GDF SUEZ 20%, Rosewood 5%, TAQA Offshore 5%

Key field data: – 120 kilometer north of Den Helder (NL) – Water depth: ~44 meters – Resources: at least 30 million bbl – Targeted field depth: 1,490 meters – Production start: end of 2015 at the earliest

Next steps: – Appraisal drilling planned in 2013 – Additional nearby chalk exploration

F17-CK1

The Netherlands

Germany

Den Helder

Amsterdam

Rijswjk



Middle East - Shuwaihat project in Abu Dhabi

66

Shuwaihat is a discovered gas/condensate field (containing H2S and CO2) in the western region of Abu Dhabi

Wintershall is the operator in the appraisal phase with OMV as a partner on a 50/50 basis

Wintershall has more than four decades expertise to produce and to purify H2S and CO2 containing gas

Key field data: – 200 km west of Abu Dhabi – Water depth: 0-15 meters – Resources: 50-500 million boe – Targeted field depth: 3,400 meters – Production start: ~2020

Next steps: – An appraisal campaign is required to confirm the reserves and

to define the development plan



Middle East – Gas discovery offshore Qatar

67

Qatar Petroleum (QP), Wintershall and Mitsui discovered gas in the exploration Block 4 North (Khuff formation) offshore Qatar

Wintershall and QP entered into an exploration and production sharing agreement for the Block in 2008

Wintershall (80%) is operator, Mitsui (20%) joined in 2010 as partner

Key field data: – Discovery is located in direct proximity to the largest gas field

in the world, the North Field – Water depth: ~70 meters – Resources: ~70 billion cubic meter of gas (~400 million boe) – Targeted field depth: 3,500 meters – Production start: early 2017

Next steps: – Assessment of the economic field development

67

Block 4N

Qatar

Saudi Arabia

UAE

Iran

North Field



Argentina – Strong position with vast shale oil/gas potential

68

Participation in 15 oil and gas fields in Argentina – Active since 1978 – 26 million boe annual production 2012 – 4th largest gas producer – Applying leading-edge technologies to improve recovery – Activities in the provinces of Neuquén, Tierra del Fuego and

recently Mendoza

Field development in Tierra del Fuego and Neuquén

One of the regions with the best prospects for shale gas and shale oil outside North America with great potential in the Vaca Muerta horizon in the Neuquén basin

Operatorship for exploration licenses in the province of Mendoza for the Blocks CN-V and Ranquil Norte in 2012 awarded

New gas price scheme with significant gas price incentives for new gas projects

Santa Rosa

Buenos Aires

Exploration

Exploration

Production

Argentina

Chile

Tierra del Fuego

Operated blocks

Non operated blocks

Neuquén

Mendoza


Back-up

Outlook & Summary


2012 restated 2013

Financial performance

Sales to 3rd parties: €12.7 billion EBIT before special items: €1.9 billion Net income: €1.2 billion

E&P: In 2013, we expect an increase in sales and earnings due to higher production volumes. Natural Gas Trading: Decrease in earnings due to margin pressure.

Production volumes Total production: 126 million boe Overall higher production expected due to the further field development of Achimgaz and our transaction with Statoil in Norway.

Sales volumes Natural gas sales: 47 billion m³ Natural gas sales expected on similar level.

Investments*/ Expenditures

Investments 2008-2012 (IFRS old):~€5.2 billion thereof E&P: ~€3.1 billion thereof Natural Gas Trading: ~€2.1 billion

Investments** 2013-2015: ~ €2.4 billion thereof E&P: ~ €2.0 billion thereof Natural Gas Trading: ~ €0.4 billion

Macroeconomic assumptions

Average oil price (brent): $112 per barrel Average exchange rate: $1.28 per €

Forecast 2013: $105 per barrel $1.30 per €

Outlook & Summary

Oil & Gas – Outlook 2013

70 * Incl. tangible assets from acquisitions, activated exploration expenditures, without capex in financial participations

** Without tangible assets from acquisitions and activated exploration expenditures


Appendix Benchmarking

71


Production growth (percent p.a.) Five year average 2008-2012

-3.3

-1.2-1.0

-0.5

0.81.2

1.4

1.51.8

2.3

4.26.1

9.8

-5 0 5 10 15Wintershall

17.6

17.117.1

16.5

16.316.2

15.8

14.914.1

13.4

13.25.9

5.4

0 5 10 15 20

Production costs ($/boe) Five year average 2008-2012

Average peers

1.7

14.8

Peers Source: Herold, SEC, own calculation Peer Group represents an average of the E&P industry

Wintershall


Wintershall – Positioned competitively (1)


F&D cost ($/boe) Five year average 2008-2012

74.5

58.7

58.142.6

33.4

31.5

30.327.5

26.4

21.3

16.314.6

10.7

0 20 40 60 80

63.1

57.7

40.028.6

28.1

27.9

24.623.6

19.0

15.1

15.114.2

8.3

0 20 40 60 80

Reserve replacement costs ($/boe) Five year average 2008-2012

36.3 29.8



Wintershall Average peers Peers Source: Herold, SEC, own calculation Peer Group represents an average of the E&P industry


Reserve replacement (percent) Five year average 2008-2012

150

134134

130

128

105

100

26

219

133

118

8782

0 50 100 150 200 250

16.4

15.2

13.012.8

12.6

12.5

11.411.3

11.2

10.3

10.210.0

8.7

0 5 10 15 20

Reserve/Production ratio (years) Five year average 2008-2012

120 12.1



Wintershall Average peers Peers Source: Herold, SEC, own calculation Peer Group represents an average of the E&P industry


Oil & Gas EBIT

Financial results

= Income before taxes and minority interests

./. Income taxes (incl. non-compensable oil taxes in Libya)

./. Minority interests

= Net income

50%

15.5% 51% 100%

Wintershall AG (Libya) Achimgaz WINGAS Nord Stream

offshore

100%

Yuzhno Russkoye SNGP Gas Mktg C.*

-50%-1 of after tax income

Projects with Gazprom – Impact on BASF’s P&L

* Gas marketing company

35%


Business

BASF Roundtable Oil and Gas September 2013