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Investor Presentaiton

150 years Cost curve case study: Acrylic acid China Acrylic Acid cash cost curve, China average cash costs 2015 in US$/kg Cash costs BASF new process BASF classic process D-BASF We create chemistry Continuous process innovation leads to best-in-class technology ■ ■ Proprietary BASF technology, with best-in-class process Significant cost synergies due to two parallel projects (Nanjing, Camacari) Acrylic acid will supply downstream units (superabsorbent polymers; acrylates) BASF Capital Market Story January 2015 Production capacity Source: BASF estimate 41

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