ConversationStefanie WettbergSenior Vice President of Investor Relations Good morning, everybody. Welcome to our Capital Market Update. It's a pleasure to have you join us here in Antwerp as well as online. We are streaming this first part of today's event, the keynote and the subsequent Q&A live, from our Verbund site in Belgium. The other parts of the program will not be live streamed. However, PDFs of all presentations will be available shortly before they begin. And later today, you will find replays on ...

Core Viewpoint - The automotive industry is at a critical juncture, transitioning from a linear economy to a circular economy, emphasizing resource reduction, reuse, and recycling as key drivers for innovation and high-quality development [3][4]. Group 1: European Market Challenges - The European electric vehicle market is facing significant challenges, with a projected 5.9% decline in electric vehicle sales in 2024, indicating a slowdown in the electrification process [6]. - Europe heavily relies on imports for battery raw materials, with 98% of lithium and 80% of natural graphite sourced externally, leading to increased supply chain risks and costs [7]. - The EU's stringent new battery regulations require comprehensive lifecycle management, including carbon footprint reporting and recycling targets, which pose significant pressure on local automotive manufacturers [8][12]. Group 2: Potential in European Electrification - Despite challenges, the European electric vehicle market holds substantial potential, with 1.45 million new pure electric vehicles expected to be registered in 2024, and a total of 5.87 million pure electric vehicles by year-end [12]. - The EU's new carbon emission targets necessitate that manufacturers achieve at least 20% of their sales from pure electric vehicles to avoid hefty fines, driving the urgency for electrification [12]. - The first five months of 2024 saw a 25% increase in electric vehicle registrations in the EU compared to the previous year, indicating a growing acceptance of electric vehicles [12]. Group 3: Opportunities for Industry Collaboration - The global energy circular plan is seen as a potential platform for collaboration between Chinese and European companies, leveraging China's established battery recycling capabilities and Europe's regulatory expertise [15]. - Chinese companies, such as CATL, have developed a comprehensive closed-loop system for battery production, usage, recycling, and material regeneration, positioning them favorably in the global market [16][17]. - European automotive giants like Mercedes and BMW are increasingly recognizing the benefits of collaborating with established Chinese supply chains to accelerate their electrification efforts and meet regulatory requirements [19][21]. Group 4: Strategic Shifts in the Battery Materials Industry - The battery materials industry is undergoing a transformation, with companies shifting from being mere consumers of raw materials to providers of integrated solutions that include recycling and material regeneration [23][24]. - The collaboration between Chinese battery companies and European automakers is not just about procurement but serves as a strategic lever to navigate regulatory, cost, and technological challenges [22][24]. - Early involvement in global initiatives like the energy circular plan allows companies to transition from compliance followers to co-shapers of industry standards and technologies, enhancing their competitive positioning [25].

Core Viewpoint - Mingyang Smart Energy has appointed Horatio Evers as the CEO of its European division, aiming to enhance its global influence in the renewable energy sector [1][3]. Group 1: Leadership Appointment - Horatio Evers brings over 20 years of experience in the international energy industry, previously serving as the head of global energy business at BASF, managing its renewable energy portfolio [3]. - Evers has held senior management positions in Singapore, Switzerland, and Germany, providing him with extensive experience across various energy segments [3]. - The appointment is expected to strengthen Mingyang's strategic deployment of local talent and business localization in Europe [4]. Group 2: Strategic Goals - Mingyang aims to consolidate its position in the global market and accelerate the European net-zero initiatives with Evers' leadership [4]. - The company is committed to driving global sustainable development and advancing towards a zero-carbon future through innovation and collaboration [4].

Core Viewpoint - BASF announced its exit from the sulfite business and the closure of its related plant in Ludwigshafen, Germany, affecting approximately 65 employees, as part of a strategic evaluation of its production facilities [1] Group 1: Strategic Focus - The decision reflects BASF's commitment to focusing on business activities with long-term value creation potential [1] - The president of BASF's monomer business unit emphasized that focus is the core of BASF's success strategy, ensuring competitiveness in a challenging economic environment through profitability and long-term value creation [1] Group 2: Market Context and Cost Reduction - Sulfites are used as reducing agents in the textile industry and as bleaching additives in the pulp and paper sector [1] - In response to changing market and economic conditions, BASF initiated cost-cutting and efficiency-enhancing transformations, launching specific measures in February 2023 to reduce costs in non-production areas in Europe [1] - Additional cost reduction measures for the Ludwigshafen site were announced in early 2024, alongside a new "Winning with Purpose" strategy that differentiates management of core and autonomous businesses [1] Group 3: Business Divestitures - In recent years, BASF has sold various businesses, including bioenergy enzymes, mining flocculants, food and health functional ingredients, and decorative coatings in Brazil [1]

Core Viewpoint - BASF SE (BASFY) is exiting the hydrosulfites business and closing the Ludwigshafen production facility as part of a strategic review to optimize its production setup [1][3][7] Group 1: Business Strategy - The decision to phase out the supply of various hydrosulfites reflects BASF's commitment to long-term growth and value creation potential [2] - The closure of the Ludwigshafen facility is part of a broader strategy to streamline operations and optimize the company's portfolio, focusing on profitability and long-term value creation [3][7] Group 2: Employee Impact - Approximately 65 employees currently working in the hydrosulfites business will receive support in finding new positions within the BASF Group during the transition [2][7] Group 3: Market Performance - BASFY's shares have declined by 5.3% over the past year, while the industry has experienced a larger decline of 27.3% [3]

Core Insights - The Global Impact Alliance (GIC), led by CEOs from major chemical companies, has initiated a collaborative research project aimed at exploring the synergy between traditional chemical processes and emerging waste conversion technologies for circular and net-zero emissions [1] Group 1: Project Overview - The project will focus on the direct conversion of waste into chemicals in a more sustainable manner, utilizing gasification processes to transform complex waste streams into high-value C2+ compounds [1] - These C2+ compounds are essential raw materials for producing products such as sensitive plastics, detergents, coatings, and textiles [1] Group 2: Environmental and Economic Assessment - Researchers from ETH Zurich will conduct environmental and techno-economic assessments of the direct conversion process, which will help evaluate the feasibility of concept validation and outline conditions for potential pilot-scale projects [1] - The project aims to shift the chemical industry from reliance on fossil-based raw materials to renewable and circular carbon sources [1] Group 3: Technological Challenges - The collaboration will also address key technological challenges in the waste-to-chemical conversion process, including the handling of heterogeneous waste and the integration of new raw materials into the existing chemical value chain [1]

Key Takeaways BASFY is expanding xarvio FIELD MANAGER For AgBusiness with launches in Argentina and Brazil.The platform boosts efficiency through analytics, agronomic advice and farm management features. BASFY plans further rollout in France and Germany in 2026 after completing testing protocols.BASF SE’s (BASFY) Digital Farming business is ramping up the global rollout of xarvio FIELD MANAGER For AgBusiness, with launches scheduled in Argentina and Brazil. This scalable, purpose-built digital platform is g ...

Core Insights - X-ELIO has launched its Liberty Energy Project in Dayton, Texas, which combines 72 MW of solar photovoltaic capacity with 60 MW of battery storage capacity, marking its first combined solar PV and battery energy storage system project in the U.S. [1][3] - The project will supply 100% of the expected power at BASF's Freeport site from renewable energy, supporting BASF's commitment to net-zero emissions by 2050 [3][7]. Company Developments - The Liberty Project is part of a 12-year Power Purchase Agreement (PPA) between BASF and X-ELIO, where BASF will source 48 MW of electricity from the project [3]. - X-ELIO is developing a pipeline of 2.8 GW of solar PV and 2.1 GW of storage projects in the U.S. to advance competitive energy solutions [3]. Community Engagement - X-ELIO's Community & Nature Plan Program includes initiatives such as the creation of a shared green space, construction of a boardwalk for improved accessibility, and restoration of the drainage system at the Liberty Food Bank [4][5]. - The company is also actively recruiting volunteers for local initiatives like Meals on Wheels, demonstrating its commitment to social responsibility [5]. Financial Overview - BASF Corporation reported sales of $19.7 billion in 2024, indicating a strong financial position to support sustainable initiatives [6]. - BASF generated sales of €65.3 billion in 2024, showcasing its global market presence and commitment to sustainability [8]. Company Background - X-ELIO, a Brookfield-owned company, specializes in renewable energy project development with a global presence and over 3 GW built [9]. - BASF operates as a leading chemical company with a focus on enabling customers' green transformation [8].

该项目将以外购异十二烯一体化项目生产的合成气和氢气为原料，项目建成后将为巴斯夫一体化基地的 非离子表面活性剂(NIS)装置提供关键原料，丰富下游产品结构，提升竞争力。 中化新网讯 9月23日，记者从湛江市生态环境局了解到，巴斯夫一体化基地(广东)有限公司3万吨年异构 十三醇(TDN)装置通过项目环境影响评价，获得批准。 据介绍，该项目将在广东湛江东海岛石化产业园巴斯夫一体化项目预留地内开工建设，占地面积1.15万 平方米。项目将新建一套设计规模3万吨/年的TDN装置，配套建设异十二烯卸车设施、TDN装车臂，以 及10kV变电站等辅助设施，公用设施依托巴斯夫(广东)一体化项目现有工程。项目总投资6.8亿元，其 中新建环保设施投资约5600万元。 ...

Core Insights - BASF's MSCI ESG rating has been downgraded from A to BBB as of September 22, 2025 [1] Group 1 - The downgrade reflects a significant change in the company's ESG performance metrics [1]