Implementation of the German Corporate Governance Code (GCGC)
BASF advocates responsible corporate governance that focuses on sustainably increasing the value of the company. BASF SE follows all of the recommendations of the German Corporate Governance Code in the version dated April 28, 2022 (Code 2022), the version in force at the time of submitting the Declaration of Conformity on December 20, 2023. In the same manner, BASF follows almost all of the nonobligatory suggestions of the German Corporate Governance Code. Only suggestion A.7, whereby the duration of the Annual Shareholders’ Meeting should not exceed six hours, was not complied with by BASF in 2023 due to the large number of questions asked at the Annual Shareholders’ Meeting.