30. Related Party Transactions

Related parties are legal or natural entities that can exert influence on the BASF Group or over which the BASF Group exercises control or joint control, or a significant influence. These primarily include nonconsolidated subsidiaries, joint ventures and associated companies as well as BASF SE’s Board of Executive Directors and Supervisory Board.

The following tables show the volume of business with related parties that are included in the Consolidated Financial Statements at amortized cost or accounted for using the equity method. Transactions with related parties are carried out under normal market conditions. The figures also include sales, receivables, other receivables as well as liabilities and other liabilities that are assigned to the discontinued operations.

Sales and trade accounts receivable from and trade accounts payable to related parties mainly included business with own products and merchandise, agency and licensing businesses, and other operating businesses.

Other receivables and liabilities primarily arose from financing activities, from accounts used for cash pooling, outstanding dividend payments, profit and loss transfer agreements, and other finance-related and operating activities and transactions.

The decrease in other receivables from nonconsolidated subsidiaries resulted primarily from other finance-related receivables.

The decrease in other liabilities to nonconsolidated subsidiaries as well as joint ventures resulted from other finance-related liabilities and contract liabilities.

Balances outstanding to related parties were generally not secured and were settled in cash.

The balance of valuation allowances on other receivables from nonconsolidated subsidiaries declined from €120 million as of December 31, 2024, to €117 million as of December 31, 2025. The addition to valuation allowances on other receivables from nonconsolidated subsidiaries was recognized as an expense in the amount of €0 million (previous year: €8 million).

The balance of valuation allowances on trade accounts receivable from nonconsolidated subsidiaries decreased from €4 million as of December 31, 2024, to €3 million as of December 31, 2025. The balance of valuation allowances on trade accounts receivable from joint ventures declined from €3 million as of December 31, 2024, to €0 million as of December 31, 2025. The addition to valuation allowances on trade accounts receivable from nonconsolidated subsidiaries as well as joint ventures was €0 million in both 2025 and 2024.

BASF had obligations from guarantees and other financial obligations in favor of nonconsolidated subsidiaries in the amount of €1 million as of December 31, 2025, and €5 million as of December 31, 2024, in favor of joint ventures in the amount of €19 million as of December 31, 2025, and €42 million as of December 31, 2024, and in favor of associated companies in the amount of €1 million as of December 31, 2025, and €3 million as of December 31, 2024.

Obligations arising from purchase contracts with joint ventures amounted to €2,655 million as of December 31, 2025, and €2,943 million as of December 31, 2024. In both years, the obligations mainly resulted from power purchase agreements.

Annual minimum rental payments for an office building including a parking area payable by BASF SE to BASF Pensionskasse VVaG for the nonterminable basic rental period until 2029 amounted to €8 million (previous year: €8 million). Furthermore, there were financial liabilities with BASF Pensionskasse VVaG amounting to €337 million as of December 31, 2025 (previous year: €266 million). BASF SE had other finance-related receivables from BASF Pensionskasse VVaG in the amount of €80 million as of December 31, 2025, and as of December 31, 2024.

The increase in supplies and services rendered by joint ventures is attributable to higher volumes. The decrease in supplies and services received from associated companies is primarily attributable to the disposal of two associated companies.

There were no reportable related party transactions with members of the Board of Executive Directors or the Supervisory Board and their related parties in 2025 other than those presented in Note 29.

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