Implementation status of the competence profile, diversity concept, independence requirements and further objectives for the composition of the Supervisory Board

According to the Supervisory Board’s own assessment, its current composition meets all of the requirements of the competence profile: Every single area of competence is covered by multiple members of the Supervisory Board. In particular, the in-depth knowledge and experience of the chemical sector and the related value chains, which are crucial for understanding the business activities of BASF, are broadly represented. The Supervisory Board also has the essential knowledge of accounting, financial reporting and auditing, including sustainability reporting and its auditing, required for monitoring the management of the company.

According to the Supervisory Board’s own assessment, its current composition also meets all of the independence requirements in full: Eleven of the 12 current members, of which six are shareholder representatives and five are employee representatives, are considered independent based on the above criteria. As such, the Supervisory Board’s independence rate stands at 91.7%. Only the employee representative Michael Vassiliadis is no longer considered independent as he has been a member of the Supervisory Board since August 2004, and therefore for over 12 years.

Furthermore, the Supervisory Board meets the required composition criteria under the diversity concept in full: The share of women stands at 33.3%, the share of members with international experience stands at 50%, the share of different educational backgrounds and professional expertise stands at 66.7% and the share of members under 60 at 66.7%.

The implementation status of the competence profile, diversity concept, independence requirements and further objectives for the composition of the Supervisory Board is disclosed below in the form of a qualification matrix:

Qualifications matrix of the shareholder representatives in the Supervisory Board

Qualifications matrix of the employee representatives in the Supervisory Board

^a Not publicly listed
^b Publicly listed
^c Based on a self-assessment by the Supervisory Board and taking into account the individual assessment of each of its members. A check mark signifies at least good knowledge in this area and thus the ability to understand relevant issues well and make informed decisions, either on the basis of existing qualifications or on the basis of knowledge acquired through the Supervisory Board activity and in further training measures.
^d In particular, taking into account the sustainability topics that are material for BASF, which were identified following the double materiality assessment. Details can be found in the section “Competence of the Board of Executive Directors and Supervisory Board in monitoring sustainability aspects”.