wintershall set for further growth upstream

Wintershall Set for further growth upstream

Performance Products

20%

Chemicals

18%

Plastics

14%

Functional Solutions

15%

Oil & Gas

21%

Sales by segment 2012 (percent)

Other

6%

Agricultural

Solutions

6%

€ 78.7 billion

With an EBIT of € 3,9 billion*, Wintershall attained around 44% of the total BASF-EBIT in 2012.

Overview

Wintershall in BASF Group

2

* Adapted to international accounting standards IFRS 10 and 11. which BASF has applied since January 1, 2013 EBIT for 2012 now is € 1,676 million.

3

Polymer injector

Production well

Schizophyllan – proprietary biopolymer

stable in high temperature and high salinity

reservoirs

Increased incremental oil recovery

of up to 10% on waterflooding

The biopolymer will be produced by

a fungus in pilot scale plant at BASF

Schizophyllan technology to be verified

at oil field Bockstedt, Germany

First field trial worldwide in a mature

oil field

Pilot project to confirm lab-scale results

Exploration & Production: Enhanced oil recovery

Schizophyllan technology

Exploration & Production (Oil & Gas)

Nearfield/Greenfield exploration

Onshore & offshore operations (shallow water)

4 core regions: Europe, Russia, South America, North Africa

2 development regions: Middle East, Caspian Sea Region

Differentiation through technology

Strategic partnership with Gazprom & Statoil

Natural Gas Trading*, Storage* & Transport

Transport, storage and trading of natural gas

Strong position in Germany, expanding into Europe

Large gas consumers (e.g. municipalities,

industrial customers, power plants)

Investment focus on non-regulated infrastructure

Strategic partnership with Gazprom

* With the asset swap between BASF SE and OAO Gazprom Wintershall will completely transfer the currently jointly operated natural gas trading and storage business to its long-term

partner Gazprom. Subject to the approval by the relevant authorities, the transaction is to be completed by the end of 2013 and financially retroactive to April 1, 2013.

Overview

Strategic footprint

4

5

Natural gas production

in billion m3 *

Crude oil production

in million t *

* 100% C96/97, not incl. Achimgaz

Overview

Crude Oil and natural gas production

7.6 8.1 8.0 8.6

3.9 5.0 5.1

6.1 6.9 7.3

8.5 8.8 8.5

7.5 7.8

8.4

11.6

7.7 6.8

13.6

5.8

14.3

3.4

14.1 15,2

6.5

6

1894 — Wintershall founded (potash and rock salt mining)

1930 — Entry into oil production

1950 — First steps towards production of natural gas

1969 — 100% subsidiary of BASF

1989 — Denmark entry

1990 — Co-operation with Gazprom

1993 — WINGAS founded

1999 — Divestment of refinery activities

2002 — Acquisition of Clyde Netherlands B.V.

2006 — First production well of the E&P joint venture Achimgaz in conjunction with Gazprom

2007 — Production start of natural gas field Yuzhno Russkoje

2008 — Acquisition of Revus Energy ASA

2012 — Asset swaps with Gazprom & Statoil

Wintershall at a glance

Milestones

7

Exploration & Production: Selected core regions

Core Regions

OPCO

Production and/

or Exploration

Russia

Core region

Development region

8

Wintershall Noordzee B.V.

Acreage

Dutch Offshore

Noordwinning Group:

Pennzoil Operator

Wintershall: Partner Operator

German Offshore

Deutsche Nordsee Gruppe: DEA BEB

Wintershall: Partner Operator


History in the Southern Northsea

9

10


Fully fletched Operator

Access to capital through strong Shareholder

Long term investments - conveyor belt approach

Acquisition – Exploration – Development – Production - Abandonment

Objective: be Operator of choice and produce hydrocarbons


Our Capabilities

0 25 50 km

N

Lic.11/89W`hall 36,25%

1989-1994

Lic.4/95W`hall 20%1995-1998

Lic.5/89W`hall 7,58%

1989-1993


Denmark - Wintershall Concessions 1989-1998

Kiel

Rostock

År hus

Malmø

Kolding

Odense

Alborg

Gothenburg

Freder ikshavn

COPENHAGEN

Næstved

DENMARK

Bornholm(DENMARK)

0 50 100 km

Lic.12/89W`hall 47,22%

1989-1992

Lic 11/98

2004-2007

Lic.11/89

1989-1994

Lic 4/95

1995-1998

Lic 5/89

1989-1993

Lic 12/89

1989-1992

12

Preferably explore from or close to existing infrastructure

Host platforms

Pipelines

Re-use exploration wells for production

OPEX control

Maintenance Strategy

Remote Control

Minimum Facilities


Growth through exploration


Comparison of DK 5/89 then vs DK 11/98 1992 situation:

A6-A development still uncertain

A6 beach sand play (Strandsandfalle) extension into Denmark identified

Need for 3D seismic recognized (available 2D not good enough)

Drill or drop by end 1992

Conclusion: don’t drill, drop

2003 situation:

A6-A developed, providing infrastructure access

3D seismic now covers A6-A and prospect (available to Wintershall only!)

Robin now mapped confidently, E of old Strandsandfalle

Reservoir mapped on 3D from A6-A into Robin prospect

11/98 Group faces drill or drop, licence available at low cost

Conclusion: recommend to acquire

13


First German Offshore Gasfield

14

15

6-pile manned platform

320 km. from Den Helder

Capacity: 4.5 MMm3/day

4” export condensate-pipeline to F-3

20” export gas-pipeline to F-3 platform

Compression (gas driven turbine)

Gas drying facilities

Condensate stabilisation facilities

Water treatment facilities


Infrastructure 2000 onwards

16

3D Seismic survey (2007)

Ravn-3 (2009)

Hibonite-1 (2012)

Hibonite-1 A

Hibonite-1 B

Spurv-1(2013)

Chabazite (2014)


Recent Exploration activities

17

Development investments require stability:

Licence control over development area

Fiscal climate

Observations for Licence Control Northsea

Carving out producing part out of exploration licence

Fallow Field mechanism

Fiscal Climate, changes were announced in May 2013


Development

18

Most fields in Denmark produce from Chalk reservoirs

Deeper sandstone reservoirs can be more complex - Faulting - Reservoir quality - Heterogeneity

Pilot phase required - Appraisal character, marginal economics

License control over total (potential) development area is essential


New game, new rules

19

Netherlands

Small Field Policy introduced in 1973 following oil crisis

Marginal Field incentive in 2010

What is next ?

United Kingdom (Chancellor of Exchequer)

De-commissioning Relief Deed

Doubled allowance for small fields

New relief for unexplored deepwater wells

Larger shallow-gas fields allowance


Investment Stimulation

20

Government

Provide stable fiscal regime

Supportive in :

Testing of New Technology

Brownfield upgrades and Infrastructure invetsments

Transparent Energy Policy and/or Industry Strategy

Industry

Share best practices

Manage Projects sensibly

Develop and introduce new Technology

Communicate to Stakeholders


Who does what

21

Reneweable Energy and Shale gas

Successful Energy Policy

will support a range of technologies.

North Sea Oil and Gas

are a

pivotal part of these discussions


Investment Climate

22

Thank you

wintershall set for further growth upstream

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