Joint News Release

BASF and TODA further strengthen their collaboration and increase
investments in Cathode Materials to enable e-mobility
BASF TODA Battery Materials LLC creates the world’s largest calcination
facility for high nickel Cathode Active Materials in Japan

BASF and TODA combine manufacturing activities in the United States tosupply the growing North American battery materials market

Ludwigshafen/Germany and Tokyo/Japan, December 14, 2017 – BASF and TODA
KOGYO CORP. (TODA) announced two significant steps to further enhance theircollaboration. A strengthening of production capabilities both in the United Statesand Japan will help enable e-mobility and generate business opportunities for thetwo companies.
BASF TODA Battery Materials LLC (BTBM), a joint venture between BASF andTODA, has now tripled its high nickel Cathode Active Materials (CAMs) capacity at
its Onoda site in Japan.
BTBM was established as a BASF-majority owned joint venture in 2015 to build up
production capacity to meet customers’ needs in the rapidly evolving CAMs market.
With the completion of this expansion, BTBM is now operating the world’s largest
calcination facility for already qualified high nickel CAMs for its growing customerbase.
Furthermore, both parties announced their plan to collaborate in the United States.
Manufacturing facilities in Elyria, Ohio, and Battle Creek, Michigan, will be combined
to form BASF Toda America LLC (BTA). This new entity, majority owned andcontrolled by BASF, will provide unique solutions supporting customers’ needs inhigh energy CAMs and will establish a strong position for BTA in the fast-growing
North American e-mobility market.
“BASF and TODA anticipate the fast-growing market needs in e-mobility. Thefurther collaboration in North America supports BASF’s strategy to be a global
leader in the cathode materials market and reinforces BASF’s commitment toexplore a broad range of opportunities to accelerate our growth and expansion inbattery materials,” said Kenneth Lane, President of BASF’s Catalysts division.
Tadashi Kubota, Chairman of TODA KOGYO CORP., added, “The success ofBTBM is purely led by the integration of an unparalleled technology of TODA andthe global market presence of BASF. We are continuously making developments
together to achieve a profitable business which is demonstrated by a strong
relationship and trust that has been built overtime. We are confident to realize
further business success together in the battery materials market through ourcollaboration both in Japan and in the United States.”“With the capacity expansion in Japan, BASF becomes one of the world’s leading
cathode materials suppliers, further strengthening our market position in highenergy cathode active materials for e-mobility applications,” said Jeffrey Lou, SeniorVice President of Battery Materials at BASF. “Our collaboration with TODA in theNorth American market further expands our global manufacturing footprint,positioning BASF as a reliable partner to support customer needs in key regionswith local production.”

About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success withenvironmental protection and social responsibility. The approximately 114,000 employees in theBASF Group work on contributing to the success of our customers in nearly all sectors and almost
every country in the world. Our portfolio is organized into five segments: Chemicals, Performance
Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated
sales of about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt(BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.

About BASF’s Catalysts Division
BASF’s Catalysts division is the world’s leading supplier of environmental and process catalysts. The
group offers exceptional expertise in the development of technologies that protect the air we breathe,produce the fuels that power our world and ensure efficient production of a wide variety of chemicals,
plastics and other products, including advanced battery materials. By leveraging our industry-leading
R&D platforms, passion for innovation and deep knowledge of precious and base metals, BASF’s
Catalysts division develops unique, proprietary solutions that drive customer success. Further
information on BASF’s Catalysts division is available on the Internet at www.catalysts.basf.com.

About TODA KOGYO CORP.
TODA KOGYO CORP. is specialized in the Wet Synthesis Technology of metal oxide, andmanufacturing cathode materials for lithium-ion batteries, coloring materials including pigments andtoners, magnetic powder materials, ferrite materials and other various magnetic materials. We aim toexpand our business globally along with our fundamental line to provide solutions to support society
in the aspects of information, environment and energy. TODA KOGYO CORP. had consolidated net
sales of about 27.9 billion JPY in the fiscal year 2016, as well as about 1,200 employees at the endof 2016. More information on TODA KOGYO CORP. is available at www.todakogyo.co.jp.

Media contacts:
BASF Corporation
Cesar F. Garcia
BASF Catalysts division
Phone: +1-732-205-7650
E-mail: cesar.f.garcia@basf.com

TODA KOGYO CORP.
Naotaka Tanimoto, Koji Miyahara
Corporate Planning Department
Phone: +81-82-577-0055
E-mail: webmaster@todakogyo.co.jp