BMW : Convocation of the Annual General Meeting 2024

N O T I C E O F

A N N U A L G E N E R A L M E E T I N G

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2	B A Y E R I S C H E M O T O R E N W E R K E A G .
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T a b l e o f c o n t e n t s & o v e r v i e w

N o t i c e o f A G M & a g e n d a

S u p p l e m e n t a r y i n f o r m a t i o n o n t h e a g e n d a i t e m s

F u r t h e r i n f o r m a t i o n a n d n o t e s

DEAR SHAREHOLDERS,

Our business model focused on individual premium mobility continues to offer BMW AG considerable potential for profitable growth and market share gains. Our company is robust and financially strong: This is demonstrated by our high profitability, our high level of investment in our future business success and the attractive dividend that we are again paying out of the current operating cash flow. We have achieved all of this in a dynamic and challenging environment.

In the 2023 financial year, the EBIT margin in the Automotive segment was 9.8%. In the long term, we are still aiming for our target corridor of 8 to 10%. At 11.0%, our Group EBT margin in 2023 was above the strategic target of 10%.

At the same time, we are investing heavily in our future. This applies both to 2023 and to the current year. Our investments in research and development are going into our products, the further electrification and digitalisation of our portfolio and automated driving. We are also investing in the future models of the NEUE KLASSE as well as in our modular kits, in the establishment of production facilities for high-voltage batteries in various countries and in the new plant in Debrecen, to name just a few examples. In this way, we are ensuring the competi- tiveness, financial strength and future success of your company.

2.55 million vehicles were delivered to customers in 2023. This was not only a solid increase compared to the previous year, but also a new record for the BMW Group and growth in all major regions of the world. Our individual brands also per- formed strongly, with BMW, BMW M, Rolls-Royce and BMW Motorrad all achieving top results. And MINI deliveries were up on the previous year despite the upcoming model change as part of the brand's comprehensive reorganisation.

In addition to significant growth in the luxury and upper premium segments, the strongest growth impulses last year came from our all-electric vehicles. In 2023, we sold over 375,000 battery-electric vehicles. That is almost 75% more than in the

previous year. This means that fully electric vehicles will account for around 15% of our total sales by the end of 2023.

Our flexible and open technology approach, in which we consistently develop all forms of drive, is proving to be the right strategy. It allows us to respond to our customers' different requirements and continue to make measurable progress in decarbonisation. At 102.1 grams per kilometre, we were 26.5 grams - or 20.6 % - below the target set by the European Un- ion. We will keep pursuing this path: We are continuing to electrify our vehicle fleet as planned, while at the same time introducing innovative Efficient Dynamics technologies across the entire fleet.

With its innovative vision vehicles, your company continues to demonstrate the direction in which we are taking mobility in line with the major global issues of the future - and in doing so, we are reconciling innovation with responsible action. Our NEUE KLASSE project, which symbolises the future direction of the company, is particularly representative of this.

It is much more than just a new vehicle family. It is an entirely new generation of BMW models - all with an all-electric drivetrain, fully digitised and with a strong focus on decarboni- sation. The innovations of the NEUE KLASSE will benefit the entire BMW product range in the future.

The new models will be launched in rapid succession from 2025: Six models will be launched within just 24 months. We presented the range of NEUE KLASSE at the BMW Group Annual Conference on 21 March 2024. With the "BMW Vision the NEUE KLASSE" sports sedan and the "BMW Vision the NEUE KLASSE X" SAV concept, we are previewing the core models of our future electric product portfolio.

Oliver Zipse

Chairman of the Board of Management

Walter Mertl

Member of the Board of Management (Finance)

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We can assure you: Both Vision vehicles will soon be launched on the market in a similar form. And in between there is still plenty of room for everything that will characterise the BMW brand in the future.

The environment for our business activities in 2024 will continue to be characterised by numerous challenges, such as the weak economy in some markets, the price war in the automotive market, high interest rates and uncertainties arising from geopolitical developments.

All the more reason for us to continue to seize our opportunities.

On behalf of the entire Board of Management, we would like to thank all our stakeholders for the past year: Our employees, all customers around the world and the global dealership organisation, our development partners and suppliers. And finally, you: Our shareholders, who have accompanied and supported the BMW Group on its long journey.

We cordially invite you to the 104. Annual General Meeting of Bayerische Motoren Werke Aktieng- esellschaft on 15 May 2024. The company's 2024 Annual General Meeting will be held as a virtual Annual General Meeting without the physical presence of shareholders, based on the new provisions of the German Stock Corporation Act. This gives shareholders easy access to the Annual General Meeting with rights comparable to those at a physical meeting.

Please note that if you wish to attend the Annual General Meeting and exercise your other shareholder rights, you will need to register for the virtual Annual General Meeting in the usual way via your custodian bank. Further information can be found in section C. of the convening notice.

Continue to accompany us on our BMW journey!

We look forward to an exciting and informative Annual General Meeting and to exchanging ideas with you, our esteemed shareholders.

Yours sincerely,

S u p p l e m e n t a r y i n f o r m a t i o n o n t h e a g e n d a i t e m s

F u r t h e r i n f o r m a t i o n a n d n o t e s

Oliver Zipse	Walter Mertl
Chairman of the Board of Management	Member of the Board of Management (Finance)

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TABLE OF CONTENTS.
Overview	5
Agenda at a glance	5
Information according to the Implementing Regulation (EU) 2018/1212 - IR (excerpt)	5
A. Convening of the AGM and Agenda	6
Item 1. Presentation of the adopted Company Financial Statements and the approved Group
	Financial Statements along with the consolidated Management Report for the Company
	and the Group as of 31 December 2023 and the report of the Supervisory Board for the
	financial year 2023	6
Item 2. Resolution on the utilisation of unappropriated profit	6
Item 3. Resolution on the ratification of the acts of the Board of Management	7
Item 4. Resolution on the ratification of the acts of the Supervisory Board	7
Item 5. Election of the auditor	7
Item 6. Elections to the Supervisory Board	7
Item 7. Resolution on the approval of the remuneration report	8
B. Supplementary information on the agenda items	9
Re agenda item 6.1. CV of the nominee Dr hc Susanne Klatten and further information	9
Re agenda item 6.2. CV of the nominee Stefan Quandt and further information	10
Re agenda item 6.3. CV of the nominee Dr Vishal Sikka and further information	11
Re agenda item 7. Remuneration Report	11
C. Further information and notes	62
1.	Total number of shares and voting rights at the time of convening	62
2.	Virtual Annual General Meeting	62
3.	Online service of the Company	62
4.	Broadcast of the Annual General Meeting on the internet	62
5.	Prerequisites for attending and exercising voting rights	62
6.	Postal vote	63

7.	Authorisation with voting instructions to the proxies appointed by the Company	63
8.	Authorisation of third parties	64
9.	Requests for items to be added to the agenda	64
10.	Countermotions and election proposals	64
11.	Submission of statements	65
12.	Right to speak	65
13.	Right to request information	66
14.	Right to object	66
15.	Other publications and supplementary information	66
16.	Information on data protection	66

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OVERVIEW.

Agenda at a glance.

(abbreviated version of the agenda)

• Item 1.
  Presentation of financial statements and supplementary reports.
• Item 2.
  Utilisation of unappropriated profit. Resolution proposal by the Management:
  Dividend distribution of € 6.02 per preference share and € 6.00 per common share.
• Item 3.
  Ratification of the acts of the Board of Management.
• Item 4.
  Ratification of the acts of the Supervisory Board.
• Item 5.
  Election of the auditor.
  Election proposal by the Supervisory Board: Re-election of PwC.
• Item 6.
  Elections to the Supervisory Board. Election proposals by the Supervisory Board:
  Re-election of Dr hc Susanne Klatten, Stefan Quandt and Dr Vishal Sikka
• Item 7.
  Approval of the Renumeration Report.

N o t i c e o f A G M &	S u p p l e m e n t a r y i n f o r m a t i o n	F u r t h e r i n f o r m a t i o n
a g e n d a	o n t h e a g e n d a i t e m s	a n d n o t e s

Information according to the Implementing Regulation (EU) 2018/1212 - IR (excerpt).

A1 Unique identifier of the event	GMETBMW124BS (common shares)
		GMETBMW324BS (preference shares)
A2	Type of message	NEWM (Notice of AGM)
B1	ISIN	DE0005190003 (common shares)
		DE0005190037 (preference shares)
B2	Name of issuer	Bayerische Motoren Werke Aktiengesellschaft (BMW AG)
C1	Date of the General Meeting	20240515 (15 May 2024)
C2	Time of the General Meeting	08:00 UTC (10:00 a.m. CEST)
C3	Type of General Meeting	GMET
		(Annual General Meeting as a virtual General Meeting of
		Shareholders without the physical presence of share-
		holders or their proxies - with the exception of the voting
		proxies appointed by the Company)
C4	Location of the General Meeting	www.bmwgroup.com/agm-service
C5	Record Date	20240423
		(23 April 2024, 24:00 hours CEST)
C6	Uniform Resource Locator	www.bmwgroup.com/agm

The full disclosures required by Implementing Regulation (EU) 2018/1212, including sections D and E, are available at www.bmwgroup.com/agm.

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F u r t h e r i n f o r m a t i o n a n d n o t e s

A. CONVENING OF THE AGM AND AGENDA.

Non-binding convenience translation.

We hereby convene the 104th Annual General Meeting of Bayerische Motoren Werke Aktiengesell- schaft (hereinafter also referred to as "BMW AG" or the "Company") with its registered office in Munich

on Wednesday, 15 May 2024, at 10:00 a.m. (CEST).

In accordance with § 118a of the German Stock Corporation Act (AktG), the Annual General Meeting will be held as a virtual General Meeting of Shareholders without the physical presence of shareholders or their proxies (with the exception of the voting proxies appointed by the Company). For registered shareholders, the virtual Annual General Meeting will be broadcast live in its entirety at www.bmwgroup.com/agm-service from BMW Welt, Am Olympiapark 1, 80809 Munich, Germany.

The convening of the Annual General Meeting is published in the Federal Gazette in due time. A typeset version of the convocation document is available at www.bmwgroup.com/agm(↗ Convening of the Annual General Meeting 2024).

Item 1.

Presentation of the adopted Company Financial Statements and the approved Group Financial Statements along with the consolidated Management Report for the Company and the Group as of 31 December 2023 and the report of the Supervisory Board for the financial year 2023.

In accordance with statutory provisions, no resolution is proposed to be adopted on agenda item 1, as the Supervisory Board has already approved the Company Financial Statements and the Group Financial Statements. The Company Financial Statements are thus adopted.

The aforementioned documents, which include the explanatory report of the Board of Management on the disclosures pursuant to §§ 289a and 315a of the German Commercial Code (HGB), and the Statement on Corporate Governance pursuant to §§ 289f, 315d HGB with the Corporate Governance Report, are available on the Company's website at www.bmwgroup.com/agm. They will also be available there during the Annual General Meeting and explained in more detail. accessible and explained in more detail at the Annual General Meeting.

Item 2.

Resolution on the utilisation of unappropriated profit.

The Board of Management and the Supervisory Board propose that the unappropriated profit for the financial year 2023 in the amount of € 3,802,488,470.32 be utilised as follows:

• Distribution of a dividend in the amount of €6.02 per € 1 par value upon non-voting preference shares (57,320,307 preference shares), amounting to € 345,068,248,14;
• Distribution of a dividend in the amount of € 6.00 per € 1 par value on the dividend bearing share capital (573,864,574 common shares), amounting to € 3,443,187,444.00;
• Transfer of the remaining amount of € 14,232,778.18 to other revenue reserves.

Dividend per preference share	€ 6.02
Dividend per common share	€ 6.00
Distribution to shareholders	€ 3,788,255,692.14
Transfer to other revenue reserves.	€ 14,232,778.18

The proposal for the utilisation of unappropriated profit reflects 5,931,093 treasury common shares and 1,600,101 treasury preference shares held by the Company at the date of the preparation of the annual financial statements on 12 March 2024. These treasury shares are not entitled to a dividend pursuant to § 71b AktG.

Until the Annual General Meeting, the number of dividend-bearing shares may change compared to the above figures at the date the annual financial statements were prepared. In this case, the Board of Management and the Supervisory Board will submit an updated resolution proposal to the Annual General Meeting with an unchanged dividend amount per share entitled to dividends and correspondingly adjusted figures for the distribution amount and the transfer to other revenue reserves.

The dividend falls due for payment on the third business day following the Annual General Meet- ing, § 58 (4) sentence 2 AktG. Accordingly, payment is scheduled for 21 May 2024.

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Item 3.

Resolution on the ratification of the acts of the Board of Management.

The Board of Management and the Supervisory Board propose that the acts of the members of the Board of Management in the financial year 2023 be ratified for this period.

The Chairman of the Meeting intends to have the Annual General Meeting decide on the ratification of the acts of the Board of Management by way of a collective vote on all members.

Company and Group auditor for the financial year 2024 and as auditor to carry out a review of the Condensed Interim Group Financial Statements and Interim Group Management Report for the first six months of the financial year 2024.

In its recommendation to the Supervisory Board, the Audit Committee stated that its recommendation was free from influence by a third party and that no clause of the kind referred to in Article 16 (6) of Regulation (EU) No. 537/2014 (EU Statutory Auditor Regulation) has been imposed on it.

Item 4.

Resolution on the ratification of the acts of the Supervisory Board.

The Board of Management and the Supervisory Board propose that the acts of the members of the Supervisory Board who were in office during the 2023 financial year and are listed below under items 4.1 to 4.20 be ratified for this period:

4.1	Dr Norbert Reithofer (Chairman)	4.11 Johann Horn
4.2	Dr Martin Kimmich (Deputy Chairman)	4.12 Dr hc Susanne Klatten
4.3	Stefan Quandt (Deputy Chairman)	4.13 Jens Köhler
4.4	Stefan Schmid (Deputy Chairman)	4.14 Gerhard Kurz
4.5	Dr Kurt Bock (Deputy Chairman)	4.15 André Mandl
4.6	Christiane Benner	4.16 Dr Dominique Mohabeer
4.7	Dr Marc Bitzer	4.17 Anke Schäferkordt
4.8	Bernhard Ebner	4.18 Prof Dr Christoph M. Schmidt
4.9	Rachel Empey	4.19 Dr Vishal Sikka
4.10 Dr Heinrich Hiesinger	4.20 Sibylle Wankel

The Chairman of the Meeting intends to have the Annual General Meeting decide on the ratification of the acts of the Supervisory Board by way of individual votes on each member.

An overview of the attendance of the members of the Supervisory Board at the meetings in the financial year 2023 is available at www.bmwgroup.com/agm(↗ Annexe to Item 4: Attendance at meetings of the Supervisory Board members in the financial year 2023).

Item 5.

Election of the auditor.

On the recommendation of the Audit Committee, the Supervisory Board proposes that Pricewa- terhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main (PwC), be appointed as

Item 6.

Elections to the Supervisory Board.

The current terms of office of the Supervisory Board member Dr hc Susanne Klatten, Stefan Quandt and Dr Vishal Sikka will end with the conclusion of the Annual General Meeting on 15 May 2024. For this reason, three Supervisory Board members are to be elected by the shareholders.

The Supervisory Board is composed in accordance with §§ 96 (1) and (2), 101 (1) AktG and § 7

1. sentence 1 no. 3 of the German Co-Determination Act (MitbestG). It therefore consists of ten members each from among the shareholders and the employees. In addition, the Supervisory Board must be composed of at least 30% women and at least 30% men (statutory rule for mini- mum gender ratio).

The shareholder representatives on the Supervisory Board have objected to the fulfilment of the ratio by the Supervisory Board as a whole pursuant to § 96 (2) sentence 3 AktG, so the minimum ratio for these Supervisory Board election must be fulfilled separately by the shareholder repre- sentatives. The shareholders must therefore be represented on the Supervisory Board by at least three women and three men. Excluding the above-mentioned Supervisory Board members, the Supervisory Board has two women and five men on the shareholder side. In order to continue to meet the minimum quota, at least one woman must be elected to the Supervisory Board.

The Supervisory Board proposes that the following persons be elected as shareholder representative on the Supervisory Board with effect from the end of the Annual General Meeting on 15 May 2024:

6.1 Dr hc Susanne Klatten, Munich, entrepreneur, for a term of office until the end of the Annual General Meeting at which the ratification of the acts of the Supervisory Board is resolved for the financial year 2027,

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1. Stefan Quandt, Bad Homburg v. d. Höhe, entrepreneur, for a term of office until the end of the Annual General Meeting at which the ratification of the acts of the Supervisory Board is re- solved for the financial year 2027,
2. Dr Vishal Sikka, Los Altos Hills, California/USA, Founder and CEO of Vianai Systems, Inc., for a term of office until the end of the Annual General Meeting at which the ratification of the acts of the Supervisory Board is resolved for the financial year 2027.

It is planned that the elections will be held on an individual basis.

Dr hc Susanne Klatten is a member of the Supervisory Board of BMW AG since 1997 and a member of the Nomination Committee. She directly and indirectly holds around 21.7 % of the voting shares (common shares) of BMW AG and is therefore considered a shareholder with a material interest in the company in accordance with recommendation C.13 of the German Corporate Governance Code (version dated 28 April 2022, hereinafter: GCGC). Dr hc Susanne Klatten and the companies controlled by her are also related parties of BMW AG within the meaning of IAS 24 (for related party transactions of BMW AG in the financial year 2023, see ↗ BMW Bericht

2023, p. 221.

Stefan Quandt is also a member of the Supervisory Board of BMW AG since 1997 and its Deputy Chairman since 1999. He is also a member of the Presiding Board, the Personal Committee, the Audit Committee, the Nomination Committee and the Mediation Committee. Mr Quandt directly and indirectly holds around 26.8 % of the voting shares (common shares) of BMW AG and is therefore considered a shareholder with a material interest in the company in accordance with recommendation C.13 of the GCGC. Mr Quandt and the companies controlled by him are also related parties of BMW AG within the meaning of IAS 24 (for related party transactions of BMW AG in the financial year 2023, see ↗ BMW Bericht 2023, p. 221.

Dr Vishal Sikka is a member of the Supervisory Board of BMW AG since 2019. The Supervisory Board considers Mr Sikka to be independent within the meaning of recommendations C.6 and C.7 of the GCGC.

Apart from this, in the opinion of the Supervisory Board, the proposed Supervisory Board candidates have no personal or business relationship with the Company or Group companies, corporate bodies of the Company or a shareholder with a material interest in the Company that must be disclosed in accordance with the recommendations of the GCGC.

The Supervisory Board's election proposals are based on the recommendations of the Nomination Committee. The proposals also take into account the targets for the composition of the Supervisory Board and aims to complete the competence profile for the entire Supervisory Board

(see also the CVs of the Supervisory Board candidates under ↗ Supplementary information on the agenda itemsor under ↗ Annexe to item 6: CVs of the proposed candidats for the Supervisory Board)

Item 7.

Resolution on the approval of the remuneration report.

The Supervisory Board and the Board of Management propose that the remuneration report for the financial year 2023, prepared and audited in accordance with § 162 AktG, be approved.

In addition to the audit for completeness pursuant to § 162 (3) AktG, the auditor also reviewed the content of the remuneration report beyond the legal requirements and issued a corresponding audit opinion.

The remuneration report including the auditor's report is attached to this convening document in the section ↗ Supplementary information on the agenda itemsand is also available on the Company's web- site at www.bmwgroup.com/agm (↗ Annexe 1 to item 7: Remuneration Report). A presentation summarising the Remuneration Report is also available there (↗ Annexe 2 to item 7: Presentation on the Remuneration Report).

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B. SUPPLEMENTARY INFORMATION ON THE AGENDA ITEMS.

Re agenda item 6.1.

CV of the nominee Dr hc Susanne Klatten and further information.

Dr hc Susanne Klatten

Munich

Entrepreneur

Member of the Supervisory Board of BMW AG since 1997

Year of birth: 1962

Place of birth: Bad Homburg v. d. Höhe, Germany

Nationality: German

Professional background and training.

since 1991 Independent entrepreneur

1988 International Institute for Management Development (Lausanne, Switzerland), degree: MBA

1984 - 1985 Business studies at the University of Buckingham (UK), degree: B.Sc.

Expertise and main areas of activity.

Dr hc Klatten is an independent entrepreneur and a major shareholder in BMW AG.

profile of the Supervisory Board of BMW AG:

• International experience and special expertise in one or more of the company's key markets: Europe, China, USA
• Experience in the management and supervision of another medium-sized or large company
• Expertise in the following company-relevant fields of competency: Corporate strategy, tech- nologies, purchasing/supply chains, production/manufacturing, sales/customer needs, capi- tal market, mobility, human resources/personnel management, environmental and social sustainability
• Familiarity with the sector in which the company operates

As a significant shareholder of BMW AG and long-standing member of the Supervisory Board, Dr hc Klatten is not considered independent within the meaning of recommendations C.6 and C.7 of the GCGC (version dated April 28, 2022).

Memberships on Committees of the Supervisory Board of BMW AG.

• Nomination Committee

Memberships on other mandatory supervisory boards (●) and comparable domestic and foreign supervisory bodies of business enterprises ().

Through her supervisory board activities at BMW AG and other internationally operating companies as well as several years spent abroad, Dr hc Klatten has international experience and special expertise in the European, Chinese and US markets.

Dr hc Klatten also brings expertise in the areas of sustainability, corporate strategy and human resources to the work of the Supervisory Board of BMW AG as a result of her many years on the supervisory board of SGL Carbon SE (as a member from 2009 through May 2023 and as chairwoman from April 2013 through May 2023). As deputy chairwoman of the supervisory board of ALTANA AG and chairwoman of the supervisory board of UnternehmerTUM GmbH, she also has expertise in the areas of technology and purchasing/supply chains. Her longstanding membership on the Supervisory Board of BMW AG as a major shareholder makes her an expert in the field of mobility.

Composition targets and competency profile of the Supervisory Board of BMW AG.

Dr hc Klatten fulfils the following composition targets and characteristics of the competency

• ALTANA AG1,2 (Deputy Chairwoman)  SprinD GmbH1
   UnternehmerTUM GmbH1 (Chairwoman)

1. Not listed on the stock exchange.
2. Group mandate.

Note: Dr hc Klatten indirectly holds all shares in ALTANA AG and is the sole shareholder of Un- ternehmerTUM GmbH. The mandates at SprinD GmbH and UnternehmerTUM GmbH are primarily an expression of her corporate citizenship.

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Re agenda item 6.2.

CV of the nominee Stefan Quandt and further information.

Stefan Quandt

Bad Homburg v. d. Höhe

Entrepreneur

Member of the Supervisory Board since 1997,

Deputy Chairman since 1999

Year of birth: 1966

Place of birth: Bad Homburg v. d. Höhe, Germany

Nationality: German

Professional background and training.

since 1996 Independent entrepreneur

1994 - 1996 Datacard, Marketing Manager Asia Pacific

1987 - 1993 Graduated with a degree in industrial engineering from the University of Karlsruhe (TH)

Expertise and main areas of activity.

Mr Quandt is an independent entrepreneur and a major shareholder in BMW AG.

Due to his many years of entrepreneurial experience, his many years as chairman of the supervisory board of DELTON Health AG (formerly DELTON AG), and his membership on supervisory bodies of other companies, he has particular expertise in the European, Chinese and US markets

of the Supervisory Board of BMW AG:

• International experience and special expertise in one or more of the company's key markets: Europe, China, USA
• Experience in the management and supervision of another medium-sized or large company
  Expertise in the following company-relevant fields of competency: Corporate strategy, tech- nology, finance (accounting and auditing), mobility, human resources/personnel manage- ment, compliance, IT/digitalization/artificial intelligence, change management/business transformation, environmental sustainability
• Familiarity with the sector in which the company operates

As a significant shareholder of BMW AG and long-standing member of the Supervisory Board, Mr Quandt is not considered independent within the meaning of recommendations C.6 and C.7 of the GCGC (version dated 28 April 2022).

Memberships in Committees of the Supervisory Board of BMW AG.

-	Presiding Board	-	Nomination Committee
-	Personnel Committee	-	Mediation Committee

• Audit Committee

Memberships on other mandatory supervisory boards (●) and comparable domestic and foreign supervisory bodies of business enterprises ().

as well as experience in the management and supervision of other medium-sized or large com- panies.

Due to his entrepreneurial activities in the field of digital security and renewable energy supply as well as his active support of the portfolio restructuring of various companies, Mr Quandt brings special expertise in the areas of IT/digitalization, ecological sustainability and change manage- ment/business transformation to the work of the Supervisory Board.

As a member of the Presiding Board, the Personnel Committee and the Audit Committee of the Supervisory Board of BMW AG since 1999, Mr Quandt also has in-depth knowledge in the areas of corporate strategy, personnel/compensation of the Board of Management, and finance (ac- counting and auditing).

Composition targets and competency profile of the Supervisory Board of BMW AG.

Mr Quandt meets the following composition targets and characteristics of the competence profile

• DELTON Health AG1,2 (Chairman)
• DELTON Technology SE1,2 (Chairman)
• Frankfurter Allgemeine Zeitung GmbH1  AQTON SE1,2 (Chairman)
   Entrust Corp.1,2
   SOLARWATT GmbH1,2

1. Not listed on the stock exchange.
2. Group mandate.

Note: Mr Quandt is the sole shareholder of DEL- TON Health AG, DELTON Technology SE and AQTON SE, and indirectly holds majority interests in Entrust Corp. and SOLARWATT GmbH.