#1BMW GROUP JOY IS ELECTRIC M MINI ROLLS-ROYCE MOTOR CARS LTD JOY IS ELECTRIC BMW ANNUAL GENERAL MEETING 2022. INVESTOR PRESENTATION. INVESTOR RELATIONS. Museum BMW - Annual General Meeting 2022 - Investor presentation | April 2022#2BMW AGM 2022. AGM-TOPICS. 1 2 General topics AGM - Format, interaction opportunities and agenda 3 Item 2 - Dividend 4 US 5 6 Item 6 - Elections to the Supervisory Board - Dr.-Ing. Hiesinger Item 7 - Approval of the remuneration report Item 8 - Authorisation of a Share buyback program BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -2-#3THE BMW GROUP IS COMMITTED TO ACHIEVING THE 1.5°C TARGET. SCIENCE BASED TARGETS DRIVING AMBITIOUS CORPORATE CLIMATE ACTION The BMW Group joined the "Business Ambition for 1.5°C" campaign launched by the internationally recognised Science-Based Targets Initiative. This includes our commitment to achieving climate- neutrality along the value chain by 2050. It also automatically makes us a member of the UN's Race to Zero programme. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 1.5°C -3-#4OUR MISSION: THE GREENEST ELECTRIC CAR WILL BE MADE BY BMW. "WE DON'T DO SUSTAINABILITY AT BMW. WE MAKE BMW SUSTAINABLE." Sustainability Targets M EV 4003E BMW - Annual General Meeting 2022 - Investor presentation | April 2022 10 1.5°C Use Phase Lifecycle million -50% -40% CO2 per car during use phase 2030 vs. 2019 CO₂ per car during entire lifecycle 2030 vs. 2019 BEVs in the next 10 years Share of secondary materials will increase to 50% on average per car -4-#5SUSTAINABILITY AND CLIMATE RISK REPORTING IN THE BMW GROUP REPORT 2021. TCFD Task Force on Climate-Related Financial Disclosures Reporting on the management of climate-related risks and opportunities in the TCFD-related reporting section. EU TAXONOMY Introduction of a standardised system to classify what is sustainable. The BMW Group starts to report the taxonomy- eligible proportion of revenues, capital expenditures and operational expenditures for the first two environmental objectives (Climate change mitigation and Climate change) adaptation.* USTAINABILITY ACCOUNTI SASB STANDARDS BOARD Sustainability Accounting Standard Board Introduction of the ESG-reporting in line with the requirements of the Sustainability Accounting Standards Board. BMW GROUP THE FUTURE IS ELECTRIC, DIGITAL AND CIRCULAR ROLLS-ROYCE * From the reporting years 2022 and 2023 onwards, the reporting requirements are to be successively expanded to include the taxonomy-aligned proportion of revenues, capital and operational expenditures and to all environmental objectives. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -5-#6BMW AGM 2022. AGM-TOPICS. 1 2 General topics AGM - Format, interaction opportunities and agenda 3 Item 2 - Dividend 4 US 5 6 Item 6 - Elections to the Supervisory Board - Dr.-Ing. Hiesinger Item 7 - Approval of the remuneration report Item 8 - Authorisation of a Share buyback program BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -6-#7BMW ANNUAL GENERAL MEETING 2022. FORMAT OF AGM AND OVERVIEW OF INTERACTION OPPORTUNITIES. AGM FORMAT Format INTERACTION OPPORTUNITIES Right to speak ? Right to ask questions ? Opportunity to ask follow-up questions The Annual General Meeting will be held as a virtual Annual General Meeting without the physical presence of the shareholders or their proxies - with the exception of the proxies of the Company. Shareholders may submit statements with reference to an item on the agenda in text form or by video (viewable by registered shareholders before and during the Annual General Meeting). In addition, it is planned to play video statements by shareholders during the Annual General Meeting. Publication of summaries or topics of speeches by the Board of Management and Supervisory Board is planned before the deadline for submitting questions. Shareholders who have registered for the Annual General Meeting may address questions to the Board of Management on matters concerning the Company. The Company also allows shareholders to ask follow-up questions on a voluntary basis. The number of follow-up questions is limited to one per question originally asked and a total of two follow-up questions per shareholder. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -7-#8Item Item 1 Company and Group Financial Statements, Management Report and Report of the Supervisory Board BMW AGM 2022. OVERVIEW ON THE AGENDA AND PROPOSED RESOLUTIONS.* Subject Voting No voting Item 2 Utilisation of unappropriated profit Management proposal: dividend distribution of € 5.82 per preference share and € 5.80 per common share Item 3 Ratification of the acts of the Board of Management Item 4 Ratification of the acts of the Supervisory Board Election of the auditor Item 5 Yes/No Abstain Yes/No Abstain Yes/No Abstain Yes/No Abstain Management proposal: PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main Item 6 Election to the Supervisory Board Yes/No Abstain Management proposal: re-election of Dr-Ing Heinrich Hiesinger Item 7 Approval of the remuneration report Yes/No Abstain Item 8 Authorisation to acquire and utilise treasury shares, including redemption of shares and reduction of share capital, and to exclude subscription rights Yes/No / Abstain Item 9 Approval of Amendment Agreements to existing Profit and Loss Transfer Agreements between BMW AG and six subsidiaries 9.1 Amendment Agreement with Bavaria Wirtschaftsagentur GmbH 9.2 Amendment Agreement with BMW Anlagen Verwaltungs GmbH 9.3 Amendment Agreement with BMW Bank GmbH 9.4 Amendment Agreement with BMW Fahrzeugtechnik GmbH 9.5 Amendment Agreement with BMW INTEC Beteiligungs GmbH 9.6 Amendment Agreement with BMW M GmbH Gesellschaft für individuelle Automobile Yes/No Abstain Yes/No Abstain Yes/No Abstain Yes/No Abstain Yes/No Abstain Yes/No Abstain Abridged representation. The wording of the agenda items and the proposed resolutions as published in the Federal Gazette (Bundesanzeiger) on 29 March 2022 shall be authoritative. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -8-#9BMW AGM 2022. AGM-TOPICS. 1 2 General topics AGM - Format, interaction opportunities and agenda 3 Item 2 - Dividend 4 US 5 6 Item 6 - Elections to the Supervisory Board - Dr.-Ing. Hiesinger Item 7 - Approval of the remuneration report Item 8 - Authorisation of a Share buyback program BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -9-#10ITEM 2 - DIVIDEND. CONSISTENTLY RELIABLE DIVIDEND PAYOUTS TO BMW SHAREHOLDERS. Total Dividend payout to BMW AG shareholders [in m€] Strategic Target Payout Ratio: 30-40%. 3,827 2,630 2,300 2,303 2,102 1,904 1,646 1,508 1,640 1,707 1,253 32.7 32.9 33.3 32.1 32.0 32.8 32.0 32.5 Payout ratio* [in %] 30.7 30.2 30.7 Dividend per ordinary share** 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 *** 2.30 2.50 2.60 2.90 3.20 3.50 4.00 3.50 2.50 1.90 5.80 [in €] * ** *** Payout ratio: total dividend payout to BMW AG shareholders divided by Group net profit. Preferred stocks receive an additional dividend of € 0.02 per share. Proposed Dividend by Management. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -10-#11BMW AGM 2022. AGM-TOPICS. 1 2 General topics AGM - Format, interaction opportunities and agenda 3 Item 2 - Dividend 4 US 5 Item 6 - Elections to the Supervisory Board - Dr.-Ing. Hiesinger Item 7 - Approval of the remuneration report 6 Item 8 - Authorisation of a Share buyback program BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -11-#12BMW AG - SUPERVISORY BOARD. STAGGERED TERMS FOR SHAREHOLDER REPRESENTATIVES. Term of office Dr.-Ing. Norbert Reithofer since 2015 (>6y) Chairman of the Supervisory Board Stefan Quandt Deputy Chairman of the Supervisory Board Dr. Kurt Bock since 1997 (>12y) since 2018 (>3y) Deputy Chairman of the Supervisory Board Dr. Marc Bitzer since 2021 (<1y) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 AGM 2022 AGM 2023 AGM 2024 AGM 2025 Rachel Empey since 2021 (<1) Dr.-Ing. Heinrich Hiesinger since 2017 (>4y) Susanne Klatten since 1997 (>12y) Anke Schäferkordt since 2020 (>1y) Prof. Dr. Christoph Schmidt since 2021 (<1y) Dr. Vishal Sikka since 2019 (>2y) Expiring mandates (1) (1) (3) (5) BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -12-#13BMW AG SUPERVISORY BOARD - SHAREHOLDER REPRESENTATIVES. WELL BALANCED STRUCTURE. Professional Experience Age ≥ 65 10% <55 20% ≥ 55 and < 65 70% Term of Office ≥ 5 years and <12 years 10% ≥12 years 20% German 70% Nationality Non- - Type of Work - (multiple nominations) * German 30% Previous Member of the Executive Board of a non-listed company 1 Entrepreneur or Founder Academia * incl. dual citizenships (German and other) Current or previous Member of the Executive Board of a listed company Gender - Previous working experience abroad - (multiple nominations) Female 30% 5 4 3 Male 70% < 5 years 70% Outside Europe Europe (w/o Germany) Memo: All statistics shown refer to shareholder representatives only as of March 2022. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -13- 6#14BMW AG - SUPERVISORY BOARD. STAGGERED TERMS FOR SHAREHOLDER REPRESENTATIVES. Expiring Mandates in Dr.-Ing. Heinrich Hiesinger 2022 BMW - Annual General Meeting 2022 - Investor presentation | April 2022 2023 Dr. Kurt Bock Susanne Klatten Stefan Quandt Dr. Vishal Sikka 2024 2025 Dr.-Ing. Norbert Reithofer Dr. Marc Bitzer Rachel Empey Anke Schäferkordt Prof. Dr. Christoph Schmidt -14-#15ITEM 7 - ELECTIONS TO THE SUPERVISORY BOARD. SUPERVISORY BOARD'S ELECTION PROPOSAL: DR.-ING. HEINRICH HIESINGER. Dr.-Ing. Heinrich Hiesinger, Chairman of the Supervisory board of ZF Friedrichshafen AG* . Since 2022 - Chairman of the Supervisory board of ZF Friedrichshafen AG. Previously Chief Executive Officer of thyssenkrupp AG until 2018, member of the Board of Management of Siemens AG. Many years of management experience with international companies. Extensive expertise in the areas of technologies, product development, production, automation, digitalisation, compliance and sustainability. Knowledge about special tasks of globally distributed corporate functions through managerial roles in Germany and abroad with expertise across the entire value chain of the automotive industry. Supporting the work of the Supervisory Board, especially in the areas of compliance and sustainability. Composition targets and diversity concept • • • • International experience and/or special expertise in one or more markets outside Germany that are important for the company. Experience in the management and/or supervision of another large company. Expertise in the following topics relevant to the company: mobility, digitalisation, compliance, technologies and sustainability. Independent within the meaning of recommendation C.7 of the GCGC (German Corporate Governance Code). Membership in other statutory supervisory boards and equivalent national or foreign company boards • Deutsche Post AG, Fresenius Management SE*, ZF Friedrichshafen AG* * not publicly listed Election Proposal • Period of office from the end of the AGM 2022 until the end of the AGM at which the ratification of the acts of the Supervisory Board is resolved for the FY-2025 (4 years). BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -15-#16BMW AG - SUPERVISORY BOARD. Shareholder Representatives Dr.-Ing. Norbert Reithofer since 2015 Chairman of the Supervisory Board Stefan Quandt since 1997 Deputy Chairman of the Supervisory Board Dr. Kurt Bock since 2018 Deputy Chairman of the Supervisory Board Dr. Marc Bitzer since 2021 Dr.-Ing. Heinrich Hiesinger since 2017 Susanne Klatten since 1997 Anke Schäferkordt since 2020 Employee Representatives Rachel Empey since 2021 Prof. Dr. Christoph Schmidt since 2021 Dr. Vishal Sikka since 2019 Manfred Schoch since 1988 Deputy Chairman of the Supervisory Board Stefan Schmid since 2007 Deputy Chairman of the Supervisory Board Christiane Benner since 2014 Bernhard Ebner since 2021 Johann Horn since 2021 Jens Köhler since 2021 Dr. Dominique Mohabeer since 2012 Sibylle Wankel since 2022 Dr. Thomas Wittig since 2019 N.N. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -16-#17SUPERVISORY BOARD - CURRENT COMPETENCE PROFILE. Shareholder Representatives Dr.-Ing. Norbert Reithofer Mobility, Technology, Customer Needs Financial Expert (Audit) in Audit Committee Chairman of the Supervisory board Stefan Quandt Energy Supply, Digital Security Deputy Chairman of the Supervisory board Dr. Kurt Bock Chemistry, IT, Sustainability, Capital Markets Financial Expert (Audit & Accounting) in Audit Committee Deputy Chairman of the Supervisory board Dr. Marc Bitzer Technology, Customer Needs, Supply Chain, Capital Markets Rachel Empey Mobility, Customer Needs, Capital Markets, IT, Financial Services Anke Schäferkordt Communications, Media Prof. Dr. Christoph Schmidt Science, Sustainability, Resources, Human Resources Dr. Vishal Sikka Digitalisation, Art. Intelligence, IT, Business Transformations Dr.-Ing. Heinrich Hiesinger Mobility, Digitalisation, Compliance, Technology, Sustainability Susanne Klatten Future Technologies, Materials Technologies, Human Resources Employee Representatives Manfred Schoch Stefan Schmid Mobility, Human Resources, Customer Needs Deputy Chairman of the Supervisory board Mobility, Human Resources, Chemistry Deputy Chairman of the Supervisory board Christiane Benner Mobility, Digitalisation, Change Management Jens Köhler Mobility, Human Resources Dr. Dominique Mohabeer Digitalisation, IT, Human Resources BMW - Annual General Meeting 2022 - Investor presentation | April 2022 Sibylle Wankel Mobility, Human Resources, Compliance Bernhard Ebner Mobility, Human Resources Johann Horn Mobility, Human Resources Dr. Thomas Wittig N.N. Financial Services - 17-#18BMW AG - PRESIDING BOARD AND SUPERVISORY BOARD COMMITTEES. Presiding Board (Präsidium) Personnel Committee (Personalausschuss) Dr.-Ing. Norbert Manfred Schoch Dr.-Ing. Norbert Manfred Schoch Reithofer Chairman Reithofer Chairman Audit Committee (Prüfungsausschuss) Nomination Committee (Nominierungsausschuss) Mediation Committee (Vermittlungsausschuss) Dr. Kurt Bock Chairman, Financial Expert (Accounting & Audit) Dr.-Ing. Norbert Reithofer Financial Expert (Audit) Dr.-Ing. Norbert Reithofer Chairman Dr. Kurt Bock Dr.-Ing. Norbert Reithofer Chairman Manfred Schoch Stefan Quandt Stefan Schmid Stefan Quandt Stefan Schmid Manfred Schoch Stefan Quandt Susanne Klatten Stefan Quandt Stefan Quandt Stefan Schmid Dr. Kurt Bock Dr. Kurt Bock Stefan Schmid BMW - Annual General Meeting 2022 - Investor presentation | April 2022 Employee representatives -18-#19BMW AGM 2022. AGM-TOPICS. 1 2 General topics AGM - Format, interaction opportunities and agenda 3 Item 2 - Dividend 4 Item 6 - Elections to the Supervisory Board - Dr.-Ing. Hiesinger 5 Item 7 - Approval of the remuneration report 6 Item 8 - Authorisation of a Share buyback program BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -19-#20ITEM 7 - SUMMARISED OVERVIEW. APPROVAL OF THE REMUNERATION REPORT (1/2). • . · For the financial year 2021 the revised remuneration system for the Board of Management, which was approved by the AGM 2021 with a majority of 91.60%, was applied for the first time. The remuneration report was prepared according to the new requirements of § 162 of the German Stock Corporation Act (AktG). In addition to the legally required formal examination the auditing firm PwC has audited the remuneration report by way of a voluntary substantive examination. The Supervisory Board has determined the remuneration of the members of the Board of Management within the framework of the remuneration system. The option to make adjustments or to deviate from the remuneration system due to extraordinary developments was not applied. The caps for the overall remuneration as well as for the components of the variable remuneration were observed. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -20-#21ITEM 7 - SUMMARISED OVERVIEW. APPROVAL OF THE REMUNERATION REPORT (2/2). · Approximately 38% of the variable target remuneration for vesting year 2021 was linked to environmental, social or governance targets (ESG-targets). The share of the actual variable remuneration for vesting year 2021 linked to ESG- targets amounts to approximately 27%.1 This is due to the high level of achievement with respect to the financial targets. The share of the long-term share-based remuneration (SbR; personal cash investment amount) amounts to approximately 52% of the total variable remuneration for vesting year 2021. Based on the share ownership guidelines the personal cash investment amount has to be used by the board members to acquire BMW shares with a minimum holding period of four years. The remuneration granted for the financial year 2021 as set out in the remuneration report includes, according to the requirements of § 162 AktG, the performance cash plan 2019-2021 and the share-based remuneration component (matching component) 2016, which are variable remuneration components granted for earlier vesting years (2016, 2019). The Supervisory Board did not see a reason to withhold the payment of variable remuneration (malus) or to make use of clawback rules regarding variable remuneration already paid. In accordance with the articles of association, the remuneration of the supervisory board members consists of a fixed remuneration only. 1 Statements on the relative proportion of remuneration components relate to remuneration for the vesting year 2021, unless otherwise noted. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -21-#22TARGET ACHIEVEMENT VARIABLE REMUNERATION FOR VESTING YEAR 2021.1 Minimum Target Maximum Actual value value value value Target achievement Profit attributable to shareholders of BMW AG (in € billion) 3.0 5.3 11.0 12.4 180% Group return on sales after tax 3.0 5.6 9.0 11.2 Base (in %) remuneration Fixed remuneration and fringe benefits Weighting³ Minimum Target Maximum Actual value value value value Target achievement Bonus Earnings component Interdepartmental targets - ESG 50% 0% 100% 180% 107.0% Interdepartmental targets - Other 40% 0% 100% 180% 102.5% 106% Performance component Departmental targets 10% 0% 100% 180% [113.1- 118.1%]² Weighting³ Minimum Share-based remuneration Personal investment cash amount value ROCE in the Automotive Segment 50% 10.00% Target value 16.00% Maximum value 45.00% Actual value 59.9% Target achievement 180% Strategic focus targets Reduce CO2 fleet emissions in the EU (g/km WLTP) 25% 125 114 100 115.9 91% Sales of all-electric vehicles (units) 12.5% 75,000 101,000 170,000 103,854 103% 1 Simplified depiction. For a detailed description see page 284 et. seqq. of the BMW Group Report 2021. Sales of plug-in hybrid vehicles (units) 12.5% 180,000 241,000 400,000 224,460 86% 2 Individual target achievement. 3 Target level. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -22-#23TARGET AND ACTUAL REMUNERATION FOR VESTING YEAR 2021.1 Chairman of the board² Target remuneration Fixed remuneration in € 1,950,000 in % 30 Chairman of the board² Actual remuneration in € in % 1,950,000 24 Fixed remuneration Fringe benefits Total Bonus 50,000 2,000,000 31 1 19,355 0.2 1,969,355 24 Board member 1st period of office³ Target remuneration in € in % 900,000 30 50,000 2 950,000 32 Board member 1st period of office³ Actual remuneration in € in % 900,000 24 50,000 1 950,000 25 Board member Board member 2nd period of office 4 Target remuneration in € in % 1,050,000 30 2nd period of office" Actual remuneration in € 1,050,000 in % 23 50,000 1,100,000 31 1 50,000 1,100,000 1 24 Earnings component 1,050,000 16 1,890,000 23 Performance component 1,050,000 16 1,113,000 14 475,000 16 475,000 16 855,000 22 503,500 13 575,000 16 575,000 16 1,035,000 23 609,500 14 Variable SbR (personal cash investment amount) remuneration ROCE component 1,175,000 18 2,115,000 26 550,000 18 Strategic focus target component 1,175,000 18 Total 4,450,000 69 Target total remuneration6/ Remuneration vesting year 20217 6,450,000 100 1,089,813 13 550,000 18 6,207,813 76 2,050,000 68 8,177,168 100 3,000,000 100 990,000 26 510,125 13 2,858,625 75 3,808,625 100 3,530,000 100 640,000 18 640,000 18 2.430,000 69 1,152,000 26 593,600 13 3,390,100 76 4,490,100 100 Contribution to the company pension scheme / Service cost³ 700,000 702,274 400,000 400,000 400,000 400,000 1 Simplified presentation. The target remuneration is set out on p. 277 et seqq. and the actual remuneration on p. 295 et seqq. of the BMW Group Report 2021. Due to rounding, it is possible that the percentages presented here may not be an exact reflection of the absolute values to which they relate. 2 Oliver Zipse. 3 Ilka Horstmeier, Milan Nedeljković, Frank Weber. 4 Start of fourth year of mandate. Pieter Nota, Nicolas Peter, Andreas Wendt (since Oct. 1st 2021). 5 Exemplary value (with exception of the actual remuneration for Oliver Zipse). 6 Excluding a contribution to the company pension scheme. Contributions to the pension scheme do not qualify as remuneration within the meaning of § 162 AktG, subsequent pension payments qualify as such. 7 The calculation of the total remuneration in the remuneration report in some cases includes, in accordance with § 162 AktG, variable remuneration components granted for earlier vesting years (performance cash plan 2019-2021, matching component 2016). 8 Exemplary value (with exception of the actual remuneration for Oliver Zipse). The service cost are not part of the remuneration according to § 162 AktG. They reflect the expense recognized by BMW and are not paid out to the board members. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -23-#24BMW AGM 2022. AGM-TOPICS. 1 2 General topics AGM - Format, interaction opportunities and agenda 3 Item 2 - Dividend 4 Item 6 - Elections to the Supervisory Board - Dr.-Ing. Hiesinger 5 Item 7 - Approval of the remuneration report 6 Item 8 - Authorisation of a Share buyback program BMW - Annual General Meeting 2022 - Investor presentation | April 2022 -24-#25ITEM 8 - PROPOSED BMW SHARE BUYBACK AUTHORISATION. STRINGENT CAPITAL MANAGEMENT AND SUSTAINED BUSINESS FOCUS ☐ BMW's Board of Management and Supervisory Board will seek an authorisation for a share buyback via the stock exchange at the AGM 2022 creating, amongst other topics, the option to improve its capital structure. The profitable business development in recent years resulted in a strong balance sheet, which reveals a healthy equity ratio and a solid level of net financial assets for the automotive segment. At the same time the BMW Group will continue to strategically invest in the transformation of its business, particularly in the further ramp-up of emissions-free mobility and digitalization thanks to its strong potential for further organic growth. Key parameters of authorisation Usage options - Allows to buyback BMW shares (BMW ordinary and/or BMW preferred shares) via the stock exchange up to 10% of the share capital over a 5-year period (authorisation will end 10th May 2027). - - - Can be exercised in its entirety or in several parts, once or several times, and in pursuit of one or several objectives. The BMW Group may repurchase and use either ordinary shares or preference shares or shares of both categories for the objectives granted. The purchase price paid (excluding ancillary costs) must not exceed or be less than 10% of the opening price at the XETRA trading system or a comparable successor system at the Frankfurt stock exchange at the purchase date. Cancellation of repurchased BMW shares, which would result in a reduction of the issued share capital and a relative improvement of certain KPIs, most importantly earnings per share (EPS). Re-issue of repurchased BMW shares to its employees as part of the BMW employee stock program. Usage of repurchased shares as consideration in-kind in case of company mergers, acquisitions of companies or equity investments. Repurchased BMW shares can be resold via the stock exchange or to all shareholders. In both cases an equal treatment of shareholders is guaranteed. BMW - Annual General Meeting 2022 - Investor presentation | April 2022 - 25-