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    INVESTOR PRESENTATION.

    August 2015

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    2 CORPORATE

    STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i9 P

    RODUCTIONN

    ETWORK

    CONTENT.

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

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    THE BMW GROUP REACHED A NEW RETAIL SALESRECORD IN Q2 2015.

    +4.9 %

    +23.8 %

    -7.7 %

    +11.3 %

    +7.5 %

    480,465

    91,626

    988

    47,048

    573,079

    BMW Group Investor Presentation, August 2015 Page 3

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    BMW Group Investor Presentation, August 2015 Page 4

    BMW GROUP ACHIEVES A STRONG SECOND QUARTER.

    Profit before tax - BMW GroupQ2-2015: 2,582 mn Q2-2014: 2,654 mn -2.7PBT margin: 10.8% PBT margin: 13.3% -2.5 pp

    EBIT - Automobiles

    Q2-2015: 1,819 mn Q2-2014: 2,161 mn -15.8EBIT margin: 8.4% EBIT margin: 11.7% -3.3 pp

    Revenues - BMW Group Change in %Q2-2015: 23,935 mn Q2-2014: 19,905 mn +20.2

    Deliveries to Customers (in units) - AutomobilesQ2-2015: 573,079 Q2-2014: 533,187 +7.5

    Revenues - AutomobilesQ2-2015: 21,650 mn Q2-2014: 18,504 mn +17.0

    Free Cash Flow - AutomobilesQ2-2015: 1,497 mn Q2-2014: 270 mn .

    EBT - Financial ServicesQ2-2015: 496 mn Q2-2014: 452 mn +9.7

    2014 numbers adjusted

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    BMW Group Investor Presentation, August 2015 Page 5

    BMW GROUP POSTS SOLID FIRST HALF-YEARRESULTS.

    Profit before tax - BMW GroupH1-2015: 4,851 mn H1-2014: 4,813 mn +0.8PBT margin: 10.8% PBT margin: 12.6% -1.8 pp

    EBIT - Automobiles

    H1-2015: 3,613 mn H1-2014: 3,741 mn -3.4EBIT margin: 8.9% EBIT margin: 10.7% -1.8 pp

    Revenues - BMW Group Change in %H1-2015: 44,852 mn H1-2014: 38,140 mn +17.6

    Deliveries to Customers (in units) - AutomobilesH1-2015: 1,099,748 H1-2014: 1,020,211 +7.8

    Revenues - AutomobilesH1-2015: 40,543 mn H1-2014: 35,063 mn +15.6

    Free Cash Flow - AutomobilesH1-2015: 2,557 mn H1-2014: 1,002 mn .

    EBT - Financial ServicesH1-2015: 1,055 mn H1-2014: 905 mn +16.6

    2014 numbers adjusted

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    OUTLOOK 2015 POSITIVE BUSINESS DEVELOPMENTDESPITE CHALLENGES.

    BMW Group

    Solid increase of BMW Group EBT compared to previous year.

    Automotive SegmentSolid increase in vehicle deliveries compared to previous year.

    Significant increase in revenues compared to previous year.

    EBIT margin in target range of 8-10%.

    Financial Services SegmentReturn on equity of at least 18%, on par with previous year.

    Motorcycle Segment

    Solid rise in deliveries compared to previous year.

    BMW Group Investor Presentation, August 2015 Page 6

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    +8.4%

    +9.7%

    +1.3%

    +9.5%

    BMW GROUP AUTOMOTIVE: BALANCED SALESDISTRIBUTION AND SOLID YTD 07/15 GROWTH +7.5%.

    Share ofglobalsales

    Source: BMW and MINI Retail Sales only, YTD July 2015 (figures may not add to 100% due to rounding)

    Growthrate

    MainlandChina

    Asia (w/o China)and Rest of World

    Americas Europe

    22%44%

    21% 13%

    BMW Group Investor Presentation, August 2015 Page 7

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    SUSTAINABILITY

    THE AUTOMOTIVE INDUSTRY WILL UNDERGO MASSIVECHANGES DURING THE UPCOMING 10 YEARS.

    DIGITALIZATION

    CARS ARE POWERED BYELECTRICITY

    CO2 SUSTAINABILITY HAS GAINEDGREATER SIGNIFICANCE

    CARS ARE DRIVING ALMOSTACCIDENT-FREE

    UTILIZATION CONCEPTS LIKE CAR-SHARING ARE WIDELY AVAILABLE

    CARS AS ELEMENTS WITHINTHE DIGITAL ECOSYSTEM

    HUMAN-MACHINE-INTERFACEBECOMES MORE INTUITIVE

    BMW Group Investor Presentation, August 2015 Page 8

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    CONNECTED CARS NEW PRODUCTS

    E-MOBILITYINNOVATIVE SERVICES

    BMW Group Investor Presentation, August 2015 Page 9

    CHANCES FOR BMW GROUP FOR FURTHER GROWTH.

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    EvolutionEfficient combustion engines

    Innovative technologies

    RevolutionAlternative drive trains

    Mobility services

    BMW Group Investor Presentation, August 2015 Page 10

    STRATEGY NUMBER ONE MANAGING THETECHNOLOGICAL CHANGE TO REMAIN FUTURE PROOF.

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    INNOVATIVE TECHNOLOGIES AND SERVICES TO MEETCHANGING CUSTOMER DEMANDS.

    Vehicle automation New BMW ConnectedDrive Store Touch Command

    Connected Mobility iDrive Controller Fully automated parking

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    CONTENT.

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

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    BMW GROUP STRATEGY NUMBER ONE ADDRESSESTHE MAIN CHALLENGES & BUILDS THE BASIS FORFUTURE SUCCESS.

    BMW Group Investor Presentation, August 2015 Page 13

    Growth

    Vision

    Competitive Advantage

    Values and Basic Principles

    Shaping the Future ProfitabilityAccess to

    Technologies andCustomers

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    STRATEGIC OBJECTIVE.

    We want to be the leading provider of premium products andpremium services for individual mobility.

    BMW Group Investor Presentation, August 2015 Page 14

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    DEFINITION OF PREMIUM.

    A Premium Product is a product or service that promises a strongersatisfaction of needs by special characteristics and thereby creates ahigher desirability which is used to realize a higher sales price in the market.

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    THE WAY AHEAD NUMBER ONE.

    Number ONE defines

    our vision for the year 2020. our mid-term targets for the year 2016.

    our internal milestones.

    Our vision is targeted towards creating value and securingfuture success. We are driven by our goal to increaseprofitability.

    Page 16

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    Internal CombustionEngine

    E-Mobility

    Hybrids

    In times of technological change we have to improve ourexisting technologies and invest heavily in newtechnologies to remain future proof.

    time

    Growth,technological

    progress

    Technological change

    REVOLUTIONAlternative drive trains

    Mobility services

    EVOLUTIONEfficient combustion engines

    Innovative technologies

    BMW Group Investor Presentation, August 2015 Page 17

    TECHNOLOGICAL CHANGE TURNING A CHALLENGEINTO AN OPPORTUNITY.

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    BMW Group Investor Presentation, August 2015 Page 18

    TARGETS 2016.

    BMW Group 2014 2016

    R&D ratio (cash R&D, %) 5.7 5.0 5.5

    Capex ratio (%) 7.6 2,000

    Return on Capital Employed (%) 61.7 > 26.0

    Return on Sales (EBIT, %) 9.6 8.0 10.0

    Free cash flow (euro million) 3,481 > 3,000

    Segment Financial Services

    Return on Equity (%) 19.4 > 18.0

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    E-mobility

    New materials

    New technologies

    Strong growth ofproduct portfolio

    Seizing newopportunities

    Profitability

    Standardisation

    Innovation

    Broader R&Dspectrum

    BMW Group Investor Presentation, August 2015 Page 19

    MANAGING VOLUME GROWTH, INNOVATION ANDPROFITABILITY THROUGH COST-CONSCIOUS,EFFICIENT R&D.

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    BMW Group Investor Presentation, August 2015 Page 20

    THE MODULAR STRATEGY IS THE ENABLER FOR THEEXPANSION OF THE BMW GROUP MODEL RANGE.

    Modular front seatCommon elements

    e.g.: Structure Head restraint

    Modular product

    Front seat attachmente.g.:

    Standardisedseat installationprocess

    Modular system

    Underbodye.g.:

    Front seatattachments

    Architectures

    Lower investment costsLower fixed costsLower manufacturing costs

    Shorter development timeShorter time to market

    Lower development costs

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    BMW architectures allow maximum differentiation between models in terms of designand dimensions and account for about 70% of all production cost.

    Engine compartment Drivetrain Rear

    BMW architecture = 3 core areas drivetrain, front wall and fuel/energyspace.

    BMW Group Investor Presentation, August 2015 Page 21

    COMMON ARCHITECTURE, NOT PLATFORMS.IN PREMIUM VEHICLES DIFFERENTIATION IS KEY.

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    Cylinders (inline) -3 -4 -6

    Gasoline >60 %

    Diesel >60 %

    30-4

    0%

    Common parts shared withingasoline or diesel engines

    is approx. 60%.

    Between the gasoline anddiesel engines there is a40% sharing.

    BMW Group Investor Presentation, August 2015 Page 22

    THE NEW BMW EFFICIENTDYNAMICS ENGINE FAMILYHIGH LEVELS OF COMMONALITY BETWEEN ANDWITHIN DIESEL AND GASOLINE ENGINES.

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    CustomerTreatment

    Product Genius

    Test Drives

    PoS.Digital

    ShowroomLayout / furniture

    Tools

    Retail HR MysteryShopping

    IntegratedDealer Support

    StockOptimization

    Stationary Formats(e.g. Brand Store)

    eRetailMyBMW

    BMW Group Investor Presentation, August 2015 Page 23

    FUTURE RETAIL AS BMW GROUPS HOLISTICAPPROACH TO ENHANCE RETAIL EXPERIENCE.

    http://www.bimmertoday.de/wp-content/uploads/MINI-Logo1.jpghttp://www.bimmertoday.de/wp-content/uploads/MINI-Logo1.jpghttp://upload.wikimedia.org/wikipedia/de/3/37/Bmw_i_logo.pnghttp://upload.wikimedia.org/wikipedia/de/3/37/Bmw_i_logo.png
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    BMW Group Investor Presentation, August 2015 Page 24

    IMPRESSIONS OF AN ENHANCED POINT OF SALE.ROLLED OUT TO 40 MARKETS BY END OF 2014.

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    Current Stationary Formats

    Brand Store Brand Experience Center Pop Up Stores City Sales Outlet

    Location: Incheon, Korea.

    Driving Center in Korea is thefirst one worldwide to combineboth a driving track and adedicated brand experience.

    Open since summer 2014.

    Location: UK.

    Six successful Pop Ups pilotedin the UK.

    Total visitors after half a year:236,000 visitors.

    Location: Rome, Italy.

    City Sales Outlet Rome openedon March 7th, 2014.

    400 sqm large showroomlocated on the central ViaBarberini.

    Location: Brussels, Belgium.

    Conversion of company ownedoutlet into Brand Store.

    Received Iconic Award 2014 inthe category Interior DesignRetail.

    PoC Brussels PoC RomePoC UK

    BMW Group Investor Presentation, August 2015 Page 25

    STATIONARY FORMATS FROM VISION TO REALITY.EXAMPLES OF NEW CONCEPTS.

    PoC Incheon

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    BMW Group Investor Presentation, August 2015 Page 26

    GROUP PILOTING END-TO-END ONLINE BUYINGEXPERIENCE: eRETAIL IN UK.

    Complete product range incl. BtO and BtS vehicles.

    Multi-channel experience covering online, CIC, Dealer.

    Personal consultation 7 days a week from 08:00 to 22:00 via live chat, eMail or

    phone. 9 Dealers in our pilot market UK. Start of national rollout in Q4 / 2015.

    End-to-end digital sales process incl.:

    Genius Live-Chat.

    Finding faster available stock cars.

    Trade-in of used vehicle.

    Financing and credit check.

    Online payment.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    CONTENT.

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

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    BMW Group Investor Presentation, August 2015 Page 28

    A REVOLUTION. PURPOSE BUILT.BMW i3 EXTERIEUR.

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    BMW Group Investor Presentation, August 2015 Page 29

    A REVOLUTION. PURPOSE BUILT.BMW i3 INTERIEUR.

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    BMW Group Investor Presentation, August 2015 Page 30

    A REVOLUTION. PURPOSE BUILT.BMW i3 INTERIEUR.

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    BMW Group Investor Presentation, August 2015 Page 31

    A REVOLUTION. PURPOSE BUILT.BMW i3 PROFILE & SPECIFICATIONS.

    MSRP starts at 34,950 EUR*

    Weight (DIN) 1,195kg

    Turning circle 9.86m

    Output 170hp/250NmBattery capacity 22kWh

    0-60km/h (37mph) in 3.7s

    0-100km/h (62mph) in 7.2s

    Top speed (cut-off) at 150km/h (93mph)

    Charging times from < 30min at 50 kW fast charge to ~8h at domestic socket

    Range up to 160km (100miles) electric driving @ customer,up to 200km (124miles) in most efficient mode

    * MSRP in Germany including 19% VAT

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    BMW Group Investor Presentation, August 2015 Page 32

    THE WORLDS MOST PROGRESSIVE SPORTS CAR:THE BMW i8.

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    BMW Group Investor Presentation, August 2015 Page 33

    THE BMW i8 REPRESENTS THE REVOLUTIONARY ANDFORWARD-THINKING PINNACLE OF EFFICIENTDYNAMICS.

    MSRP starts at 126,000 EUR*

    Weight (DIN) 1,485kgOutput 362hp/320Nm

    0-100km/h (62mph) in 4.4s

    Top speed (cut-off) 250km/h (155mph)

    Electric driving range 37km (23miles) @ NEDC

    Fuel consumption 2.1l/100km (112mpg) @ NEDC

    49g CO2/km @ NEDC

    * MSRP in Germany including 19% VAT

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    Generate growth Shaping the future

    New target groups.

    New products andservices.

    Technologies/customers

    Pioneeringtechnologies anddesign.

    Visionary services.

    New sales concepts.

    Number ONE

    Sharpen BMW imageas sustainable brand.

    Differentiation fromcompetition.

    Future-proof productportfolio.

    Growth

    Shaping the future

    Profitability

    Access to newtechnologies/customers

    BMW Group Investor Presentation, August 2015 Page 34

    STRATEGIC OBJECTIVES OF BMW i DERIVED FROMCORPORATE STRATEGY NUMBER ONE.

    http://www.bmw-i.com/en_ww/bmw-i3/the-lifedrive-architecture-of-the-bmw-i3-concept/74/http://www.bmw-i.com/en_ww/bmw-i3/the-lifedrive-architecture-of-the-bmw-i3-concept/74/
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    MINI E (2009-2012) BMW ActiveE (2011-2014)

    16 million kilometers~600 vehicles

    16 million kilometers~1,000 vehicles

    BMW i3 and BMW i8

    BMW i is more than just an electric car.

    BMW i offers 360 ELECTRIC.

    BMW i delivers joy of driving.

    Adequate vehicle.

    High interest of purchase.

    Joy of driving and one-pedal-feeling.

    High satisfaction of mobility needs.

    Range was rarely the limiting factor.

    Most users charge 2-3 times per week andcharging events decreased during usage.

    OVER 32 MILLION ELECTRIC KILOMETERS WITH REALUSERS OF THE MINI E AND BMW ActiveE LEADING UPTO BMW i.

    BMW Group Investor Presentation, August 2015 Page 35

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    INTEGRATED APPROACH OF BMW i

    New Processes New CustomersEmployees

    New ElectricDrivetrain

    New VehicleConcepts

    Production Conceptof the Future

    New Materialsand Recycling

    Pioneering Design

    BMW i PRODUCT STRATEGY.REDEFINING THE AUTOMOTIVE VALUE CHAIN.

    BMW Group Investor Presentation, August 2015 Page 36

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    FLEXIBLE MOBILITYA new mobile lifestyle

    PUBLIC CHARGINGOn the road

    HOME CHARGINGConvenient charging at home

    ASSISTANCE SERVICESProvide assurance

    360ELECTRIC.

    BMW Group Investor Presentation, August 2015 Page 37

    BMW i WILL PROVIDE FLEXIBLE MOBILITY.

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    BMW Group Investor Presentation, August 2015 Page 38

    SUSTAINABLE PRODUCTION FOR BMW i3 AND i8.BENCHMARK IN THE AUTOMOTIVE INDUSTRY.

    100% renewable energy -70% water consumption-50 % energy consumption

    More than 50% less Global Warming Potential (CO2e) acrossits entire product life cycle if electricity origins from renewable sources

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    Press shop Paint shopBody shop Assembly

    Conventional vehicle production

    BMW i production Total production processing time reduced by ~50% ~50% less storage space requirements Number of components in the body shop reduced by 1/3 to ~130 No painting of full body, no anti-corrosion needed

    BMW plantLeipzig

    BMW plantsDingolfing & Landshut

    Body shop

    CFRP parts

    Externallysourced parts

    Assembly

    Painted plasticcladding exterior

    Drive module

    NEW PRODUCTION CONCEPT. NO PRESS SHOP.PAINTING OF THE EXTERIOR PLASTIC PARTS ONLY.

    BMW Group Investor Presentation, August 2015 Page 39

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    Preform CFRP-components

    BMW i3 & i8

    The production of CFRP components is our core competence preforming, Resin-Transfer-Moulding (RTM), milling andtempering is all done in the BMW Group plant in Landshut.Painting and final assembly is done in the BMW Group plant inLeipzig.

    BMW GROUP

    JV MSP*,Otake/Japan

    Mitsubishi Rayon Co. Ltd.(MRC), Otake/Japan (Steam) Cracking Ammoxidation

    Acrylonitrile

    Polymerisation / Spinning

    SGL ACF,Moses Lake/USA

    Oxidation Carbonisation

    PAN-Precursor

    SGL ACF,Wackersdorf/Germany

    Knitting

    Carbon Fibers

    *) Joint Venture Mitsubishi Rayon SGL Precursor Co. Ltd. (MSP)

    CF

    Fabrics

    Recycling

    SGL Automotive Carbon Fibers a BMW Group and SGL Group JV

    BMW Group Investor Presentation, August 2015 Page 40

    CARBON FIBER PRODUCTION CORE COMPETENCE WITHIN BMW GROUP.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    CONTENT.

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

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    265

    231

    169

    79

    125

    44 41 3928 26 24

    0

    50

    100

    150

    200

    250

    300

    MainlandChina

    USA Germany* UK BRIKT** France Italy Japan Belgium Nordics*** Canada

    COMBINED BRIKT SALES ARE WITHIN THE TOP 5MARKETS FOR BMW GROUP YTD 2015.

    *Germany: Registrations; **BRIKT: Brazil, Russia, India, South Korea and Turkey*** Nordics: Denmark, Estonia, Finland, Latvia, Lithuania, Norway, Sweden

    Source: BMW & MINI Retail data, YTD July 2015

    in 1,000 units

    BMW MINI

    BMW Group Investor Presentation, August 2015 Page 42

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    0

    5

    10

    15

    20

    25

    30

    2008 2009 2010 2011 2012 2013 2014 YTD2014

    YTD2015

    0

    5

    10

    15

    20

    25

    30

    35

    40

    45

    50

    2008 2009 2010 2011 2012 2013 2014 YTD2014

    YTD2015

    0

    2

    4

    6

    8

    10

    12

    20 08 20 09 2010 2011 2012 2013 20 14 YTD2014

    YTD2015

    0

    510

    15

    20

    25

    30

    35

    40

    45

    50

    2008 2009 2010 2011 2012 2013 2014 YTD2014

    YTD2015

    0

    2

    4

    6

    8

    10

    12

    14

    16

    18

    20

    2008 2009 2010 2011 2012 2013 2014 YTD2014

    YTD2015

    0

    20

    40

    60

    80

    100

    120

    140

    160

    2008 20 09 20 10 2011 20 12 2013 20 14 YTD2014

    YTD2015

    MINI

    Retail development in Brazil Retail development in Russia

    Retail development in India Retail development in South Korea Retail development in Turkey

    BRIKT MARKETS BMW AND MINI RETAILDEVELOPMENT YTD 2015.

    In 1,000 units BMW

    Source: BMW & MINI Retail data, YTD July 2015

    Retail development in BRIKT

    40 45

    7099

    110

    3

    6

    10

    1517

    10

    1917

    22

    30

    4540

    34

    6

    9

    8

    1046

    10 11

    19

    27

    4034

    27

    57

    13

    17

    22

    17

    9

    37

    7

    131

    72 79 9

    17135

    2318

    3 3

    26

    31

    11

    17

    BMW Group Investor Presentation, August 2015 Page 43

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    30.0

    25.1

    20.6

    12.511.8 11.3 11.2

    8.2 7.9

    6.0

    4.4

    2.6

    0

    5

    10

    15

    20

    25

    30

    35

    Germany UnitedKingdom

    Italy France USA S. Korea Turkey Russia China Japan Brazil India

    PREMIUM SEGMENT SHARE OF TOTAL MARKET 2014.

    in %

    World Average: 10.3%

    Source: Global Insight 04/2015. Premium definition: Premium including Luxury excluding Near-Premium.BMW Group Investor Presentation, August 2015 Page 44

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    0

    2,000

    4,000

    6,000

    8,000

    10,000

    12,000

    14,000

    2014 2015 2016 2017 2018 2019 2020 2021

    China, CAGR +7.8%

    Japan, CAGR -0.3%

    North America, CAGR +3.6%

    Western Europe, CAGR +2.9%

    Rest of World, CAGR +5.8%

    Premium Segment:CAGR 2014-2020: +4.6%Total Growth 2014-2020: 31%

    *BRIKT refers to Brazil, Russia, India, South Korea and Turkey

    BRIKT*, CAGR +6.6%

    Source: Global Insight 04/2015.

    GLOBAL ANNUAL PREMIUM SEGMENT SALES AREEXPECTED TO GROW TO 11.7 MN UNITS BY 2020.

    BMW Group Investor Presentation, August 2015 Page 45

    Region (000units)

    2014 2020 Chg.

    World 8,907 11,689 31%

    Rest of World 805 1,128 40%

    BRIKT* 707 1,036 47%

    China (Mainland) 1,830 2,869 57%

    Japan 314 309 -1%

    North America 2,169 2,688 24%

    Western Europe 3,083 3,659 19%

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    13.8 21.0 30.746.8

    115.3138.2

    185.3 192.2 180.1

    106.3 101.8

    22.630.6

    35.243.7

    53.7

    94.4

    141.2

    198.5

    275.9

    155.7 163.5

    0

    50

    100

    150

    200

    250

    300

    350

    400

    450

    500

    2006 2007 2008 2009 2010 2011 2012 2013 2014 2014 YTD 2015 YTD

    JV sales Import

    62% 59% 53% 48% 32% 61%41% 43%Share of JV Sales

    BMW AND MINI RETAIL DEVELOPMENTIN MAINLAND CHINA, YTD 2015.

    36.451.6

    65.890.5

    169.0

    232.6

    326.4

    Source: BMW Group Retail data, YTD July 2015

    in 000 units

    390.7

    456.0

    51% 59% 62%

    261.9 265.2

    BMW Group Investor Presentation, August 2015 Page 46

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    1 series: 3.0%

    MINI: 6.3%

    X1: 8.7%

    X6: 1.2% 5 series: 34.3%

    4 series: 1.1%

    X3: 6.1%

    Source: BMW & MINI Retail data, June 30, 2015

    X5: 7.2%

    3 series: 24.0%

    X4: 2.6%

    Z4: 0.1%

    6 series: 0.1%

    7 series: 3.3%

    2 series: 1.9%

    BMW Group Investor Presentation, August 2015 Page 47

    BMW AND MINI RETAIL MIX IN MAINLAND CHINA AS OFJUNE 30, 2015.

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    * 4S: sales, service, spare parts, survey,5S: sales, service, spare parts, survey, sustainability

    Outlet BMW MINIEast 103 23North 89 26South 106 24Southeast 72 15West 95 21Total 465 109

    Showroom

    Service

    4S/5S*

    UCCBMW Group Investor Presentation, August 2015 Page 48

    465 BMW AND 109 MINI DEALER OUTLETS INOPERATION BY JUNE 30, 2015.

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    0

    500,000

    1,000,000

    1,500,000

    2,000,000

    2,500,000

    3,000,000

    3,500,000

    2006 2014 2020E

    CHINA PREMIUM SEGMENT DEVELOPMENT.

    annual growth rate+35%

    2,869

    1,830

    170

    With this development, China will remainthe biggest market for the BMW Group worldwide.

    in 000 units

    Source: Global Insight 04/2015.

    CAGR 2014-2020: 7.8%

    BMW Group Investor Presentation, August 2015 Page 49

    C O O S CC SS S O

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    BMW BRILLIANCE AUTOMOTIVE A SUCCESS STORYWITH GROWING REVENUE AND EARNINGSCONTRIBUTION.

    31 35 44 54

    94

    141

    199

    276

    133 142

    0

    50

    100

    150

    200

    250

    300BBA retail sales in 1,000 units

    BBAs contribution to BMW Groups at-equityresult (in EUR million)

    11 2542

    102175

    280

    411

    658

    428

    284

    0

    100

    200

    300

    400

    500

    600

    700

    293 406532

    1,046

    1,729

    2,962

    3,588

    4,417

    2,160 2,352

    0

    1,000

    2,000

    3,000

    4,000

    5,000

    BMW Group revenues from goods and servicessold to BBA (in EUR million)

    BMW Group Investor Presentation, August 2015 Page 50

    CONTENT

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    CONTENT.

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    THREE AUTHENTIC PREMIUM BRANDS

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    BMW Group Investor Presentation, August 2015 Page 52

    THREE AUTHENTIC PREMIUM BRANDS.

    Sheer drivingpleasure

    The worlds most excitingpremium small car brand

    The pinnacle ofautomobile luxury

    DELIVERIES TO CUSTOMERS 2015 YTD

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    Deliveries of automobiles (in units) July 2015 YTD July 2014 YTD Change in %

    Total BMW 1,079,563 1,025,936 +5.2

    1 series 100,291 111,401 +43.02 series (incl. Active Tourer) 78,872 13,859

    3 series (incl. GT) 254,432 275,250+3.7

    4 series 90,565 57,295

    5 series (incl. GT) 199,834 223,609 -10.6

    6 series 12,576 14,769 -14.8

    7 series 21,771 29,839 -27.0

    X1 65,793 91,403 -28.0

    X3 76,569 93,541 -18.1

    X4 32,251 1,648 -

    X5 100,931 79,544 +26.9

    X6 25,773 20,161 +27.8Z4 5,121 6,965 -26.5

    BMW i 14,784 6,652 -

    Total MINI 191,355 156,182 +22.5

    Total Rolls-Royce 2,035 2,269 -10.3

    BMW Group 1,272,953 1,184,387 +7.5BMW Group Investor Presentation, August 2015 Page 53

    DELIVERIES TO CUSTOMERS 2015 YTD.

    BMW GROUP AUTOMOTIVE MAJOR MARKETS

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    BMW Group Investor Presentation, August 2015 Page 54

    BMW GROUP AUTOMOTIVE MAJOR MARKETS.DELIVERIES TO CUSTOMERS 2015 YTD.

    Deliveries of automobiles (in units) July 2015 YTD July 2014 YTD Change in %Mainland China 265,215 261,919 +1.3

    USA 231,044 213,754 +8.1

    Germany1) 169,066 160,213 +5.5

    United Kingdom 124,935 108,372 +15.3

    BRIKT2) 78,770 71,839 +9.6

    France 44,017 36,631 +20.2

    Italy 41,334 37,899 +9.1

    Japan 38,603 34,550 +11.7

    Belgium 27,714 25,432 +9.0

    Nordics3) 26,333 24,117 +9.2

    Canada 23,785 20,977 +13.4

    Rest of world 202,137 188,684 +7.1

    BMW Group 1,272,953 1,184,387 +7.51)Registrations 2)BRIKT: Brazil, Russia , India, South Korea and Turkey; 3)Nordics: Denmark, Estonia, Finland, Latvia, Lithuania, Norway, Sweden

    Data for individual markets include BMW and MINI vehicles; Rolls Royce and differences between Retail Sales and registrations are included in Rest of World and total figures.

    DELIVERIES TO CUSTOMERS FY 2014

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    Deliveries of automobiles (in units) FY-2014 FY-2013 Change in %

    Total BMW 1,811,719 1,655,138 9.5

    1 series 190,033 213,611 8.22 series 41,038 -

    3 series (incl. GT) 480,214 500,64316.4

    4 series 119,580 14,763

    5 series (incl. GT) 373,053 366,992 1.7

    6 series 23,988 27,687 -13.4

    7 series 48,519 56,001 -13.4

    X1 156,471 161,353 -3.0

    X3 150,915 157,303 -4.1

    X4 21,688 - -

    X5 147,381 107,231 37.4

    X6 30,244 36,688 -17.6Z4 10,802 12,866 -16.0

    BMW i 17,793 - -

    Total MINI 302,183 305,030 -0.9

    Total Rolls-Royce 4,063 3,630 11.9

    BMW Group 2,117,965 1,963,798 7.9BMW Group Investor Presentation, August 2015 Page 55

    DELIVERIES TO CUSTOMERS FY-2014.

    BMW GROUP AUTOMOTIVE MAJOR MARKETS

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    Deliveries of automobiles (in units) FY-2014 FY-2013 Change in %Mainland China 455,979 390,713 16.7

    USA 395,850 375,782 5.3

    Germany1) 273,433 268,838 1.7

    United Kingdom 204,749 188,837 8.4

    BRIKT2) 134,901 131,447 2.6

    France 67,449 64,082 5.3

    Japan 64,016 64,216 -0.3

    Italy 63,392 59,200 7.1

    Belgium 45,005 43,255 4.0

    Nordics3) 41,408 37,072 11.7

    Canada 38,188 37,723 1.2

    Rest of world 333,595 302,633 10.2

    BMW Group 2,117,965 1,963,798 7.91)Registrations 2)BRIKT: Brazil, Russia , India, South Korea and Turkey; 3)Nordics: Denmark, Estonia, Finland, Latvia, Lithuania, Norway, Sweden

    Data for individual markets include BMW and MINI vehicles; Rolls Royce and differences between Retail Sales and registrations are included in Rest of World and total figures.

    BMW Group Investor Presentation, August 2015 Page 56

    BMW GROUP AUTOMOTIVE MAJOR MARKETS.DELIVERIES TO CUSTOMERS FY-2014.

    REGIONAL RETAIL MIX YTD JULY 2015

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    Nordics: 2.1%

    Japan: 3.0%Canada: 1.9%

    USA: 18.2%

    Germany: 13.3%

    Mainland China: 20.9%

    BRIKT1): 6.2%

    Italy: 3.3%

    Rest of theWorld: 15.7%

    Belgium: 2.2%

    France: 3.5%

    1) BRIKT: Brazil, Russia, India, South Korea, Turkey

    Source: BMW and MINI Retail Sales only, YTD July 2015

    UK: 9.8%

    BMW Group Investor Presentation, August 2015 Page 57

    REGIONAL RETAIL MIX YTD JULY 2015.

    BMW RETAIL BY MODEL 2014 (2013)

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    190,033

    (213,611) 41,038

    480,214(500,643)

    119,580(14,763)

    373,053(366,992)

    23,988(27,687)

    48,519(56,001)

    156,471(161,353)

    150,915(157,303) 21,688

    147,381(107,231)

    30,244(36,688)

    10,802(12,866) 17,793

    1,811,719(1,655,138)

    1 Series 2 Series(incl.

    ActiveTourer)

    3 Series(incl. GT)

    4 Series 5 Series(incl. GT)

    6 Series 7 Series X1 X3 X4 X5 X6 Z4 BMW i

    (2.2%)

    10.5% 2.3% 26.5% 6.6% 20.6% 2.7% 8.6% 8.1%

    Total BMW Group sales: 2,117,965 (1,963,798) units.BMW brand share: 1,811,719 (1,655,138) unitsor 85.5% (84.3%) of total sales.

    (1.7%)

    (12.9%) (30.3%) (0.9%) (22.2%) (3.4%) (9.7%) (6.5%)

    1.3%

    (1.7%)

    8.3%

    (9.5%)

    1.2% 0.6%

    (0.8%)

    1% 100%

    (100%)

    BMW Group Investor Presentation, August 2015 Page 58

    BMW RETAIL BY MODEL 2014 (2013).

    MINI RETAIL BY MODEL 2014 (2013)

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    140,051(128,498)

    17,327(21,167)

    13,326(21,030)

    106,995(101,897)

    3,816(8,436)

    5,101(9,315)

    15,567(14,687)

    302,183(305,030)

    Hatch 3door /5door

    Convertible Clubman Countryman Coupe Roadster Paceman

    100%46.4% 5.7% 4.4% 35.4%(100%)(42.1%) (6.9%) (33.4%) (2.8%)

    234,175(216,538)

    Total BMW Group sales: 2,117,965 (1,963,798) units.MINI brand share: 305,030 (301,526) unitsor 14.3% (15.5%) of total sales.

    (4.8)1.7% 5.2%1.3%(3.1%)(6.9%)

    BMW Group Investor Presentation, August 2015 Page 59

    MINI RETAIL BY MODEL 2014 (2013).

    BMW GROUP RETAIL SALES INCREASED ON AVERAGE

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    in 1,000 units

    0

    200

    400

    600

    800

    1,000

    1,200

    1,400

    1,600

    1,800

    2,000

    2,200

    2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD July2015

    BMW MINI Rolls-Royce

    1,1051,209

    1,3281,374 1,436

    1,286

    1,461+9.4%+3.5%

    +9.2%-4.3%

    -10.4%

    +13.6%

    1,845+14.2%

    +9.9%

    +10.6%

    1,669

    1,964

    +6.4%

    1,500

    2,118

    +7.9%

    BMW Group Investor Presentation, August 2015 Page 60

    BMW GROUP RETAIL SALES INCREASED ON AVERAGEBY 6.3% SINCE 2003.

    +4.5%

    +7.5%

    1,273

    BMW GROUP BRAND AND PRODUCT OVERVIEW

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    MINI

    4 Series

    Sedan Wagon Hatch Coupe Convert. Roadster New Seg. SAV

    Plus

    Base

    Plus

    PlusPlus

    Base

    X77 Series6 Series /

    i86 Series

    Plus

    Base

    Luxury

    Compact

    LowerMedium

    Small

    Plus

    Base

    UpperMedium

    Base

    Plus

    PlusPlus

    Convert.Phantom Coupe

    Ghost

    3 Series 3 Series Z4 X3, X44 Series

    MINIMINI MINI

    1 Series /i3

    2 Series 2 Series2 S. Act./

    Gran T.

    X5, X65 Series 5 Series GT

    X1

    MINI

    6 Series

    GT, GC

    Wraith

    announced

    BMW Group Investor Presentation, August 2015 Page 61

    BMW GROUP BRAND AND PRODUCT OVERVIEW.

    PRODUCT ROADMAP 2015

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    Q1 Q2 Q3 Q4

    = M Models

    1 Series 5-door &3-door LCI

    X5 xDrive40e

    X12 series Gran Tourer

    X5 M

    X6 M

    7 Series6 Series & M6Convertible LCI*

    6 Series & M6Coup LCI*

    6 Series & M6Gran Coup LCI*

    MINI Clubman

    2 Series Convertible

    BMW Group Investor Presentation, August 2015 Page 62

    PRODUCT ROADMAP 2015.

    3 Series derivatives LCI

    MINI JohnCooper Works

    *6 Series vehicles shown here

    Luxury

    Compact/Small

    LowerMedium

    UpperMedium

    NEW PRODUCT 2015

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    Launch 02/2015

    BMW Group Investor Presentation, August 2015 Page 63

    NEW PRODUCT 2015.BMW 2 SERIES CONVERTIBLE.

    NEW PRODUCT 2015

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    BMW Group Investor Presentation, August 2015 Page 64

    NEW PRODUCT 2015.BMW 1 SERIES 5-DOOR LCI.

    Launch 03/2015

    NEW PRODUCTS 2015

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    NEW PRODUCTS 2015.6 SERIES LCIS COUP, CONVERTIBLE & GRAN COUP.

    BMW Group Investor Presentation, August 2015 Page 65

    Launch 03/2015

    NEW PRODUCTS 2015

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    NEW PRODUCTS 2015.BMW X5M AND X6M.

    BMW Group Investor Presentation, August 2015 Page 66

    Launch 03/2015

    NEW PRODUCT 2015

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    Launch 06/2015

    BMW Group Investor Presentation, August 2015 Page 67

    NEW PRODUCT 2015.BMW 2 SERIES GRAN TOURER.

    NEW PRODUCTS 2015

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    BMW Group Investor Presentation, August 2015 Page 68

    NEW PRODUCTS 2015.BMW X1.

    Launch 10/2015

    NEW PRODUCT 2015

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    BMW Group Investor Presentation, August 2015 Page 69

    NEW PRODUCT 2015.BMW 7 SERIES.

    Launch Q4/2015

    NEW PRODUCT 2015

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    BMW Group Investor Presentation, August 2015 Page 70

    NEW PRODUCT 2015.X5 eDRIVE.

    Launch H2/2015

    NEW PRODUCT 2015

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    BMW Group Investor Presentation, August 2015 Page 71

    NEW PRODUCT 2015.MINI CLUBMAN.

    Launch H2/2015

    CONTENT

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    CONTENT.

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    2015 MOTORCYCLE PRODUCT HIGHLIGHTS

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    2015 MOTORCYCLE PRODUCT HIGHLIGHTS.

    BMW R 1200 RS BMW S 1000 XR

    BMW R 1200 R BMW F 800 R

    BMW S 1000 RR

    BMW Group Investor Presentation, August 2015 Page 73

    SUCCESSFUL H1-2015 FOR BMW MOTORRAD WITH

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    SUCCESSFUL H1 2015 FOR BMW MOTORRAD WITHSTRONG INCREASE IN EARNINGS.

    BMW Group Investor Presentation, August 2015 Page 74

    In million H1-2015 H1-2014 Change in %

    Sales (units) 78,418 70,978 +10.5

    Revenues 1,189 1,000 +18.9

    Earnings before interests and taxes(EBIT)

    227 119 +90.8

    EBIT margin 19.1% 11.9% +7.2 pp

    Earnings before taxes (EBT) 226 117 +93.2

    BMW MOTORCYCLES RETAIL SALES 1990 H1-2015.

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    in 1,000 units

    BMW Group Investor Presentation, August 2015 Page 75

    BMW MOTORCYCLES RETAIL SALES 1990 H1 2015.

    31.3

    50.2

    74.6

    84.7

    92.6 93.0 92.3 97.5

    100.1 102.5 101.7

    87.398.0

    104.3 106.4

    115.2

    123.5

    78.4

    0

    20

    40

    60

    80

    100

    120

    140

    1990 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 H12015

    in 1,000 units

    DEVELOPMENT OF MARKET SHARE .

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    BMW Group Investor Presentation, August 2015 Page 76

    DEVELOPMENT OF MARKET SHARE .

    0.0%

    2.0%

    4.0%

    6.0%

    8.0%

    10.0%

    12.0%

    14.0%

    16.0%

    0

    200

    400

    600

    800

    1,000

    1,200

    1,400

    1,600

    2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    Total market>500cc BMW Market Sharein 1,000 units

    MOST IMPORTANT MARKETS FOR BMW

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    BMW Group Investor Presentation, August 2015 Page 77

    MOST IMPORTANT MARKETS FOR BMWMOTORCYCLES IN 2014.

    Germany

    United States

    Italy

    BrazilUnited Kingdom

    Other markets

    France

    Germany 17.6%

    United States 12.4%

    France 9.4%

    Italy 8.5%

    Brazil 6.1%

    United Kingdom 5.5%

    Spain 5.0%

    Other markets 35.5%

    Spain

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    CONTENT.

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    GLOBAL PRESENCE IN 54 COUNTRIES

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    BMW Financial Services

    MINI Financial Services

    As per June 30, 2015

    BMW Group Investor Presentation, August 2015 Page 79

    GLOBAL PRESENCE IN 54 COUNTRIESWITH 7,520 EMPLOYEES.

    SHIFTING CUSTOMER BEHAVIOR FROM OUTRIGHT

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    Loan & LeasePackages

    Outright Purchase

    Past (1950)

    Usage Offerings

    Future (2050)Status Quo (2010)

    + +

    29%

    Urbanization

    51%

    Urbanization

    69%

    Urbanization

    Financial Services Product & Service Offerings

    Loan & Full Service Lease Packages

    Fleet Management Solutions

    Connected & IntermodalMobility

    Flexible Solutions

    BMW / MINIFinancial Services

    The Ultimate Drive

    Source: Gtz & Partners; UNO Revision Population Database 2009BMW Group Investor Presentation, August 2015 Page 80

    SHIFTING CUSTOMER BEHAVIOR FROM OUTRIGHTPURCHASE TOWARDS FLEXIBLE USAGE OFFERINGS.

    PROFIT BEFORE TAX (PBT) FINANCIAL SERVICES.

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    1,092

    1,3511,437

    122

    439124

    345387 422

    452515

    605685

    743

    -292

    365

    1,214

    1,790

    1,5611,619

    1,723

    1,055

    -500

    -250

    0

    250

    500

    750

    1,000

    1,250

    1,500

    1,750

    2,000

    2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 H1-2015

    in euro million

    1) FY-08 EBT includes a negative effect of EUR 1,057 million from additional credit and residual value risk provisions.2) FY-10 EBT includes a positive effect of EUR 122 million from better than expected off-lease business.3) FY-11 EBT includes a positive effect of EUR 439 million from adjustment of residual value and credit risk provisions and a better than expected off-lease business.4) FY-12 EBT includes a positive effect of EUR 124 million from better than expected off-lease business.5)

    FY-13 figures adjusted in compliance with IAS 8.

    2)

    3)

    4)

    1)

    BMW Group Investor Presentation, August 2015 Page 81

    PROFIT BEFORE TAX (PBT) FINANCIAL SERVICES.

    5)

    RETURN ON EQUITY (ROE) FINANCIAL SERVICES.

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    Page 82

    U O QU ( O ) C S C S

    23.5%22.2%

    19.6%

    2.6%7.2%

    1.7%18.1%

    -7.3%

    9.2%

    26.1%

    29.4%

    21.2% 20.0% 19.4%

    -10%

    -5%

    0%

    5%

    10%

    15%

    20%

    25%

    30%

    35%

    2007 2008 2009 2010 2011 2012 2013 2014

    in %

    2)

    3)

    1) FY-08 RoE includes a negative PBT effect of EUR 1,057 million from additional credit and residual value risk provisions (adjusted RoE: 19.2%).2) FY-10 RoE includes a positive PBT effect of EUR 122 million from better than expected off-lease business.3) FY-11 RoE includes a positive PBT effect of EUR 439 million from adjustment of residual value and credit risk provisions and a better than expected off-lease business.4) FY-12 RoE includes a positive PBT effect of EUR 124 million from better than expected off-lease business.5) FY-13 figures adjusted in compliance with IAS 8.

    4)

    1)

    5)

    BMW Group Investor Presentation, August 2015

    PENETRATION RATE RETAIL BUSINESS.

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    13.6%17.8% 17.8% 19.2% 19.5% 17.1% 17.2% 17.4%

    20.9%24.7%

    24.1% 20.0% 20.7% 22.5% 20.8% 23.9%

    20.9%

    17.2% 18.3%19.1%

    22.5%24.0% 25.2%

    27.2%

    27.6%

    24.3% 24.1%

    21.1% 19.7%

    21.5%20.9%

    21.2%

    0%

    5%

    10%

    15%

    20%

    25%

    30%

    35%

    40%

    45%

    50%

    55%

    2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 H1-2015

    Financing Leasing

    34.5% 35.0%36.1%

    38.3%

    42.0% 41.1%42.4%

    48.5%

    44.6%

    49.0%

    41.1%

    48.2%

    * The penetration rate dropped significantly due to the consolidation of BMW Group Financial Services China as of January 1st, 2011.

    *

    40.4%

    44.0%

    41.7%

    BMW Group Investor Presentation, August 2015 Page 83

    45.1%

    DEVELOPMENT OF CREDIT LOSS RATIO.

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    0.54%

    0.46%

    0.41%

    0.37%

    0.41%

    0.46%

    0.59%

    0.84%

    0.67%

    0.49%0.48%

    0.46%0.50%

    0.34%

    0.3%

    0.4%

    0.5%

    0.6%

    0.7%

    0.8%

    0.9%

    2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 H1-2015

    BMW Group Investor Presentation, August 2015 Page 84

    RESIDUAL VALUE DEVELOPMENT IN THE USA.

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    BMW Group Investor Presentation, August 2015 Page 85

    Source: Manheim Used Vehicle Index, mix and mileage adjusted.

    70

    75

    80

    85

    90

    95

    100

    105

    110

    115

    120

    Jan-0

    6

    Apr-06

    Jul-06

    Oct-06

    Jan-07

    Apr-07

    Jul-07

    Oct-07

    Jan-0

    8

    Apr-08

    Jul-08

    Oct-08

    Jan-0

    9

    Apr-09

    Jul-09

    Oct-09

    Jan-1

    0

    Apr-10

    Jul-10

    Oct-10

    Jan-11

    Apr-11

    Jul-11

    Oct-11

    Jan-1

    2

    Apr-12

    Jul-12

    Oct-12

    Jan-1

    3

    Apr-13

    Jul-13

    Oct-13

    Jan-14

    Apr-14

    Jul-14

    Oct-14

    Jan-15

    Apr-15

    Jul-15

    BMW brand used car index (through July 2015)

    STRATEGIC FUTURE OF FINANCIAL SERVICES.

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    BMW Group Investor Presentation, August 2015 Page 86

    EXTENSION OFEU BANK

    INTEGRATION OFING CAR LEASE

    STRATEGICFOCUS AREAS

    Customer Interface

    Deposit Business integrated inBMW Group Financing Strategy

    Improved Liquidity Steering

    Open Market Access to ECB

    Rapid integration process

    Customer & employee retention

    Business continuity andmarket share secured

    # Unternehmen Unternehmen Unternehmen

    1 LeasePlan LeasePlan LeasePlan

    2 Arval Arval Arval

    3 ALD ALD ALD

    4 PSA F in an ce PSA F in ance ALPHABET

    5 VW Leasing ALPHABET PSA Finance

    6 GE Capital VW Leasing VW Leasing

    7 RCI Banque GE Capital RCI Banque

    8 ING CARLEASE RCI Banque GE Capital

    9 ALPHABET Athlon Athlon

    10 Athlon Daimler Fleet Daimler Fleet

    Vor der Transaktion Nach der Transaktion Ende 2012Before transaction After transaction End of 2013

    Growth & Complexity

    Company CompanyCompany21,62,2

    2,91,07,4

    8,1

    EU Bank

    Volume in bn. EUR

    Target Operating Model

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    SUSTAINABLITYMOBILE GENERATIONCENTER OF COMPETENCE URBAN MOBILITY:

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    SUSTAINABLITYMOBILE GENERATIONIMPLEMENTING SUSTAINABLE URBAN MOBILITY TOGETHER WITH ALL STAKEHOLDERS.

    Residents & their needs BMW i electric cars

    (eCar) infrastructureCities

    BMW Group Investor Presentation, August 2015 Page 88

    BMW MOBILITY SERVICES PORTFOLIO AIMING AT NEW

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    Securinginnovationand acceleration

    Information andintermodalrouting

    ParkingFlexible Use

    DriveNow

    Alphacity

    Park@myHouse

    ParkNow MyCityWay BMW i Ventures

    BMW Group Investor Presentation, August 2015 Page 89

    CUSTOMER GROUPS.

    DriveNow. PREMIUM, FREE FLOATING CAR SHARING

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    Page 90

    ,SERVICE FROM BMW GROUP & SIXT.

    400,000+ customers in 8 cities

    DriveNow Customers areBMW Groups

    youngest &most moderntarget group

    3 100+ carsPage 90BMW Group Investor Presentation, August 2015

    http://de.wikipedia.org/wiki/Datei:Flag_of_Germany.svghttp://de.wikipedia.org/wiki/Datei:Flag_of_Germany.svg
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    DriveNow ALSO OPENS THE WAY FOR E-MOBILITY ANDTHE BMW i3

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    THE BMW i3.

    100,000+ActiveE customer drives

    Introducing

    3,000+customers to

    E-Mobility/ month

    i3

    intregrationin fleets in 2015

    BMW Group Investor Presentation, August 2015 Page 92

    DriveNow BRIDGES THE GAP BETWEEN YOUNG CARUSERS AND PREMIUM CAR BUYERS

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    More young people between moving outand family creation do not own a car.

    70%

    75%

    80%

    85%

    90%

    95%

    100%

    0-2

    3-5

    6-8

    9-11

    12-14

    15-17

    18-20

    21-23

    24-26

    27-29

    30-32

    33-35

    1998

    2008

    DriveNow target group

    18 30

    Car demand

    Customer age

    Premium upper class

    Premium middle class

    Premium compactSmall car

    DriveNow

    Direct access

    40 50 60

    Key benefits of BMW Groups car sharing programme DriveNow : DriveNow has modern users DriveNow offers access to young users which can be converted to potential customers DriveNow offers contact to a customer group that later switches from usage to ownership DriveNow offers insights into customer behavior

    DriveNow customers are 10 years younger than MINIcustomers.

    Shareofperson

    swithacarperhoushold

    Age in years

    BMW Group Investor Presentation, August 2015 Page 93

    USERS AND PREMIUM CAR BUYERS.

    BMW i VENTURES. BEST OF BOTH WORLDS GAINACCESS TO NEW TECHNOLOGIES AND CUSTOMER

    http://www.appguide.de/local-apps/muenchen/787-drivenow.htmlhttp://www.appguide.de/local-apps/muenchen/787-drivenow.html
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    Page 94

    ACCESS TO NEW TECHNOLOGIES AND CUSTOMERGROUPS.

    45 incubatorworkspaces

    1,000 +mobility servicesstartups screened

    Quarterly meet ups with

    around100 guestsfrom ventures scene

    Page 94BMW Group Investor Presentation, August 2015

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    BMW GROUP GLOBAL PRODUCTION NETWORK.

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    Moses Lake

    Spartanburg

    Shenyang (Tiexi, Dadong)

    RayongChennai

    Kulim

    Jakarta

    RosslynSanta Catarina (2014)

    Manaus

    Vehicle Plant

    Assembly Plant

    Engines / Components

    BMW Group

    Joint Venture

    Contract Production

    Cairo

    RegensburgDingolfing

    BerlinEisenach Leipzig

    Wackersdorf

    LandshutMunich

    Kaliningrad

    Born(2014)

    Steyr

    Graz

    Hams HallOxfordSwindon

    Goodwood

    San Luis Potos (2019)

    BMW Group Investor Presentation, August 2015 Page 96

    AUTOMOBILE PRODUCTION BY PLANT IN 2014.

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    Dingolfing, GermanyProduction of BMW 3, 5, 6, 7 Series

    369.0Goodwood, UKProduction of Rolls-Royce

    4.5

    Spartanburg, USAProduction of BMW X3, X4,X5, X6

    349.9Tiexi1, ChinaProduction of BMW 3 Series , X1, Zinoro 144.4

    Regensburg, GermanyProduction of BMW 1, 3,4 Series, Z4

    272.0Dadong1, ChinaProduction of BMW 5 Series LWB 143.4

    Munich, GermanyProduction of BMW 3, 4 Series 228.1

    Graz (Magna Steyr)2, AustriaMINI Countryman, MINI Paceman 113.4

    Leipzig, GermanyProduction of BMW 1,2 Series, X1, i3,i8

    211.4Born (VDL Nedcar)2

    MINI Hatch29.1

    Oxford, UKProduction of MINI 179.3 Assembly plants 52.3

    Rosslyn, South AfricaProduction of BMW 3 Series

    68.8

    in 1,000 units

    Dingolfing

    Regensburg

    OxfordLeipzig

    Munich

    Spartanburg

    RosslynDadong1

    Tiexi1

    Graz2

    Assembly Plants

    1 Joint venture 2 Contract production

    Born

    BMW Group Investor Presentation, August 2015 Page 97

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    THE BMW GROUPS CLEAN PRODUCTION PHILOSOPHY.MORE THAN CLASSICAL ENVIRONMENTAL

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    Certified environmental management systems (ISO 14001/EMAS) at all sites worldwide

    Target: 45% reduction in emissions/resource usage 2006 2020

    Average improvement in resource efficiency in 2014 compared to 2013: 6.7%

    Reducing water usageand processwastewater

    Saving energy andreducing CO2

    emissions

    Reducing SolventEmissions

    Avoiding or recyclingwaste

    MORE THAN CLASSICAL ENVIRONMENTALMANAGEMENT.

    BMW Group Investor Presentation, August 2015 Page 99

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    SUSTAINABILITY AT THE BMW GROUP.

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    Page 101

    First environmental manager in the automotive industry.

    Establishment of a Sustainability Circle and Board.Corporate sustainability is declared as corporate target.

    Executive Board resolution Sustainability is the guiding

    principle of the BMW Groups corporate strategy.

    1973

    2000

    2009

    TOP RATINGS Dow Jones Sustainability Indexes:

    BMW Group is the only automobilemanufacturer that has beencontinuously listed, Sector Leader 2014.

    Carbon Disclosure Project: Industry leader

    2011, 2012, 2013, 2014. FTSE4Good: Listed in the FTSE4Good

    Index.

    Oekom: Corporate Responsibility Ratingoekom, Status: Prime.

    Sustainalytics:Ranked No. 1 in the DAX 30 Sustainalytics

    (no update since 2011).

    BMW Group Investor Presentation, August 2015

    OUR ASPIRATION: SUSTAINABILITY LEADERSHIP.

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    BMW Group Investor Presentation, August 2015 Page 102

    OUR GOAL: Being the most sustainable and successful premium provider, theBMW Group shapes the individual mobility of the future, thus creating an addedvalue for customers, company and society.

    OUR APPROACH: Our innovations benefit not only our customers, but alsosociety. Because we know: By acting in a sustainable manner, we make ourbusiness model viable for the future, and ensure our companys growth in thefuture.

    FOR US, IT IS NOT SUFFICIENT TO FULFILL THE REQUIREMENTS. WE ARE TAKING THE LEAD.

    ANCHORING & MANAGING SUSTAINABILITY.

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    BMW Group Investor Presentation, August 2015 Page 103

    Sustainability Board Comprises the entire Board of Management Chair: Chairman of the Board of Management BMW Group Responsible for strategic direction

    Sustainability Circle Comprises representatives from all divisions Chair: Head of Sustainability and Environmental Protection Responsible for decision recommendations

    Divisions Implementing sustainability targets by initiating appropriate

    measures

    pays into

    Division Targets

    Agreed objectives andset of measures for

    sustainability

    Division Targets

    Agreed objectives andset of measures for

    sustainability

    Division Targets

    Agreed objectives andset of measures for

    sustainability

    BSC BMW Group

    Sustainable management is a corporatetarget and anchored in the BMW GroupsBalanced Scorecard

    P e r spe k tiv e / S tra te gis c he Stor ic htung A ns pr uc hMessgre

    (LangfristigeSteuerung)

    Finanzen

    Shareholder ValueAddedPKW: Operatives Ergebnis - Abweichungzur

    5%-LinieMotorrad: Operatives Ergebnis -

    Abweichungzur5%-Linie

    SF: Ergebnis vorSteuernAbweichungzur10%-LinieFreeCashflow

    RoCEKonzern

    PKW: ROCE

    Motorrad: ROCE

    SF: RoESoftlab: Umsatzrendite

    MinimalenKapitaleinsatzerreichen Investitionsquote

    Lernen &Entwicklung

    BMW Arbeitskostenim VergleichzumWettbewerb(Index)

    ErfolgsabhngigeVergtung(%-Anteilam

    Personalaufwand)FlexiblePersonalkapazitt(%-AnteilanGesamtkapazittauf GroupEbene)

    BedarfsgerechteKompetenzenbereitstellen

    Zudefinieren: Festlegungim RahmenderInitiative24

    ExzellenteFhrungsicherstellenZudefinieren: Festlegungim RahmenderInitiative25

    ESI

    Attraktivittam Arbeitsmarkt

    R a n gp l a tzi n I m a ge u m fra g en A K

    Erfllungsgraddes BMW GroupProfils AKMeinungsfhrerschaft AK

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    AbbildunginGeschftsfeldern

    GesellschaftlichgeschtzterPartnersein

    TotalShareholder Return

    WettbewerbsfhigenPersonalaufwanderreichen

    Als attraktiverArbeitgeber betrachtet

    werden

    KorrespondierendekurzfristigeMessgre;

    Linkzu jahrlichemZMP(bei Abweichung von

    langfristigerMessgresieheKlammer)Ziellenker/ Zielnehmer

    Unternehmenswert steigern

    HoheRentabilitterreichen

    Wachstum ProduktivittShareholderValue

    Lernen&Entwicklung

    Finanzen

    Geschfts-prozesse

    Kunden

    Wachstum ProduktivittShareholderValue

    Lernen&Entwicklung

    Finanzen

    Geschfts-prozesse

    Kunden

    W a ch s tu m P r od u kt ivittShareholderValue

    Lernen&Entwicklung

    Finanzen

    Kunden

    Geschfts-prozesse

    W a ch s tu m P r od u kt ivittShareholderValue

    Lernen&Entwicklung

    Finanzen

    Kunden

    Geschfts-prozesse

    INTEGRATION OF SUSTAINABILITY IN THE BMW GROUPS STRUCTURES AND PROCESSES

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    CO2 LEGISLATION IN MAJOR MARKETS.

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    -12%2015

    -30%2020

    New vehicle fleet 2008 EU 27

    - 38 %

    2020

    -22%2015

    USA339g/mi (212g/km)

    -26%

    2016

    2021

    China

    approx.

    -12%2015

    approx.

    -36%2020

    Japan

    Illustration

    154g/km

    n. a.

    14.2km/l (166g/km)**

    ** Consideration of test-cyclechange to JC08

    250g/mi (156g/km)

    120g/km

    95g/km

    -52%2025

    163g/mi (102g/km)

    * under discussion

    Prognosis Fixed target

    6.9l/100km (164g/km)

    5.0l/100km* (119g/km)

    16.3km/l (146g/km)

    20.3km/l (117g/km)

    Fleet objectives require a global reduction in CO2 emissions. Regional objectives are not directly comparable due to differences in vehicle portfolio (market demand) and

    test-cycles/procedures.BMW Group Investor Presentation, August 2015 Page 105

    FUTURE CO2 TARGETS CAN ONLY BE ACHIEVED WITHTHE HELP OF NEW DRIVETRAIN TECHNOLOGIES

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    Today Tomorrow

    Lower CO2 emissions Zero emissions

    Improved combustionengines

    Aerodynamics

    Lightweight construction

    Auto Start-Stop function

    Brake energy regeneration Plug-in hybrid

    Hybrid

    Electro-mobility Fuel cell technology

    BMW Group Investor Presentation, August 2015 Page 106

    THE HELP OF NEW DRIVETRAIN TECHNOLOGIES.

    EFFICIENT DYNAMICS OUR WAY TO REDUCE CO2.

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    Brake energy regenerationTyres with reduced rolling resistance

    Air Breather

    Aerorims

    Active spoiler

    BMW BluePerformance

    8-gearautomatic transmission

    Air Curtain

    Active air flap control

    BMW TwinPower

    Turbo Technology

    Intelligentlightweightdesign

    Aeroblade

    Electric power steeringECO PRO Modus

    Gear shift indicator

    Auto Start Stop function

    BMW Group Efficient Dynamics enginefamily for petrol and diesel engines

    BMW Group Investor Presentation, August 2015 Page 107

    NEW BMW EFFICIENTDYNAMICS ENGINE -SCALABILITY OF BASIC DESIGN OF ENGINE FAMILY

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    New Engine Family

    Vehicles Technologies

    BMW Group Investor Presentation, August 2015 Page 108

    SCALABILITY OF BASIC DESIGN OF ENGINE FAMILYALLOWS BROADER APPLICATION ACROSS VEHICLE

    PROJECTS AND TECHNOLOGIES.

    THE NEW BMW EFFICIENTDYNAMICS ENGINE FAMILY MODULAR STRATEGY

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    Combustion Chamber:

    Optimal size, roundabout 500 ccm

    Central injector

    Minimized friction

    Different aspects for Gasoline/Diesel:

    Cylinder head elements

    Combustion process

    Approximate range of torque and

    power per cylinder: Gasoline: 60-100 Nm, 30-50 kW

    Diesel: 75-100 Nm, 20-40 kW

    BMW Group Investor Presentation, August 2015 Page 109

    MODULAR STRATEGY.

    WE ARE TRANSFERRING BMW i TECHNOLOGY TO OURCORE BRAND VEHICLES

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    Page 110

    CORE BRAND VEHICLES.

    BMW 3 Series eDrive~183 kW / 245 hp / >400Nm~2.1 ltr/100km / ~ 50 gCO2/km0-100 km/ h < 7.0 s~ 35 km purely electric driving

    Market launch: 2016.

    Fuel consumption EU test cycle .

    BMW Concept Active Tourer eDrive>140 kW / 190 hp / >250 Nm~2.1 ltr/100km / ~ 50 gCO2/km0-100 km/ h < 8.0 s~ 35 km purely electric driving

    Market launch: tbd.

    BMW X5 xDrive40e230kW / 313 hp / 450Nm3.3 3.4 ltr/100km / 77 -78 gCO2/km0-100 km/h 6.8 sup to 31km purely electric driving

    Market launch: Autumn 2015.

    BMW Group Investor Presentation, August 2015

    THE BMW GROUP 120G FLEET.

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    Already 54 BMW Group models come with a maximum 120 g CO2/km.1

    Fuel consumption figures: liters/100 km in EU test cycle, CO2 figures: g/km.

    BMW 118d 3-Door110 kW / 150 hp3.8 l / 99 g

    BMW 120d 3-Door140 kW / 190 hp3.9 l / 103 g

    BMW 116d 5-Door85 kW / 116 hp3.6 l / 96 g

    BMW 116d 3-Door85 kW / 116 hp3.6 l / 96 g

    BMW 116d 3-Door 2

    85 kW / 116 hp3.4 l / 89 g

    BMW 116d 5-Door 2

    85 kW / 116 hp3.4 l / 89 g

    BMW 218d Coup

    110 kW / 150 hp3.8 l / 101 g

    BMW 118d 5-Door110 kW / 150 hp3.8 l / 99 g

    BMW 120d 5-Door140 kW / 190 hp3.9 l / 103 g

    BMW X1 sDrive 18d110 kW / 150 hp4.1 l / 109 g

    BMW i3125 kW / 170 hp0.0 l / 0 g

    BMW i3 Rex125 kW / 170 hp0.6 l / 13 g

    BMW i8266 kW / 362 hp2.1 l / 49 g

    BMW 520d140 kW / 190 hp4.1 l / 109 g

    MINI One 3-Door75 kW / 102 hp4.6 l / 108 g

    MINI Cooper SD 5-Door125 kW / 170 hp4.1 l / 109 g

    MINI Cooper Clubman100 kW / 136 hp5.1 l / 118 g

    MINI Cooper D Clubman110 kW / 150 hp4.1 l / 109 g

    MINI Cooper D Countryman82 kW / 112 hp4.2 l / 111 g

    MINI Cooper 3-Door100 kW / 136 hp4.5 l / 105 g

    MINI One D 5-Door70 kW / 95 hp3.5 l / 92 g

    BMW 418d Coup110 kW / 150 hp4.1 l / 109 g

    BMW 518d110 kW / 150 hp4.2 l / 110 g

    BMW 420d Gran Coup140 kW / 190 hp4.0 l / 106 g

    MINI Cooper SD Paceman105 kW / 143 hp4.5 l / 119 g

    BMW Group Investor Presentation, August 2015 Page 1111 Not all the models are exhibited in this slide. 2 EfficientDynamics Edition.

    BMW 220d Convertible

    140 kW / 190 hp4.1 l / 108 g

    BMW 218i Active Tourer

    100 kW / 136 hp4.9 l / 115 g

    BMW 214d Active Tourer

    70 kW / 95 hp3.8 l / 99 g

    BMW 216d Active Tourer

    85 kW / 116 hp3.8 l / 99 g

    BMW 218d Active Tourer

    110 kW / 150 hp4.1 l / 109 g

    BMW 220d Active Tourer

    140 kW / 190 hp4.3 l / 112 g

    BMW 214d Gran Tourer

    70 kW / 95 hp3.9 l / 104 g

    BMW 216d Gran Tourer85 kW / 116 hp3.9 l / 104 g

    BMW 218d Gran Tourer110 kW / 150 hp4.3 l / 114 g

    BMW 316d85 kW / 116 hp3.9 l / 102 g

    BMW 318d110 kW / 150 hp4.0 l / 106 g

    BMW 318d Touring110 kW / 150 hp4.1 l / 109 g

    BMW 320d Touring 2

    120 kW / 163 hp4.0 l / 104 g

    BMW 318d GT110 kW / 150 hp4.3 l / 112 g

    BMW 320d GT140 kW / 190 hp4.3 l / 113 g

    EFFICIENT DYNAMICS.HISTORY OF HYDROGEN / FUEL CELL CARS

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    1984 BMW 745i 1990 BMW 735iL 1998 BMW 728h

    2001 BMW 745h 2004 BMW Hydrogen 7 2006 BMW H2R

    HISTORY OF HYDROGEN / FUEL CELL CARS.

    BMW Group Investor Presentation, August 2015 Page 112

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    BMW GROUP ACHIEVES A STRONG SECOND QUARTER.

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    BMW Group Investor Presentation, August 2015 Page 114

    Profit before tax - BMW GroupQ2-2015: 2,582 mn Q2-2014: 2,654 mn -2.7PBT margin: 10.8% PBT margin: 13.3% -2.5 pp

    EBIT - AutomobilesQ2-2015: 1,819 mn Q2-2014: 2,161 mn -15.8

    EBIT margin: 8.4% EBIT margin: 11.7% -3.3 pp

    Revenues - BMW Group Change in %Q2-2015: 23,935 mn Q2-2014: 19,905 mn +20.2

    Deliveries to Customers (in units) - Automobiles

    Q2-2015: 573,079 Q2-2014: 533,187 +7.5Revenues - AutomobilesQ2-2015: 21,650 mn Q2-2014: 18,504 mn +17.0

    Free Cash Flow - AutomobilesQ2-2015: 1,497 mn Q2-2014: 270 mn .

    EBT - Financial ServicesQ2-2015: 496 mn Q2-2014: 452 mn +9.7

    2014 numbers adjusted

    BMW GROUP POSTS SOLID FIRST HALF-YEARRESULTS

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    BMW Group Investor Presentation, August 2015 Page 115

    RESULTS.

    Profit before tax - BMW GroupH1-2015: 4,851 mn H1-2014: 4,813 mn +0.8PBT margin: 10.8% PBT margin: 12.6% -1.8 pp

    EBIT - AutomobilesH1-2015: 3,613 mn H1-2014: 3,741 mn -3.4

    EBIT margin: 8.9% EBIT margin: 10.7% -1.8 pp

    Revenues - BMW Group Change in %

    H1-2015: 44,852 mn H1-2014: 38,140 mn +17.6

    Deliveries to Customers (in units) - Automobiles

    H1-2015: 1,099,748 H1-2014: 1,020,211 +7.8Revenues - AutomobilesH1-2015: 40,543 mn H1-2014: 35,063 mn +15.6

    Free Cash Flow - AutomobilesH1-2015: 2,557 mn H1-2014: 1,002 mn .

    EBT - Financial ServicesH1-2015: 1,055 mn H1-2014: 905 mn +16.6

    2014 numbers adjusted

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    VALUE ORIENTATION.

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    Automotive:Return on Capital

    Employed

    Vehicle projects:Model return based onDCF

    Finance & leaseportfolio:Cash flows

    Motorcycles:Return on Capital

    Employed

    Financial Services:Return on Equity

    Vehicle projects:Model return based onDCF

    BMW Group Investor Presentation, August 2015 Page 117

    EFFECTS ON AUTOMOTIVE SEGMENTS EARNINGS IN2014.

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    Page 118

    2014.

    EBIT FY-2013*EBIT margin 9.4%

    EBIT FY-2014EBIT margin 9.6%

    -19

    Net effectsFX/

    Raw material

    +26

    Other operatingincome &expenses

    +1.674

    Volume/Mix/Market

    -423

    Depreciation

    in euro million

    -663

    7.244

    Other costchanges

    6.649

    BMW Group Investor Presentation, August 2015 *2013 numbers adjusted

    EBIT MARGIN DEVELOPMENT AUTOMOTIVE SEGMENT.TARGET PROFITABILITY OF 8-10%.

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    9.0 8.88.1 7.9 7.8

    6.7 6.4 6.4

    1.4

    -0.6

    8.0

    11.8

    10.8

    9.49.6

    8.9

    -2

    -1

    0

    1

    2

    3

    4

    5

    67

    8

    9

    10

    11

    12

    13

    2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012* 2013 2014 H1-2015

    in %

    *) 2012 figures have been adjusted in accordance with the revised version of IAS 19, see note 7 on page 106 of the annual report 2012.

    Targetcorridor

    BMW Group Investor Presentation, August 2015 Page 119

    TARGET PROFITABILITY OF 8 10%.

    DIVIDEND DEVELOPMENT AND PAYOUT RATIO.TARGET PAYOUT RATIO OF 30-40%.

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    351392 419 419 458

    694

    197 197

    852

    1,508

    1,6401,707

    1,904

    17.4%20.1% 18.7% 18.7%

    15.9%

    22.1%

    59.7%

    93.8%

    26.3%30.7%

    32.1% 32.0% 32.7%

    0.0%

    10.0%

    20.0%

    30.0%

    40.0%

    50.0%

    60.0%

    70.0%

    80.0%

    90.0%

    100.0%

    0

    500

    1,000

    1,500

    2,000

    2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    BMW Group Investor Presentation, August 2015 Page 120

    TARGET PAYOUT RATIO OF 30 40%.

    Dividend per share(in )

    2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    Ordinary share 0.52 0.58 0.62 0.64 0.70 1.06 0.30 0.30 1.30 2.30 2.50 2.60 2.90

    Preferred share 0.54 0.60 0.64 0.66 0.72 1.08 0.32 0.32 1.32 2.32 2.52 2.62 2.92

    Total payout (in million, LHS)

    Payout ratio* (RHS)

    *Payout ratio based on Group net income before minority interest.

    NET INTEREST-BEARING ASSETS AUTOMOTIVESEGMENT.

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    1 2 3 4 5 6

    + 5,267

    +3,650

    + 4,140 -3,197

    13,595+3,735

    30.06.2015

    31.12.2014

    Euro million

    Euro million

    Cash and cashequivalents

    Marketablesecurities

    Financialliabilities

    Net interest-bearing assets

    Internal net financialreceivables from

    Financial ServicesSegment

    Internal net financial

    receivables fromOther Entities

    Segment

    + 5,752

    + 3,366

    + 5,306 -3,478

    14,223+3,277

    Cash and cashequivalents

    Marketablesecurities

    Financialliabilities

    Net interest-bearing assets

    Internal net financialreceivables from

    Financial ServicesSegment

    Internal net financialreceivables from

    Other EntitiesSegment

    SEGMENT.

    BMW Group Investor Presentation, August 2015 Page 121

    OPERATING CASH FLOW AND FREE CASH FLOWAUTOMOTIVE SEGMENT.

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    4,4714,921

    8,150 8,110

    9,167

    9,964

    9,423

    197

    1,456

    4,471

    3,166

    3,809

    3,0033,481

    0

    2,000

    4,000

    6,000

    8,000

    10,000

    12,000

    2008 2009 2010 2011 2012 2013 2014

    Cash inflow from operating activities Free Cash Flow before net investments in securities

    in euro million

    BMW Group Investor Presentation, August 2015 Page 122

    AUTOMOTIVE SEGMENT.

    * 2013 figures have been adjusted.

    *

    *

    CAPITAL EXPENDITURE.STRATEGIC TARGET CAPEX RATIO: BELOW 7%.

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    2,777 2,934 2,980 2,384 2,312 2,720 4,151 4,967 4,601

    1,536 1,333 1,224

    1,087951

    972

    1,089

    1,744

    1,499

    8.8%

    7.6%

    7.9%

    6.8% 5.4% 5.4%6.8%

    8.8%

    7.6%

    5.4%

    4.8%

    5.4%

    4.6%

    3.7% 3.8%

    5.2%

    5.9%5.6%

    0%

    2%

    4%

    6%

    8%

    10%

    12%

    0

    1,000

    2,000

    3,000

    4,000

    5,000

    6,000

    7,000

    2006 2007 2008 2009 2010 2011 2012 2013 2014

    Capital expenditure in property, plant, equipment and intangible assets Capitalized development costs

    Capital expenditure ratio* Capex into PPE ratio*

    in euro million

    4,267

    4,3134,204

    3,471

    3,2633,692

    5,240

    * based on Group revenues

    6,687

    BMW Group Investor Presentation, August 2015 Page 123

    6,100

    RESEARCH & DEVELOPMENT COSTS.STRATEGIC TARGET (CASH) R&D RATIO: 5%-5.5%.

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    5.2% 5.2% 5.3% 5.1% 5.1% 5.2%5.2% 5.4%

    5.1%

    6.5%

    5.6%5.4%

    4.8%4.6%

    4.9% 5.1%

    6.3%5.7%

    47.9%

    42.4% 42.8%44.4%

    34.3%

    28.8%27.6%

    36.4%

    32.8%

    0%

    10%

    20%

    30%

    40%

    50%

    1%

    2%

    3%

    4%

    5%

    6%

    7%

    8%

    2006 2007 2008 2009 2010 2011 2012 2013 2014R&D Costs (IF RS) / Group revenues in % R&D Costs (HGB ) / Group revenues in % C apitalisation Ratio

    BMW Group Investor Presentation, August 2015 Page 124

    ( )

    in euro million 2006 2007 2008 2009 2010 2011 2012 2013 2014

    Research & Development Costs(IFRS)

    2,544 2,920 2,825 2,587 3,082 3,610 3,993 4,117 4,135

    Research & Development Costs(HGB)

    3,208 3,144 2,864 2,448 2,773 3,373 3,952 4,792 4,566

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    THE CENTRAL CORPORATE FINANCE STRATEGYSUPPORTS THE ENTIRE AUTOMOTIVE VALUE CHAIN.

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    Research &Development

    Production Sales &Marketing

    FinancialServices

    Ensure sustainable access to international financial marketsExplore and maintain presence and competence in all strategic important capital markets worldwide

    Ensure independence from individual lenders, banks and financial instruments

    Diversification of funding sources, investors and products. Maintain a solid level of liquidity.

    Create value by optimizing financing costs on overall Group basisCredit spread management for each financial instrumentEnsure long-term, strategic perspective (instrument mix)

    Financial Flexibility

    Financial

    Independence

    Value Orientation

    The main target of the Group funding strategy is ensuring BMW Groups solvency, also in times of crisis.

    Object

    ives

    BMW Group Investor Presentation, August 2015 Page 126

    CORPORATE FINANCE CAPABILITIES.

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    Categories of available instruments over the spectrum of maturities:

    CP

    ABCP

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    Funding is done worldwide to optimize refinancing costs and to establish a broad investor base.

    USA

    USD Commercial PaperUSD US PPUSD ABS

    Euro Capital MarketsEUR Commercial PaperFrench Commercial Paper

    EUR (EMTN) PPsEUR Benchmark BondsUSD EurodollarAUD EuroaussieNOK (EMTN) BondsSEK (EMTN) Bonds

    EUR ABS

    Great Britain

    GBP (EMTN) PPsGBP BondsGBP ABS

    Switzerland

    CHF (EMTN) PPsCHF Bonds

    CHF ABS

    Japan

    JPY (EMTN) PPsJPY Euro-YenJPY ABS

    JPY Schuldschein

    Australia

    AUD (EMTN) PPAUD ABSAUD (AMTN) Bonds

    Hong Kong

    RMB (EMTN) PPHKD (EMTN) PP

    South Africa

    ZAR ABS

    ZAR Domestic Bonds

    Canada

    CAD ABS

    CAD (EMTN) PPsCAD Domestic Bonds

    Mexico

    MXN (EMTN) PP India

    INR Domestic Bond

    South Korea

    KRW Domestic BondUSD ABS

    Mainland China

    RMB ABS

    Brazil

    BRL ABS

    Page 128BMW Group Investor Presentation, August 2015

    DEVELOPMENT OF BMW GROUP LIQUIDITY.

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    2.0

    7.5 7.8 7.4 7.8

    9.3

    8.1 8.5 8.4 7.9 8.1 7.7 7.7 7.5 7.58.2 7.7

    6.92.4

    0.7

    1.61.6

    2.3

    2.7

    2.72.6 2.7 3.0 2.9 3.0 3.1 3.2 3.1

    3.1 4.04.4

    0

    2

    4

    6

    8

    10

    12

    14

    FY-07 FY-08 FY-09 FY-10 FY-11 Q1-12 Q2-12 Q3-12 FY-12 Q1-13 Q2-13 Q3-13 FY-13 Q1-14 Q2-14 Q3-14 FY-14 H1-15

    Cash & cash equivalents Marketable securities & investment funds

    After significantly increasing liquidity during the economic and financial crisis,the BMW Group continues to maintain a solid liquidity position.

    in euro billion

    4.4

    8.2

    9.49.0

    10.1

    12.0

    10.8 11.011.0 11.0 11.0 10.710.7 10.610.711.3

    BMW Group Investor Presentation, August 2015 Page 129

    11.711.3

    DEVELOPMENT OF 5-YEAR CDS.

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    0

    100

    200

    300

    400

    500

    BMW Group Investor Presentation, August 2015 Page 130

    Source: Reuters Credit Views as of August 6, 2015

    bps

    BOND AND PRIVATE PLACEMENT MATURITIES.

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    0

    2,000

    4,000

    6,000

    8,000

    10,000

    12,000

    2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

    Issuance Maturitiesin euro million

    Status as of June 30, 2015; Maturities based on nominal values excluding derivatives.

    BMW Group Investor Presentation, August 2015 Page 131

    FINANCIAL DEBT AS OF JUNE 30, 2015.

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    53.1%

    46.9%

    BMW Group maintained a well-diversified debt structure.The average maturity of financial liabilities is approximately 2.0 years.

    49.5%

    3.4%

    8.3%

    9.9%

    0.9%

    5.9%

    7.2%

    14.3%

    0.5%

    *Adjusted, excluding currency and interest rate derivatives

    Bank Loans

    CommercialPaper

    ABS

    Others

    Customerdeposits

    EMTNs/Bonds/SSDs

    EUR 82.4 bn*

    1 year

    (53.5%***)

    (46.5%***)

    Debt Maturity**

    > 1 year

    ** incl. derivatives*** comparative figures as of 31 December 2014

    Brokered CDs

    Structured finance

    BMW Group Investor Presentation, August 2015 Page 132

    Fed Funds

    G L T ABS A t 2014 EUR 1 0b

    FUNDING ACTIVITY IN 2014 & 2015.

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    ABS

    German Loan Term ABS, August 2014, EUR 1.0bn Brazil Dealer Floorplan Conduit, August 2014, BRL 200m South Africa Loan Term ABS, September 2014, ZAR 950m USA Loan Term ABS, October 2014, USD 1.0bn

    USA Lease Term ABS, January 2015, USD 1.0bn Canada Lease Term ABS, June 2015, CAD 500m China Loan Term ABS, June 2015, RMB 2.6bn ABS Japan, June 2015, JPY 30bn

    Bonds

    CAD 400m dual tranche benchmark bond, November 2014: CAD 200m, 2.25 year term (3 month CDOR +41bp coupon) CAD 200m, 4.0 year term (2.27% coupon)

    EUR 1.5bn dual tranche benchmark bond, January 2015: EUR 750m, 5 year term (0.5% coupon)

    EUR 750m, 10 year term (1.0% coupon) AUD 500m bond, 3.0 year term, February 2015 (2.75% coupon) EUR 2.5bn triple tranche benchmark bond, April 2015:

    EUR 1bn, 3 year term (3M EURIBOR+20bps) EUR 1bn, 7 year term (0.625% coupon) EUR 500m, 12 year term (1.0% coupon)

    GBP 300m EMTN, 5 year term, May 2015 ( 1.75% coupon) EUR 600m EMTN dual tranche bond, June 2015:

    EUR 300m, 2 year term (3M EURIBOR+14bps) EUR 300m, 3 year term (3M EURIBOR+17bps)

    KWR 140bn Korea bond, 3 year term, June 2015 (fix mid swap, 40bps, 2,266% coupon)

    Private Placements Issuance 2015: EUR 1,990mn Constant issuance in different currencies (EUR, JPY, AUD, SEK, USD, CHF, GBP, NOK, HKD, NZD)

    Commercial Paper EUR 5.9 bn outstanding as of June 30, 2015

    Schuldschein Issuance 2015: EUR 177m

    BMW Group Investor Presentation, August 2015 Page 133

    CONTENT.

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    2 CORPORATE STRATEGY

    4 GROWTH MARKETS

    5 AUTOMOTIVE

    6 MOTORCYCLES

    7 FINANCIAL SERVICES

    8 MOBILITY SERVICES

    10 SUSTAINABILITY

    11 EFFICIENT DYNAMICS

    12 FINANCIALS

    13 FUNDING

    3 BMW i

    9 PRODUCTION NETWORK

    1 BMW IR AT A GLANCE

    14 CONTACTS & CALENDAR

    BMW GROUP INVESTOR RELATIONS CONTACTS.

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    Torsten SchsslerHead of Investor Relations

    [email protected]

    Andreas StfflerEquity IR

    [email protected]

    Bernd DaserDebt & Equity IR

    [email protected]

    Ziye ZhouDebt & Equity IR

    [email protected]

    BMW Group InvestorRelations App for the iPad

    http://www.bmwgroup.com/ir

    BMW Group Investor Presentation, August 2015 Page 135

    Patrick NeumayerEquity IR

    [email protected]

    BMW GROUP INVESTOR RELATIONS FINANCIALCALENDAR 2015.

    mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.bmwgroup.com/e/0_0_www_bmwgroup_com/investor_relations/ir_2011.htmlmailto:[email protected]:[email protected]://www.bmwgroup.com/e/0_0_www_bmwgroup_com/investor_relations/ir_2011.htmlhttps://itunes.apple.com/us/app/bmw-group-ir-app/id522627230?mt=8https://itunes.apple.com/us/app/bmw-group-ir-app/id522627230?mt=8mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    04.08.2015 Quarterly Report June 2015

    03.11.2015 Quarterly Report September 2015

    16.03.2016 Annual Account Press Conference 2016

    16.03.2016 Annual Report 2015

    17.03.2016 Analyst and Investor Conference 2016

    03.05.2016 Quarterly Report March 2016

    12.05.2016 Annual General Meeting 2016

    BMW Group Investor Presentation, August 2015 Page 136

    BMW Group InvestorRelations App for the iPad

    http://www.bmwgroup.com/ir

    BMW INVESTOR RELATIONS ON THE ROAD 2015.

    http://www.bmwgroup.com/e/0_0_www_bmwgroup_com/investor_relations/ir_2011.htmlhttp://www.bmwgroup.com/e/0_0_www_bmwgroup_com/investor_relations/ir_2011.htmlhttps://itunes.apple.com/us/app/bmw-group-ir-app/id522627230?mt=8https://itunes.apple.com/us/app/bmw-group-ir-app/id522627230?mt=8
  • 7/25/2019 InvestorPresent August 2015

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    04.09.2015 Barclays Driverless World Conference London

    15./16.09.2015 dbAccess IAA Cars 2015 Conference Frankfurt

    17.09.2015 ESN European Conference Frankfurt

    22./23.9.2015 Berenberg and Goldman Sachs German Corporate Conference Munich

    24.09.2015 Baader German Investment Conference Munich

    04.12.2015 Goldman Sachs Global Auto Conference London

    BMW Group Investor Presentation, August 2015 Page 137

    DISCLAIMER.

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    This document contains forward-looking statements that reflect BMW Groups current views about futureevents. The words anticipate, assume, believe, estimate, expect, intend, may, can, could,plan, project, should and similar expressions are used to identify forward-looking statements.

    These statements are subject to many risks and uncertainties or may be affected by factors outside BMWGroups control, including adverse developments in global economic conditions resulting in a decline in

    demand in BMW Groups key markets, including China, North America and Europe; a deterioration in creditand financial markets; a shift in consumer preferences affecting demand for BMW Groups products; changesin the prices of fuel or raw materials; disruption of production due to shortages of materials, labor strikes orsupplier insolvencies; the effective implementation of BMW Groups strategic goals and targets; changes inlaws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy andsafety; and other risks and uncertainties, including those described under the heading Report on Risks andOpportunities in BMW Groups most recent Annual Report.

    If any of these risks and uncertainties materializes or if the assumptions underlying any of BMW Groupsforward looking statements prove to be incorrect actual results may be materially different from those BMW