InvestorPresent August 2012

August 2012
INVESTOR PRESENTATION
BMW Group Investor Presentation, August 2012
Page 1
FIRST HALF 2012 RESULTS.

in euro million
Revenues Profit / loss before financial result (EBIT) Automotive1) Motorcycles Financial Services2) Other entities Eliminations Profit before tax Net profit EPS in euro (common / preferred) Operating cash flow (Automotive) Free cash flow (Automotive)3) Net interest-bearing assets (Automotive) Equity (Group)
*) Adjusted
1) H1-2011
H1-2012 37,495 4,402 3,899 85 867 27
H1-2011* 33,925 4,597 4,116 78 1,142 38
Change in % 10.5 -4.2 -5.3 9.0 -24.1 -28.9
-476
4,053 2,626 3.99 / 4.00 4,133 2,488 12,190 27,515
-777
4,355 2,917 4.43 / 4.44 5,086 3,442 12,632 25,702
38.7
-6.9 -10.0 -9.9 / -9.9 -18.7 -27.7 -3.5 7.1
for effect of change in accounting policy for leased products as described in note 3 on pages 35ff. of the quarterly report to June 30, 2012. EBIT includes a positive effect of 85 million from the adjustment of residual value risk provisions. 2) EBIT includes a positive effect of 78 million from better than expected off-lease business (H1-2011 one-effects amounted to 439 million). 3) Free cash flow includes net investments in marketable securities of 266 million ( 188 million in H1-2011).
BMW Group Investor Presentation, August 2012 Page 2
GUIDANCE 2012.
BMW Group
We aim to achieve a higher full-year Group profit before tax than in 2011.
Automotive Segment
Record sales of above 1.7 million units. Increase in absolute EBIT. EBIT margin at the upper end of 8-10%. Return on Capital Employed of >26%.
Financial Services Segment

Return on Equity of > 18%.
Page 3
CONTENT.
1 2 3 4 Corporate Strategy Growth Markets Automotive Motorcycles 6 Production Network
7
8 9 10
Sustainability
EfficientDynamics Financials Funding
Financial Services
Page 4
BMW GROUP. STRATEGY NUMBER ONE.
Page 5
STRATEGIC OBJECTIVE.
We want to be the leading provider of premium products and premium services for individual mobility.
Page 6
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 securing future success. We are driven by our goal to increase profitability.
STRATEGY NUMBER ONE MANAGING THE TECHNOLOGICAL CHANGE TO REMAIN FUTURE PROOF.
Evolution
Efficient combustion engines Innovative technologies
Revolution
Alternative drive trains Mobility services
Page 8
TECHNOLOGICAL CHANGE TURNING A CHALLENGE INTO AN OPPORTUNITY.

Growth, technological progress
REVOLUTION
Alternative drive trains Mobility services
Technological change
EVOLUTION Efficient combustion engines Innovative technologies
In times of technological change we have to improve our existing technologies and invest heavily in new technologies to remain future proof.
Hybrids Internal Combustion Engine
E-Mobility
time
TARGETS 2016.
BMW Group
R&D ratio (cash R&D, %) Capex ratio (%) Payout ratio (%)
2011
4.9 5.4 30.7
2016
5.0 5.5 <7.0 30.0 40.0
Automotive Segment
Retail unit sales (000 units) Return on Capital Employed (%) Return on Sales (EBIT, %) Free cash flow (euro million) 1,669 77.3 11.8 2,133* > 2,000 > 26.0 8.0 10.0 > 3,000
Segment Financial Services

Return on Equity (%) 29.4 > 18.0
* Figure as reported. The Free Cash Flow in the Automotive segment adjusted for a capital increase in BMW Bank (Q2-11: 625 million), the pro-rated acquisition of the ING Car Lease-Group (Q3-11: 249 million) and the purchase of SGL Carbon shares (Q4-11: 487 million) totaled 3,494 million. BMW Group Investor Presentation, August 2012 Page 10
DEVELOPMENT OF R&D RATIO.

7.0% 6.7% 6.5% 6.2% 6.0% 5.5% 5.0% 4.9% 5.8% 5.6% 5.4% 6.4% 6.5%
4.5%
4.0%
4.8% 4.6%
4.9%
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
R&D ratio: R&D Expenditure (HGB) / Revenues

DEVELOPMENT OF CAPEX RATIO.

10.2%
10.0%
9.5% 9.0% 8.0% 9.1%
9.8% 8.8% 8.6%
7.9% 7.6% 6.8% Target: <7.0%
7.0%
6.0% 5.4% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 5.4% 2011
5.0%
Capex ratio: Total Capex / Revenues

USE OF STANDARDIZED ARCHITECTURES AND MODULAR SYSTEMS.
Page 13
MATERIAL COST OFFENSIVE: ACROSS ALL MODEL SERIES.

Model series A Model series B Model series C Model series D Model series E
Today
Material cost offensive
In the past
THE NEW BMW EFFICIENTDYNAMICS ENGINE FAMILY HIGH LEVELS OF COMMONALITY BETWEEN AND WITHIN DIESEL AND GASOLINE ENGINES.
Cylinders (inline)
-3
-4
-6
Common parts shared within gasoline or diesel engines is approx. 60%.
Gasoline
60 %
Between the gasoline and diesel engines there is a 40% sharing.
Diesel
60 %
40 %
Page 15
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 16
PRIORITY ON GROWTH MARKETS.

Turkey
Eastern Europe
Russia
USA
India
China Brazil
South Korea
Page 17
NUMBER OF MILLIONAIRES IN THE ESTABLISHED AND BRIKT MARKETS.

CAGR +5.7%
50,000 45,000 40,000 35,000 30,000 25,000 20,000 1,000 15,000 10,000 5,000 0 Established Markets
(USA, Japan, Germany, United Kingdom, France, Italy)
thsd.
3,000 45,701
thsd.
2011
2020
+7.4%
2020
2,500
2,500
2,000
+14.3%
1,730
27,764
1,500
2011
+13.9% +14.2%
1,001 1,205
1,312
+10.4%
694
+9.2%
601 520
500 303
375
286
273
0 Brazil Russia India Turkey South Korea

Source: Deloitte (June 2011): The next decade in global wealth among millionaire households
Mainland China
Page 18
BMW GROUPS CHINA STRATEGY FOCUSES ON DYNAMIC AND PROFITABLE GROWTH.
+ +
Chinas premium segment has highest CAGR worldwide of 11.3% (2011-2020; Global Insight Data) Attractive growth prospects: rising per capita income and growing upper middle class
Page 19
BMW GROUP IN CHINA.
Long-term growth potential for premium brands Further expansion of BMW China in order to participate in market growth: Build-up of R&D department Expansion of local and global sourcing
Further expansion of plants in Shenyang, engine assembly

Start of independent BMW Financial Services operations in China in 2010 Existing growth potential to become largest market worldwide for BMW Group
Page 20
BMW AND MINI RETAIL DEVELOPMENT IN MAINLAND CHINA.

250 in 000 units BMW MINI
232.6
200
182.0 169.0
150
100
90.5 65.8 51.6
50
36.4 24.0
0 2005 2006 2007 2008 2009 2010 2011 2012 YTD
Source: BMW Group Retail data, July 2012 YTD BMW Group Investor Presentation, August 2012 Page 21
BMW AND MINI RETAIL MIX IN CHINA H1-2012.

MINI: 7.1% 7 series: 9.2% 6 series: 0.5%
1 series: 6.0% X1: 9.1%

3 series: 17.4%
X6: 4.0%
X5: 6.4%
5 GT: 3.5%
X3: 4.9% 5 series: 31.0%
Z4: 0.9%
Source: BMW Group Retail data, H1-2012. BMW Group Investor Presentation, August 2012 Page 22
URBANIZATION IN CHINA ONGOING POTENTIAL.

China cities brief introduction China urbanization forecast by 2025
7 83 182
cities population >10 million
Beijing 16.5 million
Tianjin 11.5 million Shanghai 18.5 million
cities population 5-10 million
Chengdu 13 million
Chongqing 36 million
cities population 1-5 million
Guangzhou 10 million
Shenzhen 12 million
Highly-developed areas
Less-developed areas
Huge number of cities in China: 350 prefecture level cities and 100 county level cities. City development level is quite different. 350 million people will be added to Chinas urban population by 2025 (more than the population of todays United States, McKinsey estimates).
The scale of Chinas cities and the trend towards city urbanization ensure that China will remain a substantial market.
CHINA PREMIUM SEGMENT DEVELOPMENT.

3,000 assumed annual growth rate ca. +6%
in 000 units
CAGR 2011-2020: 11.3%

2,528
assumed annual growth rate ca. +18%
2,500
2,000
1,901
1,500 annual growth rate 1,000
+43%
966
500
111
0
2005
Source: Global Insight
2011
2015E
2020E
With this development, China will become the biggest market for the BMW Group worldwide.
315 BMW AND 70 MINI DEALER OUTLETS IN OPERATION BY JUNE 2012.

Daqing Jiamusi Harbin Kelamayi Urumqi Hohhot Changchun Songyuan Jilin Shenyang Mudanjiang
Outlet East North South West Total
BMW 101 88 72 54 315
MINI 24 16 15 15 70
Jinzhou Beijing Baotou Anshan Panjin Yingkou Erdos Qinhuangdao Datong Tangshan Langfang Baoding Dalian Tianjin Yulin Shijiazhuang Dongying Yinchuan Yantai Taiyuan Handan Jinan Weifang Lvliang Xining Changzhi Qingdao Zibo Lanzhou Linfen Linyi Yuncheng Xinxiang Lianyungang Luoyang Xuzhou Zhengzhou Yancheng Huaian Xi`an Bengbu Yangzhou Pingdingshan Hefei Wuxi Nantong Suzhou Deyang Nanjing Mianyang Zhenjiang Wuhan Changzhou Yichang Jiaxing Shanghai Huzhou Hangzhou Wuhu Chengdu Ningbo Jinhua Shaoxing Chongqing Shangrao Leshan Changsha Taizhou Lishui Zunyi Wenzhou Xiangtan Nanchang Zhuzhou Ningde Chenzhou Fuzhou Guiyang Ganzhou Qujing Putian Zengcheng Quanzhou Guilin Longyan Guangzhou Liuzhou Zhaoqing Kunming Xiamen 4S Dongguan Foshan Nanning Shantou Jjiangmen Showroom Huizhou Zhongshan Service outlet Shenzhen Zhuhai
UCC
Haikou
*4S dealership refer to: Sale, Spare parts, Service & Survey Page 25
BMW BRAND RANKS 3rd GLOBALLY AND 1st IN CHINA.

Brand Desire Study 2010 by Clear* : Which brand is most desired?
The Brand Desire International Top 10:

01 Apple 02 Google 03 BMW 04 Disney 05 WWF 06 Sony 07 Mercedes 08 Rolex
The Brand Desire in China Top 10: 01 BMW

02 Cartier 03 Rolex 04 Apple 05 Microsoft 06 Salvatore Ferragamo 07 Nintendo 08 Mercedes 09 Tiffany 10 Four Seasons
09 Nintendo
10 Microsoft
* About Clear survey: 17,000 participants in 5 countries: US, UK, Germany, China, Singapore
Page 26
DEVELOPING BMW FINANCIAL SERVICES CHINA.

Majority of vehicles are still bought without financing or leasing.
License II approval received from the CBRC. BMW Finance Automotive China (JV of BMW AG and BBA) started independent operations in November 2010. 2011: Successful business development.
Strong Expansion of BMW Financial Services China

COMBINED BRIKT SALES ARE WITHIN THE TOP 5 MARKETS FOR THE BMW GROUP IN JULY 2012 YTD.
200
in 1,000 units
185.7 182.0 161.7 BMW MINI
180
160
140
120 100 80 60 40 20 0 USA China* Germany UK BRIKT** France Italy Japan Belgium Spain Canada *China: Mainland China only **BRIKT: Brazil, Russia, India, South Korea and Turkey Source: BMW & MINI Retail data, July 2012 YTD BMW Group Investor Presentation, August 2012 Page 28 58.5 95.5
39.2
38.2
31.6
25.7
22.1
21.6
BRIKT MARKETS BMW AND MINI RETAIL DEVELOPMENT IN JULY 2012 YTD.
Retail development in BRIKT
120 100 80 60 40 20 0 2005 2006 2007 2008 2009 2010 2011 2012 YTD 35.0 20.8 25.0 40.0 69.7 58.5 98.9 16 14 12 10 8 6 6.4 4.9 1.8 2.1 2.6 2.9 9.9
Retail development in Brazil

15.2 35 30 25 20 15 10 5
Retail development in Russia

30.2 21.6 17.0
19.2 14.7 6.7 9.5
20.9
45.4
4 2
0
0
2005 2006 2007 2008 2009 2010 2011 2012 YTD 2005 2006 2007 2008 2009 2010 2011 2012 YTD
Retail development in India

10 9 8 7 6 5 4 3 2 1 0 9.4 30 25 6.2 5.2 2.9 1.4 0.2 0.3 3.6 20 15 10 5 0 2005 2006 2007 2008 2009 2010 2011 2012 YTD
Retail development in South Korea

27.4 18 16 19.2 18.7 14 12 10
Retail development in Turkey

16.8 12.7 8.1 5.5 5.8 5.4 8.8
6.7
7.3
8.3
9.5
11.0
8 6 4 2 0
7.3
2005 2006 2007 2008 2009 2010 2011 2012 YTD
2005 2006 2007 2008 2009 2010 2011 2012 YTD
Source: BMW & MINI Retail data, July 2012 YTD BMW Group Investor Presentation, August 2012
In 1,000 units
BMW
MINI
Page 29
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 30
THREE AUTHENTIC PREMIUM BRANDS.
Sheer driving pleasure
The worlds most exciting premium small car brand
The pinnacle of automobile luxury
Page 31
DELIVERIES TO CUSTOMERS JULY 2012 YTD.

Deliveries of automobiles (in units) Total BMW
1 series 3 series
July 2012 YTD

860,327
130,259 222,102
July 2011 YTD

798,612
105,811 224,345
Change in % 7.7 23.1 -1.0
5 series (incl. GT)

6 series 7 series X1 X3 X5 X6 Z4
207,213
12,435 35,174 74,800 84,394 59,920 24,150 9,880
196,515
4,098 36,896 73,487 63,283 57,234 24,807 12,136
5.4
203.4 -4.7 1.8 33.4 4.7 -2.6 -18.6 7.3 -0.6 7.6
Total MINI
Total Rolls-Royce
173,960 1,801
162,069 1,812
BMW Group
1,036,088
962,493
Page 32
BMW GROUP AUTOMOTIVE MAJOR MARKETS. DELIVERIES TO CUSTOMERS JULY 2012 YTD.
July 2012 YTD
USA Mainland China Germany United Kingdom BRIKT* France Italy Japan Belgium Spain Canada Rest of world 185,715 182,048 161,728
July 2011 YTD

169,641 140,472 166,823
Change in % 9.5 29.6 -3.1
95,533
58,469 39,224 38,182
93,778
54,461 39,796 43,884
1.9
7.4 -1.4 -13.0
31,607
25,678 22,068 21,570 174,266
25,177
25,575 24,691 19,761 158,434
25.5
0.4 -10.6 9.2 10.0 7.6
BMW Group
1,036,088
962,493
*BRIKT: Brazil, Russia , India, South Korea and Turkey Data for individual markets includes BMW and MINI vehicles; Rolls Royce sales are included in Rest of World and the total figures. BMW Group Investor Presentation, August 2012 Page 33
BMW GROUP AUTOMOTIVE DELIVERIES TO CUSTOMERS FY-2011.

Deliveries of automobiles (in units) Total BMW
1 series 3 series 5 series (incl. GT) 6 series 7 series X1 X3 X5 X6 Z4
2011 1,380,384
176,418 384,464 332,501 9,396 68,774 126,429 117,944 104,827 40,822 18,809
2010 1,224,280
196,004 399,009 238,454 5,848 65,814 99,990 46,004 102,178 46,404 24,575
Change in %
12.8%
-10.0% -3.6% 39.4% 60.7% 4.5% 26.4% 156.4% 2.6% -12.1% -23.5%
Total MINI Total Rolls-Royce
285,060 3,538
234,175 2,711
21.7% 30.5%
BMW Group
1,668,982
1,461,166
14.2%
Page 34
REGIONAL RETAIL MIX H1-2012.

Mainland China: 17.7%
Canada: 2.1%
Japan: 3.1% USA: 17.6% BRIKT1): 5.5% GCC2): 1.1% Rest of Europe: 8.0% Spain: 2.1% Belgium: 2.5% France: 3.9%
Rest of the World: 7.4%
Germany: 15.8% UK: 9.4% Italy: 3.7%
1) BRIKT:
2) GCC: Gulf Cooperation Council: Bahrain, Kuwait, Oman,
Brazil, Russia, India, South Korea, Turkey
Qatar, Saudi Arabia, United Arab Emirates
Source: BMW and MINI Retail Sales only, H1-2012.
Page 35
BMW RETAIL BY MODEL 2011 (2010).

Total BMW Group sales: 1,668,982 (1,461,166) units.
BMW brand share: 1,380,384 (1,224,280) units or 82.7% (83.8 %) of total sales.
117,944 (46,004) 126,429 (99,990) 310,050 (211,968) 9,396 (5,848) 68,774 (65,814) 104,827 (102,178) 40,822 (46,404) 22,451 (26,486) 18,809 (24,575) 1,380,384 (1,224,280)
384,464 (399,009)
176,418 (196,004)
1 Series 12.8% (16.0%)
3 Series 27.9% (32.6%)
5 Series 22.5% (17.3%)
6 Series 0.7% (0.5%)
7 Series 5.0% (5.4%)
X1 9.2% (8.2%)
X3 8.5% (3.8%)
X5 7.6% (8.3%)
X6 3.0% (3.8%)
5 Series GT 1.6% (2.1%)
Z4 1.4% (2.0%) 100% (100%) Page 36
MINI RETAIL BY MODEL 2011 (2010).

Total BMW Group sales: 1,668,982 (1,461,166) units.
MINI brand share: 285,060 (234,175) units or 17.1% (16.0%) of total sales.
89,036 (14,337) 285,060 234,175 (216,538)
(234,175)
25,745 (31,317) 29,337 (32,680) 29,953 (35,053) 49,262 (58,197) 40,751 (44,268) 17,189 (18,323)
3,787
One, One D 14.3% (18.9%)
Cooper 17.3% (24.9%)
Cooper D 6.0% (7.8%)
Cooper S 10.5% (15.0%)
Convertible 10.3% (14.0%)
Clubman 9.0% (13.4%)
Coupe 1.3%
Countryman 31.2% (6.1%) 100% (100%) Page 37
BMW GROUP RETAIL DEVELOPMENT 2002 UNTIL 2011.
1,800
in 1,000 units
BMW
MINI
Rolls-Royce
+14.2% -4.3% 1,436 -10.4% 1,286 +13.6% 1,461 1,669
1,600
+9.2% +9.9% +9.4% +4.5% 1,209 1,105 1,328 +3.5% 1,374 1,501
1,400
1,200
1,000
1,057 90 6
800
600
400
200
0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Page 38
BMW GROUP BRAND AND PRODUCT OVERVIEW.

Sedan Wagon Hatch Coupe
Coupe
Convert.
Convert.
Roadster
New Seg.
SAV
Luxury
PlusPlus PlusPlus Plus Base
Phantom Ghost 7 Series
6 Series
6 Series
6 Series
Upper Medium Lower Medium Compact
Plus
5 Series
5 Series
GT
X5, X6
Base
Plus Base
3 Series 3 Series 3 Series 3 Series Z4 X3, X4
Plus
Base
1 Series
1 Series
1 Series
X1
Small
Plus Base
MINI
MINI
MINI
MINI
MINI
Page 39
CURRENT MODELS LIFECYCLE OVERVIEW.

2006
Rolls Royce
X5 NG X3 LCI LCI Coupe Sedan NG X6
2007
2008
2009
2010
Ghost X5 LCI
2011
Phantom Series II X6 LCI X3 NG X1 LCI
2012
Phantom Drophead Coup
Phantom Coup
X6 Active Hybrid X1 NG
X Models
Z4
7 Series
Active Hybrid
LCI
6 Series
LCI GT
Convertible
Coupe Sedan NG Touring NG LCI Sedan/Touring M3 Sedan, Convertible M5
Gran Coupe
M6
5 Series Coupe Convertible LCI M3 Coupe
LCI
Active Hybrid Sedan NG Touring NG, Active Hybrid Active E 5 door hatch NG 3 door hatch NG Coupe Roadster Page 40
3 Series
1 Series
Coupe Convert. MINI E Clubman
3 door hatch Cooper / Cooper S One / Cooper D
LCI Coupe & Convert. Convertible LCI
MINI
Countryman
*LCI: Lifecycle Impulse / NG: New Generation
ATTRACTIVE MODEL PORTFOLIO UNTIL 2016 DUE TO A HIGH RENEWAL RATE AND ADDITIONAL MODELS.
3.5
3.0 2.5 2.0 1.5 1.0 0.5 age of product portfolio (sales & mix adjusted)
Cumulated Model Renewal Rate:

~ 75% of total expected annual sales volume will be renewed until 2016
0
2011 2012 2013 2014 2015 2016
Page 41
NEW PRODUCT 2012. BMW 3 SERIES SEDAN.

Launch 02/2012
available from 08/2012
available from 09/2012
Page 42
NEW PRODUCT 2012 BMW 3 SERIES SEDAN. LINES CREATE DESTINCTIVE DESIGN WORLDS.
Sport Luxury Modern
Page 43
NEW PRODUCT 2012. BMW 3 SERIES SEDAN LONG WHEELBASE.

Launch 08/2012
Page 44
NEW PRODUCT 2012. BMW 3 SERIES TOURING.

Launch 09/2012
Page 45
NEW PRODUCT 2012. BMW 6 SERIES GRAN COUPE.

Launch 06/2012
Page 46
NEW PRODUCT 2012. BMW 1 SERIES 3 DOOR HATCH.

Launch 09/2012
Page 47
NEW PRODUCTS 2012. BMW M PERFORMANCE MODELS.
BMW M 550d xDRIVE TOURING
BMW X5 M 50d
BMW Group Investor BMW X6 MPresentation, 50d August 2012
BMW M 550d xDRIVE LIMOUSINE
Page 48
LIFECYCLE IMPULSE 2012. BMW 7 SERIES, X1 AND X6.

Launch 07/2012 Launch 07/2012
Launch 06/2012
Page 49
NEW PRODUCT 2011. MINI COUP.

Launch 10/2011
Page 50
NEW PRODUCT 2012. MINI ROADSTER.

Launch 03/2012
Page 51
FUTURE PROSPECTS. MINI PACEMAN CONCEPT.
Page 52
NEW PRODUCT 2012. ROLLS-ROYCE PHANTOM SERIES II.
Page 53
NEW PRODUCT 2012. BMW 5 SERIES ACTIVE HYBRID.

Features: Future-oriented full hybrid system Battery technology: Li-Ion Auto Start Stop Brake Energy Regeneration Boost function All-electric zero-emission driving in city traffic Intelligent energy management
1 2 3 4
Electric motor 8-speed automatic transmission High voltage electronics High voltage battery
Page 54
MINI E AND BMW ACTIVE E SERVE AS KEY LEARNING PROJECTS OF OUR MEGACITY VEHICLE.
Use of renewable energy.
Market potential.
Transfer scenarios.
User behavior.
Acceptance.
Demands of e-infrastructure.
Strengths and weaknesses.
MINI E
2010
BMW ActiveE
2011
BMW i3 (Megacity Vehicle)
2013
Page 55
THE BIGGEST ELECTRIC VEHICLE FIELD TEST WORLDWIDE.
Number of units:
In total 600 units are in use in LA, the greater NYC region, Munich, Berlin, London, Paris, Tokyo, Beijing and Shenzhen
Power:
Range: Curb Weight: Basis: Target:
150kw
up to 240km or 150 miles 1,465 kg (3,230 lbs) MINI hatch To gain detailed knowledge of how mobility can be achieved efficiently using pure electrically powered vehicles
Page 56
NEW FIELD TEST. BMW ACTIVE E.

Vehicle:
Battery:
Lithium-Ion-Cells, 32 kWh 40 Ah-Cells (SBLiMotive) 192 Cells distributed on tank, tunnel and front Charging times: 4-5 h at 230 V, 32 A 8-10 h at 230 V, 16 A at a normal plug Electric engine: 125 kW / 250 Nm Energy consumption:
4 seats Acceleration (0-100 km/h): 8.5 9s Vmax: 145 km/h Range: 160 km Trunk space: 200 litres
1) Lithium-Ion Battery 2) Electric Engine 3) Power Electronics BMW Group Investor Presentation, August 2012
combined: 14.0 kWh/100 km city: 10.5 kWh/100 km highway: 16.0 kWh/100 km

Page 57
BMW, BMW M AND BMW i IN PERFECT BALANCE.
Innovate Driving Pleasure. Focus on Aesthetics. Performance - Thrilling Technology - Striking Experience - Unrivaled Boost Joy. Visionary Mobility. Inspiring Design. Next Premium.
Page 58
FIRST BMW i BRAND STORE OPENED IN LONDON.

Opening 06/2012
Page 59
OUR ROADMAP FOR SUSTAINABLE MOBILITY FROM 2013: BMW i3 CONCEPT AND BMW i8 CONCEPT.
Page 60
BMW i3 CONCEPT.
Page 61
BMW i8 CONCEPT.
Page 62
PURPOSE-BUILT DESIGN THE LIFEDRIVE CONCEPT.

BMW dynamic driving performance Vision: Clean Production Optimized accommodation of the electric drive system Visionary design language
Innovative key-technologies: CFRP & electric motor
Free forms in the interior and exterior design
LIFEDRIVE
Easy to update with changing technologies Social sustainability Customer related e-mobility concepts
Integrated safety concept for the high-voltage components
Page 63
CARBON FIBER MATERIAL IS ESSENTIAL FOR LIGHTWEIGHT PRODUCTION OF THE BMW i3 AND i8.
Main arguments for the utilization of carbon fiber materials:
Low weight:
CFRP parts are approx. 50% lighter than comparable steel parts and approx. 30% lighter than comparable aluminum parts
High tensile strength/stiffness:

CFRP has excellent damping characteristics and high energy absorption in a crash
Corrosion resistance:
Avoidance of expensive protective coatings as CFRP is resistant to corrosion, acid and solvent
Joint Vent SGL AC
Joi
CF-Textiles
Precursor
Carbonization
Carbon Fibers
CARBON FIBER PRODUCTION CF-Textiles CORE COMPETENCE WITHIN BMW GROUP.

Mitsubishi Rayon Co. Ltd. (MRC), Otake/Japan
(Steam) Cracking Ammoxidation Acrylonitrile Recycling
Preforms
Carbon Fibers
BMW GROUP
Recycling (residual fabrics)

Stacking
JV MSP*, Otake/Japan
Polymerisation / Spinning
*) Joint Venture
Preforms
BMW
CFRPComponents
Stacking
Tailoring Preforming
Mitsubishi Rayon SGL Precursor Co. Ltd. (MSP)
PAN-Precursor
SGL ACF, Moses Lake/USA

Oxidation Carbonisation Carbon Fibers
BMW
Preform
CFRPComponents
CF Fabrics
CFRPMoses Lake, USA components
BMW i3 & i8 Wackersdorf, German
SGL ACF, Wackersdorf/Germany

Knitting
SGL Automotive Carbon Fibers a BMW Group and SGL Group JV

The production of CFRP components Tailoring is our core competence Resin Transfer Molding preforming, Resin-Transfer-Moulding (RTM), milling and tempering is all done in the BMW Group plant in Landshut. Painting and final assembly is done in the BMW Group plant in Leipzig. Moses Lake, USA Wackersdorf, Germany Landsh
Page 65
BMW i3 AND BMW i8 PRODUCTION NETWORK.

JV
Moses Lake, Washington State
Carbon fiber
JV
Leipzig
The BMW Group and the joint venture set up with the SGL Group are investing a total of 530 million in the project. A total of over 1,000 jobs will be created as a result of the investment.
CFRP fabrication MCV assembly
Wackersdorf CFRP alignment + recycling
Battery
E Motor
Landshut
Dingolfing
CFRP fabrication
Drive production
Page 66
SUSTAINABLE PRODUCTION FOR BMW i3 AND i8.
-70% water usage -50% energy requirements 100% of the energy comes from renewable sources
Page 67
THE WORLDWIDE PREMIUM SEGMENT IS EXPECTED TO GROW TO 10.1 MN UNITS PER YEAR IN 2020.
12,000
Premium Segment: CAGR 2011-2020: 5.1% Total Growth 2011-2020: 57%
10,000
Rest of World, CAGR +5.7% BRIKT*, CAGR +4.7%

8,000
China, CAGR +11.3%

6,000
Japan, CAGR +1.2%

Region (000 units) 2011
6,412 569 328 966 165
2020
10,055 938 496 2,528 184
Chg.
57% 65% 51% 162% 12%
North America, CAGR +4.5%
4,000
World Rest of World BRIKT*
2,000
China (Mainland) Japan
North America
Western Europe 0 2011 2012 Source: Global Insight
1,777
2,558 2013
2,636
3,272 2014
48%
28% 2015 2016 2017
Western Europe, CAGR +2.8%
2018
2019
2020
*BRIKT refers to Brasil, Russia, India, South Korea and Turkey Page 68
PREMIUM SEGMENT GROWTH IN EMERGING MARKETS.

300
in 000 units
2011 Sales
Sales Forecast by 2020
250
55.7%
222
200
55.6%
174
138.7%
164
135.9%
152
150
143
112 100 69 50 64
7.2%
68 73
80.6%
77
50.9%
72 48 26
94.2%
51
43
233.4%
36
11
0
Russia
2) New
Russia
GCC 1)
GCC
New EU Countries
New EU Countries2)
South 3) America
South America3)
South Korea
South Korea
Brazil
Brazil
Turkey
Turkey
India
India
Ukraine
Ukraine
1) GCC: Gulf Cooperation Council: Bahrain, Kuwait, Oman,
Qatar, Saudi Arabia, United Arab Emirates EU Countries: Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Rumania, Slovakia, Slovenia 3) South America: Argentina, Bolivia, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Uruguay, Venezuela
Source: Global Insight BMW Group Investor Presentation, August 2012 Page 69
PREMIUM SEGMENT SHARE OF TOTAL MARKET 2011.

35
in %
30
28.7 25.0
25
20 16.0 15 11.8 10 10.0 8.2 6.1 5 5.9 4.7 4.3 1.3 0 Germany United Kingdom Italy USA France China Russia Turkey S. Korea Japan Brazil India 0.9 World Average: 9.2%
Page 70
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 71
BMW MOTORCYCLES PRODUCT OVERVIEW.

ENDURO
Price () 20,000
K1600 GT/GTL
TOUR
SPORT
ROADSTER
URBAN MOBILTIY
R1200 GS Adventure
R1200 RT
K1300 S
S1000 RR
K 1300 R Maxi Scooter Tourer Maxi Scooter Electric
R1200 GS NF
F800 GS 2 Cyl.
10,000
R1200 R
F800 ST F650 GS 2 Cyl. G650 GS / GS Sertao BMW Group Investor Presentation, August 2012 F800 R
Maxi Scooter Sport
Page 72
HUSQVARNA MOTORCYCLES PRODUCT OVERVIEW.

MOTOCROSS
Price () 10,000
TC449 TXC 511 ( US only) TE511 TE449 SMR511
SPORTENDURO
SUPERMOTO
DUAL
STREET
NUDA 900
NUDA 900R
TE310
TC25
TE250
TXC 250/310 ( US only)
WR300
WR250 WR125 TE630
CR125
SM125
5,000
WRE125 CR65 CR50 BMW Group Investor Presentation, August 2012 SMR125 TE125 SM50
Page 73
MOTORCYCLES SEGMENT RETAIL SALES 1990 2011.

120 in 1,000 units 115.2 BMW Husqvarna (since 2008) 100 84.7 80 87.3 74.6 97.5 92.6 93.0 92.3 100.1 102.5 101.7 13.5 100.4 13.1 110.1 12.1 98.0 113.6 9.3 104.3
60 50.2
40 31.3
20
0 1990 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Page 74
MOST IMPORTANT MARKETS FOR BMW MOTORCYCLES IN 2011.

Germany
Other markets
Italy
United States United Kingdom
Spain
France
Germany Italy United States France

18.6% 13.5% 10.5% 9.0%
Spain United Kingdom Other markets
5.6% 5.5% 37.3%
Page 75
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 76
GLOBAL PRESENCE IN 55 COUNTRIES WITH 6,031 EMPLOYEES.
BMW Financial Services
MINI Financial Services
Page 77
LEASING HAS MULTIPLE BENEFITS FOR THE BMW GROUP.

Average holding period (Example Germany)
62 month Cash buyer year 1 36 month Leasing BMW FS year 1 year 12
75% loyalty 63% loyalty
year10
+ 20-25 %
Average level of optional equipment in Germany (Example, in EUR)

0 Cash buyer 2,000 4,000 6,000 8,000 7,100 9,800 10,000 12,000
+ 35-40 %
Leasing BMW FS
Page 78
PROFIT BEFORE TAX (PBT) FINANCIAL SERVICES.

2,000 in euro million 1,750 1,500 1,250 1,000 750 500 345 250 0 2000 -250 -292 -500
1) FY-10
ADDITIONAL RISK PROVISIONS IN 2008.

Total: EUR 1,968 million
Automotive Segment: EUR 911 million residual values Financial Services segment: EUR 1,057 million EUR 363 million credit losses
1,790
2)
EUR 694 million residual values
1,214
1)
605 387 422 452 515
685
743
365
434
3)
431
4)
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Q1-2012 Q2-2012
EBT includes a positive effect of EUR 122 million from better than expected off-lease business. 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. 3) Q1-12 EBT includes a positive effect of EUR 43 million from better than expected off-lease business. 4) Q2-12 EBT includes a positive effect of EUR 35 million from better than expected off-lease business.
2) FY-11
Page 79
RETURN ON EQUITY (ROE) FINANCIAL SERVICES.

35% in % 30%
ADDITIONAL RISK PROVISIONS IN 2008.
Total: EUR 1,968 million
Automotive Segment: EUR 911 million residual values Financial Services segment: EUR 1,057 million EUR 363 million credit losses
29.4%2) 26.1%
1)
25%
EUR 694 million residual values
20%
18.1%
15%
10%
9.2%
5%
0% 2007 -5% -7.3%

1) FY-10 2) FY-11
2008
2009
2010
2011
-10%
RoE includes a positive PBT effect of EUR 122 million from better than expected off-lease business. 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. Page 80
PENETRATION RATE RETAIL BUSINESS.

55%
Financing
50%
45% 40% 35% 30% 25% 20% 15% 17.2%
Leasing
48.1% 44.6% 42.0% 38.3% 34.5% 35.0% 36.1%

27.6% 22.5% 19.1% 18.3% 25.2% 27.2%
49.0%
48.2%
41.1%
42.4%
41.1% 38.7%
24.3% 24.7%
24.0%
21.1%
18.8%
20.9%
24.7% 10% 13.6% 5% 0%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
24.3% 20.0%
17.8%
17.8%
19.2%
19.5%
20.9% 17.1% 17.2% 17.4%
19.9%
2010
2011 *
YTD 06/2012
* The penetration rate dropped significantly due to the consolidation of BMW Group Financial Services China as of January 1 st, 2011. BMW Group Investor Presentation, August 2012 Page 81
DEVELOPMENT OF CREDIT LOSS RATES.

0.90% 0.84% 0.80%
0.70%
0.67%
0.60% 0.54% 0.50% 0.46% 0.40% 0.37% 0.30% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 YTD 06/2012 0.41% 0.41% 0.46% 0.59% 0.49% 0.49%
Page 82
RESIDUAL VALUE DEVELOPMENT IN THE USA.

BMW brand vs. all luxury brands (through July 2012)
130 125 120 115
110 105
100 95 90 85
Jan 01 Jul 01 Jan 02 Jul 02 Jan 03 Jul 03 Jan 04 Jul 04 Jan 05 Jul 05 Jan 06 Jul 06 Jan 07 Jul 07 Jan 08 Jul 08 Jan 09 Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12 Jul 12
BMW brand All luxury brands

Source: Manheim Used Vehicle Value Index, mix and mileage adjusted.
Page 83
DELIVERIES OF BMW CERTIFIED PRE-OWNED AUTOMOBILES IN THE USA.

120 in 1,000 units
112.2
104.5 89.8 114.4
100
80.4
80 60.6 60 44.7 40 16.8 1.6 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 6.1 28.3 65.7 71.1 73.2
84.3
39.9
20
2011
BMW has been #1 in luxury segment Certified Pre-Owned volume every month since data was first collected. BMW has won the J. D. Power Award for best Certified Pre-Owned program in the industry. BMW consistently ranked best in the industry by the National Automobile Dealers Association (NADA) dealer attitude study.
STRATEGIC FUTURE DEVELOPMENT OF FINANCIAL SERVICES.

Expansion of BMW Bank
Fleet Business
E-Mobility New Sales & Service Channels
2012
2011
since 2010 since 2009
BaLea*
* BMW Leasing GmbH was merged into the BMW Bank GmbH
Page 85
ALPHABET GROWS INTO TOP 4 OF FLEET COMPANIES IN EUROPE AFTER ACQUISITION OF ING CAR LEASE.
New Alphabet : A truly European company
600,000
Number of Serviced Contracts
500,000
400,000
300,000
200,000
100,000
0 2007 (old) Alphabet 2008 2009 2010 2011 YTD 06/2012
ING Car Lease
Alphabet
both
Former ING Car Lease
Alphabet
Page 86
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 87
AUTOMOBILE PRODUCTION BY PLANT IN 2011.

Assembly plants (CKD / SKD) Graz Shenyang Goodwood Rosslyn Munich Oxford
in 1,000 units
Dingolfing
Spartanburg
Regensburg Leipzig
M unich, Germany Production of BM W 3 Series Rosslyn, South Africa Production of BM W 3 Series Goodwood, UK Production of Rolls-Royce Shenyang1, China Production of BM W 3, 5 Series Graz (M agna Steyr 2), Austria Production of M INI Countryman
1 Joint
Dingolfing, Germany Production of BM W 5, 6, 7 Series Spartanburg, USA Production of BM W X3, X5, X6 Regensburg, Germany Production of BM W 1, 3 Series, Z4 Leipzig, Germany Production of BM W 1 Series, X1 Oxford, UK Production of M INI Assembly Plants
343.2 276.1 260.0 199.2 191.5 37.5
172.9 53.2 3.7 98.2 102.7
venture 2 Contract production

Page 88
INVESTING IN THE GLOBAL PRODUCTION NETWORK.
Germany
USA
China
India
UK
Page 89
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 90
CORPORATE SUSTAINABILITY HAS A LONG HISTORY AT BMW GROUP.

1973: First Environmental Officer in the Automotive Industry. 2000: Executive Board Resolution Sustainability is the guiding principle of the BMW Group corporate strategy. 2009: Establishment of a Sustainability Circle and Board; corporate sustainability is established as corporate target.
1997
2001
2007
2008
2011
Dr. Norbert Reithofer, CEO of BMW AG:

Sustainability throughout the value added chain is inseparable from our corporate self-image. That is why we choose to take responsibility. Because of our convictions, but also our self-interest, now and in the future.
UNDERSTANDING AND STRATEGY OF SUSTAINABLE BUSINESS AT BMW GROUP.

Objective:
TO BE THE MOST SUSTAINABLE COMPANY IN THE AUTOMOTIVE INDUSTRY Key issues: ECOLOGY Product responsibility Efficient Dynamics Group-wide environmental Protection Clean Production SustainabilityManagement: Basic Belief: ECONOMY Shareholder value Risk Management Corporate Governance and Compliance
Sustainability-based decisions Evaluation of the value chain
SOCIAL Responsibility towards employees Value orientation in the supply chain Social commitment
Transparent Communication
Environmental radar
We regard sustainability as a lasting and positive contribution towards the economic success of the company. This is the basis of our ecological and social responsibility. We consider awareness of social responsibility as an inseparable part of our corporate selfconception.
Page 92
MOST IMPORTANT RATINGS / RANKINGS SHOW THAT BMW GROUP IS THE INDUSTRY LEADER IN SUSTAINABILITY.
Dow Jones Sustainability Index World and Dow Jones Sustainability Index Europe: Industry leader since 2005 and the only automotive company continuously listed since 1999. Carbon Disclosure Project: Industry leader of the Carbon Performance Leadership Index 2011.
FTSE4Good: listed in FTSE4Good and FTSE4Good Environmental Index.
Oekom: Corporate Responsibility Rating oekom 2011, Status Prime. Sustainaltytics: 1st place in "DAX 30 Nachhaltigkeitsrating in 2011. STOXX Global ESG Leaders: listed in the STOXX Global ESG Leaders, STOXX Global ESG Environmental Leaders and STOXX Global ESG Social Leaders. KOTREND: certificate for outstanding corporate responsibility (most points in the automotive industry) in 2011.
COMMITMENTS AND GUIDELINES OF BMW GROUP.

The BMW Group complies with: -The Global Compact and its ten principles -The Cleaner Production Declaration of the UN Environmental Programme (UNEP)
In addition, the BMW Group is guided by: -The agreements of the International Labour Organisation (ILO) -The OECD guidelines for multinational companies -The Business Charter for Sustainable Development of the International Chamber of Commerce (ICC) BMW Group assumes responsibility (Strategy NumberONE 09/2007):
For its products As an industrial enterprise As an active corporate citizen Within the company Clean Mobility: zero-emissions driving Responsible use of natural resources Corporate Citizenship activities Basic principles
Page 94
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 95
EFFICIENTDYNAMICS OUR WAY TO REDUCE CO2.
Page 96
SHORT-, MID- AND LONG-TERM SOLUTIONS.
Engine technology
Intelligent light weight construction
Aero-dynamics
Intelligent energy management systems, Active Hybrid
Alternative energies: Hydrogen, Electricity
short-term
mid-term
long-term
Page 97
TAILOR-MADE ENERGY MANAGEMENT PACKAGES.

High Precision Injection. Common Rail High Pressure Injection.
Electric water pump. Decoupled A/C compressor.
Gear shift indicator.
Auto Start Stop function.

ECO Mode.
Controlled fuel pump.

Controlled oil pump.
Electric steering.
Aerowheels. Air Curtain. Active aerodynamics with cooling air flap system.
Tires with reduced rolling resistance. Break energy regeneration.
Page 98
THE NEW BMW 118i IN COMPARISON TO ITS PREDECESSOR.

Consumption Output 125kW/ 170hp + 19 %
- 15 %
5.6l /100km; 131g CO2

EFFICIENTDYNAMICS IN THE NEW BMW 3 SERIES.
High-efficiency petrol and diesel engines

Eight-speed automatic transmission Brake Energy Regeneration Disengageable air conditioning compressor
ECO PRO mode

Six-speed manual transmission Optimum Shift Indicator Auto Start-Stop function
Needs-based operation of ancillary components

Air Curtain for improved air flow around the front wheels
Intelligent lightweight design
Cd = 0.26
Flow-optimised underbody structure
Page 100
EFFICIENTDYNAMICS IN THE NEW BMW 3 SERIES.
Page 101
THE NEW BMW X1 BMW X1 xDRIVE 28i WITH TWIN POWER TURBO.
BMW X1 xDrive28i (six-cylinder) VALVETRONIC. Double-VANOS. BMW X1 xDrive28i (four-cylinder) BMW TwinPower Turbo technology. Petrol direct injection (High Precision Injection). VALVETRONIC. Double-VANOS. 180 / 245 350 -5% + 13 %
Output [kW/hp] Torque [Nm] Acceleration 0-100 km/h [s] Top speed [km/h] Fuel consumption1) [l/100 km] CO2 emissions [g/km] Exhaust standard
190 / 258 310 6.8 230 9.4
6.1
240 7.9 183 EU5
- 0.7 seconds
+4% - 16 % - 16 % EU5
Page 102
219
1) BMW Group Investor Presentation, AugustAverage 2012 fuel consumption in the EU test cycle.
THE BMW GROUP 120g FLEET.

In spring 2012 already 30 BMW Group models come with a maximum 120 g CO2/km.
Fuel consumption figures: litres/100 km in EU test cycle, CO2 figures: g/km. * EfficientDynamics Edition. BMW Group Investor Presentation, August 2012 Page 103
THE BMW 140g FLEET.

In spring 2012 already 40 BMW models come with a maximum 140 g CO2/km.
Fuel consumption figures: litres/100 km in EU test cycle, CO2 figures: g/km. * EfficientDynamics Edition. BMW Group Investor Presentation, August 2012 Page 104
THE MINI140g FLEET.

In spring 2012 already 33 MINI models come with a maximum 140 g CO2/km.
Fuel consumption figures: litres/100 km in EU test cycle, CO2 figures: g/km. BMW Group Investor Presentation, August 2012 Page 105
50 PER CENT REDUCTION IN CO2 EMISSIONS 1995-2020. 50 PER CENT REDUCTION IN CO2 EMISSIONS 1995-2020
BMW GROUP FLEET 1995 > 200 CO2 g/km
BMW GROUP FLEET 2011 145 CO2 g/km
2020 TARGET FOR TOTAL EU FLEET 95 CO2 g/km*

*Value for the BMW Group fleet 100-110 CO2 g/km
Page 106
THE NEW BMW EFFICIENTDYNAMICS ENGINE FAMILY - SCALABILITY OF BASIC DESIGN OF ENGINE FAMILY ALLOWS A BROADER APPLICATION ACROSS VEHICLE PROJECTS AND TECHNOLOGIES.
New Engine Family
Vehicles
Technologies
Page 107
THE NEW BMW EFFICIENTDYNAMICS ENGINE FAMILY HIGH LEVELS OF COMMONALITY BETWEEN AND WITHIN DIESEL AND GASOLINE ENGINES.
Cylinders (inline)
-3
-4
-6
Common parts shared within gasoline or diesel engines is approx. 60%.
Gasoline
60 %
Between the gasoline and diesel engines there is a 40% sharing.
Diesel
60 %
40 %
Page 108
THE NEW BMW EFFICIENTDYNAMICS ENGINE FAMILY MODULAR STRATEGY.

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
Page 109
NEXT STEPS PREDICTIVE ENERGY MANAGEMENT.

Predictive Energy Management
Merging all available sensor information Prediction of upcoming situations Optimized vehicle conditioning
Brake Energy Regeneration Heatmanagement Auto Start Stop Function Green Routing / Driver assistence Aerodynamics
ACC
Navigation Camera Light/Rain Sensor PDC DSC
Air conditioning
DME
Page 110
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 111
VALUE ORIENTATION.
Automotive: Return on Capital Employed Vehicle projects: Model return based on DCF
Motorcycles: Return on Capital Employed Vehicle projects: Model return based on DCF
Financial Services: Return on Equity Finance & lease portfolio: Cash flows
Page 112
EFFECTS ON AUTOMOTIVE SEGMENTS EARNINGS IN 2011.

in euro million +3,143
Volume/ Mix/Market
Number ONE +24

Depreciation
-247
HR
+520
-468
Future Investments
+85
Residual values Efficiency measures
7,477
+92
-27
Other operating income expenses
4,355
Net effects FX/ Raw material
EBIT 2010 EBIT margin 8.0%

EBIT 2011 +11.8%

Page 113
EBIT MARGIN DEVELOPMENT AUTOMOTIVE SEGMENT.

in %
16 15 14 13 12 11 10 9 9.0 8.8 8.1 7.9 7.8 6.7 6.4 6.4 8.0 9.2 14.4
11.9
11.9
11.8
11.6
11.6
8
7 6 5 4 3 2 1 0 -1 -2
1.4
-0.6 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q1- Q2- Q3- Q4- 2011 Q1- Q22011 2011 2011 2011 2012 2012
Page 114
NET INTEREST-BEARING ASSETS AUTOMOTIVE SEGMENT.

31.12.2011
in euro million
+ 4,553
Internal net financial Receivables from Other Entities Segment Financial liabilities
+1,851
-1,747 12,287
+ 1,801 + 5,829
Marketable securities Cash and cash equivalents Internal net financial Receivables from Financial Services Segment
Net interestbearing assets
30.06.2012
in euro million
3
+ 4,931
+1,261
Internal net financial Receivables from Other Entities Segment
-2,550
+ 2,190 + 6,358
Marketable securities Cash and cash equivalents
BMW Group Investor Presentation, August 1 2 2012
Financial liabilities
12,190
Internal net financial Receivables from Financial Services Segment Net interestbearing assets
Page 115
OPERATING CASH FLOW AND FREE CASH FLOW AUTOMOTIVE SEGMENT.

9,000 8,000 7,077
in euro million
8,149
7,000
6,000 5,000 4,000 3,000
6,246
4,921 4,471 4,471
2,608 2,147 2,133* 1,456 197 1,352
2,000 1,000 0 2007 -1,000 -2,000 2008 -81 2009 -754
2010
2011
Cash inflow from operating activities
Free Cash Flow including net investments in securities
Free Cash Flow before net investments in securities
* Figures as reported. The Free Cash Flow in the Automotive segment adjusted for a capital increase in BMW Bank (Q2-11: 625 million), the pro-rated acquisition of the ING Car Lease-Group (Q3-11: 249 million) and the purchase of SGL Carbon shares (Q4-11: 487 million) totaled 3,494 million BMW Group Investor Presentation, August 2012 Page 116
CAPITAL EXPENDITURE.
6,000
in euro million
12.0%
5,000
3,993
8.6%
4,313 8.8%
1,536
10.0%
4,267
1,333 7.6%
4,204
1,224 7.9%
4,000
3,471
6.8% 1,087
1,396
3,692 3,263
951
5.4% 972 5.4% 2,720
8.0%
3,000 2,597 2,000 2,777 2,934
2,980 2,384 2,312
6.0%
4.0%
1,000
2.0%
0 2005 2006 2007 2008 2009 2010 2011 Capital expenditure in property, plant equipment and intangible assets
0.0%
Capitalized development costs

Capital expenditure ratio
RESEARCH & DEVELOPMENT COSTS.

47.9% 44.8% 7% 6.7% 6% 5% 4% 3% 10% 2% 1% 2005 2006 2007 2008 2009 2010 Capitalisation Ratio 2009 2,587 2,448 2010 3,082 2,773 2011 3,610 3,373 Page 118 2011 R&D Costs (IFRS) / Revenues in %
in euro million
8%
50% 42.4% 42.8% 44.4%
40%
6.5% 5.6% 34.3% 28.8% 5.1% 4.8% 5.1% 4.6% 5.2% 4.9% 20%
5.3%
5.2%
5.2%
5.3%
5.4%
30%
0% R&D Costs (HGB ) / Revenues in % 2006 2,544 3,208 2007 2,920 3,144 2008 2,825 2,864
2005 2,464 3,115
Research & Development Costs (IFRS) Research & Development Costs (HGB) BMW Group Investor Presentation, August 2012
CONTENT.
7
8 9 10
Sustainability
Financial Services
Page 119
GLOBAL FUNDING OBJECTIVES.
Financial Flexibility
Ensure sustainable access to international financial markets. Explore and maintain presence and competence in all strategic important capital markets worldwide.
Financial Independence
Ensure independence from individual lenders, banks and financial Instruments. Diversification of funding sources, investors and products.
Value Orientation
Create value by optimizing financing costs on overall Group basis. Credit spread management for each financial instrument. Ensure long-term, strategic perspective (instrument mix).
The different objectives are interdependent and of equal importance.
Page 120
CORPORATE FINANCE CAPABILITIES.

Categories of available instruments over the spectrum of maturities:
<1yr 1yr (EMTN) PPs ABS - Term 2yrs 3yrs Bonds Retail Institutional 4yrs 5yrs 7yrs 10yrs+
CP ABCP
Customer Deposits / Brokered CDs
Bank Loans
CP Attractive and flexible shortterm funding. Deposits: Diversification of funding instruments and investors (EMTN) Private Placements Attractive funding source. Effective management of spreads provides support for the short end of the BMW Credit Curve. ABS ABS supports investor diversification. Bank Loans Local source of funding, mainly where access to capital markets is limited. Retail Diversification of investor base. Limited potential of opportunistic access. Institutional Highest liquidity and depth of the market, i.e. highest funding potential. Typical for Benchmark bonds. Creation of a BMW Credit Spread Curve.
Page 121
ISSUING PROGRAMS.
EUR 35bn EMTN-Program

BMW AG BMW Finance N.V. BMW US Capital, LLC BMW Australia Finance Limited BMW Japan Finance Corp.
EUR 5bn ECP-Program BMW AG BMW Finance N.V. BMW Coordination Center V.O.F. BMW Malta Finance Ltd
EUR 2bn FCP-Program BMW Finance N.V. USD 7bn USCP-Program BMW US Capital, LLC
EMTN Program as main mid- to long-term refinancing program with commercial paper programs to cover short-term liquidity needs. All issuing programs carry an unconditional guarantee from BMW AG.
Page 122
BROAD INVESTOR BASE.

Offshore US Euro Capital Markets
USD (EMTN) PPs

USA USD Extendible Notes USD Commercial Paper USD US PP USD ABS Canada CAD ABS CAD (EMTN) PPs Great Britain
EUR Commercial Paper French Commercial Paper

EUR (EMTN) PPs EUR Benchmark Bonds USD Eurodollar AUD Euroaussie NOK (EMTN) Bonds SEK (EMTN) Bonds EUR ABS Japan JPY (EMTN) PPs JPY Euro-Yen JPY ABS Hong Kong RMB (EMTN) PP HKD (EMTN) PP Australia AUD (EMTN) PP AUD ABS
GBP Commercial Paper

GBP (EMTN) PPs GBP Bonds GBP ABS
CAD Domestic Bonds

Mexico MXN (EMTN) PP
Switzerland CHF (EMTN) PPs CHF Bonds
South Africa ZAR ABS ZAR Domestic Bonds
Funding is done worldwide to optimize refinancing costs and to establish a broad investor base.
DEVELOPMENT OF BMW GROUP LIQUIDITY.

14 12 Cash & cash equivalents
in euro billion
Marketable securities & investment funds
11.9 1.1 10.1 0.8 8.2 0.7 5.4 1.9 9.9 1.5 9.4 1.6 9.7 9.7 1.7 9.0 1.6 9.1 1.7 10.9 10.1 2.4 2.3
12.0 2.7 10.8 2.7
10
8 6 4 2 0
1.7
8.7
1.6
8.6
1.5
4.8 2.1
4.9 1.2 7.5
10.8 9.3 8.4
7.8
8.0
8.0
7.1
7.4
7.1
7.5
8.5
9.3 7.8
8.1
3.5
2.7
3.7
Q1-08 Q2-08 Q3-08 FY-08 Q1-09 Q2-09 Q3-09 FY-09 Q1-10 Q2-10 Q3-10 FY-10 Q1-11 Q2-11 Q3-11 FY-11 Q1-12 Q2-12
After significantly increasing liquidity during the economic and financial crisis, the BMW Group continues to maintain a solid liquidity position.
DEVELOPMENT OF 5-YEAR CDS.

500 bps
400
300
200
100
0 Jan 07
Jul 07
Jan 08
Jul 08
Jan 09
Jul 09
Jan 10
Jul 10
Jan 11
Jul 11
Jan 12
Jul 12
Source: Reuters Credit Views as of 07/31/2012
Page 125
BOND AND PRIVATE PLACEMENT MATURITIES.

8,000
in euro million
Issuance
Maturities
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Maturities based on nominal values excluding derivatives.
Page 126
BMW GROUP AVERAGE COMMERCIAL PAPER OUTSTANDING PER QUARTER.

9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Q1 05 Q2 05 Q3 05 Q4 05 Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 in USD million
Page 127
ABS VOLUMES 1997- H1- 2012.

4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 1997 1998 USA 1999 2000 2001 Japan 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 # Deals 2012 GB Australia South Africa Germany Canada 2 12
Volume in euro million
# of deals
10
BMW Group has actively used asset-backed funding over the last 13 years.
REGIONAL FOCUS OF ABS ACTIVITIES.

USA: BMW Group is an established participant in the US ABS market Over USD 20bn of loan, lease and wholesale assets securitized over the last 10 years ABCP and ABS term financing used Europe: BMW Group executed its first public ABS transaction in Europe in 2007 (800m German lease ABS)
Besides, ABCP funding is used in the UK and Germany.

BMW Group aims to establish itself as a regular and respected player in the European ABS market.
RoW: BMW Group uses ABS funding very actively in Australia, Canada, Japan and South Africa Mainly used as local and opportunistic funding alternative
US and Europe are strategic ABS Markets for the BMW Group.
FINANCIAL DEBT AS OF JUNE 30, 2012.

EUR 66.2 bn* Structured finance Bank loans 4% 6% SSD 6% Customer deposits Debt Maturity 1 year
13% 46% 7%
47 %
(48%**)
53 %
(52%**)
Brokered CDs
Bonds / PPs Others 1%
14%
ABS
Commercial Paper 3% > 1 year

** comparative figures as of 31 December 2011
*Adjusted, excluding currency and interest rate derivatives.
BMW Group maintained a well-diversified debt structure. The average maturity of financial liabilities is approximately 2.0 years.
FUNDING ACTIVITY IN 2011 AND 2012.

Canadian Lease Conduit , 11 September 2011, CAD 683mn Japanese Loan Conduit, 30 March 2012, JPY 20bn USD 1.0bn Public Lease Deal, 19 April 2012 South African Public Loan Deal, 30 April 2012, ZAR 1.5bn German Public Lease Deal, 18 July 2012, EUR 800mn Australian Loan Conduit, 20 July 2012, AUD 600mn
ABS
Bonds
SEK 1.0bn bond, 3 year term, settlement 27 June 2011 (3.75% coupon) EUR 1.0bn benchmark, 6.5 year term, settlement 29 July 2011 (3.625% coupon) CHF 300mn, 6 year term, settlement 29 June 2011 (1.75% coupon) EUR 2.5bn dual tranche benchmark bond, settlement 13 January 2012: EUR 1.25bn, 3 year term (2.125% coupon) EUR 1.25bn, 7 year term (3.25% coupon) GBP 750mn bond, 6.9 year term, settlement 02 February 2012 (3.375% coupon) CAD 450mn dual tranche benchmark bond, settlement 09 February 2012: CAD 250mn, 3.5 year term (2.64% coupon) CAD 200mn, 4.5 year term (2.88% coupon) EUR 750mn benchmark, 4 year term, settlement 30 July 2012 (1.25% coupon) Issuance 2011: EUR 2.9bn Issuance 2012 YTD: EUR 1.3bn Constant issuance in different currencies (EUR, JPY, AUD, SEK, USD, CHF, HKD, CNY)
Private Placements Schuldschein
A total amount of EUR 1bn was issued in 2011 Issuance 2012 YTD: EUR 140mn
EUR 1.7bn outstanding as of July 31, 2012
Commercial Paper
Page 131
BMW GROUP INVESTOR RELATIONS CONTACTS.

Torsten Schssler Head of Investor Relations
Phone: +49-89-382-25387 Email: torsten.schuessler@bmw.de
Bernd Daser Equity IR

Phone: +49-89-382-31684 Email: bernd.daser@bmw.de
Helge Jorch Equity & SRI IR

Phone: +49-89-382-24272 Email: helge.jorch@bmw.de
Nathan Kohlhoff Debt & Equity IR

Phone: +49-89-382-49427 Email: nathan.kohlhoff@bmw.de
Carina Wollmann SRI IR

Phone: +49-89-382-21378 Email: carina.wollmann@bmw.de
Page 132

InvestorPresent August 2012

Enviado por

Dados do documento

Descrição original:

Direitos autorais

Formatos disponíveis

Compartilhar este documento

Compartilhar ou incorporar documento

Opções de compartilhamento

Você considera este documento útil?

Este conteúdo é inapropriado?

Direitos autorais:

Formatos disponíveis

InvestorPresent August 2012

Enviado por

Direitos autorais:

Formatos disponíveis

August 2012

BMW Group Investor Presentation, August 2012

FIRST HALF 2012 RESULTS.

H1-2012 37,495 4,402 3,899 85 867 27

H1-2011* 33,925 4,597 4,116 78 1,142 38

Change in % 10.5 -4.2 -5.3 9.0 -24.1 -28.9

Financial Services Segment

BMW Group Investor Presentation, August 2012

BMW Group Investor Presentation, August 2012

BMW GROUP. STRATEGY NUMBER ONE.

BMW Group Investor Presentation, August 2012

BMW Group Investor Presentation, August 2012

THE WAY AHEAD NUMBER ONE.

Number ONE defines

BMW Group Investor Presentation, August 2012

TECHNOLOGICAL CHANGE TURNING A CHALLENGE INTO AN OPPORTUNITY.

EVOLUTION Efficient combustion engines Innovative technologies

Segment Financial Services

DEVELOPMENT OF R&D RATIO.

R&D ratio: R&D Expenditure (HGB) / Revenues

DEVELOPMENT OF CAPEX RATIO.

9.8% 8.8% 8.6%

7.9% 7.6% 6.8% Target: <7.0%

Capex ratio: Total Capex / Revenues

USE OF STANDARDIZED ARCHITECTURES AND MODULAR SYSTEMS.

BMW Group Investor Presentation, August 2012

MATERIAL COST OFFENSIVE: ACROSS ALL MODEL SERIES.

Material cost offensive

Between the gasoline and diesel engines there is a 40% sharing.

BMW Group Investor Presentation, August 2012

BMW Group Investor Presentation, August 2012

PRIORITY ON GROWTH MARKETS.

BMW Group Investor Presentation, August 2012

NUMBER OF MILLIONAIRES IN THE ESTABLISHED AND BRIKT MARKETS.

0 Brazil Russia India Turkey South Korea

BMW Group Investor Presentation, August 2012

BMW GROUPS CHINA STRATEGY FOCUSES ON DYNAMIC AND PROFITABLE GROWTH.

BMW GROUP IN CHINA.

Further expansion of plants in Shenyang, engine assembly

BMW Group Investor Presentation, August 2012

BMW AND MINI RETAIL DEVELOPMENT IN MAINLAND CHINA.

90.5 65.8 51.6

0 2005 2006 2007 2008 2009 2010 2011 2012 YTD

BMW AND MINI RETAIL MIX IN CHINA H1-2012.

1 series: 6.0% X1: 9.1%

URBANIZATION IN CHINA ONGOING POTENTIAL.

cities population >10 million

Beijing 16.5 million

Tianjin 11.5 million Shanghai 18.5 million

cities population 5-10 million

cities population 1-5 million

CHINA PREMIUM SEGMENT DEVELOPMENT.

CAGR 2011-2020: 11.3%

1,500 annual growth rate 1,000

315 BMW AND 70 MINI DEALER OUTLETS IN OPERATION BY JUNE 2012.

Outlet East North South West Total

BMW 101 88 72 54 315

BMW Group Investor Presentation, August 2012

BMW BRAND RANKS 3rd GLOBALLY AND 1st IN CHINA.

The Brand Desire International Top 10:

The Brand Desire in China Top 10: 01 BMW

BMW Group Investor Presentation, August 2012

DEVELOPING BMW FINANCIAL SERVICES CHINA.