+++ NEUE KLASSE to be released in 2025, local production in Shenyang for China from 2026 +++ BBA to invest RMB 10 billion in construction of assembly plant for sixth-generation high-voltage batteries in China +++ Global production network for high-voltage batteries based on “local for local” principle +++

Shenyang. To mark the 20th anniversary of the BMW Brilliance Automotive Ltd. (BBA) joint venture, Milan Nedeljković, member of the Board of Management of BMW AG responsible for Production, today announced local production of the NEUE KLASSE in China. Following the market launch in 2025, models of the next vehicle generation will also be produced from 2026 onwards by BBA in Shenyang. The high-voltage batteries required for this will likewise be manufactured locally. The virtual ground-breaking for a new assembly site for high-voltage batteries also took place as part of the anniversary celebrations. BBA is investing RMB 10 billion in the new location, which will produce battery cells for the next, sixth generation of high-voltage batteries from 2026 onwards. The “Sixth-Generation Battery Project” will play a key role in production of vehicles for the NEUE KLASSE and create around 2,000 new jobs in the region.

“From a small assembly facility with a limited number of units, our plants in Shenyang have developed into our largest production location worldwide. Today, 20 years after our joint venture’s initial start of production, I am delighted to announce local production of the NEUE KLASSE in China,” declared Milan Nedeljković in Shenyang. “Integration of the NEUE KLASSE into our production in China goes hand in hand with construction of a high-voltage battery assembly for the next, sixth generation of batteries and will make a significant contribution to further electrification of our lineup and, therefore, to our success as a company.”

+++ Speech Oliver Zipse, Chairman of the Board of Management of BMW AG +++ General Annual Meeting +++ Munich, 11 May 2023, 10.00 a.m. CEST +++

We move body, heart and mind. The BMW Group – your company,

Dear Shareholders! Today is one of the days of the year that I particularly look forward to. At our Annual General Meeting, we stand before you, to answer your questions.  Of course, you want to know: what are we accomplishing at Team BMW Group – and, most importantly: What are our plans?  You are invested in a company with ambitious goals. Thanks to our focus and determination, you can rely on us to realise our plans – in the short, medium and long term, year in, year out. That is what you expect from us – and we deliver!

+++ Zipse: “Our compelling products inspire customers all over the world” +++ Group EBT margin at 13.9% +++ Automotive EBIT margin climbs to 12.1% +++ Free cash flow of around € 2 billion in Auto Segment +++ Sales of BMW BEVs up 112% +++ 2023 Guidance confirmed in continuing volatility +++

Munich. With its fresh and attractive portfolio and a strong product mix, the BMW Group continued on its successful course in the first quarter of 2023. The company’s strong operating performance was confirmed by its margins: The Group EBT margin for the three-month period came in at 13.9%, while the EBIT margin for the Automotive Segment increased to 12.1%. The BMW Group’s operating financial strength is also reflected in the free cash flow of € 1,981 million in the Automotive Segment.

With its popular premium vehicles, the BMW Group benefited from positive development in many automotive markets and from continued stable pricing for both new and used cars. Sales momentum came from the electrified product line-up as well as models of higher classes, which are among the youngest in the market. Sales of BMW BEV models more than doubled to 55,979 deliveries (2022: 26,362 units/+112.3%).