20 BMW Group Report 2024 To Our Stakeholders Combined Management Report Group Financial Statements Responsibility Statement and Auditor’s Report Remuneration Report Other Information Report of the Supervisory Board Review of financial statements and the profit distribution proposal PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC) was appointed ex- ternal auditor for the financial year 2024. PwC initially conducted a review of the condensed Interim Group Financial Statements and the Interim Group Management Report for the first half of 2024 and presented its results to the Audit Committee. No issues were identified which might indicate that the condensed Interim Group Financial Statements and Interim Group Management Report had not been prepared in accordance with the applicable provi- sions in all material respects. The Company Financial Statements and the Group Financial Statements of BMW AG for the financial year ended 31 December 2024, including the Combined Management Report, on which PwC has issued unqualified audit opinions, were authorised by the Board of Manage- ment on 11 March 2025. These audit opinions were signed for the first time by Ralf Räpple and, for the third time in succession, by Michael Popp as the independent auditor (Wirtschaftsprüfer) responsible for the performance of the engagement. At its meeting held on 27 February 2025, the Audit Committee initially discussed thor- oughly the preliminary version of the Company and Group Financial Statements and the Combined Management Report (including the combined Non-financial (Group) Statement and the information on the EU Taxonomy) as well as the draft versions of the auditor’s long- form reports. Immediately after authorising their issue, the Board of Management submitted the Com- pany and Group Financial Statements for the financial year 2024 and the Combined Man- agement Report (including the Combined Non-financial (Group) Statement) to the Supervi- sory Board. The auditor’s long-form audit reports were also submitted to the Supervisory Board in a prompt manner. The Supervisory Board had previously received these docu- ments in draft form in advance to allow for thorough preparation. At its meeting held on 12 March 2025, the Audit Committee diligently examined and delib- erated on these documents before they were considered thoroughly at the Supervisory Board’s plenary session on 13 March 2025. At the two respective meetings, the Board of Management provided a detailed explanation of the reporting documents submitted to the Audit Committee and the Supervisory Board. The representatives of the external auditor reported on the main results of their audit and answered questions put to them by members of the Audit Committee and the Supervisory Board, partially without the members of the Board of Management being present. Both the Audit Committee and the Supervisory Board gave meticulous consideration to the key audit matters and the related audit procedures. The representatives of the external auditor confirmed that the Risk Management System established by the Board of Management is suitable for the early detection of developments that could threaten the Company’s going-concern status. They also confirmed that no ma- terial weaknesses in the Internal Control System and Risk Management System were identi- fied with regard to the financial reporting process. In the course of their audit work, they did not identify any facts inconsistent with the contents of the Declaration of Compliance pursu- ant to § 161 of the German Stock Corporation Act (AktG) jointly issued by the Board of Management and the Supervisory Board. Based on a thorough examination conducted by the Audit Committee and the Supervisory Board, we concurred with the results of the external audit. In accordance with the final result of this examination, no objections were raised. At our meeting held on 13 March 2025, we accordingly approved the Group and Company Financial Statements of BMW AG for the fi- nancial year 2024. The Company Financial Statements for the year ended 31 December 2024 have therefore been adopted. Furthermore, in both the Audit Committee and the Supervisory Board, we examined the Board of Management’s proposal to use the unappropriated profit to pay a dividend of € 4.30 for each share of common stock entitled to receive a dividend and € 4.32 for each share of preferred stock entitled to receive a dividend and to transfer the remaining amount to other revenue reserves. We consider the proposal appropriate and have therefore ap- proved it. The Audit Committee and the Supervisory Board also carefully examined the combined Non-financial (Group) Statement for the year ended 31 December 2024. Following an in- depth explanation of the statement by the Board of Management, representatives of the auditor PwC presented the key results of their assurance engagement and answered ques- tions posed by members of the Supervisory Board. PwC performed a “limited assurance” engagement with respect to the Combined Non-financial (Group) Statement integrated into the Sustainability Report chapter of the Management Report. Specific key indicators dis- closed in the Sustainability Report were audited to a “reasonable assurance” level. An Inde- pendent Practitioner’s Report with an unqualified assurance opinion was issued on the Non-financial Statement, signed for the first time by the independent auditor Ralf Räpple (Wirtschaftsprüfer) and for the third time in succession by the independent auditor Michael Popp (Wirtschaftsprüfer). The Supervisory Board acknowledged and approved the com- bined Non-financial (Group) Statement drawn up by the Board of Management. The Supervisory Board drew up the Remuneration Report for the financial year 2024 to- gether with the Board of Management in accordance with § 162 AktG, after preparatory work performed by the Remuneration Committee. Going beyond the formal review required by law, the Audit Committee also engaged PwC to audit the contents of the Remuneration Report. In line with the newly defined responsibilities, representatives of the auditor reported