105 BMW Group Report 2024 To Our Stakeholders Combined Management Report Group Financial Statements Responsibility Statement and Auditor’s Report Remuneration Report Other Information Sustainability Statement No material risks or opportunities have been identified for which there is a significant probability of occurrence in 2025 that would result in a material adjustment to the carrying amounts of the as- sets and liabilities recognised in the corresponding financial statements. STAKEHOLDER ENGAGEMENT The BMW Group attaches great importance to regular, frank and transparent dialogue with its stakeholders. The goal is to build trust, increase transparency and awareness, and facilitate the transfer of knowledge by providing information and opportunities for dialogue. To this end, the Company revised its ↗ Stakeholder Engagement Policy in 2024, and in doing so also reviewed and redefined its key stakeholders. A distinction is made between affected stakehold- ers and users of sustainability statements. In addition, the indi- vidual stakeholders are summarised in stakeholder groups. Stakeholders are affected directly or indirectly by our business activities, while users of sustainability statements mainly include consumers of general reporting – for example, investors or busi- ness partners. The BMW Group promotes the exchange of ideas and infor- mation with stakeholders in all of its business activities and main- tains an ongoing dialogue with them in individual discussions, at conferences, or in response to specific queries. Material sustain- ability-related topics such as climate change, biodiversity or the transition to a circular economy, as well as working conditions in their own business area or other employee-related topics, are also discussed. The form of engagement taken depends on the initial situation. In addition to specific dialogues and interactions with stakeholders, for example during London Climate Week, the BMW Group also regularly participates in public and political dis- cussions and engages in intensive dialogue with capital market participants. This approach helps to establish lasting relation- ships, to inform the BMW Group about its impacts on (affected) stakeholders and to enhance processes for future stakeholder engagement activities. Incorporating a range of external view- points and expectations helps further develop the strategy » The BMW Group Strategy and promotes the innovative strength of the BMW Group. The BMW Group uses the feedback and results from its stake- holder engagement in its environmental and trend analyses, which are in turn incorporated into the development of its corporate and business department strategies. To this end, the HR strategy is reviewed annually using a comprehensive internal and external analysis of the environment and the company, and adjusted accordingly as and when required. Market research, a component of the corporate strategy, is conducted in the form of global surveys to determine customer needs and expectations. The findings from these and other surveys and analyses, includ- ing input from experts, form the basis for strategic recommenda- tions for the entire Company, individual departments and BMW Group brands. The Board of Management keeps itself regularly informed at its meetings on feedback from stakeholders and their views, either by means of separate documents or via direct dialogue with stakeholders such as investors or political decision makers. Brief- ings by in-house departments supplement the information pro- vided to the Board of Management, especially before attending major events such as OECD conferences or Annual General Meetings. The Chairman of the Supervisory Board of BMW AG also maintains regular contact with stakeholders. Moreover, the members of the Supervisory Board of BMW AG attend the An- nual General Meeting of BMW AG, and also interact with stake- holders as part of their other activities and mandates. The BMW Group also takes account of its most important exter- nal stakeholders in its materiality assessment. For further infor- mation, see ↗ Procedure and methodological basis for the materiality assessment. As one of its most important stakeholder groups, the BMW Group’s workforce plays an active role in shaping the Com- pany’s future direction. The BMW Group conducts a company- wide employee survey every two years to measure the perfor- mance of the organisation and the general mood among its workforce. Employees also have a key opportunity to participate through the company ideas management system, which can be used to submit ideas outside of their area of responsibility. The due diligence processes for respecting human rights and related environmental standards apply to our own business, our suppli- ers, and our other business partners. ↗ Collective bargaining coverage and social dialogue