INVESTOR RELATIONS CENTER
SAP SE
Analyst Coverage
| Institut | Analyst |
| Arete Research Services LLP | Shepherd, Adam J. |
| Baader Bank AG | Woller, Knut |
| Bank of America | Boulan, Frederic |
| Barclays Capital | Merkt, Sven |
| Barclays Capital Inc. | Lenschow, Raimo |
| BERNSTEIN Societe Generale Group | Moerdler, Mark L. Nguyen, Richard |
| BMO Capital | Bachman, Keith |
| China International Capital Corporation (CICC) | Li, Hongjie |
| Citi Research (Europe) | Tirupati, Balajee |
| Cowen & Co. | Wood, Derrick |
| Deutsche Bank | Schaller, Johannes |
| DZ Bank AG | Kremser, Armin |
| Edward Jones | Miedler, Andrew T. |
| Evercore Partners | Materne, Stewart K. |
| Exane BNP Paribas (UK) | Castillo Bernaus, Ben |
| Goldman Sachs International | Moawalla, Mohammed E. |
| HSBC Securities (France) | Baudry, Antonin |
| Jefferies | Brennan, Charles |
| JMP Securities LLC | Walravens, Patrick D. |
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