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Integration Italy. Illustration of the Integration Steps for Italy (I).

. Integration Italy. Illustration of the Integration Steps for Italy (I). Sale of 75% of the shares in Alphabet Italia SPA to BMW Italia SPA. Sale of 68% of the shares in BMW Financial Services Italia SPA to BMW Bank GmbH. 2. 1. BMW AG. BMW AG. 100%. 100%. 100%. 100%.

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Integration Italy. Illustration of the Integration Steps for Italy (I).

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  1. Integration Italy. Illustration of the Integration Steps for Italy (I). Sale of 75% of the shares in Alphabet Italia SPA to BMW Italia SPA Sale of 68% of the shares in BMW Financial Services Italia SPA to BMW Bank GmbH 2 1 BMW AG BMW AG 100% 100% 100% 100% BMW INTEC Beteiligungs GmbH BMW Bank GmbHinkl. NL BMW INTEC Beteiligungs GmbH BMW Bank GmbH 100% 100% BMW Holding BV BMW Finance NV BMW Holding BV BMW Finance NV 68% 100% 100% Loan BMW Italia SPA „BMW Italia“ BMW Italia SPA „BMW Italia“ 68% 32% 75% 100% 68% 100% Alphabet Italia SPA BMW Financial Services Italia SPA „FS Italy“ Alphabet Italia SPA BMW Financial Services Italia SPA „FS Italy“ 32% Group of institutions Loan Nov 2, 2009 July 1, 2010

  2. Italian Branch Integration Italy. Illustration of the Integration Steps for Italy (II). Sale of 32% of the shares in BMW Financial Services Italia SPA to BMW Bank GmbH 3 Merger of FS Italy into BMW Bank and creation of a branch 4 BMW AG BMW AG 100% 100% 100% 100% BMW INTEC Beteiligungs GmbH BMW Bank GmbH BMW INTEC Beteiligungs GmbH BMW Bank GmbH 100% BMW Holding BV 32% Loan 100% BMW Finance NV BMW Financial Services Italia SPA „FS Italy“ 2010 / 2011 / 2012 (tbd)

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