SAP SE

Investor Presentation • Feb 5, 2009

SAP Senior Management February 2009

Safe Harbor Statement

Any statements contained in this document that are not historical facts are forwardlooking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forwardlooking statements, which speak only as of their dates.

Agenda

1. SAP's Leading Market Position

• 1. Current Market Environment
• 1. Strategy Update
• 1. Q4 & FY 2008 Financials
• 1. Full-Year 2008 Financial Highlights and Income Statement Analysis
• 1. Balance Sheet, Cash Flow and Headcount Analysis
• 1. Summary

SAP – The World's Leading Provider of Business Application Software

The world's leading provider of business application software

• ~82,000 customers in 120 countries
• Broad global reach provides regional balance and a greater addressable market
• Undisputed market leader
• Recognized global brand

Strongest product portfolio based on an open technology platform

• Leading product and technology innovation with ~15,500 developers
• First to market with next generation enterprise SOA architecture
• Deepest industry functionality with 24 industry solutions

2008 - Key Metrics Demonstrate Long Term Success

SSRS Revenue*22,,720 ⁷²⁰ 8,623 8,623 1998 2008 CAGR: +12.2%Operating Margin* 20.9 20.9%% 28.2 28.2%% 1998 2008+7.3pp Net Income*527 52722,,229 ²²⁹ 1998 2008CAGR: +15.5%Free Cash Flow227 22711,,844 ⁸⁴⁴ 1998 2008CAGR: +23.3%1998-2008Headcount19,308 19,308 51,536 51,536 1998 2008CAGR: +10.3%# Customers10,700 10,700 1998 2008 82,000 CAGR: +22.6%

*Based on Non-GAAP; in EUR million, unless stated otherwise

© SAP Investor Relations / Page 5

SAP Clearly Outperformed the Market Full Year 2008

Software and Software RelatedServices Revenue

Total Revenue

• Outperformed the market
• Gained share
• Î2008 share: 32.8%
• Î1-year gain: 4.4 pp (3.5 pp via acq.)
• Î3-year gain: 10.3 PP (3.5 pp via acq.)
• Improved ranking to 99th largest company in the world in terms of market capitalization (2007: 127th)

* Vendor Subset is defined as a subset of approximately 50 vendors

Transformation from a One-Product Company to a Multi-Product Company

SAP Doubled its Addressable Market

~50% of SAP's Order Entry from New Products in 2010

• Doubled addressable market to ~\$70b
• 40% of revenues from new products in 2008
• 51,300 productive SAP NetWeaver systems (+47% yoy)
• 13,600 SAP ERP 6.0 customers, thereof 9,400 productive (+84% yoy)
• 13,450 SAP Business All-in-One Customers (+2,100 new customers yoy)
• 22,600 SAP Business One Customers (+5,000 new customers yoy)
• SAP Business ByDesign productive and on-demand

Agenda

1. SAP's Leading Market Position

2. Current Market Environment

• 1. Strategy Update
• 1. Q4 & FY 2008 Financials
• 1. Full-Year 2008 Financial Highlights and Income Statement Analysis
• 1. Balance Sheet, Cash Flow and Headcount Analysis
• 1. Summary

A New Reality Since Mid-September

2008: A Year of Two Tales

• SAP started with a very strong H1 2008, with strong organic growth and excellent contribution from SAP Business Objects
• Following the acceleration of the financial crisis in mid-September the economic environment deteriorated significantly
• SAP's H2 2008 was severely impacted with an H2 SSRS growth rate 50% below the H1 level
• Customer buying patterns changed
• High share of order entry from existing customers in H2
• Reduced average transaction volumes

The Toughest Macroeconomic Environment SAP Has Ever Experienced

• Dramatic, simultaneous deterioration of economic climate across all regions
• Economists have significantly lowered their GDP forecasts for 2009
• 2009 real GDP forecasts
• OECD Area -0.4% (OECD Economic Outlook)*
• US -0.7%, Japan -0.2%, UK -1.3%, Germany -0.8% (IMF World Economic Outlook)**
• IT spending is expected to be severely affected
• Latest industry analyst research and CIO surveys indicate decline in global IT spending
• Visibility into 2009 and beyond remains

Business Environment and Cost Containment Measures for 2009

The Company expects the 2009 operating environment to remain challenging. In addition, 2009 will no longer include the positive effects from the acquisition of Business Objects, and the 2009 first-half results will be a difficult comparison to the strong results reported in the first half of 2008, which was prior to the economic crisis that disrupted the global markets in the third quarter of 2008.

The 2009 Outlook includes the financial impact of the following measures:

• 1) Continued tight cost control on all variable expenses (especially related to 3rd party spending) and capital expenditure
• 2) Salary freeze for 2009
• 3) Reduction of workforce globally to 48,500 positions by year-end 2009, taking full advantage of attrition as a factor in reaching this goal

* The outlook was provided on January 28, 09 at the time of SAP's fourth quarter 2008 results announcement. The outlook is repeated here for informational purposes only and is in no way an update to or reiteration of the outlook provided on January 28, 09.

Outlook 2009*

Due to the continued uncertainty surrounding the economic and business environment, the Company will not provide a specific outlook for software and software-related service revenues for the full-year 2009. The Company expects its full-year 2009 Non-GAAP operating margin, which excludes a non-recurring deferred support revenue write-down from the acquisition of Business Objects of approximately €9 million and acquisition-related charges, to be in the range of 24.5% – 25.5% at constant currencies. This includes one-time restructuring charges between €200 million to €300 million expected to result from the reduction of the workforce, which negatively impacts the Non-GAAP operating margin outlook by approximately 2 - 3 percentage points. The 2009 Non-GAAP operating margin outlook is based on the assumption that 2009 Non-GAAP software and software-related service revenues, which exclude a non-recurring deferred support revenue write-down from the acquisition of Business Objects, will be flat to a decline of 1% at constant currencies (2008: €8.623 billion)

The Company projects an effective tax rate of 29.5% - 30.5% (based on U.S. GAAP income from continuing operations) for 2009 (2008: 30.1%)

^* The outlook was provided on January 28, 09 at the time of SAP's fourth quarter 2008 results announcement. The outlook is repeated here for informational purposes only and is in no way an update to or reiteration of the outlook provided on January 28, 09.

SAP Responds to the Environment Efficiency is Key

• SAP takes measures to adapt to the economic environment and ensure its long-term competitiveness
• SAP continues to maintain tight cost control on variable expenses and capital expenditure
• SAP intends to reduce its workforce globally to 48,500 positions by yearend 2009
• SAP expects the reduction to provide €300-350 million in annual cost savings beginning in 2010

Agenda

• 1. SAP's Leading Market Position
• 1. Current Market Environment
• 3. Strategy Update
• 1. Q4 & FY 2008 Financials
• 1. Full-Year 2008 Financial Highlights and Income Statement Analysis
• 1. Balance Sheet, Cash Flow and Headcount Analysis
• 1. Summary

Complete Portfolio Covering Every Employee in Every Industry in Every Company

The Success of the Business Objects Acquisition

• Clear market leadership and significant share gains in an approx. \$20b market
• Outstanding contribution to 2008 earnings growth
• Contribution of 14PP to SAP's overall 20%* revenue growth
• SAP Business Objects profitability quickly approached group level
• Major innovations in 2008
• Two important platform launches – SAP Business Objects XI3.0 and XI3.1
• Tight integration with the SAP solution portfolio based on the converged roadmap
• Continued focus on information management and datasource-agnostic character
• Significant number of competitive replacements in 2008

In 2009 SAP Will Progress Towards its Vision

Areas in Focus

• Next-level SAP Business Suite
• Service-oriented Architecture
• Expansion of Enterprise Services
• Composition Environment and Business Process Management
• Business User Solutions
• Enterprise Performance Management
• Governance, Risk and Compliance
• Polestar and Business Intelligence Accelerator
• SAP Best-run Now Packages
• Midmarket Solutions
• Co-innovation with Partners for SAP All-in-One and SAP Business One
• Feature Pack 2.0 for SAP Business ByDesign
• Enterprise Support

Agenda

• 1. SAP's Leading Market Position
• 1. Current Market Environment
• 1. Strategy Update
• 4. Q4 & FY 2008 Financials
• 1. Full-Year 2008 Financial Highlights and Income Statement Analysis
• 1. Balance Sheet, Cash Flow and Headcount Analysis
• 1. Summary

Full-Year 2008 Financial Highlights U.S. GAAP and Non-GAAP

Full-Year 2008 Financial Highlights U.S. GAAP and Non-GAAP

*at constant currencies (according to guidance format) ** EPS from continuing operations; basic

Income Statement Overview Full-Year 2008 (U.S. GAAP and Non-GAAP)

	U	S G A A	P		N G A A P o n -
€ i l l i m o n s	F Y 2 0 0 8	F Y 2 0 0 7	% h c a n g e	F Y 2 0 0 8	F Y 2 0 0 7	% h c a n g e	% h c a n g e t t c o n s a n * c r r e n c u y
S f t o w a r e r e v e n u e s	3 6 0 6 ,	3 4 0 7 ,	6	3 6 0 6 ,	3 4 0 7 ,	6	1 0
S f d t o a r e a n w f l d t t s o w a r e -r e a e i s e r v c e r e v e n u e s	8 4 5 7 ,	4 2 7 7 ,	1 4	8 6 2 3 ,	4 2 7 7 ,	1 6	2 0
T l t o a r e v e n u e s	5 1 1 6 7 ,	1 0 2 4 2 ,	1 3	1 1 7 3 3 ,	1 0 2 4 2 ,	1 5	1 9
O i i t p e r a n g n c o m e	2 8 4 2 ,	2 7 3 2 ,	4	5 3 3 0 ,	2 7 9 3 ,	1 8	2 4
O i i ( ) % t p e r a n g m a r g n	2 4 6	2 6 7	2 1 p p -	2 8 2	2 7 3	0 9 p p	1 1 p p
I f n c o m e r o m i i i t t c o n n n g o p e r a o n s u	1 9 2 5 ,	1 9 3 4 ,	0	2 2 6 6 ,	1 9 7 5 ,	1 5	_
N i t e n c o m e	1 8 8 8 ,	1 9 1 9 ,	2 -	2 2 2 9 ,	1 9 6 0 ,	1 4	_
B i E P S f t. a s c r o m c o n i ( € ) t o p e r a o n s	1 6 2	1 6 0	1	1 9 0	1 6 4	1 6	_

* % currency adjusted – actuals 2008 converted with the exchange rates of 2007

Non-GAAP Revenue Numbers Full-Year 2008

	F Y 8 2 0 0 € i l l io m ns	F Y 8 * 2 0 0 € i l l io m ns	F Y 2 0 0 7 € i l l io m ns	%	% t t c o n s a n * c u r r e n c y
S f t o a r e r e e n e w v u S t u p p o r r e v e n u e S b i i & h f l. t t t u s c r p o n s o e r s o w a r e -r e s e r v r e v e n u e S W & S W l d i t -r e a e s e r c e r e e n e v v u	3 6 0 6 , 4 9 7 5 , 2 5 8 8 6 2 3 ,	3 4 7 5 , 4 9 1 4 , 2 6 0 8 9 1 9 ,	3 4 0 7 , 3 8 3 8 , 1 8 2 4 2 7 7 ,	6 2 4 4 2 1 6	1 0 2 8 4 3 2 0
C l i t o n s n g r e e n e u v u T i i r a n n g r e e n e v u O h i t e r s e r v c e s r e v e n u e P f i l i r o e s s o n a s e r c e s r e e n e v v u	2 5 0 0 , 4 3 4 1 0 6 3 0 4 0 ,	2 5 9 2 , 4 2 5 1 1 1 3 1 5 5 ,	2 2 2 1 , 4 1 0 1 1 3 2 4 4 7 ,	1 3 6 6 - 1 1	1 7 1 0 2 - 1 5
O h t e r r e e n e v u	0 7	2 7	1 7	1 -	1
T l t o a r e v e n u e	1 1 7 3 3 ,	1 2 1 4 6 ,	1 0 2 4 2 ,	5 1	1 9

* % currency adjusted – actuals 2008 converted with the exchange rates of 2007

© SAP Investor Relations / Page 23

Non-GAAP Revenue Breakdown by Region** Full-Year 2008

€ millions | yoy percent change | yoy percent constant currency change

* % currency adjusted – actuals 2008 converted with the exchange rates of 2007 / ** by location of customers

© SAP Investor Relations / Page 24

Non-GAAP Operating Expenses Full-Year & Fourth Quarter 2008

2008

Fourth Quarter

Total Operating Expenses: +1%

Fourth quarter was positively impacted by:

(volume)

Expense saving measures

Acquisitions (volume)

• Impact of equity program
• Variable compensation
• Not all effects are sustainable throughout 2009

Non-GAAP Net Income, EPS and Key Ratios Full-Year 2008

	F Y 2 0 0 8 € i l l io m ns	F Y 2 0 0 7 € i l l io m ns	%	% t t c o n s a n * c r r e n c u y
i i O t p e r a n g n c o m e	3 3 0 5 ,	2 7 9 3 ,	1 8	2 4
O h i i / t t t e r n o n -o p e r a n g n c o m e e x p e n s e n e , F i i l i / t n a n c a n c o m e e x p e n s e n e , I f i i i b f t t n c o m e r o m c o n n u n g o p e r a o n s e o r e i t n c o m e a x e s	2 5 - 6 3 - 3 2 1 7 ,	1 1 2 4 2 9 1 8 ,	N / A N / A 1 0
I t n c o m e a x e s I f i i i t t n c o m e r o m c o n n u n g o p e r a o n s	9 5 0 - 2 2 6 6 ,	9 4 1 - 5 1 9 7 ,	1 5 1
N i t e n c o m e	2 2 2 9 ,	1 9 6 0 ,	1 4

	F Y 2 0 0 8	F Y 2 0 0 7	%	% t t c o n s a n * c r r e n c u y
E P S f i i i b i i € t t r o m c o n n u n g o p e r a o n s a s c n –	1 9 0	1 6 4	1 6
S f i i i E P b € t r o m n e n c o m e a s c n –	1 8 7	1 6 2	1 5
O i i t p e r a n g m a r g n	2 8 2 %	2 3 % 7	0 9 p p	1 1 p p
E f f i f i i i t t t t t e c v e a x r a e r o m c o n n u n g o p e r a o n s	2 9 5 %	3 2 2 %	2 7 p p -

Gross Margin Analysis Full-Year 2008 (U.S. GAAP and Non-GAAP)

	U S G A A P			N G A A P o n -
	F Y 2 0 0 8 € i l l io m ns	F Y 2 0 0 7 € i l l io m ns	%	F Y 8 2 0 0 € i l l io m ns	F Y 2 0 0 7 € i l l io m ns	%
S W & S W l d i t -r e a e s e r v c e r e v e n u e S S W & W l d i t t -r e a e s e r c e c o s v S S i i W & W l d % t -r e a e s e r v m a r g n n -	8 4 5 7 , 1 6 4 6 - , 8 0 5	7 4 2 7 , 1 3 1 0 - , 8 2 4	1 4 2 6 1 9 p p -	8 6 2 3 , 1 4 3 5 - , 8 3 2	7 4 2 7 , 1 2 5 7 - , 8 3 1	1 6 1 6 0 1 p p
P f i l i d h i t r o e s s o n a s e r v c e a n o e r s e r v c e r e e n e v u P f i l d h t t r o e s s o n a s e r a n o e r s e r c o s v v P f i l i i % r o e s s o n a s e r v g r o s s m a r g n n -	3 0 4 0 , 2 2 9 7 - , 2 4 4	2 7 4 4 , 2 0 9 1 - , 2 3 8	1 1 1 0 0 6 p p	3 0 4 0 , 2 2 9 7 - , 2 4 4	2 7 4 4 , 2 0 8 9 - , 2 3 9	1 1 1 0 0 5 p p
S S f W & W l d i i l t -r e a e s e r v c e p r o e s s o n a s e r v , d h t a n o e r s e r v r e v e n u e S S W & W l d i f i l t -r e a e s e r c e p r o e s s o n a s e r v v ,	1 1 4 9 7 ,	1 0 1 7 1 ,	1 3	1 1 6 6 3 ,	1 0 1 7 1 ,	1 5
d h t t a n o e r s e r v c o s s G i i % r o s s m a r g n n -	3 9 4 3 - , 5 6 7	3 4 0 1 - , 6 6 6	1 6 0 9 p p -	3 0 7 5 - , 6 7 9	3 3 4 6 - , 6 7 1	1 2 0 8 p p

Cost Analysis Full-Year 2008 (U.S. GAAP and Non-GAAP)

	U S G A A	P		N G A A P o n -
	F Y 2 0 0 8 € i l l io m ns	F Y 2 0 0 7 € i l l io m ns	%	F Y 8 2 0 0 € i l l io m ns	F Y 2 0 0 7 € i l l io m ns	%
R h d d l t e s e a r c a n e e o p m e n v % f l t t a s o o a r e e n e v u -	1 6 3 1 - , 1 4 1	1 4 5 8 - , 1 4 2	1 2 0 1 p p -	1 6 1 4 - , 1 3 8	1 4 5 8 - , 1 4 2	1 1 0 4 p p -
S l d k i t a e s a n m a r e n g f % l t t a s o o a r e v e n u e -	2 4 1 5 - , 2 2 0	2 1 6 2 - , 2 1 1	1 8 0 9 p p	2 4 5 5 - , 2 0 9	2 1 6 5 - , 2 1 1	1 4 0 2 p p -
G l d d i i i t t e n e r a a n a m n s r a o n % f l t t a s o o a r e v e n u e -	6 2 2 - 5 4	5 0 6 - 4 9	2 3 0 5 p p	6 2 1 - 5 3	5 0 6 - 4 9	2 3 0 4 p p
O / h i i t t e r o p e r a n g n c o m e e p e n s e s x	1 2	1 7	2 9 -	1 2	1 7	2 9 -
i T l t t o a o p e r a n g e x p e n s e s	8 7 2 5 - ,	7 5 1 0 - ,	1 6	8 4 2 8 - ,	7 4 4 9 - ,	1 3

Non-GAAP Gross Margin and Cost Ratios Fourth Quarter & Full-Year 2008

N G A A P G M i o n r o s s a r g n -	F Y 2 0 0 8	H 1 2 0 0 8	H 2 2 0 0 8	Q 4 2 0 0 8
S S W & W l d i i t -r e a e s e r c e m a r g n v	8 3 2 %	8 2 2 %	8 3 9 %	8 4 1 %
P f i l i r o e s s o n a s e r g r o s s m a r g n v	2 4 4 %	2 2 6 %	2 6 2 %	3 0 0 %
G i r o s s m a r g n	6 7 9 %	6 5 8 %	6 9 6 %	7 1 6 %

N G A A P C R i t t o n o s a o s -	F Y 8 2 0 0	H 1 8 2 0 0	H 2 8 2 0 0	Q 4 8 2 0 0
R & D % f l t t a s o o a r e e n e v u	1 3 8 %	1 2 % 5	1 2 % 5	1 1 3 %
S & M f l % t t a s o o a r e e n e v u	2 0 9 %	2 2 8 %	1 9 3 %	1 7 3 %
G & A f l % t t a s o o a r e e n e v u	5 3 %	5 9 %	4 7 %	4 1 %

• 1. Current Market Environment
• 1. Strategy Update

4. Q4 & FY 2008 Financials

1. Full-Year 2008 Financial Highlights and Income Statement Analysis

2. Balance Sheet, Cash Flow and Headcount Analysis

1. Summary

Assets

€ i l l i m o n s	/ / 1 2 3 1 0 8	/ / 1 2 3 1 0 7
C h d h i l t a s a n c a s e q u v a e n s, h i * t- t t t s o r e r m n e s m e n s v	1, 6 6 2	2 6 7 5 ,
A i b l t t c c o u n s r e c e v a e s, n e	3 1 4 1 ,	2 8 9 5 ,
O h t t t e r c r r e n a s s e s u	8 6 3	7 5 7
C t t u r r e n a s s e s	5, 6 6 6	6, 4 0 8
G d i l l o o w	5 0 0 7 ,	1, 4 2 3
I i b l t t t n a n g e a s s e s, n e	1, 1 2 7	4 0 3
P l d t t r o p e r y, p a n a n i t, t e q p m e n n e u	1, 4 0 5	1, 3 1 6
O h t t t e r n o n c u r r e n a s s e s	8 7 8	8 1 6
N t t o n c r r e n a s s e s u	8, 4 1 7	3, 9 5 8
T l t t o a a s s e s	1 4 0 8 3 ,	1 0 3 6 6 ,

Shareholders' Equity & Liabilities

€ i l l i m o n s	/ / 1 2 3 1 0 8	/ / 1 2 3 1 0 7
D b t e	2 3 2 1 ,	2 7
O h l i b i l i i t t e r a e s	2 7 5 9 ,	2 6 9 5 ,
f D d i e e r r e n c o m e	6 2 4	4 7 7
C l i b i l i i t t r r e n a e s u	5, 7 0 4	3, 1 9 9
I b l i i t t n c o m e a x o g a o n s	2 8 3	9 0
P i i r o v s o n s	5 1 8	3 6 9
O h l i b i l i i t t e r n o n c u r r. a e s	3 2 2	2 0 4
N l i b i l i i t t o n c r r e n a e s u	1, 1 2 3	6 6 3
T l l i b i l i i t t o a a e s	6, 8 2 7	3, 8 6 2
M i i i t t t n o r y n e r e s s	2	1
S h h l d ' i t a r e o e r s e q u y	7, 2 5 4	6, 5 0 3
l h h l d T t ' o a s a r e o e r s i l i b i l i t & t e q u y a y	1 4 0 8 3 ,	1 0 3 6 6 ,

Balance Sheet & Cash Flow Analysis Full-Year 2008 (U.S. GAAP)

	/ / 1 2 3 1 0 8	/ / 1 2 3 1 0 7
( ) N l i i d i € i l l i t t e q u y m o n s	6 9 5 -	2 2 9 7 ,	3 3 8 8 - ,
D l d i ( D S O ) t t a s s a e s o s a n n g y u	d 7 1 a s y	d 6 6 a s y	d 5 a s + y
E i i t t q u y r a o	2 % 5	6 3 %	1 1 p p -
	F Y 2 0 0 8 € i l l i m o n s	F Y 2 0 0 7 € i l l i m o n s	%
O i h f l t p e r a n g c a s o w C h i t a s c o n e r s o n r a e v –	2 1 8 3 , 1 1 6 %	1 9 5 0 , 1 0 2 %	1 2 + 1 4 + p p
	F Y 2 0 0 8 € i l l i m o n s	F Y 2 0 0 7 € i l l i m o n s	%
O i h f l t p e r a n g c a s o w C i l d i t t a p a e p e n r e x u –	2 1 8 3 , 3 3 9 -	1 9 5 0 , 4 0 1 -	1 2 + 1 5 -
f F h l r e e c a s o w	1 8 4 4 ,	1 4 9 5 ,	1 9 +
F h f l f l % t t r e e c a s o a s a o o a r e e n e w v u	1 6	1 5	1 + p p

Development of Total Group Liquidity* Full-Year 2008 (Gross Liquidity)

* Total Group Liquidity = Cash and Cash Equivalents + Restricted Cash + Short-term investments

2008 Share Buyback Activities

• In 2008, SAP bought back 14.6 million shares for a total amount of €486.8m
• At December 31, 2008, the Company held treasury stock in the amount of ~38.5 million shares at an average price of €35.43
• The weighted average number of shares outstanding compared to 2007 came down by 16.8m to 1,191m shares

Headcount* Growth – Organic and via Acquisitions Continuing Operations Only – Full-Year 2008

Acquisitions

T l t o a	6 4 9 1 ,
O h i i i t t e r a c q s o n s u	2 6 7
O B i b j t u s n e s s e c s	6 2 2 4 ,

Organic Headcount Growth by Quarter

T l t o a	8 1 1 4 ,
Q 4	3 2 7 -
Q 3	1 4 4
Q 2	1 7 3
Q 1	1 1 9 4 ,

* full-time equivalents

• 1. SAP's Leading Market Position
• 1. Current Market Environment
• 1. Strategy Update
• 1. Q4 & FY 2008 Financials
• 1. Full-Year 2008 Financial Highlights and Income Statement Analysis
• 1. Balance Sheet, Cash Flow and Headcount Analysis
• 5. Summary

SAP Provides What Companies Are Looking For in 2009…

Entire spectrum of customers' investment sizes and motivations

• From strategic Global Enterprise Agreements to quick-win SAP Business Objects Edge deployments
• Strongest and broadest solution portfolio in SAP's history

Value-based sales and delivery approach

SAP's value engineering methodology supports customers in identifying projects with strong business cases

Financing

SAP arranges third party software project financing to help customers protect their liquidity

High level of protected, recurring revenue Diversified revenue stream across

…And is Well Prepared to Emerge From the

Downturn in an Even Stronger Competitive Position

• Geographies
• Industries
• Customer Segments
• Strongest and broadest solution portfolio in the industry
• Unmatched domain expertise as the dominating vendor in 20 out of 25 industries
• Highly skilled workforce
• Excellent reputation and brand
• Unique ecosystem of partners
• Competitive win rate at top levels
• Customer satisfaction at an all-time high
• Cost awareness and spending discipline
• Very healthy cash generation and solid financial posture

Total Revenue* by Revenue Type

Total Revenue* by Region

SSRS Revenue* by Industry

APPENDIX

Information on SAP's Financial Reporting Framework

Since 2007, SAP prepared consolidated financial statements under both U.S. GAAP and IFRS

• IFRS has been mandatory for SAP since 2007 but focus of communication has continued to be based on US GAAP and non-GAAP numbers
• The U.S. has allowed foreign filers to file IFRS since 2007 and has proposed a roadmap to help migrate U.S. filers to IFRS by 2014. However, SAP has voluntarily also provided U.S. GAAP
• At SAP, differences between U.S. GAAP and IFRS have not been significant (e.g. no differences in revenue recognition)

During 2009, SAP will continue to report its financials according to both IFRS and U.S. GAAP

• All quarterly earnings press releases and quarterly reports (Q1-Q4 2009) will provide both U.S. GAAP and IFRS financial information
• Communication (e.g. business outlook) will be based on Non-GAAP numbers derived from U.S. GAAP numbers
• Press release for Q4 2009 will be the last document providing U.S. GAAP financials => SAP annual report as well as the SAP annual report on Form 20-F for fiscal year 2009 will only provide IFRS financials

Beginning of 2010, SAP will change its reporting standards to IFRS only

All financial information and communication (e.g. business outlook) will be based on IFRS numbers and Non-IFRS numbers

U.S. GAAP/Non-GAAP versus IFRS/Non-IFRS

Revenues

• Small differences between US GAAP and IFRS
• Presentation of Tomorrow Now as discontinued operations only under US GAAP
• Non-IFRS revenue is adjusted for these discontinued operations
• => No difference between Non-GAAP and Non-IFRS revenue

Operating Income

• Small differences between US GAAP and IFRS, including
• Discontinued Operations (see above)
• Differences in accounting for certain acquisition related charges
• Non-IFRS operating income is adjusted for these discontinued operations and (like Non-GAAP) for acquisition related charges
• => Non-GAAP and Non-IFRS operating income are nearly identical.

Note:

There may be more significant US GAAP / IFRS resp. Non-GAAP / Non-IFRS differences in future periods but such differences are not expected to be material