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Ad-hoc announcement: Preliminary free cash flow for the Automotive segment of BMW AG in the third quarter of 2020 above market expectations

The preliminary free cash flow for the Automotive segment of BMW AG in the third quarter 2020 amounts to €3,065 million (previous year: €714 million) and thus exceeds current market expectations.

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Munich. The preliminary free cash flow for the Automotive segment of BMW AG in the third quarter 2020 amounts to €3,065 million (previous year: €714 million) and thus exceeds current market expectations.

This was due in particular to a faster recovery in several markets, which led to higher sales growth. In addition, a focused management has led to an optimisation of working capital and a further reduction of fixed costs and capital expenditure.

The impact of this development on the free cash flow for the Automotive segment for the full year will be communicated with the release of the Quarterly Statement to 30 September 2020.

The previous earnings forecasts for the individual segments and the Group remain unchanged.

Economic disruption caused by the coronavirus pandemic continues to significantly impair forecasting and leads therefore to considerable uncertainty in providing an accurate outlook.

BMW AG will publish further details on the results of the third quarter 2020 on 4 November 2020.

The definition of free cash flow is provided on page 244 in the BMW Group Annual Report 2019. Working capital comprises inventories as well as trade receivables and trade payables.

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CO2 emission information.

The following applies to consumption figures for vehicles with new type approval, September 2017 onward: The figures for fuel consumption, CO2 emissions and energy consumption are obtained in accordance with the specified measuring procedure (EC Regulation No. 715/2007), as issued and amended. The figures are for a basic-version vehicle in Germany. The bandwidths allow for differences in the choice of wheel and tire sizes and items of optional equipment and can be changed by the configuration.

Obtained on the basis of the new "Worldwide harmonized Light vehicles Test Procedure" (WLTP), the figures are converted back to the "New European Driving Cycle" (NEDC) for the sake of comparability. Values other than those stated here may be used for the purposes of taxation and for other vehicle-related duties relating to CO2 emissions.

More information about official fuel consumption figures and the official specific CO2 emissions of new passenger cars can be obtained from the "guideline on fuel consumption, CO2 emissions and current consumption of new passenger cars", available here: https://www.dat.de/co2/.

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