1BMW GroupList of Investments pursuant to 285 and 313 HGBDisclosures relating to the Company and Group Financial Statements of BMW AG for the Year ended 31 December 2012BMW AG presents below its List of Investments pursuant to 285 and 313 HGB. Figures for equity and earnings are not disclosed if they are of minor significance for the net assets, financial and earnings position of BMW AG pursuant to 286 (3) sentence 1 no.1 HGB. It is also shown in the list which subsidiaries apply the the exemptions available in 264 (3) and 264b HGB with regard to the publication of annual financial statements and the drawing up of a management report and notes to the financial statements (footnotes 5 and 6). The Group Financial Statements of BMW AG serve as exempting consolidatedfinancial statements for these companies. The attached List of Investments is a component of the notes to the financial statements.EquityProfit/lossCapital investmentin millionin millionin %BMWAGs subsidiaries at 31.12.2012Domestic1BMW INTEC Beteiligungs GmbH, Munich3, 63,358 100BMW Bank GmbH, Munich31,915 100BMW Finanz Verwaltungs GmbH, Munich31518100BMW Verwaltungs GmbH, Munich3, 6 100Alphabet Fuhrparkmanagement GmbH, Munich4 100Alphabet International GmbH, Munich4, 6 100MITEC Mikroelektronik Mikrotechnik Informatik GmbH, Dingolfing4 100LARGUS Grundstcks-Verwaltungsgesellschaft mbH & Co. KG, Munich 95BMW Vertriebszentren Verwaltungs GmbH, Munich 100BMW Hams Hall Motoren GmbH, Munich5, 6 100BMW Fahrzeugtechnik GmbH, Eisenach3, 5 100Parkhaus Oberwiesenfeld Gesellschaft mit beschrnkter Haftung, Munich 100LARGUS Grundstcks-Verwaltungsgesellschaft mbH, Munich 100Brohaus Petuelring GmbH, Munich 100Rolls-Royce Motor Cars GmbH, Munich4, 5, 6 100BAVARIA-LLOYD Reisebro GmbH, Munich 51Bavaria Wirtschaftsagentur GmbH, Munich3, 5, 6 100BMW M GmbH Gesellschaft fr individuelle Automobile, Munich3, 5, 6 100BMW Anlagen Verwaltungs GmbH, Munich3 100GVK Gesellschaft fr Vermietung und Verwaltung von Kraftfahrzeugen mbH, Munich 100Foreign2EuropeBMW Holding B.V., The Hague9,2751,711100BMW sterreich Holding GmbH, Steyr2,2041,553100BMW (UK) Manufacturing Ltd., Bracknell1,335121100BMW Malta Ltd., St. Julians1,19087100BMW Malta Finance Ltd., St. Julians1,02247100BMW Motoren GmbH, Steyr846178100BMW (UK) Ltd., Bracknell81846100BMW Financial Services (GB) Ltd., Hook643149100BMW Coordination Center V.o.F., Bornem592 100BMW Espaa Finance S.L., Madrid4911100BMW (Schweiz) AG, Dielsdorf334 9100BMW Finance N.V., The Hague326 51100BMW Iberica S.A., Madrid32312100BMW France S.A., Montigny-le-Bretonneux314169100BMW (UK) Capital plc, Bracknell279201002BMW Italia S.p.A., MilanBMW Financial Services Italia S.p.A., Milan BMW Finance S.N.C., GuyancourtBMW (UK) Holdings Ltd., BracknellBMW Belgium Luxembourg S.A./N.V., Bornem Rolls-Royce Motor Cars Ltd., BracknellBMW Russland Trading OOO, Moscow BMW International Investment B.V., Rijswijk Alphabet Nederland B.V., BredaAPD Industries plc, Bracknell Swindon Pressings Ltd., BracknellBMW Financial Services Scandinavia AB, Solna BMW Vertriebs GmbH, SalzburgBMW Austria Leasing GmbH, Salzburg BMW Bank OOO, MoscowAlphabet (UK) Fleet Management Ltd., Glasgow BMW Austria Bank GmbH, SalzburgBMW Austria Ges.m.b.H., Salzburg Bavaria Reinsurance Malta Ltd., St. JuliansBMW Financial Services Belgium S.A./N.V., Bornem ALPHABET (GB) Ltd., HookAlphabet France SAS, GuyancourtHusqvarna Motorcycles S.r.l., Cassinetta di Biandronno BMW Services Ltd., BracknellBMW Portugal Lda., LisbonAlphabet Fuhrparkmanagement (Schweiz) AG, Dielsdorf BMW Leasing (GB) Ltd., HookAlphabet Belgium S.A./N.V., BornemAlphabet Belgium Long Term Rental NV, Aartselaar BMW Automotive (Ireland) Ltd., DublinBMW Roma S.r.l., RomeAlphabet Polska Fleet Management Sp. z o.o., Warsaw BMW Financial Services B.V., RijswijkBMW Services Belgium S.A./N.V., Bornem BMW Sverige AB, StockholmBMW Hellas Trade of Cars A.E., AthensBMW Finanzdienstleistungen (Schweiz) AG, Dielsdorf BMW sterreich Finanzierungs GmbH, SteyrBMW Danmark A/S, KoldingAlphabet Austria Fuhrparkmanagement GmbH, Salzburg BMW Renting (Portugal) Lda., LisbonBavaria Insurance Company Ltd., Dublin Noord Lease B.V., GroningenPark Lane Ltd., Bracknell Oy BMW Suomi AB, HelsinkiBMW Financial Services Denmark A/S, Kolding BMW Financial Services (Ireland) Ltd., Dublin BMW Nederland B.V., The HagueBMW (UK) Investments Ltd., Bracknell EquityProfit/lossCapital investmentin millionin millionin %253 94100247 3010023525100233 6010022910100154610014582100134 10010324100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 1003EquityProfit/lossCapital investmentin millionin millionin %Socit Nouvelle WATT Automobiles SARL, Paris 100Alphabet Italia Fleet Management S.p.A., Rome 100Alphabet Espaa Fleet Management S.A.U., Madrid 100BLMC Ltd., Bracknell 100Alphabet Luxembourg S.A., Luxembourg 100BMW Norge AS, Oslo 100Alphabet International B.V., Amsterdam 100Alphabet France Fleet Management S.N.C., Paris 100The British Motor Corporation Ltd., Bracknell 100BMW Central Pension Trustees Ltd., Hams Hall 100Riley Motors Ltd., Bracknell 100Triumph Motor Company Ltd., Bracknell 100The AmericasBMW (US) Holding Corp., Wilmington, DE1,766641100BMW Manufacturing Co., LLC, Wilmington, DE965241100BMW Bank of North America, Inc., Salt Lake City, UT797146100BMW Financial Services NA, LLC, Wilmington, DE452195100Financial Services Vehicle Trust, Wilmington, DE359147100BMW US Capital, LLC, Wilmington, DE32019100BMW of North America, LLC, Wilmington, DE235785100BMW do Brasil Ltda., So Paulo 100BMW Financeira S.A. Credito, Financiamento e Investimento, So Paulo 100BMW Financial Services de Mexico S.A. de C.V., Mexico City 100BMW de Mexico, S.A. de C.V., Mexico City 100BMW Leasing do Brasil, S.A., So Paulo 100BMW Acquisitions Ltda., So Paulo 100SB Acquisitions, LLC, Wilmington, DE 100BMW of Manhattan, Inc., Wilmington, DE 100BMW Leasing de Mexico S.A. de C.V., Mexico City 100BMW Auto Leasing, LLC, Wilmingotn, DE 100BMW Facility Partners, LLC, Wilmington 100BMW FS Funding Corp. 100BMW FS Receivables Corp 100BMW FS Securities LLC 100BMW Manufacturing LP 100BMW Insurance Agency, Inc., Wilmington, DE 100BMW de Argentina S.A., Buenos Aires 100BMW Extended Services Corp., Hilliard, FL 100BMW Consolidation Services Co., LLC, Wilmington, DE 100Rolls-Royce Motor Cars NA, LLC, Wilmington, DE 100Husqvarna Motorcycles NA, LLC, Wilmington, DE 100BMW Canada Inc., Whitby 100BMW Receivables 1 Inc., Whitby 100BMW Receivables 2 Inc., Whitby 100BMW Receivables Limited Partnership, Whitby 1004EquityProfit/lossCapital investmentin millionin millionin %AfricaBMW (South Africa) (Pty) Ltd., Pretoria57076100BMW Financial Services (South Africa) (Pty) Ltd., Pretoria16224100AsiaBMW China Automotive Trading Ltd., Beijing1,2371,176100BMW Japan Corp., Tokyo405104100BMW Japan Finance Corp., Tokyo30822100BMW Automotive Finance (China) Co., Ltd., Beijing207758BMW Malaysia Sdn Bhd, Kuala Lumpur 51BMW Financial Services Korea Co., Ltd., Seoul 100BMW (Thailand) Co., Ltd., Bangkok 100BMW Asia Pte. Ltd., Singapore 100BMW Korea Co., Ltd., Seoul 100BMW India Private Ltd., New Delhi 100PT BMW Indoniesia, Jakarta 100BMW Asia Technology Centre Sdn Bhd, Kuala Lumpur 100BMW Tokyo Corp., Tokyo 100BMW Credit (Malaysia) Sdn Bhd, Kuala Lumpur 100BMW Leasing (Thailand) Co., Ltd., Bangkok 74BMW Asia Pacific Capital Pte Ltd., Singapore 100BMW China Services Ltd., Beijing 100BMW Holding Malaysia Sdn Bhd, Kuala Lumpur 100BMW Lease (Malaysia) Sdn Bhd, Kuala Lumpur 100BMW India Financial Services Private Ltd., Gurgaon 100BMW Manufacturing (Thailand) Co., Ltd., Bangkok 100BMW Osaka Corp., Osaka 100OceaniaBMW Australia Finance Ltd., Melbourne, Victoria32474100BMW Melbourne Pty. Ltd., Melbourne, Victoria 100BMW Financial Services New Zealand Ltd., Auckland 100BMW Sydney Pty. Ltd., Sydney, New South Wales 100BMW New Zealand Ltd., Auckland 100BMW Australia Ltd., Melbourne, Victoria 1005EquityProfit/lossCapital investmentin millionin millionin %BMWAGs non-consolidated companies at 31.12.2012DomesticAutomag GmbH, Munich7Bavaria Betriebs-Gastronomie GmbH, Munich4, 7 BMW Apparatebau (8) GmbH, Munich7BMW Car IT GmbH, Munich7BMW Forschung und Technik GmbH, Munich3, 7 Fleetlevel + Services GmbH, Stuttgart7Laja Mobilien Verwaltungs GmbH, Grnwald7BMW Peugeot Citron Electrification GmbH, Munich7 100 100 100 100 100 100 100 100ForeignEuropeBMW Distribution S.A.S., Montigny-le-Bretonneux7 BMW Car Club Ltd., Bracknell7BMW Drivers Club Ltd., Bracknell7 BMW (GB) Ltd., Bracknell7BMW Group Benefit Trust Ltd., Bracknell7 BMW Motorsport Ltd., Bracknell7BMW (P + A) Ltd., Bracknell7BMW (UK) Pensions Services Ltd., Redditch7 John Cooper Garages Ltd., Bracknell7John Cooper Works Ltd., Bracknell7 BMW Milano S.r.l., Milan7BMW Peugeot Citron Electrification B.V., Rijkswijk7 BMW Amsterdam B.V., Amsterdam7BMW Den Haag B.V., The Hague7BMW Retail Nederland B.V., Haaglanden7 BMW i Ventures B.V., Rijswijk7OOO BMW Leasing, Moscow7BMW Financial Services Polska Sp. z o.o. , Warsaw7 BMW Madrid S.L., Madrid7BMW Barcelona, S.L., Barcelona7 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100The AmericasBMW Hybrid Technology Corp., Troy, MI7 BMW Operations Corp., Wilmington, DE7 Designworks/USA, Inc., Newbury Park, CA7 Westchester BMW, Inc., Wilmington, DE7217-07 Northern Boulevard Corp., Wilmington, DE7 BMW i Ventures LLC, Wilmington, DE7BMW Experience Centre Inc., Whitby7BMW Leasing de Argentina S.A., Buenos Aires7 Toluca Planta de Automoviles, S.A. de C.V., Lerma7 BMW de Latinoamerica, S.A., Panama City7BMW Car Sharing, LLC, Wilmington, DE7 100 100 100 100 100 100 100 100 100 100 1006EquityProfit/lossCapital investmentin millionin millionin %AfricaBMW Automobile Distributors (Pty) Ltd., Rosslyn7 100BMW Waterfront (Pty) Ltd., Pretoria7 100BPF Midrand Property Holdings (Pty) Ltd., Midrand7 100Multisource Properties (Pty) Ltd., Pretoria7 100AsiaBMW Financial Services Hong Kong Limited, Hong Kong7 51BMW Financial Services Singapore Pte Ltd., Singapore7 100BMW Philippines Corp., Manila7 70BMW India Leasing Pvt. Ltd., Gurgaon7 100BMW Finance (United Arab Emirates) Ltd., Dubai7 100BMW Insurance Services Korea Co. Ltd., Seoul7 100THEPSATRI Co., Ltd., Bangkok7, 9 49OceaniaMG Australia (Holdings) Pty. Ltd., Melbourne, Victoria7 507EquityProfit/lossCapital investmentin millionin millionin %BMWAGs associated companies and joint ventures at 31.12.2012Equity accounted investmentsDomesticSGL Automotive Carbon Fibers GmbH & Co. KG, Munich88749SGL Automotive Carbon Fibers Verwaltungs GmbH, Munich8 49DriveNow GmbH & Co. KG, Munich85750DriveNow Verwaltungs GmbH, Munich8 50ForeignBMW Brilliance Automotive Ltd., Shenyang81,30456350SGL Automotive Carbon Fibers, LLC, Dover, DE810 49Not equity accounted investmentsDomesticJoblinge gemeinntzige AG, Bayerwald7 25Joblinge gemeinntzige AG, Leipzig7 21ForeignParkNow LLC, Wilmington, DE7 50U.T.E. Universal Lease-Carsan-Bujarkay Ley, Sevilla7 47.58EquityProfit/lossCapital investmentin millionin millionin %BMWAGs participations at 31.12.2012DomesticSGL Carbon SE, Wiesbaden7 18.4Joblinge gemeinntzige AG Berlin, Berlin7 10.0Joblinge gemeinntzige AG Mnchen, Munich7 7.6Hubject GmbH, Berlin7 16.7IVM Industrie-Verband Motorrad GmbH & Co. Dienstleistungs KG, Essen7 14.5Deutsches Forschungszentrum fr Knstliche Intelligenz GmbH, Kaiserslautern7 5.0GSB Sonderabfall-Entsorgung Bayern GmbH, Baar-Ebenhausen7 3.1ForeignSrividya Tech Inc., New York, NY7 Parkatmyhouse Ltd., London7 Parkopedia Ltd., Birmingham7 Coulomb Technologies, Inc., Campbell7 kringlan composites AG, Otelfingen7 10.0 14.3 10.6 4.2 17.5The amounts shown for the German affiliated companies correspond to the annual financial statements drawn up in accordance with German accounting rules (HGB). The amounts shown for the foreign affiliated companies correspond to the annual financial statements drawn in accordance with uniform IFRS rules. Equity and earnings not denominated in euro are translated in euro using the closing exchange rate at the balance sheet date Profit and Loss Transfer Agreement with BMWAG Profit and Loss Transfer Agreement with a subsidiary of BMWAG Exemption from drawing up a management report applied in accordance with 264 (3) and 264b HGB Exemption from publishing annual financial statements applied in accordance with 264 (3) and 264b HGB These entities are neither consolidated nor accounted for using the equity method on the basis of their overall materiality for the Group Financial Statements. The amounts shown for entities accounted for using the equity method correspond to the annual financial statements drawn up in accordance with uniform IFRS rules. Including power to appoint representative bodies