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    Outlook & Ambition

    The outlook and ambition on this page was provided as part of the most recent quarterly results and is repeated here for informational purposes only. It is not an update or a reiteration of the outlook/ambition.

    The Company is updating its 2020 outlook to reflect the estimated impact of the COVID-19 crisis. The revised out-look assumes the current COVID-19 induced challenging demand environment deteriorates through the second quarter before gradually improving in the third and fourth quarter as economies reopen and population lockdowns end.?SAP confirms its 2023 ambition which was previously published in its 2019 Integrated Report. (Preliminary Q1 results, April 8, 2020)

    Outlook 2020 and Mid-term Ambition 2023
    ? ? 2020 Outlook ? 2023 Ambition
    ? ? Non-IFRS at constant currencies ? Non-IFRS
    Cloud revenue ? €8.3B to €8.7B ? > 3x 2018 result
    Cloud and Software ? €23.4B to €24.0B ? ?
    Total revenue ? €27.8B to €28.5B ? > €35.0B
    Operating profit / Operating margin ? €8.1B to €8.7B ? Increase by 1pp per year on average. Total approx. ~500bp
    Share of more predictable revenue in % ? 72% ? ~80%

    While SAP’s full-year 2020 business outlook is at constant currencies, actual currency reported figures are expected to be impacted by currency exchange rate fluctuations as the Company progresses through the year. See the table below for the Q1 and FY 2020 expected currency impacts.

    Expected Currency Impact Based on December 2019 Level for the Rest of the Year
    In percentage points ? Q1 ? FY
    Cloud revenue ? 0pp to +2pp ? -1pp to +1pp
    Cloud and software revenue ? 0pp to +2pp ? -1pp to +1pp
    Operating profit ? +1pp to +3pp ? 0pp to +2pp

    Any statements contained on this page that are not historical facts are forward-looking 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 SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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