Sap Se · XETR:SAP

Sap — Q1 2026 Earnings Presentation

24 slides from Sap's earnings presentation, Apr 23, 2026

1. Slide 1: First Quarter 2026 Results

   First Quarter 2026 Results Christian Klein, CEO Dominik Asam, CFO April 23, 2026 Public

2. Slide 2: Safe Harbor Statement

   First Quarter 2026 Results Presentation | April 23, 2026 Safe Harbor Statement During this presentation we will make forward-looking statements which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions

3. Slide 3: Christian Klein, CEO

   Christian Klein CEO

4. Slide 4: Q1 was a strong start into 2026

   Q1 was a strong start into 2026 Cloud revenue in € millions (yoy @cc) Current cloud Cloud gross profit in € millions (yoy @cc) backlog € millions 5,962 21,932 5,610 (+27%) ▲ +20% (+25% @cc) (+26%) 5,290 5,130 (+27%) 4,993 (+28%) (+26%) Cloud 4,481 revenue 4,185 (+26%) € millions 3,972 (+27%) 3,856 3

5. Slide 5: adesso |

   adesso | Chedraui oKF @Alirliquide "CMS ENERGY > helvetia THALES @)Alibaba Cloud : f4 COMPASS apollo ConocoPhillips @ wyunoal PayPal g “APTIV: DIEHL ® Prrvveoccoe volaris * ExonMobil MIGROS } RedBull Bristol Myers Squibb’ SAMSUNG ELECTRO-MECHANICS

6. Slide 6: Customers and partners achieve impressive outcomes with SAP Business AI

   Customers and partners achieve impressive outcomes with SAP Business AI Customers Partners 4x 10 m $ 9x 20% 20-30% higher bid win rates annual savings due to faster invoicing increased developer faster ERP predictive maintenance process productivity migrations for roads With With With With With SAP

7. Slide 7: What makes us unique

   What makes us unique Deep Process & Semantically Rich Enterprise-Grade Industry Knowledge Business Data Governance 50 years of process & industry Data enriched with AI for enterprise deployment, intelligence encoded in our operational business managing the full Agentic applications, knowledge graph

8. Slide 8: Internal AI Adoption

   Internal AI Adoption We are customer zero Engineering & Technology Services & Support Go-to-Market 100% ~ 50 m € ~30% of support tickets touched by AI additional influenced pipeline developer productivity uplift ~1 day/week Up to 6x saved per consultant more effective customer targeting Internal AI

9. Slide 9: Dominik Asam, CFO

   Dominik Asam CFO

10. Slide 10: SAP Q1 2026 Financial Results

    First Quarter 2026 Results Presentation | April 23, 2026 SAP Q1 2026 Financial Results Current cloud Total revenue Cloud & software Cloud revenue Cloud ERP Suite backlog revenue revenue € millions € millions € millions € millions € millions 21,932 9,555 8,548 5,962 5,214 ▲ +20% (+25% @cc) ▲ +6% (+12

11. Slide 11: Regional revenue performance

    First Quarter 2026 Results Presentation | April 23, 2026 Regional revenue performance AMERICAS EMEA APJ Cloud revenue Cloud revenue Cloud revenue ▲ +13% ▲ +27% ▲ +18% (+23% @cc) (+29% @cc) (+30% @cc) Cloud & Software Cloud & Software Cloud & Software revenue revenue revenue ▲ +3% ▲ +13% ▲ +5% (+13%

12. Slide 12: Revenue and gross profit development

    First Quarter 2026 Results Presentation | April 23, 2026 Revenue and gross profit development . Revenue Gross profit (Gross margin %) Non-IFRS in € millions, unless otherwise stated Q1 2026 ∆ in % ∆ in % @cc Q1 2026 ∆ in % ∆ in % @cc 4,481 Cloud 5,962 19 27 20 26 (75.2) SaaS/PaaS 5,896 21 28 IaaS 66

13. Slide 13: Tax rate, Cash flow, and Earnings per share

    First Quarter 2026 Results Presentation | April 23, 2026 Tax rate, Cash flow, and Earnings per share Effective tax rate Operating cash flow Free cash flow Earnings per share Q1 | percent Q1 | € millions Q1 | € millions Q1 | € IFRS Non-IFRS Basic Diluted Basic IFRS Non-IFRS 29.1 29.3 3,513 3,248 1.66

14. Slide 14: 2026 Financial outlook

    First Quarter 2026 Results Presentation | April 23, 2026 2026 Financial outlook1 2026 Non-financial outlook Cloud revenue Cloud & Software Current cloud Employee Cloud Customer revenue backlog engagement index Satisfaction € billions @cc € billions @cc percent @cc percent percent Slightly 25.8 – 26.

15. Slide 15: Q&A

    First Quarter 2026 Results Presentation | April 23, 2026 Q&A 15

16. Slide 16: Appendix

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix 16

17. Slide 17: Income statement: First quarter 2026

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Income statement: First quarter 2026 IFRS Non-IFRS € millions, unless otherwise stated Q1 26 Q1 25 ∆% Q1 26 Q1 25 ∆% ∆ % @cc Cloud 5,962 4,993 19 5,962 4,993 19 27 Software licenses 116 183 -37 116 183 -37 -33 Software support 2,469 2

18. Slide 18: Gross margin development

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Gross margin development Non-IFRS, in percent Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26 Cloud 73.5 73.3 75.0 75.2 75.1 74.6 75.0 75.2 Software licenses & support 91.0 90.1 90.1 89.0 88.9 90.4 89.6 88.9 Cloud & software 81.0 80.4

19. Slide 19: Cost ratios: First quarter 2026

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Cost ratios: First quarter 2026 | Total revenue: €9.6bn Non-IFRS as percent of total revenue Research & Sales & General development marketing administration 17.8% €1.7bn 21.8% €2.1bn 3.6% €0.3bn -0.8pp | -0.9pp @cc -1.9pp | -2.0pp @cc

20. Slide 20: Balance sheet condensed: March 31, 2026

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Balance sheet condensed: March 31, 2026 – IFRS Due to rounding, numbers may not add up precisely Assets Equity and liabilities € millions 03/31/26 12/31/25 € millions 03/31/26 12/31/25 Cash, cash equivalents and other financial assets

21. Slide 21: Cash flow development

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Cash flow development Due to rounding, numbers may not add up precisely € millions, unless otherwise stated Q1 2026 Q1 2025 ∆ in % Operating cash flow 3,513 3,780 -7 – Purchase of PPE & intangibles -238 -168 42 – Proceeds from sales o

22. Slide 22: Net debt

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Net debt Due to rounding, numbers may not add up precisely € millions, unless otherwise stated 2026 2025 Net liquidity (+)/Net Debt (-) | 12/31/2025 | PY: 12/31/2024 3,381 1,695 Net cash flows from operating activities 3,513 3,780 Cap

23. Slide 23: Additional outlook information and Non-IFRS adjustments

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Additional outlook information and Non-IFRS adjustments Due to rounding, numbers may not add up precisely The Company expects a full-year 2026 effective tax rate (Non-IFRS) of approximately 29% (2025: 30.5%). Actual Amounts Actual Amo

24. Slide 24: Expected currency impact

    First Quarter 2026 Results Presentation | April 23, 2026 Appendix Expected currency impact Expected currency impact based on March 31, 2026 Level applied for 2026 While SAP’s 2026 financial outlook for the income statement parameters is at constant currencies (including an average exchange rate of 1

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