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SAP SE 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated 02 October 2026.

41Reported items
518Asset managers
7,859Fund votes
2025-05-13Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore SAP SE in the interactive database Compare manager voting policies

How asset managers voted at the SAP SE 2024-2025 meeting

Each item below shows how the 518 asset managers that disclosed a SAP SE vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of SAP SE’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.1%

The 350 asset managers below cast 99.8% of the shares they voted on this item FOR (40,543,754 for, 44,770 against).

FOR: 40,543,754 (99.2%)AGAINST: 44,770 (0.1%)ABSTAIN: 184,624 (0.5%)NOT VOTED: 97,606 (0.2%)WITHHELD: 2,921 (0.0%)0: 30 (0.0%)

Largest asset managers voting on “RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
Six Circles Trust	4,476,318	0	For
WCM INVESTMENT MANAGEMENT, LLC	3,852,370	0	For
National Pension Service	3,096,209	0	For
Investment Managers Series Trust	2,715,463	0	For
EdgePoint Investment Group Inc.	2,683,138	0	For
EAGLE CAPITAL MANAGEMENT LLC	2,336,316	0	For
BlackRock	1,835,502	0	For
Northern Trust	1,766,121	0	For
WINDACRE PARTNERSHIP LLC	1,611,200	0	For
HARDING LOEVNER LP	1,360,408	0	For
1832 Asset Management L.P.	1,340,903	0	For
JPMorgan	1,073,711	0	For
Fiera Capital Corp	1,067,406	0	For
Korea Investment CORP	932,369	0	For
Jackson National	904,733	0	For
BAILLIE GIFFORD OVERSEAS LTD	820,363	0	For
John Hancock	714,015	0	For
ENVESTNET ASSET MANAGEMENT INC	691,461	0	For
HARDING LOEVNER FUNDS INC	622,025	0	For
Bridge Builder Trust	618,623	0	For
SEQUOIA FUND INC	575,172	0	For
Natixis	429,451	42	For
RAYMOND JAMES & ASSOCIATES	325,776	0	For
JARISLOWSKY, FRASER Ltd	324,992	0	For
Alua Capital Management LP	323,159	0	For

Showing the 25 largest of 350 asset managers. See all 350 in the interactive database.

2. Approve Remuneration Report

COMPENSATION

Meeting held 2025-05-13; no official results are on file for this meeting.

99.4% fund support · no official result

FOR 99.4%

The 126 asset managers below cast 99.4% of the shares they voted on this item FOR (151,279,781 for, 819,772 against).

FOR: 151,279,781 (99.5%)AGAINST: 819,772 (0.5%)ABSTAIN: 4,794 (0.0%)

Largest asset managers voting on “Approve Remuneration Report” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	32,241,629	0	0	For
Fidelity	24,931,214	0	0	For
Capital Group	18,957,764	0	0	For
EUPAC FUND	11,517,559	0	0	For
MFS	7,902,161	0	0	For
JPMorgan	5,875,155	0	4,794	For
Goldman Sachs	5,511,117	0	0	For
TIAA	4,875,164	0	0	For
T. Rowe Price	3,862,988	0	0	For
APG Asset Management US Inc.	3,074,763	0	0	For
State Street	2,844,708	0	0	For
Invesco	2,321,936	0	0	For
Walter Scott & Partners Ltd	1,470,993	0	0	For
Waddell & Reed	1,403,260	0	0	For
AMCAP FUND	1,230,645	0	0	For
INVESTMENT CO OF AMERICA	1,211,627	0	0	For
GMO	1,194,151	0	0	For
Dimensional	1,042,210	0	0	For
Equitable	979,022	4,018	0	For
AllianceBernstein	961,600	0	0	For
BlackRock	957,584	0	0	For
Morgan Stanley	885,448	0	0	For
Legg Mason	867,719	0	0	For
Columbia Threadneedle	862,205	0	0	For
Desjardins Global Asset Management Inc.	0	793,126	0	Against

Showing the 25 largest of 126 asset managers. See all 126 in the interactive database.

3. Appoint BDO AG as Auditor for Sustainability Reporting for Fiscal Year 2025

AUDIT-RELATED

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 121 asset managers below cast 100% of the shares they voted on this item FOR (140,093,048 for, 0 against).

FOR: 140,093,048 (100.0%)

Largest asset managers voting on “Appoint BDO AG as Auditor for Sustainability Reporting for Fiscal Year 2025” at SAP SE, 2024-2025
Asset manager	For	Vote
Vanguard	32,241,629	For
Fidelity	24,931,214	For
Capital Group	18,957,764	For
EUPAC FUND	11,517,559	For
MFS	7,902,161	For
Goldman Sachs	5,511,117	For
TIAA	4,875,164	For
T. Rowe Price	3,862,988	For
State Street	2,844,708	For
Invesco	2,321,936	For
Waddell & Reed	1,403,260	For
AMCAP FUND	1,230,645	For
INVESTMENT CO OF AMERICA	1,211,627	For
GMO	1,194,151	For
Dimensional	1,042,210	For
Equitable	983,040	For
AllianceBernstein	961,600	For
Morgan Stanley	885,448	For
Legg Mason	867,719	For
Columbia Threadneedle	862,205	For
WisdomTree	765,168	For
NEW ECONOMY FUND	622,121	For
TEMPLETON GROWTH FUND INC	620,319	For
American Century	613,286	For
BNY Mellon	611,483	For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

4. Approve Allocation of Income and Dividends of EUR 2.35 per Share

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 121 asset managers below cast 100% of the shares they voted on this item FOR (140,093,048 for, 0 against).

FOR: 140,093,048 (100.0%)

Largest asset managers voting on “Approve Allocation of Income and Dividends of EUR 2.35 per Share” at SAP SE, 2024-2025
Asset manager	For	Vote
Vanguard	32,241,629	For
Fidelity	24,931,214	For
Capital Group	18,957,764	For
EUPAC FUND	11,517,559	For
MFS	7,902,161	For
Goldman Sachs	5,511,117	For
TIAA	4,875,164	For
T. Rowe Price	3,862,988	For
State Street	2,844,708	For
Invesco	2,321,936	For
Waddell & Reed	1,403,260	For
AMCAP FUND	1,230,645	For
INVESTMENT CO OF AMERICA	1,211,627	For
GMO	1,194,151	For
Dimensional	1,042,210	For
Equitable	983,040	For
AllianceBernstein	961,600	For
Morgan Stanley	885,448	For
Legg Mason	867,719	For
Columbia Threadneedle	862,205	For
WisdomTree	765,168	For
NEW ECONOMY FUND	622,121	For
TEMPLETON GROWTH FUND INC	620,319	For
American Century	613,286	For
BNY Mellon	611,483	For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

5. Approve Creation of EUR 250 Million Pool of Authorized Capital I with Preemptive Rights

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

99.5% fund support · no official result

FOR 99.5%

The 121 asset managers below cast 99.5% of the shares they voted on this item FOR (139,436,455 for, 656,593 against).

FOR: 139,436,455 (99.5%)AGAINST: 656,593 (0.5%)

Largest asset managers voting on “Approve Creation of EUR 250 Million Pool of Authorized Capital I with Preemptive Rights” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Vanguard	32,171,739	69,890	For
Fidelity	24,931,214	0	For
Capital Group	18,957,764	0	For
EUPAC FUND	11,517,559	0	For
MFS	7,902,161	0	For
Goldman Sachs	5,511,117	0	For
TIAA	4,875,164	0	For
T. Rowe Price	3,862,988	0	For
State Street	2,844,708	0	For
Invesco	2,321,936	0	For
Waddell & Reed	1,403,260	0	For
AMCAP FUND	1,230,645	0	For
INVESTMENT CO OF AMERICA	1,211,627	0	For
GMO	1,194,151	0	For
Dimensional	1,042,210	0	For
Equitable	983,040	0	For
AllianceBernstein	961,600	0	For
Morgan Stanley	871,448	14,000	For
Legg Mason	867,719	0	For
Columbia Threadneedle	862,205	0	For
WisdomTree	765,168	0	For
NEW ECONOMY FUND	622,121	0	For
TEMPLETON GROWTH FUND INC	620,319	0	For
American Century	613,286	0	For
BNY Mellon	48,340	563,143	Against

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

6. Approve Creation of EUR 250 Million Pool of Authorized Capital II with or without Exclusion of Preemptive Rights

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

97% fund support · no official result

FOR 97%

The 121 asset managers below cast 97% of the shares they voted on this item FOR (135,457,183 for, 4,635,865 against).

FOR: 135,457,183 (96.7%)AGAINST: 4,635,865 (3.3%)

Largest asset managers voting on “Approve Creation of EUR 250 Million Pool of Authorized Capital II with or without Exclusion of Preemptive Righ” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Vanguard	32,171,739	69,890	For
Fidelity	24,849,116	82,098	For
Capital Group	18,957,764	0	For
EUPAC FUND	11,517,559	0	For
MFS	7,902,161	0	For
Goldman Sachs	5,511,117	0	For
TIAA	4,875,164	0	For
T. Rowe Price	2,333	3,860,655	Against
State Street	2,844,708	0	For
Invesco	2,321,936	0	For
Waddell & Reed	1,403,260	0	For
AMCAP FUND	1,230,645	0	For
INVESTMENT CO OF AMERICA	1,211,627	0	For
GMO	1,194,151	0	For
Dimensional	1,042,210	0	For
Equitable	983,040	0	For
AllianceBernstein	961,600	0	For
Morgan Stanley	871,448	14,000	For
Legg Mason	867,719	0	For
Columbia Threadneedle	862,205	0	For
WisdomTree	765,168	0	For
NEW ECONOMY FUND	622,121	0	For
TEMPLETON GROWTH FUND INC	620,319	0	For
American Century	613,286	0	For
BNY Mellon	48,340	563,143	Against

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

7. Approve Discharge of Management Board for Fiscal Year 2024

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 121 asset managers below cast 100% of the shares they voted on this item FOR (140,093,048 for, 0 against).

FOR: 140,093,048 (100.0%)

Largest asset managers voting on “Approve Discharge of Management Board for Fiscal Year 2024” at SAP SE, 2024-2025
Asset manager	For	Vote
Vanguard	32,241,629	For
Fidelity	24,931,214	For
Capital Group	18,957,764	For
EUPAC FUND	11,517,559	For
MFS	7,902,161	For
Goldman Sachs	5,511,117	For
TIAA	4,875,164	For
T. Rowe Price	3,862,988	For
State Street	2,844,708	For
Invesco	2,321,936	For
Waddell & Reed	1,403,260	For
AMCAP FUND	1,230,645	For
INVESTMENT CO OF AMERICA	1,211,627	For
GMO	1,194,151	For
Dimensional	1,042,210	For
Equitable	983,040	For
AllianceBernstein	961,600	For
Morgan Stanley	885,448	For
Legg Mason	867,719	For
Columbia Threadneedle	862,205	For
WisdomTree	765,168	For
NEW ECONOMY FUND	622,121	For
TEMPLETON GROWTH FUND INC	620,319	For
American Century	613,286	For
BNY Mellon	611,483	For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

8. Approve Discharge of Supervisory Board for Fiscal Year 2024

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 121 asset managers below cast 100% of the shares they voted on this item FOR (140,093,048 for, 0 against).

FOR: 140,093,048 (100.0%)

Largest asset managers voting on “Approve Discharge of Supervisory Board for Fiscal Year 2024” at SAP SE, 2024-2025
Asset manager	For	Vote
Vanguard	32,241,629	For
Fidelity	24,931,214	For
Capital Group	18,957,764	For
EUPAC FUND	11,517,559	For
MFS	7,902,161	For
Goldman Sachs	5,511,117	For
TIAA	4,875,164	For
T. Rowe Price	3,862,988	For
State Street	2,844,708	For
Invesco	2,321,936	For
Waddell & Reed	1,403,260	For
AMCAP FUND	1,230,645	For
INVESTMENT CO OF AMERICA	1,211,627	For
GMO	1,194,151	For
Dimensional	1,042,210	For
Equitable	983,040	For
AllianceBernstein	961,600	For
Morgan Stanley	885,448	For
Legg Mason	867,719	For
Columbia Threadneedle	862,205	For
WisdomTree	765,168	For
NEW ECONOMY FUND	622,121	For
TEMPLETON GROWTH FUND INC	620,319	For
American Century	613,286	For
BNY Mellon	611,483	For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

9. Approve Virtual-Only Shareholder Meetings Until 2027

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

99.1% fund support · no official result

FOR 99.1%

The 121 asset managers below cast 99.1% of the shares they voted on this item FOR (138,885,071 for, 1,206,950 against).

FOR: 138,885,071 (99.1%)AGAINST: 1,206,950 (0.9%)ABSTAIN: 1,027 (0.0%)

Largest asset managers voting on “Approve Virtual-Only Shareholder Meetings Until 2027” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Vanguard	32,241,629	0	For
Fidelity	24,931,214	0	For
Capital Group	18,957,764	0	For
EUPAC FUND	11,517,559	0	For
MFS	7,902,161	0	For
Goldman Sachs	5,511,117	0	For
TIAA	4,875,164	0	For
T. Rowe Price	3,862,988	0	For
State Street	2,844,708	0	For
Invesco	2,321,936	0	For
Waddell & Reed	1,403,260	0	For
AMCAP FUND	1,230,645	0	For
INVESTMENT CO OF AMERICA	1,211,627	0	For
GMO	1,194,151	0	For
Dimensional	1,042,210	0	For
Equitable	979,022	4,018	For
AllianceBernstein	961,600	0	For
Morgan Stanley	60,534	824,914	Against
Legg Mason	867,719	0	For
Columbia Threadneedle	862,205	0	For
WisdomTree	765,168	0	For
NEW ECONOMY FUND	622,121	0	For
TEMPLETON GROWTH FUND INC	620,319	0	For
American Century	613,286	0	For
BNY Mellon	611,483	0	For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

10. Ratify BDO AG as Auditors for Fiscal Year 2025

AUDIT-RELATED

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 121 asset managers below cast 100% of the shares they voted on this item FOR (140,093,048 for, 0 against).

FOR: 140,093,048 (100.0%)

Largest asset managers voting on “Ratify BDO AG as Auditors for Fiscal Year 2025” at SAP SE, 2024-2025
Asset manager	For	Vote
Vanguard	32,241,629	For
Fidelity	24,931,214	For
Capital Group	18,957,764	For
EUPAC FUND	11,517,559	For
MFS	7,902,161	For
Goldman Sachs	5,511,117	For
TIAA	4,875,164	For
T. Rowe Price	3,862,988	For
State Street	2,844,708	For
Invesco	2,321,936	For
Waddell & Reed	1,403,260	For
AMCAP FUND	1,230,645	For
INVESTMENT CO OF AMERICA	1,211,627	For
GMO	1,194,151	For
Dimensional	1,042,210	For
Equitable	983,040	For
AllianceBernstein	961,600	For
Morgan Stanley	885,448	For
Legg Mason	867,719	For
Columbia Threadneedle	862,205	For
WisdomTree	765,168	For
NEW ECONOMY FUND	622,121	For
TEMPLETON GROWTH FUND INC	620,319	For
American Century	613,286	For
BNY Mellon	611,483	For

Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.

11. RESOLUTION ON THE APPROPRIATION OF THE RETAINED EARNINGS FOR FISCAL YEAR 2024

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.9%

The 60 asset managers below cast 100% of the shares they voted on this item FOR (14,095,714 for, 0 against).

FOR: 14,095,714 (99.9%)ABSTAIN: 3,759 (0.0%)NOT VOTED: 4,000 (0.0%)WITHHELD: 2,921 (0.0%)

Largest asset managers voting on “RESOLUTION ON THE APPROPRIATION OF THE RETAINED EARNINGS FOR FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset manager	For	Vote
Six Circles Trust	4,476,318	For
Investment Managers Series Trust	2,715,463	For
JPMorgan	1,063,473	For
BlackRock	963,415	For
Jackson National	904,733	For
John Hancock	714,015	For
HARDING LOEVNER FUNDS INC	622,025	For
Bridge Builder Trust	618,623	For
SEQUOIA FUND INC	575,172	For
BAILLIE GIFFORD FUNDS	188,756	For
BBH Trust	174,405	For
Calamos	168,033	For
MARSICO INVESTMENT FUND	129,057	For
Harbor ETF Trust	98,498	For
BUFFALO FUNDS	87,391	For
Natixis	82,501	For
Allianz	77,942	For
TRUST FOR PROFESSIONAL MANAGERS	66,877	For
RBC FUNDS TRUST	56,908	For
Guardian Variable Products Trust	40,881	For
PFM Multi-Manager Series Trust	38,080	For
CARILLON SERIES TRUST	37,401	For
HARBOR FUNDS	30,786	For
SCHWARTZ INVESTMENT TRUST	22,300	For
Advisors' Inner Circle Fund III	18,340	For

Showing the 25 largest of 60 asset managers. See all 60 in the interactive database.

12. RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE EXECUTIVE BOARD IN FISCAL YEAR 2024

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.9%

The 60 asset managers below cast 100% of the shares they voted on this item FOR (14,095,714 for, 0 against).

FOR: 14,095,714 (99.9%)ABSTAIN: 3,759 (0.0%)NOT VOTED: 4,000 (0.0%)WITHHELD: 2,921 (0.0%)

Largest asset managers voting on “RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE EXECUTIVE BOARD IN FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset manager	For	Vote
Six Circles Trust	4,476,318	For
Investment Managers Series Trust	2,715,463	For
JPMorgan	1,063,473	For
BlackRock	963,415	For
Jackson National	904,733	For
John Hancock	714,015	For
HARDING LOEVNER FUNDS INC	622,025	For
Bridge Builder Trust	618,623	For
SEQUOIA FUND INC	575,172	For
BAILLIE GIFFORD FUNDS	188,756	For
BBH Trust	174,405	For
Calamos	168,033	For
MARSICO INVESTMENT FUND	129,057	For
Harbor ETF Trust	98,498	For
BUFFALO FUNDS	87,391	For
Natixis	82,501	For
Allianz	77,942	For
TRUST FOR PROFESSIONAL MANAGERS	66,877	For
RBC FUNDS TRUST	56,908	For
Guardian Variable Products Trust	40,881	For
PFM Multi-Manager Series Trust	38,080	For
CARILLON SERIES TRUST	37,401	For
HARBOR FUNDS	30,786	For
SCHWARTZ INVESTMENT TRUST	22,300	For
Advisors' Inner Circle Fund III	18,340	For

Showing the 25 largest of 60 asset managers. See all 60 in the interactive database.

13. RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE SUPERVISORY BOARD IN FISCAL YEAR 2024

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.9%

The 60 asset managers below cast 100% of the shares they voted on this item FOR (14,095,714 for, 0 against).

FOR: 14,095,714 (99.9%)ABSTAIN: 3,759 (0.0%)NOT VOTED: 4,000 (0.0%)WITHHELD: 2,921 (0.0%)

Largest asset managers voting on “RESOLUTION ON THE FORMAL APPROVAL OF THE ACTS OF THE SUPERVISORY BOARD IN FISCAL YEAR 2024” at SAP SE, 2024-2025
Asset manager	For	Vote
Six Circles Trust	4,476,318	For
Investment Managers Series Trust	2,715,463	For
JPMorgan	1,063,473	For
BlackRock	963,415	For
Jackson National	904,733	For
John Hancock	714,015	For
HARDING LOEVNER FUNDS INC	622,025	For
Bridge Builder Trust	618,623	For
SEQUOIA FUND INC	575,172	For
BAILLIE GIFFORD FUNDS	188,756	For
BBH Trust	174,405	For
Calamos	168,033	For
MARSICO INVESTMENT FUND	129,057	For
Harbor ETF Trust	98,498	For
BUFFALO FUNDS	87,391	For
Natixis	82,501	For
Allianz	77,942	For
TRUST FOR PROFESSIONAL MANAGERS	66,877	For
RBC FUNDS TRUST	56,908	For
Guardian Variable Products Trust	40,881	For
PFM Multi-Manager Series Trust	38,080	For
CARILLON SERIES TRUST	37,401	For
HARBOR FUNDS	30,786	For
SCHWARTZ INVESTMENT TRUST	22,300	For
Advisors' Inner Circle Fund III	18,340	For

Showing the 25 largest of 60 asset managers. See all 60 in the interactive database.

14. RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL I AND THE CREATION OF NEW AUTHORIZED CAPITAL I FOR THE ISSUANCE OF SHARES AGAINST CONTRIBUTIONS IN CASH, WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS' SUBSCRIPTION RIGHTS (IN RESPECT OF FRACTIONAL SHARES ONLY)

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.7%

The 60 asset managers below cast 99.8% of the shares they voted on this item FOR (14,155,626 for, 16,371 against).

FOR: 14,155,626 (99.8%)AGAINST: 16,371 (0.1%)ABSTAIN: 8,259 (0.1%)NOT VOTED: 4,000 (0.0%)

Largest asset managers voting on “RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL I AND THE CREATION OF NEW AUTHORIZED CAPITAL I” at SAP SE, 2024-2025
Asset manager	For	Vote
Six Circles Trust	4,476,318	For
Investment Managers Series Trust	2,715,463	For
JPMorgan	1,063,473	For
BlackRock	963,415	For
Jackson National	904,733	For
John Hancock	714,015	For
HARDING LOEVNER FUNDS INC	622,025	For
Bridge Builder Trust	618,623	For
SEQUOIA FUND INC	575,172	For
BAILLIE GIFFORD FUNDS	188,756	For
BBH Trust	174,405	For
Calamos	168,033	For
MARSICO INVESTMENT FUND	129,057	For
Harbor ETF Trust	98,498	For
BUFFALO FUNDS	87,391	For
Natixis	82,501	For
UNITED CAPITAL FINANCIAL ADVISORS, LLC	80,783	For
Allianz	77,942	For
TRUST FOR PROFESSIONAL MANAGERS	66,877	For
RBC FUNDS TRUST	56,908	For
Guardian Variable Products Trust	40,881	For
PFM Multi-Manager Series Trust	38,080	For
CARILLON SERIES TRUST	37,401	For
HARBOR FUNDS	30,786	For
SCHWARTZ INVESTMENT TRUST	22,300	For

Showing the 25 largest of 60 asset managers. See all 60 in the interactive database.

15. RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL II AND THE CREATION OF NEW AUTHORIZED CAPITAL II FOR THE ISSUANCE OF SHARES AGAINST CONTRIBUTIONS IN CASH OR IN KIND, WITH THE OPTION TO EXCLUDE THE SHAREHOLDERS' SUBSCRIPTION RIGHTS, AND ON THE CORRESPONDING AMENDMENT OF SECTION 4 (6) OF THE ARTICLES OF INCORPORATION

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

99.6% fund support · no official result

FOR 99.5%

The 60 asset managers below cast 99.6% of the shares they voted on this item FOR (14,116,264 for, 55,733 against).

FOR: 14,116,264 (99.5%)AGAINST: 55,733 (0.4%)ABSTAIN: 8,259 (0.1%)NOT VOTED: 4,000 (0.0%)

Largest asset managers voting on “RESOLUTION ON THE REVOCATION OF THE EXISTING AUTHORIZED CAPITAL II AND THE CREATION OF NEW AUTHORIZED CAPITAL ” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	4,476,318	0	For
Investment Managers Series Trust	2,715,463	0	For
JPMorgan	1,063,473	0	For
BlackRock	963,415	0	For
Jackson National	897,684	7,049	For
John Hancock	681,702	32,313	For
HARDING LOEVNER FUNDS INC	622,025	0	For
Bridge Builder Trust	618,623	0	For
SEQUOIA FUND INC	575,172	0	For
BAILLIE GIFFORD FUNDS	188,756	0	For
BBH Trust	174,405	0	For
Calamos	168,033	0	For
MARSICO INVESTMENT FUND	129,057	0	For
Harbor ETF Trust	98,498	0	For
BUFFALO FUNDS	87,391	0	For
Natixis	82,501	0	For
UNITED CAPITAL FINANCIAL ADVISORS, LLC	80,783	0	For
Allianz	77,942	0	For
TRUST FOR PROFESSIONAL MANAGERS	66,877	0	For
RBC FUNDS TRUST	56,908	0	For
Guardian Variable Products Trust	40,881	0	For
PFM Multi-Manager Series Trust	38,080	0	For
CARILLON SERIES TRUST	37,401	0	For
HARBOR FUNDS	30,786	0	For
SCHWARTZ INVESTMENT TRUST	22,300	0	For

Showing the 25 largest of 60 asset managers. See all 60 in the interactive database.

16. APPOINTMENT OF THE AUDITORS OF THE SUSTAINABILITY REPORTING FOR FISCAL YEAR 2025

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.9%

The 59 asset managers below cast 100% of the shares they voted on this item FOR (14,095,606 for, 0 against).

FOR: 14,095,606 (99.9%)ABSTAIN: 3,759 (0.0%)NOT VOTED: 4,000 (0.0%)WITHHELD: 2,921 (0.0%)

Largest asset managers voting on “APPOINTMENT OF THE AUDITORS OF THE SUSTAINABILITY REPORTING FOR FISCAL YEAR 2025” at SAP SE, 2024-2025
Asset manager	For	Vote
Six Circles Trust	4,476,318	For
Investment Managers Series Trust	2,715,463	For
JPMorgan	1,063,473	For
BlackRock	963,415	For
Jackson National	904,733	For
John Hancock	714,015	For
HARDING LOEVNER FUNDS INC	622,025	For
Bridge Builder Trust	618,623	For
SEQUOIA FUND INC	575,172	For
BAILLIE GIFFORD FUNDS	188,756	For
BBH Trust	174,405	For
Calamos	168,033	For
MARSICO INVESTMENT FUND	129,057	For
Harbor ETF Trust	98,498	For
BUFFALO FUNDS	87,391	For
Natixis	82,501	For
Allianz	77,942	For
TRUST FOR PROFESSIONAL MANAGERS	66,877	For
RBC FUNDS TRUST	56,908	For
Guardian Variable Products Trust	40,881	For
PFM Multi-Manager Series Trust	38,080	For
CARILLON SERIES TRUST	37,401	For
HARBOR FUNDS	30,786	For
SCHWARTZ INVESTMENT TRUST	22,300	For
Advisors' Inner Circle Fund III	18,340	For

Showing the 25 largest of 59 asset managers. See all 59 in the interactive database.

17. RESOLUTION ON A NEW AUTHORIZATION TO ENABLE VIRTUAL GENERAL MEETINGS OF SHAREHOLDERS AND ON THE CORRESPONDING AMENDMENT OF ARTICLE 20A (1) OF THE ARTICLES OF INCORPORATION

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

99.7% fund support · no official result

FOR 99.7%

The 59 asset managers below cast 99.7% of the shares they voted on this item FOR (14,067,238 for, 28,476 against).

FOR: 14,067,238 (99.7%)AGAINST: 28,476 (0.2%)ABSTAIN: 3,759 (0.0%)NOT VOTED: 4,000 (0.0%)

Largest asset managers voting on “RESOLUTION ON A NEW AUTHORIZATION TO ENABLE VIRTUAL GENERAL MEETINGS OF SHAREHOLDERS AND ON THE CORRESPONDING ” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	4,476,318	0	For
Investment Managers Series Trust	2,715,463	0	For
JPMorgan	1,063,473	0	For
BlackRock	963,415	0	For
Jackson National	904,733	0	For
John Hancock	714,015	0	For
HARDING LOEVNER FUNDS INC	622,025	0	For
Bridge Builder Trust	618,623	0	For
SEQUOIA FUND INC	575,172	0	For
BAILLIE GIFFORD FUNDS	188,756	0	For
BBH Trust	174,405	0	For
Calamos	168,033	0	For
MARSICO INVESTMENT FUND	129,057	0	For
Harbor ETF Trust	98,498	0	For
BUFFALO FUNDS	87,391	0	For
Natixis	82,501	0	For
Allianz	77,942	0	For
TRUST FOR PROFESSIONAL MANAGERS	66,877	0	For
RBC FUNDS TRUST	56,908	0	For
Guardian Variable Products Trust	12,405	28,476	Against
PFM Multi-Manager Series Trust	38,080	0	For
CARILLON SERIES TRUST	37,401	0	For
HARBOR FUNDS	30,786	0	For
SCHWARTZ INVESTMENT TRUST	22,300	0	For
Advisors' Inner Circle Fund III	18,340	0	For

Showing the 25 largest of 59 asset managers. See all 59 in the interactive database.

18. APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND THE GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCAL YEAR 2025

OTHER

Meeting held 2025-05-13; no official results are on file for this meeting.

99.3% fund support · no official result

FOR 99.3%

The 36 asset managers below cast 99.3% of the shares they voted on this item FOR (13,040,447 for, 82,501 against).

FOR: 13,040,447 (99.4%)AGAINST: 82,501 (0.6%)

Largest asset managers voting on “APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND THE GROUP ANNUAL FINANCIAL STATEMENTS FOR F” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	4,476,318	0	For
Investment Managers Series Trust	2,715,463	0	For
JPMorgan	1,063,473	0	For
BlackRock	956,214	0	For
Jackson National	904,733	0	For
John Hancock	714,015	0	For
Bridge Builder Trust	618,623	0	For
SEQUOIA FUND INC	575,172	0	For
BAILLIE GIFFORD FUNDS	188,756	0	For
BBH Trust	174,405	0	For
Calamos	167,799	0	For
Harbor ETF Trust	98,498	0	For
Natixis	0	82,501	Against
Allianz	77,942	0	For
RBC FUNDS TRUST	56,908	0	For
PFM Multi-Manager Series Trust	38,080	0	For
Guardian Variable Products Trust	37,490	0	For
CARILLON SERIES TRUST	37,401	0	For
HARBOR FUNDS	30,786	0	For
SCHWARTZ INVESTMENT TRUST	22,300	0	For
Advisors' Inner Circle Fund III	18,340	0	For
TRUST FOR PROFESSIONAL MANAGERS	9,120	0	For
WILSHIRE MUTUAL FUNDS INC	8,205	0	For
American Beacon Institutional Funds Trust	7,830	0	For
Forethought Variable Insurance Trust	7,033	0	For

Showing the 25 largest of 36 asset managers. See all 36 in the interactive database.

19. Remuneration Report

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-13; no official results are on file for this meeting.

67% fund support · no official result

FOR 67%AGAINST 33%

The 29 asset managers below cast 67% of the shares they voted on this item FOR (6,653,696 for, 3,263,070 against).

FOR: 6,653,696 (66.9%)AGAINST: 3,263,070 (32.8%)ABSTAIN: 33,255 (0.3%)

Largest asset managers voting on “Remuneration Report” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Vote
Charles Schwab	3,208,502	0	0	For
Vanguard	155,938	2,171,680	0	Against
Hartford	440,461	1,001,554	0	Against
Prudential/PGIM	1,172,408	0	0	For
SEI	636,099	0	0	For
Mercer Funds	238,419	0	0	For
Russell Investments	200,199	0	0	For
Federated Hermes	132,649	0	0	For
Global X	114,985	0	0	For
DOMINI INVESTMENT TRUST	0	66,700	0	Against
Nationwide	52,494	0	0	For
Neuberger Berman	51,345	0	0	For
Fidelity	51,300	0	0	For
Brighthouse	2	5,221	33,255	Abstain
Datum One Series Trust	36,597	0	0	For
Equitable	32,551	0	0	For
SEI Exchange Traded Funds	28,516	0	0	For
ALGERT GLOBAL LLC	28,079	0	0	For
Northwestern Mutual	18,451	0	0	For
Morgan Stanley	0	17,915	0	Against
PACE SELECT ADVISORS TRUST	16,706	0	0	For
Brown Capital Management Mutual Funds	10,141	0	0	For
Victory Capital	10,008	0	0	For
2023 ETF Series Trust	7,018	0	0	For
Forethought Variable Insurance Trust	4,494	0	0	For

Showing the 25 largest of 29 asset managers. See all 29 in the interactive database.

20. APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCAL YEAR 2025

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 98%

The 28 asset managers below cast 100% of the shares they voted on this item FOR (959,258 for, 0 against).

FOR: 959,258 (97.6%)ABSTAIN: 3,759 (0.4%)NOT VOTED: 17,400 (1.8%)WITHHELD: 2,921 (0.3%)

Largest asset managers voting on “APPOINTMENT OF THE AUDITORS OF THE ANNUAL FINANCIAL STATEMENTS AND GROUP ANNUAL FINANCIAL STATEMENTS FOR FISCA” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
HARDING LOEVNER FUNDS INC	622,025	0	For
MARSICO INVESTMENT FUND	129,057	0	For
BUFFALO FUNDS	87,391	0	For
TRUST FOR PROFESSIONAL MANAGERS	57,757	0	For
SATURNA INVESTMENT TRUST	13,780	0	For
ALLIED ASSET ADVISORS FUNDS	0	0	Not Voted
Ultimus Managers Trust	8,781	3,632	For
BlackRock	7,201	0	For
ADVISORS SERIES TRUST	6,202	0	For
Gabelli	4,500	0	For
UNIFIED SERIES TRUST	0	0	Not Voted
Precidian ETFs Trust	3,847	0	For
CITY NATIONAL ROCHDALE FUNDS	3,846	0	For
RBB FUND, INC.	3,821	0	For
Guardian Variable Products Trust	3,391	0	For
NORTHERN LIGHTS FUND TRUST II	0	0	Withheld
Pacer Funds Trust	2,400	0	For
Tidal Trust I	1,248	0	For
ETF Series Solutions	1,000	0	For
Amplify ETF Trust	848	0	For
Decatur Capital Management, Inc.	671	0	For
Gateway Trust	589	0	For
Tidal Trust II	445	0	For
Calamos	234	0	For
Multi-Select Securities Fund for Puerto Rico Residents	185	0	For

Showing the 25 largest of 28 asset managers. See all 28 in the interactive database.

21. Allocation of Dividends

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 99.6%

The 27 asset managers below cast 100% of the shares they voted on this item FOR (9,887,819 for, 0 against).

FOR: 9,887,819 (99.7%)ABSTAIN: 33,255 (0.3%)

Largest asset managers voting on “Allocation of Dividends” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
Charles Schwab	3,208,502	0	For
Vanguard	2,327,618	0	For
Hartford	1,442,015	0	For
Prudential/PGIM	1,172,408	0	For
SEI	636,099	0	For
Mercer Funds	238,419	0	For
Russell Investments	200,199	0	For
Federated Hermes	132,649	0	For
Global X	114,985	0	For
DOMINI INVESTMENT TRUST	66,700	0	For
Nationwide	52,494	0	For
Neuberger Berman	51,345	0	For
Fidelity	51,300	0	For
Brighthouse	5,223	33,255	Abstain
Datum One Series Trust	36,597	0	For
Equitable	32,551	0	For
SEI Exchange Traded Funds	28,516	0	For
Northwestern Mutual	18,451	0	For
Morgan Stanley	17,915	0	For
PACE SELECT ADVISORS TRUST	16,706	0	For
Brown Capital Management Mutual Funds	10,141	0	For
Victory Capital	10,008	0	For
2023 ETF Series Trust	7,018	0	For
Forethought Variable Insurance Trust	4,494	0	For
LOUISBOURG INVESTMENTS INC.	4,180	0	For

Showing the 25 largest of 27 asset managers. See all 27 in the interactive database.

22. Amendments to Articles (Virtual Meeting)

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

68% fund support · no official result

FOR 67%AGAINST 32%

The 26 asset managers below cast 68% of the shares they voted on this item FOR (6,687,269 for, 3,196,370 against).

FOR: 6,687,269 (67.4%)AGAINST: 3,196,370 (32.2%)ABSTAIN: 33,255 (0.3%)

Largest asset managers voting on “Amendments to Articles (Virtual Meeting)” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Vote
Charles Schwab	3,208,502	0	0	For
Vanguard	155,938	2,171,680	0	Against
Hartford	440,461	1,001,554	0	Against
Prudential/PGIM	1,172,408	0	0	For
SEI	636,099	0	0	For
Mercer Funds	238,419	0	0	For
Russell Investments	200,199	0	0	For
Federated Hermes	132,649	0	0	For
Global X	114,985	0	0	For
DOMINI INVESTMENT TRUST	66,700	0	0	For
Nationwide	52,494	0	0	For
Neuberger Berman	51,345	0	0	For
Fidelity	51,300	0	0	For
Brighthouse	2	5,221	33,255	Abstain
Datum One Series Trust	36,597	0	0	For
Equitable	32,551	0	0	For
SEI Exchange Traded Funds	28,516	0	0	For
Northwestern Mutual	18,451	0	0	For
Morgan Stanley	0	17,915	0	Against
PACE SELECT ADVISORS TRUST	16,706	0	0	For
Brown Capital Management Mutual Funds	10,141	0	0	For
Victory Capital	10,008	0	0	For
2023 ETF Series Trust	7,018	0	0	For
Forethought Variable Insurance Trust	4,494	0	0	For
Morningstar Funds Trust	1,014	0	0	For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

23. Appointment of Auditor

AUDIT-RELATED

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 99.6%

The 26 asset managers below cast 100% of the shares they voted on this item FOR (9,883,639 for, 0 against).

FOR: 9,883,639 (99.7%)ABSTAIN: 33,255 (0.3%)

Largest asset managers voting on “Appointment of Auditor” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
Charles Schwab	3,208,502	0	For
Vanguard	2,327,618	0	For
Hartford	1,442,015	0	For
Prudential/PGIM	1,172,408	0	For
SEI	636,099	0	For
Mercer Funds	238,419	0	For
Russell Investments	200,199	0	For
Federated Hermes	132,649	0	For
Global X	114,985	0	For
DOMINI INVESTMENT TRUST	66,700	0	For
Nationwide	52,494	0	For
Neuberger Berman	51,345	0	For
Fidelity	51,300	0	For
Brighthouse	5,223	33,255	Abstain
Datum One Series Trust	36,597	0	For
Equitable	32,551	0	For
SEI Exchange Traded Funds	28,516	0	For
Northwestern Mutual	18,451	0	For
Morgan Stanley	17,915	0	For
PACE SELECT ADVISORS TRUST	16,706	0	For
Brown Capital Management Mutual Funds	10,141	0	For
Victory Capital	10,008	0	For
2023 ETF Series Trust	7,018	0	For
Forethought Variable Insurance Trust	4,494	0	For
Morningstar Funds Trust	1,014	0	For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

24. Appointment of Auditor for Sustainability Reporting

AUDIT-RELATED

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 99.6%

The 26 asset managers below cast 100% of the shares they voted on this item FOR (9,883,639 for, 0 against).

FOR: 9,883,639 (99.7%)ABSTAIN: 33,255 (0.3%)

Largest asset managers voting on “Appointment of Auditor for Sustainability Reporting” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
Charles Schwab	3,208,502	0	For
Vanguard	2,327,618	0	For
Hartford	1,442,015	0	For
Prudential/PGIM	1,172,408	0	For
SEI	636,099	0	For
Mercer Funds	238,419	0	For
Russell Investments	200,199	0	For
Federated Hermes	132,649	0	For
Global X	114,985	0	For
DOMINI INVESTMENT TRUST	66,700	0	For
Nationwide	52,494	0	For
Neuberger Berman	51,345	0	For
Fidelity	51,300	0	For
Brighthouse	5,223	33,255	Abstain
Datum One Series Trust	36,597	0	For
Equitable	32,551	0	For
SEI Exchange Traded Funds	28,516	0	For
Northwestern Mutual	18,451	0	For
Morgan Stanley	17,915	0	For
PACE SELECT ADVISORS TRUST	16,706	0	For
Brown Capital Management Mutual Funds	10,141	0	For
Victory Capital	10,008	0	For
2023 ETF Series Trust	7,018	0	For
Forethought Variable Insurance Trust	4,494	0	For
Morningstar Funds Trust	1,014	0	For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

25. Increase in Authorised Capital I

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

99.5% fund support · no official result

FOR 99.5%

The 26 asset managers below cast 99.5% of the shares they voted on this item FOR (9,873,279 for, 43,615 against).

FOR: 9,873,279 (99.6%)AGAINST: 43,615 (0.4%)

Largest asset managers voting on “Increase in Authorised Capital I” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Charles Schwab	3,208,502	0	For
Vanguard	2,327,618	0	For
Hartford	1,442,015	0	For
Prudential/PGIM	1,172,408	0	For
SEI	636,099	0	For
Mercer Funds	238,419	0	For
Russell Investments	200,199	0	For
Federated Hermes	132,649	0	For
Global X	114,985	0	For
DOMINI INVESTMENT TRUST	66,700	0	For
Nationwide	52,494	0	For
Neuberger Berman	51,345	0	For
Fidelity	51,300	0	For
Brighthouse	38,478	0	For
Datum One Series Trust	0	36,597	Against
Equitable	32,551	0	For
SEI Exchange Traded Funds	28,516	0	For
Northwestern Mutual	18,451	0	For
Morgan Stanley	17,915	0	For
PACE SELECT ADVISORS TRUST	16,706	0	For
Brown Capital Management Mutual Funds	10,141	0	For
Victory Capital	10,008	0	For
2023 ETF Series Trust	0	7,018	Against
Forethought Variable Insurance Trust	4,494	0	For
Morningstar Funds Trust	1,014	0	For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

26. Increase in Authorised Capital II

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

99.5% fund support · no official result

FOR 99.5%

The 26 asset managers below cast 99.5% of the shares they voted on this item FOR (9,873,279 for, 43,615 against).

FOR: 9,873,279 (99.6%)AGAINST: 43,615 (0.4%)

Largest asset managers voting on “Increase in Authorised Capital II” at SAP SE, 2024-2025
Asset manager	For	Against	Vote
Charles Schwab	3,208,502	0	For
Vanguard	2,327,618	0	For
Hartford	1,442,015	0	For
Prudential/PGIM	1,172,408	0	For
SEI	636,099	0	For
Mercer Funds	238,419	0	For
Russell Investments	200,199	0	For
Federated Hermes	132,649	0	For
Global X	114,985	0	For
DOMINI INVESTMENT TRUST	66,700	0	For
Nationwide	52,494	0	For
Neuberger Berman	51,345	0	For
Fidelity	51,300	0	For
Brighthouse	38,478	0	For
Datum One Series Trust	0	36,597	Against
Equitable	32,551	0	For
SEI Exchange Traded Funds	28,516	0	For
Northwestern Mutual	18,451	0	For
Morgan Stanley	17,915	0	For
PACE SELECT ADVISORS TRUST	16,706	0	For
Brown Capital Management Mutual Funds	10,141	0	For
Victory Capital	10,008	0	For
2023 ETF Series Trust	0	7,018	Against
Forethought Variable Insurance Trust	4,494	0	For
Morningstar Funds Trust	1,014	0	For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

27. Ratification of Management Board Acts

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 99.6%

The 26 asset managers below cast 100% of the shares they voted on this item FOR (9,883,639 for, 0 against).

FOR: 9,883,639 (99.7%)ABSTAIN: 33,255 (0.3%)

Largest asset managers voting on “Ratification of Management Board Acts” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
Charles Schwab	3,208,502	0	For
Vanguard	2,327,618	0	For
Hartford	1,442,015	0	For
Prudential/PGIM	1,172,408	0	For
SEI	636,099	0	For
Mercer Funds	238,419	0	For
Russell Investments	200,199	0	For
Federated Hermes	132,649	0	For
Global X	114,985	0	For
DOMINI INVESTMENT TRUST	66,700	0	For
Nationwide	52,494	0	For
Neuberger Berman	51,345	0	For
Fidelity	51,300	0	For
Brighthouse	5,223	33,255	Abstain
Datum One Series Trust	36,597	0	For
Equitable	32,551	0	For
SEI Exchange Traded Funds	28,516	0	For
Northwestern Mutual	18,451	0	For
Morgan Stanley	17,915	0	For
PACE SELECT ADVISORS TRUST	16,706	0	For
Brown Capital Management Mutual Funds	10,141	0	For
Victory Capital	10,008	0	For
2023 ETF Series Trust	7,018	0	For
Forethought Variable Insurance Trust	4,494	0	For
Morningstar Funds Trust	1,014	0	For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

28. Ratification of Supervisory Board Acts

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 99.6%

The 26 asset managers below cast 100% of the shares they voted on this item FOR (9,883,639 for, 0 against).

FOR: 9,883,639 (99.7%)ABSTAIN: 33,255 (0.3%)

Largest asset managers voting on “Ratification of Supervisory Board Acts” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
Charles Schwab	3,208,502	0	For
Vanguard	2,327,618	0	For
Hartford	1,442,015	0	For
Prudential/PGIM	1,172,408	0	For
SEI	636,099	0	For
Mercer Funds	238,419	0	For
Russell Investments	200,199	0	For
Federated Hermes	132,649	0	For
Global X	114,985	0	For
DOMINI INVESTMENT TRUST	66,700	0	For
Nationwide	52,494	0	For
Neuberger Berman	51,345	0	For
Fidelity	51,300	0	For
Brighthouse	5,223	33,255	Abstain
Datum One Series Trust	36,597	0	For
Equitable	32,551	0	For
SEI Exchange Traded Funds	28,516	0	For
Northwestern Mutual	18,451	0	For
Morgan Stanley	17,915	0	For
PACE SELECT ADVISORS TRUST	16,706	0	For
Brown Capital Management Mutual Funds	10,141	0	For
Victory Capital	10,008	0	For
2023 ETF Series Trust	7,018	0	For
Forethought Variable Insurance Trust	4,494	0	For
Morningstar Funds Trust	1,014	0	For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

29. Receive Financial Statements and Statutory Reports for Fiscal Year 2024 (Non-Voting)

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

ABSTAIN 22%NOT VOTED 23%NO VOTE 18%N/A 16%13%

The 15 asset managers below cast 100% of the shares they voted on this item FOR (68,004 for, 0 against).

FOR: 68,004 (4.5%)ABSTAIN: 336,487 (22.4%)NOT VOTED: 341,295 (22.7%)NO VOTE: 277,627 (18.5%)N/A: 246,509 (16.4%)UNKNOWN: 197,716 (13.1%)NON-VOTING MATTER: 35,933 (2.4%)

Largest asset managers voting on “Receive Financial Statements and Statutory Reports for Fiscal Year 2024 (Non-Voting)” at SAP SE, 2024-2025
Asset manager	For	Abstain	Vote
Lincoln Financial	0	24,302	Not Voted
Brighthouse	0	0	No Vote
Empower	0	0	N/A
Catholic Responsible Investments Funds	0	157,944	Abstain
FundVantage Trust	0	0	Unknown
Advisors' Inner Circle Fund III	0	96,905	Abstain
BBR ALO Fund, LLC	0	0	Unknown
LITMAN GREGORY FUNDS TRUST	66,588	0	For
Advisors' Inner Circle Fund II	0	57,288	Abstain
Pear Tree Funds	0	0	Non-Voting Matter
Northern Lights Variable Trust	1,416	0	For
JOHNSON MUTUAL FUNDS TRUST	0	0	Unknown
AdvisorShares Trust	0	0	Unknown
Symmetry Panoramic Trust	0	48	Abstain
Dunham Funds	0	0	--

30. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-13; no official results are on file for this meeting.

96% fund support · no official result

FOR 96%

The 10 asset managers below cast 96% of the shares they voted on this item FOR (4,685,604 for, 184,043 against).

FOR: 4,685,604 (96.0%)AGAINST: 184,043 (3.8%)ABSTAIN: 9,065 (0.2%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Vote
TD ASSET MANAGEMENT INC	3,237,135	0	0	For
GROUPAMA ASSET MANAGMENT	745,596	0	0	For
Mirova US LLC	543,621	82,056	0	For
Regime de rentes du Mouvement Desjardins	0	101,987	0	Against
TD Waterhouse Canada Inc.	80,797	0	0	For
CAMBIAR INVESTORS LLC	74,221	0	0	For
Coyle Financial Counsel LLC	0	0	4,274	Abstain
SIERRA SUMMIT ADVISORS LLC	0	0	4,274	Abstain
ALGEBRIS (UK) LTD	4,234	0	0	For
Investment Partners Asset Management, Inc.	0	0	517	Abstain

31. Resolution on the approval of the compensation report for fiscal year 2023

SECTION 14A SAY-ON-PAY VOTES

Reported under meeting date 2024-05-15; no official results on file for that date (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

100% fund support · no official result

FOR 100%

The 5 asset managers below cast 100% of the shares they voted on this item FOR (52,809 for, 0 against).

FOR: 52,809 (100.0%)

Largest asset managers voting on “Resolution on the approval of the compensation report for fiscal year 2023” at SAP SE, 2024-2025
Asset manager	For	Vote
DIVIDEND ASSETS CAPITAL, LLC	51,792	For
Americana Partners, LLC	515	For
VAUGHAN DAVID INVESTMENTS LLC/IL	393	For
COLDSTREAM CAPITAL MANAGEMENT INC	109	For
Echo45 Advisors LLC	0	--

32. Miscellaneous Compensation Plans

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 99.6%

The 4 asset managers below cast 100% of the shares they voted on this item FOR (18,486 for, 0 against).

FOR: 18,486 (99.7%)NOT VOTED: 60 (0.3%)

Largest asset managers voting on “Miscellaneous Compensation Plans” at SAP SE, 2024-2025
Asset manager	For	Vote
EAGLE GLOBAL ADVISORS LLC	10,877	For
Williamson Legacy Group, LLC	7,609	For
Blue Fin Capital, Inc.	0	Not Voted
ESL Trust Services, LLC	0	--

33. 14A Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (50 for, 0 against).

FOR: 50 (100.0%)

Largest asset managers voting on “14A Executive Compensation” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
PEDDOCK CAPITAL ADVISORS, LLC	33	0	0	0	For
Focus Partners Wealth	17	0	0	0	For

34. Adopt Accounts for Past Year

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (7,609 for, 0 against).

FOR: 7,609 (100.0%)

Largest asset managers voting on “Adopt Accounts for Past Year” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Williamson Legacy Group, LLC	7,609	0	0	0	For
ESL Trust Services, LLC	0	0	0	0	--

35. Approval of the Compensation report

COMPENSATION

Meeting held 2025-05-13; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.9%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (2,313,200 for, 0 against).

FOR: 2,313,200 (100.0%)NOT VOTED: 236 (0.0%)

Largest asset managers voting on “Approval of the Compensation report” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO	2,313,200	0	0	0	For
Ballew Advisors, Inc	0	0	0	0	Not Voted

36. Approve Charter Amendment

SHAREHOLDER RIGHTS AND DEFENSES

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (7,609 for, 0 against).

FOR: 7,609 (100.0%)

Largest asset managers voting on “Approve Charter Amendment” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Williamson Legacy Group, LLC	7,609	0	0	0	For
ESL Trust Services, LLC	0	0	0	0	--

37. Approve Previous Board's Actions

CORPORATE GOVERNANCE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (7,609 for, 0 against).

FOR: 7,609 (100.0%)

Largest asset managers voting on “Approve Previous Board's Actions” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Williamson Legacy Group, LLC	7,609	0	0	0	For
ESL Trust Services, LLC	0	0	0	0	--

38. Dividends

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (7,609 for, 0 against).

FOR: 7,609 (100.0%)

Largest asset managers voting on “Dividends” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Williamson Legacy Group, LLC	7,609	0	0	0	For
ESL Trust Services, LLC	0	0	0	0	--

39. Ratify Appointment of Independent Auditors

AUDIT-RELATED

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (7,609 for, 0 against).

FOR: 7,609 (100.0%)

Largest asset managers voting on “Ratify Appointment of Independent Auditors” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Williamson Legacy Group, LLC	7,609	0	0	0	For
ESL Trust Services, LLC	0	0	0	0	--

40. Stock Issuance

CAPITAL STRUCTURE

Meeting held 2025-05-13; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (7,609 for, 0 against).

FOR: 7,609 (100.0%)

Largest asset managers voting on “Stock Issuance” at SAP SE, 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Williamson Legacy Group, LLC	7,609	0	0	0	For
ESL Trust Services, LLC	0	0	0	0	--

Showing the 40 reported items with the widest manager coverage, of 41 in total. View every item.

Largest SAP SE shareholders voting in 2024-2025

Ranked by the number of SAP SE shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 1,228,504,232 shares outstanding at the time of that meeting.

Top SAP SE shareholders by shares voted, 2024-2025
#	Asset manager	% of shares outstanding
1	Six Circles Trust	0.36%
2	WCM INVESTMENT MANAGEMENT, LLC	0.31%
3	National Pension Service	0.25%
4	Investment Managers Series Trust	0.22%
5	EdgePoint Investment Group Inc.	0.22%
6	EAGLE CAPITAL MANAGEMENT LLC	0.19%
7	BlackRock	0.15%
8	Northern Trust	0.14%
9	WINDACRE PARTNERSHIP LLC	0.13%
10	HARDING LOEVNER LP	0.11%

Percentages above are of 1,228,504,232 shares outstanding, as reported by SAP SE on its Form 20-F dated 2024-12-31 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from SAP SE’s 20-F dated 2024-12-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At SAP SE's shareholder meeting held 2025-05-13, in the 2024-2025 proxy season, 518 asset managers reported how they voted in their SEC Form N-PX filings, covering 7,859 separate fund positions. Their filings are grouped here into 41 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — RESOLUTION ON THE APPROVAL OF THE COMPENSATION REPORT FOR FISCAL YEAR 2024 — the reporting funds cast 99.8% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

SAP SE proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.