As at December 31, 2012, SAP AG had issued 1,228,504,232 no-par shares (December 31, 2011: 1,228,083,382) with a calculated nominal value of €1 per share.
The shareholder structure of SAP is characterized by a wide distribution of share ownership. Applying the definition accepted on the Frankfurt Stock Exchange – which excludes treasury stock from the free float – the free float stood at 74.4% at the end of 2012 (2011: 73.3%). U.S. and Canadian investors (institutions and individual) remained the largest group of shareholders.