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Details of the person subject to the disclosure requirement
Company: HP Vermögensverwaltungs GmbH & Co. KG

Person performing managerial responsibilities, triggering the disclosure requirement for the legal person
Details of the person performing managerial responsibilities
Position: Member of an administrative or supervisory body

Information about the transaction with duty of notification

Description of the financial instrument: Share

ISIN/WKN of the financial instrument: DE0007164600
Type of transaction: Sale

Date: 21.04.2016

Price: not numberable

Currency: EUR

No. of items: 

Total amount traded: (max) 120000000

Place:  - 

Explanation for publication:

The notifying company entered into an agreement with a bank acting as
commission agent assigned to sell every month SAP SE shares with a current
market value of Euro 10,000,000. Sales will be executed at the sole
discretion of the bank in the period starting April, 21, 2016 and ending
April 20, 2017 via stock exchange during the selling period defined for
each calendar month. This selling period generally comprises the first ten
trading days of the calendar month as well as the remaining trading days of
April 2016. The target price is the volume-weighted XETRA-average price of
the SAP SE share on the relevant day of sale. The bank will not offer the
SAP SE shares for sale unless a minimum price of Euro 55.00 per share is
achieved.  If sales are not carried out due to the failure to reach the
minimum price the sale will be executed on another trading day in the
respective calendar month. For each trading day on which the minimum price
could not be reached within the respective monthly selling period the
selling period will be extended by one additional trading day. However this
will not go beyond the end of the respective calendar month or beyond April
20, 2017. The bank will not carry out any sale during statutory closed
periods applicable to the notifying company.  If due to a statutory closed
period the selling period of a calendar month falls below five trading days
it will be extended by five consecutive trading days following the end of
the statutory closed period, even if they will be in the next calendar
month. The number of shares sold is calculated as the ratio between the
total amount traded and the actual price achieved for the sold shares.

Information about the company with duty of publication

Issuer: SAP SE

Dietmar-Hopp-Allee 16

69190 Walldorf


ISIN: DE0007164600

WKN: 716460

End of Directors" Dealings Notification 

(c) DGAP 27.04.2016
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