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Software AG interim report 2 2013

Software AG | Interim Report 2/2013 6 Software AG’s free float currently represents about 67 percent of shares outstanding. An analysis of identifiable institutional investors shows that the percentage of investors in Germany has fallen from more than 30 percent to 25 percent. The largest group of investors is now from the USA and represents almost 30 percent of Software AG shareholders. Others come primarily from the U.K. (17 percent), Switzerland (9 percent) and Scandinavia (6 percent). Investor transactions subject to disclosure also provided insight into the fluctuations within the investor base. While DWS reported falling below the 3-percent threshold in Feb- ruary 2013, Deka exceeded 5 percent of Software AG share capital in the same month making it the investment company with the largest shareholding. Alken Asset Management sold shares and as per the disclosure in May 2013 held less than 3 percent of Software AG stock. In the same month, Fidelity (FMR LLC, Boston, USA) reported having exceeded the thresh- old with 3.5 percent of Software AG stock. For more informa- tion on Software AG’s shareholder structure, please visit: Annual Shareholders’ Meeting 2013 The Annual Shareholders’ Meeting took place on May 3, 2013 in Darmstadt, Germany. A dividend payout of €0.46 per div- idend-bearing share was approved at the meeting. The pay- out ratio was 23 percent of the Group’s net income in 2012. Software AG’s treasury shares were not entitled to a dividend. Coverage remains high Software AG’s share is currently analyzed and rated by 22 brokers. Eleven of them have given a “buy” recommenda- tion. Five consider the share to be overvalued; and six have issued a “hold” recommendation. After the release of the Company’s Q2 results, the average share price reached €29 on July 31, 2013. Shareholder structure Software AG Foundation continues to hold almost 29 percent of Software AG’s share capital. Due to the purchase of nearly 4 million treasury shares during the first half of the year, 6