# EDGAR Filing Document

**Accession Number:** 0001000184
**File Stem:** 0001104659-25-112484
**Filing Date:** 2025-11
**Character Count:** 65201
**Document Hash:** d069f04cf4e71a8012ee6afeef515ee8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-112484.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001104659-25-112484

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 17

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SAP SE
- **CENTRAL INDEX KEY:** 0001000184
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 2M
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-291539
- **FILM NUMBER:** 251486010

**BUSINESS ADDRESS:**
- **STREET 1:** DIETMAR-HOPP-ALLEE 16
- **CITY:** WALLDORF
- **STATE:** 2M
- **ZIP:** 69190
- **BUSINESS PHONE:** 0114962277

**MAIL ADDRESS:**
- **STREET 1:** DIETMAR-HOPP-ALLEE 16
- **CITY:** WALLDORF
- **STATE:** 2M
- **ZIP:** 69190

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SAP AG
- **DATE OF NAME CHANGE:** 20091023

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SAP AKTIENGESELLSCHAFT SYSTEMS APPLICATIONS PRODUCTS IN DATA
- **DATE OF NAME CHANGE:** 19960807

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8 <br> REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

**SAP SE**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Federal Republic of Germany** | **Not Applicable** |
| **(State or other jurisdiction of <br> incorporation or organization)** | **(I.R.S. Employer <br> Identification No.)** |

---

**Dietmar-Hopp-Allee 16**

**69190 Walldorf <br> Federal Republic of Germany**

**(Address of principal executive offices; Zip Code)**

**Own SAP Plan**

**(Full title of plan)**

**Wendy Boufford c/o <br> SAP Labs LLC**

**3410 Hillview Avenue<br> Palo Alto, CA 94304 <br> (Tel) 1-650-849-4000**

**(Name, address and telephone number, including area code, of agent for service)**

**Copy to:**

**A. Peter Harwich**

**Latham & Watkins LLP**

**885 Third Avenue**

**New York, NY 10020**

**(212) 906-1200**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ⌧ Accelerated filer ◻ <br>Non-accelerated filer ◻ (Do not check if a smaller reporting company) Smaller reporting company ◻

**Explanatory Note**

The Registrant previously registered an aggregate 7,000,000 of its Ordinary Shares, without nominal value, for issuance under the Own SAP Plan (the "Plan") by a registration statement on Form S-8 (File No. 333-252295) filed with the Securities and Exchange Commission (the "SEC") on January 21, 2021 and 5,679,902 of its Ordinary Shares, without nominal value, for issuance under the Plan by a registration statement on Form S-8 (File No. 333-213436) filed with the SEC on September 1, 2016 (together the "Prior Registration Statements"). This Registration Statement is being filed pursuant to General Instruction E to Form S-8 to register an additional 1,800,000 Ordinary Shares which may be issued under the Plan.

The contents of the Prior Registration Statements are hereby incorporated by reference in and made a part of this Registration Statement in accordance with General Instruction E to Form S-8, except to the extent supplemented, superseded or modified by the specific information set forth below and/or the specific exhibits attached hereto or by any subsequently filed document that is incorporated by reference in this Registration Statement or the Prior Registration Statements.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The documents containing the information specified in this Part I will be sent to or given by the Registrant to each recipient of an award under the Plan as specified by Rule 428(b)(1) under the Securities Act. In accordance with the instructions to Part I of Form S-8, such documents will not be filed with the SEC either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated by reference pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The following documents previously filed with the SEC by the Registrant are incorporated by reference herein and shall be deemed to be part hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's [Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the Commission on February 27, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1000184/000110465925017815/sap-20241224x20f.htm) ; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The description of the Registrant's Ordinary Shares contained in the Registrant's Registration
Statement on [Form 8- A, filed with the Commission on May 3, 2001](https://www.sec.gov/Archives/edgar/data/1000184/000095012301501770/y48496e8-a12b.txt) , including any amendment or report filed for the purpose of
updating such description.

All documents filed with or furnished to the SEC by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, including any Annual Report on Form 20-F, subsequent to the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered herein have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date such reports are filed.

Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof or of the related prospectus to the extent that a statement contained herein or in any other subsequently filed document which is also incorporated or deemed to be incorporated herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities.**

Not applicable.

**Item 5. Interests of Named Experts and Counsel.**

The validity of the Ordinary Shares to be transferred under the Plan has been passed upon for the Registrant by Gabriel Harnier, General Counsel of SAP SE. Mr. Harnier is a full-time employee of the Registrant. Mr. Harnier currently beneficially owns less than 0.001% of the Registrant's outstanding Ordinary Shares.

**Item 6. Indemnification of Directors and Officers.**

A Societas Europaea with registered seat in Germany may only indemnify members of its Executive Board or its Supervisory Board in limited circumstances. A Societas Europaea with registered seat in Germany may purchase directors' and officers' insurance. The Registrant maintains liability insurance for members of its Executive Board and members of its Supervisory Board in connection with their activities on the Registrant's behalf, including against liabilities under the Securities Act and the Exchange Act. With the exception of this liability insurance, there are no statutes, charters, provisions, by-laws, contracts or other arrangements under which any director or officer of the Registrant is insured or indemnified in any manner against liability which he or she may incur in his capacity as such.

**Item 7. Exemption from Registration Claimed.**

Not Applicable.

**Item 8. Exhibits**

---

| | |
|:---|:---|
| **Exhibit** | **Description** |
| [**4.1**](tm2530916d1_ex4-1.htm) | [Articles of Incorporation (*Satzung*) of SAP SE, effective as of July 15, 2025 (English Translation).](tm2530916d1_ex4-1.htm) |
| [**4.2**](https://www.sec.gov/Archives/edgar/data/1000184/000119312516699628/d281058dex42.htm) | [Own SAP Plan. <sup>(1)</sup>](https://www.sec.gov/Archives/edgar/data/1000184/000119312516699628/d281058dex42.htm) |
| [**5.1**](tm2530916d1_ex5-1.htm) | [Opinion of Gabriel Harnier of the Registrant's Corporate Legal Department as to the legality of the Ordinary Shares covered by this Registration Statement.](tm2530916d1_ex5-1.htm) |
| [**23.1**](tm2530916d1_ex5-1.htm) | [Consent of Gabriel Harnier (included in Exhibit 5.1).](tm2530916d1_ex5-1.htm) |
| [**23.2**](tm2530916d1_ex23-2.htm) | [Consent of BDO AG Wirtschaftsprüfungsgesellschaft, Independent Registered Public Accounting Firm.](tm2530916d1_ex23-2.htm) |
| [**23.3**](tm2530916d1_ex23-3.htm) | [Consent of KPMG AG Wirtschaftsprüfungsgesellschaft, Independent Registered Public Accounting Firm.](tm2530916d1_ex23-3.htm) |
| [**107**](tm2530916d1_ex-filingfees.htm) | [Filing Fee Table.](tm2530916d1_ex-filingfees.htm) |

---

(1) Incorporated by reference to Exhibit 4.2 to SAP SE's Form S-8 Registration Statement filed with the SEC on September 1, 2016

**Item 9. Undertakings**

(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth
in the Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration Statement;

<u>provided, however,</u> that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information to be included in a post- effective amendment by those paragraphs is contained in periodic reports filed with the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant's Annual Report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where
applicable, each filing of an employee benefit plan's Annual Report pursuant to Section 15(d) of the Exchange Act) that
is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, on November 11, 2025.

---

| | |
|:---|:---|
| SAP SE | SAP SE |
| (Registrant) | (Registrant) |
| By: | /s/ Christian Klein |
|  | Christian Klein |
|  | Chief Executive Officer |
| By: | /s/ Dominik Asam |
|  | Dominik Asam |
|  | Chief Financial Officer |

---

**POWERS OF ATTORNEY**

KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Christian Klein and Dominik Asam, and each of them (with full power in each of them to act alone), his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all subsequent registration statements pursuant to Instruction E of Form S-8 under the Securities Act, and any and all amendments (including post-effective amendments) to this Registration Statement or any such subsequent registration statement, and to file such subsequent registration statements and such amendments with all exhibits thereto and other documents in connection therewith with the Commission granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signatures** | **Title** | **Date** |
| /s/ Christian Klein | Chief Executive Officer and Member of the Executive Board | November 11, 2025 |
| Christian Klein | (principal executive officer) |  |
| /s/ Dominik Asam | Chief Financial Officer and Member of the Executive Board | November 11, 2025 |
| Dominik Asam | (principal financial and accounting officer) |  |
| /s/ Muhammad Alam | Member of the Executive Board | November 11, 2025 |
| Muhammad Alam |  |  |
| /s/ Thomas Saueressig | Member of the Executive Board | November 11, 2025 |
| Thomas Saueressig |  |  |
| /s/ Sebastian Steinhaueser | Member of the Executive Board | November 11, 2025 |
| Sebastian Steinhaeuser |  |  |
| /s/ Gina Vargiu-Breuer | Member of the Executive Board | November 11, 2025 |
| Gina Vargiu-Breuer |  |  |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act of 1933, the undersigned, the duly authorized representative in the United States of SAP SE, has signed this registration statement or amendment thereto in Palo Alto, California on November 11, 2025.

---

| | |
|:---|:---|
| **Authorized U.S. Representative**<br> Wendy Boufford | **Authorized U.S. Representative**<br> Wendy Boufford |
| By: | /s/ Wendy Boufford |
| Name: | Wendy Boufford |
| Title: | Assistant General Counsel |

---

## Exhibit 4.1

**Exhibit 4.1**

![](tm2530916d1_ex4-1img001.jpg)

**ARTICLES OF INCORPORATION**

**SAP SE**

**Registered office: Walldorf, Germany**

![](tm2530916d1_ex4-1img001.jpg)

**I.** **General Provisions**

**Section 1**

**Corporate Name, Registered Office and Domicile, and Period of Incorporation**

1. The name of the Company is: SAP SE.

2. The Company's registered office and domicile is in Walldorf, Germany.

3. The Company is incorporated for an indefinite period of time.

**Section 2**

**Corporate Purpose**

1. The corporate purpose of the Company is direct or indirect activity in the area of development, production,
and marketing of products and the provision of services in the fields of information technology and telecommunication, and particularly
in the following fields:

- developing and marketing integrated product and service solutions for e-commerce;

- developing software and cloud solutions and the licensing of their use to others;

- organization and deployment consulting, as well as user training, for software and cloud solutions;

- selling, leasing, renting, and arranging the procurement and provision of all other forms of use of information technology systems and relevant accessories;

- making capital investments in enterprises active within the scope of the corporate purpose to promote the opening and advancement of international markets in these fields.

2. The Company is authorized to act in all the business areas listed in paragraph 1 and to delegate such
activities to affiliated enterprises within the meaning of Sections 15 ff. of the German Stock Corporation Act (*Aktiengesetz*; **"AktG"**);

in particular the Company is authorized to delegate its business in whole or in parts to such enterprises. The Company is authorized to establish branch offices in Germany and other countries, to found, acquire, and invest in other companies of the same or a related kind and to enter into collaboration and joint venture agreements. The Company is further authorized to invest in enterprises of all kinds principally for the purpose of placing financial resources. The Company is authorized to dispose of investments, to consolidate the management of enterprises in which it participates, to enter into affiliation agreements with such enterprises, or to do no more than manage its shareholding.

3. The Company is authorized to take all actions and measures that are consistent with the corporate purpose
or that directly or indirectly further the corporate purpose.

**Section 3**

**Official Notices and the Transfer of Information**

1. Unless otherwise provided by law, the Company's official notices shall be made by publication in
the German Federal Gazette (*Bundesanzeiger*) exclusively.

&nbsp;&nbsp;&nbsp;&nbsp;a. To the extent that declarations or information are required by law to be made accessible to the shareholders
without a specific form being determined for such purpose, publication on the Company's Internet site shall be sufficient.

2. Information may also be transmitted to the Company's shareholders by means of telecommunication,
insofar as this is legally permissible.

**II.** **Capital Stock and Shares**

**Section 4**

**Capital Stock**

1. The Company has capital stock of €1,228,504,232 and is divided into 1,228,504,232 no-par value ordinary
shares. The capital stock was paid up by way of conversion of SAP AG to a European Company (SE).

2. The shares are no-par value shares. They are in bearer form.

3. Subject to the consent of the Supervisory Board, the Executive Board shall determine the form of the share certificates, dividend
coupons, and renewal coupons, as well as bonds and interest coupons. The Company may combine single shares into share certificates representing
a majority of shares (multiple- share certificates). Shareholders are not entitled to share certificates.

4. When new shares are issued, the commencement of dividend entitlement in respect of these new shares may
be determined in derogation of Section 60 (2) AktG.

5. The Executive Board is authorized, subject to the consent of the Supervisory Board, to increase the capital stock, on one or more
occasions on or before May 12, 2030, by an aggregate amount of up to €250 million against contributions in cash by issuing new
no-par value bearer shares (Authorized Capital I). The new shares are to be offered to the shareholders for subscription, with an indirect
subscription right within the meaning of Section 186 (5) sentence 1 AktG being sufficient in this context. The Executive Board
is authorized, however, subject to the consent of the Supervisory Board, to exclude fractional shares from the shareholders' subscription
rights.

![](tm2530916d1_ex4-1img001.jpg)

The Executive Board may only exercise the authorization to exclude subscription rights to such an extent that the proportionate amount of the newly issued shares does not exceed a total of 10% of the share capital. The decisive factor for the calculation of the 10% limit is the share capital that exists at the time the resolution on this authorization is passed. If the share capital is lower at the time the authorization is exercised, this value is decisive. As to the 10% limit, it shall be taken into account if, during the term of this authorization until it is exercised, other authorizations to issue shares in the Company, or to issue rights that entitle or oblige to subscribe to shares in the Company, are exercised and the subscription right is excluded.

The Executive Board is further authorized, subject to the consent of the Supervisory Board, to determine the further details of the implementation of capital increases from Authorized Capital I. The Supervisory Board is authorized to amend the wording of the Articles of Incorporation after the full or partial implementation of the capital stock increase from Authorized Capital I or after the expiration of the authorization period to reflect the volume of the capital increase from Authorized Capital I.

6. The Executive Board is authorized, subject to the consent of the Supervisory Board, to increase the capital stock, on one or more
occasions on or before May 12, 2030, by an aggregate amount of up to €250 million against contributions in cash or in kind by
issuing new no-par value bearer shares (Authorized Capital II). An indirect subscription right within the meaning of Section 186
(5) sentence 1 AktG may also ensure compliance with the statutory shareholders' subscription right. The Executive Board is
authorized, subject to the consent of the Supervisory Board, to exclude the shareholders' statutory subscription rights in the following
circumstances:

- In respect of fractional shares;

Insofar as required to grant subscription rights to new shares to holders and/or beneficiaries of conversion and/or option rights or obligors under conversion and/or option obligations under bonds issued by the Company or a Group company in the same volume as they would be entitled to if they exercised their conversion and/or option rights or fulfilled their conversion and/or option obligations;

In the case of capital increases against contributions in cash, if, in accordance with Section 186 (3) sentence 4 AktG, the issue price of the new shares does not fall significantly short of the stock exchange price of the same class and type of shares already traded on the stock exchange at the time of the final determination of the issue price and the proportionate amount of the newly issued shares does not exceed a total of 10% of the share capital. The decisive factor for the calculation of the 10% limit is the share capital that exists at the time the resolution on this authorization is passed. If the share capital is lower at the time the authorization is exercised, this value is decisive. As to the 10% limit, it shall be taken into account if, during the term of this authorization until it is exercised, other authorizations to issue or to sell shares in the Company, or to issue rights that entitle or oblige to subscribe to shares in the Company, are exercised and the subscription right is excluded pursuant to or in accordance with Section 186 (3) sentence 4 AktG;

- In the case of capital increases against contributions in kind for granting shares in connection with mergers with other enterprises or acquisitions of enterprises or parts thereof or interests therein or of other contributable assets;

- To implement a scrip dividend by which shareholders are given the option of contributing their dividend entitlements to the Company (either in whole or in part) as a contribution in kind against the issue of new shares from Authorized Capital II.

The Executive Board may only exercise the above-described authorizations to exclude subscription rights to such an extent that the proportionate amount of the newly issued shares does not exceed a total of 10% of the share capital. The decisive factor for the calculation of the 10% limit is the share capital that exists at the time the resolution on this authorization is passed. If the share capital is lower at the time the authorization is exercised, this value is decisive. As to the 10% limit, it shall be taken into account if, during the term of this authorization until it is exercised, other authorizations to issue shares in the Company, or to issue rights that entitle or oblige to subscribe to shares in the Company, are exercised and the subscription right is excluded.

The Executive Board is further authorized, subject to the consent of the Supervisory Board, to determine the further details of the implementation of capital increases from Authorized Capital II. The Supervisory Board is authorized to amend the wording of the Articles of Incorporation after the full or partial implementation of the capital stock increase from Authorized Capital II or after the expiration of the authorization period to reflect the volume of the capital increase from Authorized Capital II.

7. The capital stock shall be subject to a further contingent increase by up to €100 million by issuing up to 100 million no-par
value bearer shares (Contingent Capital I). The contingent capital increase shall be implemented only to the extent that the holders or
creditors of convertible bonds or warrants under warrant-linked bonds issued or guaranteed by SAP SE or any of its direct or indirect
majority holdings on or before May 11, 2026 by virtue of the authorization resolved by the annual General Meeting of Shareholders
of May 12, 2021 exercise their conversion or option rights or fulfill their conversion or option obligations and no other methods
for servicing these rights are used. The new shares shall in each case be issued at the conversion or option price to be determined in
accordance with the above authorization resolution. The new shares shall participate in the profits as from the beginning of the fiscal
year in which they are created as a result of the exercise of conversion or option rights or upon the fulfillment of the conversion or
option obligation. The Executive Board shall be authorized to determine further details of the implementation of the contingent capital
increase.

![](tm2530916d1_ex4-1img001.jpg)

**III. Constitution and Management of the Company**

**Section 5 Governing Bodies**

The Company's governing bodies are:

a) the Executive Board (the management organ),

b) the Supervisory Board (the supervisory organ),

c) the General Meeting of Shareholders.

**The Executive Board**

**Section 6**

**Composition of the Executive Board**

1. The Executive Board shall consist of at least two persons. The Supervisory Board may determine a higher
number of Executive Board members. The appointment of deputy members of the Executive Board is permissible. The latter have the same rights
as the full members of the Executive Board regarding the external representation of the Company.

2. The appointment of the full members and the deputy members of the Executive Board, the conclusion of their employment contracts, and
the revocation of their appointments are the responsibility of the Supervisory Board, as are the appointment of a member of the Executive
Board as chairperson of the Executive Board and the appointment of one or more member/s of the Executive Board as deputy chairperson/s
of the Executive Board.

3. The full members and the deputy members of the Executive Board will be ap- pointed for a maximum period
of five years. Reappointments are permissible.

**Section 7**

**Rules of Procedure and Resolutions of the Executive Board**

1. The Executive Board shall unanimously adopt its own rules of procedure, unless the Supervisory Board
adopts rules of procedure for the Executive Board.

2. Resolutions of the Executive Board shall be adopted by a simple majority of votes cast, unless otherwise
mandatorily prescribed by law or the Articles of Incorporation. Should a vote be tied, the chairperson of the Executive Board, if appointed,
shall have the casting vote.

3. Unless otherwise mandatorily prescribed by law or the Articles of Incorporation, the Executive Board is
quorate if at least half of its members participate in pass- ing the resolution.

**Section 8**

**Legal Representation of the Company**

The Company shall be legally represented

a) by two members of the Executive Board;

b) by one member of the Executive Board acting jointly with one holder of full commercial power of attorney
(*Prokurist*) within the meaning of Sections 48-53 of the German Commercial Code (*Handelsgesetzbuch*; **"HGB"**).

**Section 9**

**Limitation of the Executive Board's Authority**

The Executive Board owes a duty to the Company to adhere to the limitations imposed by the Articles of Incorporation or the Supervisory Board regarding the scope of its management authority or which result from a resolution adopted by the General Meeting of Shareholders pursuant to Section 119 AktG.

**The Supervisory Board**

**Section 10**

**Composition, Term of Office**

1. The Supervisory Board shall be composed of eighteen members. Nine members will be elected as shareholders' representatives by
the General Meeting of Share- holders without being bound by nominations. Nine members will be appointed as employees' representatives
by the SE Works Council in accordance with the agreement on the involvement of employees (Agreement on Employee Involve- ment) concluded
in accordance with the German Act on the Involvement of Employees in European Companies (*Gesetz über die Beteiligung der Arbeitnehmer in einer Europäischen Gesellschaft (SE-Beteiligungsgesetz; **"SEBG"** *)*). When the Supervisory Board members are elected or appointed (as the case may be), substitute members may be elected or appointed (as the case may be) at the same time. Reappointments are permissible.* 

![](tm2530916d1_ex4-1img001.jpg)

2. Unless a shorter term of office is determined, the members of the
Supervisory Board shall be elected or appointed for a period ending with the closing of the annual General Meeting of Shareholders at
which the acts of the Supervisory Board are formally approved for the fourth fiscal year following commencement of the term of office,
not counting the year in which their term of office commences. In any event, the term of office shall end after six years at the latest.

3. In derogation of paragraphs 1 and 2, the following provisions shall apply for the first Supervisory Board with regard to the employees'
representatives, as provided in the Agreement on Employee Involvement: The first employees' representatives on the first Supervisory
Board have been appointed under the Agreement on Employee Involvement. Their term of office shall end at the close of the 2015 annual
General Meeting of Shareholders. The term of office of the succeeding employees' representatives on the first Supervisory Board
of SAP SE appointed subsequent to this term of office shall end at the same time as the term of office of the shareholders' representatives
on the first Supervisory Board. Paragraph 2 shall thereupon also apply to the term of office of the employees' representatives on
the Supervisory Board.

4. The members and substitute members of the Supervisory Board may resign from office by submitting a written statement addressed to
the chairperson of the Supervisory Board or to the Executive Board observing a period of notice of four weeks. Resignation from office
for cause (*aus wichtigem Grund*) with immediate effect is permitted.

5. Unless a shorter term of office is determined within the limits of paragraph (2), successors for resigning shareholders' representatives
who are not replaced by substitute members will be elected for the remaining term of office of the resigning individual. This shall apply *mutatis mutandis* to the appointment of any successors for resigning employees' representatives who are not replaced by substitute
members in accordance with the Agreement on Employee Involvement.

**Section 11**

**Duties and Responsibilities of the Supervisory Board**

1. The Supervisory Board shall have all of the duties and rights that are conferred upon it by law, the Articles
of Incorporation, or otherwise. Both the Executive and Supervisory Boards shall be entitled to call a General Meeting of Shareholders.

2. The Supervisory Board shall be authorized to amend the Articles of Incorporation where such amendments
only concern the wording.

3. The Supervisory Board shall be entitled at any time to supervise all management activities of the Executive
Board and to this end to inspect and examine all books and records as well as the assets of the Company.

4. The Executive Board shall report to the Supervisory Board continuously at least to the extent stipulated
by law.

5. The Supervisory Board may set up committees from among its members and, to the extent permitted by law,
may delegate decision-making powers to them.

6. The following transactions are subject to the prior approval of the Supervisory Board:

- adoption of the group annual plan, which shall comprise at least the budget, the investment plan, and the liquidity planning;

investments in tangible fixed assets or intangible fixed assets which are either not included in the investment plan for the fiscal year and which, alone or when aggregated with other investments likewise not included, have an anticipated total volume of more than 10% of the last investment plan or which are included in the investment plan but whose volume determined in the investment plan is exceeded to such an extent that the excess amount, together with corresponding amounts of other investments exceeding the plan of the same fiscal year, if any, amounts to more than 10% of the total volume of the last investment plan;

acquisition and sale of enterprises and interests therein or parts thereof if the (anticipated) acquisition or sales price in an individual case exceeds 0.6% of the balance sheet total of the last group balance sheet approved by the Supervisory Board; this shall not apply to any acquisition or sale within the group;

incurring financial liabilities vis-à-vis companies which are not members of the group if either the volume of the individual financial liability exceeds 1.0% of the balance sheet total of the last group balance sheet approved by the Supervisory Board or if, as a result of incurring such liability, the group total of all financial liabilities incurred without the approval of the Supervisory Board and not yet repaid exceeds 3.0% of the balance sheet total of the

last group balance sheet approved by the Supervisory Board;

- concluding and amending any agreements which under applicable law or the Articles of Incorporation require the approval of the General Meeting of Shareholders.

If permitted by law, the Supervisory Board may delegate the approval competence for the above-mentioned transactions to a committee generally or in individual cases. The Supervisory Board may determine additional types of trans-actions which the Executive Board may only perform with the Supervisory Board's approval.

**Section 12**

**Declarations of Intent of the Supervisory Board**

1. Declarations of intent of the Supervisory Board and its committees shall be given on behalf of the Supervisory
Board by the chairperson or – should he or she be unable to do so – by the deputy chairperson.

2. The chairperson of the Supervisory Board or his or her deputy shall be the permanent representative of
the Supervisory Board vis-à-vis third parties, especially vis-à-vis courts and authorities as well as the Executive Board.

![](tm2530916d1_ex4-1img001.jpg)

**Section 13**

**Chairperson and Deputy Chairperson**

1. Following a General Meeting of Shareholders at which all members of the Supervisory Board to be elected by the General Meeting of
Shareholders have been newly appointed, a meeting of the Supervisory Board shall take place, which shall be held without special invitation.
At this meeting the Supervisory Board shall elect a chairperson and one or two deputy chairperson(s) from among its members for the
term of its office. When electing the chairperson of the Supervisory Board, the oldest member in terms of age of the shareholders'
representatives on the Supervisory Board will chair the meeting; Section 14 (6) sentence 3 shall apply *mutatis mutandis*.

2. Only a shareholders' representative may be elected as chairperson of the Supervisory Board.

3. If the chairperson is unable to discharge the duties of his or her office, the deputy chairperson shall
do so in his or her place. This provision shall not affect Section 14 (6) sentence 4 and Section 20 (1).

4. If the chairperson or a deputy chairperson leaves the Supervisory Board before the end of his or her term
of office, an election shall be held without delay to replace him or her.

**Section 14**

**Calling of Meetings and Passing of Resolutions**

1. The Supervisory Board shall adopt its own rules of procedure by a simple majority vote. The following
provisions apply to the calling of meetings, quorums, and resolutions. Supplementary provisions may be stipulated in the rules of
procedure.

2. The chairperson shall call the Supervisory Board meetings in writing or text form, by letter, e-mail or facsimile message allowing
a notice period of 14 days before the day of the meeting. The day on which the message calling the meeting is sent and the day of the
meeting do not count toward the notice period. In urgent cases, the chairperson may shorten the notice period and also call the meeting
orally or by telephone, or any other appropriate means of electronic transmission.

3. The meetings of the Supervisory Board and its committees shall as a rule be held with the members attending in person. The Supervisory
Board may provide in its rules of procedure that the meetings of the Supervisory Board and its committees may also be held by video
conference or that individual members of the Supervisory Board may attend the meeting by way of video transmission, subject to the proviso
that in such cases, resolutions may also be adopted by video conference or by way of video transmission, respectively.

4. The Supervisory Board may provide in its rules of procedure for the permissibility of the adoption
of resolutions of the Supervisory Board and its committees out- side of meetings by obtaining written or telephone votes or by voting
by video conference or any other means of electronic communication (e.g. by e-mail or facsimile).

5. The members of the Executive Board may attend the meetings of the Supervisory Board, unless otherwise
resolved in an individual case by the Supervisory Board or its chairperson.

6. Unless otherwise mandatorily prescribed by law or the Articles of Incorporation, the Supervisory Board is quorate if at least half
of its members participate in passing the resolution. The resolutions of the Supervisory Board shall be adopted by a majority of the votes
cast, unless otherwise mandatorily prescribed by law or the Articles of Incorporation. In the event of a tie, the vote of the chairperson
and, in the event that the chairperson does not participate in passing the resolution, the vote of the deputy chairperson, provided that
he or she is a shareholders' representative, shall be decisive (casting vote).

**Section 15**

**Duty of Secrecy**

1. The members of the Supervisory Board shall maintain secrecy in respect of any confidential information and secrets of the Company,
notably business and trade secrets, that become known to them because of their membership of the Supervisory Board. Persons attending
meetings of the Supervisory Board who are not members of the Supervisory Board shall be expressly enjoined to secrecy.

2. In the event that a member of the Supervisory Board intends to pass information on to a third party, he or she shall notify the Supervisory
Board and the Executive Board of that intention in advance, naming the persons he or she wishes to inform. The Supervisory Board and the
Executive Board must be given the opportunity to decide prior to the disclosure of information whether they consider such disclosure to
violate paragraph 1 or not. The decision shall be delivered by the chairperson of the Supervisory Board and the chairperson or CEO of
the Executive Board.

3. The members of the Supervisory Board shall continue to maintain secrecy as set forth in the foregoing
paragraphs after they leave the Supervisory Board.

![](tm2530916d1_ex4-1img001.jpg)

**Section 16**

**Remuneration**

1. Each member of the Supervisory Board shall receive an annual basic remuneration of €165,000. The chairperson of the Supervisory
Board shall receive an annual basic remuneration of €275,000 and each deputy chairperson shall receive €220,000. The chairperson
of the Supervisory Board shall receive an annual basic compensation of €600,000, and each deputy chairperson shall receive €220,000.

2. For membership of the audit committee, Supervisory Board members
shall, in addition to their basic remuneration, receive an annual remuneration of €50,000, and for membership of another Supervisory
Board committee €35,000, the chair- person of the audit committee shall receive an annual remuneration of €95,000, and the chairpersons
of the other committees €50,000. If a deputy chairperson is appointed for a committee, his
or her additional remuneration shall amount to €43,500 per year, and €72,500 per year for the audit committee. Any
additional compensation for the chairmanship, any deputy chairmanship and membership of a committee pursuant to this paragraph 2
shall only accrue if the respective committee has met during the fiscal year. The chairperson of the Supervisory Board shall not
receive any additional compensation for chairing, or being a member of, any committees.

3. If the Supervisory Board appoints a Lead Independent Director, the Lead Independent Director shall receive a compensation of €50,000
per year in addition to his or her basic compensation and in addition to his or her compensation for any memberships in committees.

4. Any members of the Supervisory Board having served for less than the entire fiscal year shall receive one twelfth of their respective
compensation for each month of service commenced. The same shall apply with respect to the increased compensation for the chairperson
and the deputy chairperson(s) pursuant to paragraph 1 sentence 2, to the compensation for the chairperson, any possible deputy chair-
person, and the members of a committee pursuant to paragraph 2, and to the additional compensation for the Lead Independent Director pursuant
to paragraph 3.

5. The remuneration shall be payable after the end of the fiscal year.

6. The remuneration shall be subject to the addition of any possible statutory value added tax.

7. The members of the Supervisory Board shall be included in a directors' and officers' (D&O) group liability insurance which provides
for adequate cover and is maintained by the Company in its own interests, to the extent that such insurance is in place. The premiums
for the insurance policy shall be paid by the Company.

**The General Meeting of Shareholders**

**Section 17**

**Calling the General Meeting of Shareholders**

1. The General Meeting of Shareholders shall be held at the registered office of the Company, at a location within a radius of 50 km
from the registered office of the Company, or in a city in the Federal Republic of Germany where a German stock exchange is located. In
the event that it is difficult to hold the General Meeting of Shareholders at these venues, the Executive Board or the Supervisory Board
may call the meeting at a different venue. The invitation shall state the venue of the General Meeting of Shareholders.

2. The Executive Board or the Supervisory Board shall call the General Meeting of Shareholders.

3. The General Meeting of Shareholders shall be called by publication of a single announcement in the German Federal Gazette
 (*Bundesanzeiger*), giving the information required by law, with a notice period of at least thirty days prior to the date of
 the General Meeting of Shareholders, which notice period is to be extended by the number of days of the application period pursuant
 to Section 18 (2); the day on which the General Meeting
of Shareholders is held and the day on which it is called shall not be included in the calculation of the relevant period.

**Section 18**

**Right to Attend the General Meeting of Shareholders**

1. Shareholders are entitled to attend the General Meeting of Shareholders and to exercise their voting rights only if they have submitted
an application prior to the General Meeting of Shareholders and furnished proof to the Company of their shareholding.

2. Application shall be made in text form in German or English and must be received by the Company at the address stated for such purpose
in the calling notice no later than six days prior to the date of the General Meeting of Shareholders; the day on which the General Meeting
of Shareholders is held and the day on which it is called shall not be included in the calculation of the relevant period. The calling
notice may provide for a shorter period of time, which is to be specified as a number of days.

3. For proof of shareholding, proof in accordance with Section 67c (3) AktG shall be sufficient. The proof shall relate to
the close of business of the 22nd day prior to the General Meeting of Shareholders. Paragraph 2 shall apply *mutatis mutandis* to
the proof.

4. The applicability of any other application or proof procedure available under mandatory law shall remain
unaffected.

5. The Executive Board is authorized to provide that shareholders may participate in the General Meeting of Shareholders without being
physically present at the venue of the General Meeting of Shareholders or being represented by a proxy and exercise all or certain of
their rights in full or in part through electronic communication.

6. The Executive Board is authorized to provide that shareholders may vote in writing or through electronic
communication (postal voting) without having to attend the General Meeting of Shareholders.

![](tm2530916d1_ex4-1img001.jpg)

**Section 19**

**Voting Rights**

1. Each share carries one vote.

2. Voting rights may be exercised by proxy. The proxy authorization must be granted or revoked, and proof of the proxy authorization
must be provided to the Company, in the form prescribed by law. The calling notice may specify less strict requirements in this context.
Such less strict requirements may be limited to the granting of proxy authorization to the proxies designated by the Company.

3. If no share certificates have been issued, the invitation to the General Meeting of Shareholders shall
stipulate the provisions that have to be fulfilled by the shareholders in order to prove their voting rights.

**Section 20**

**Chair of the General Meeting of Shareholders**

**Participation of Executive Board Members and Supervisory Board Members, Video Transmission**

1. The chairperson of the Supervisory Board shall preside over the General Meeting of Shareholders. If
 he or she is unable to do so, he or she shall deter- mine another member of the Supervisory Board to discharge this duty. If the chairperson is prevented from presiding over the meeting
and has not determined another member to take his or her place, a member of the Supervisory Board elected by the shareholders' representatives
on the Supervisory Board shall preside over the General Meeting of Shareholders.

2. The chairperson shall chair the proceedings and shall determine both the order of the agenda and the order and form of voting. The
chairperson may also impose a reasonable time limit on the shareholders' right to ask questions and to speak; the chairperson may
in particular reasonably determine a timeframe for the meeting, the discussions regarding the individual items on the agenda as well as
for the individual questions and speaking contributions. The result of a vote may be determined by subtracting the affirmative votes or
the negative votes and the abstentions from the total number of votes to which the voters are entitled.

3. The members of the Executive Board and Supervisory Board should take part in the General Meeting of Shareholders in person. If any
member of the Super- visory Board is unable to attend the General Meeting of Shareholders in person because he or she has good reason
to be abroad, it is possible for him or her to take part via video transmission.

4. The Executive Board is authorized to permit full or partial video or audio trans- mission of the General
Meeting of Shareholders.

**Section 20a**

**Virtual General Meeting of Shareholders**

1. The Executive Board is authorized to determine that any or all General Meetings of Shareholders to be
held on or before June 30, 2027, may be held as virtual General Meetings of Shareholders without the physical presence of the shareholders
or their proxies at the place of the General Meeting.

2. The members of the Supervisory Board may also participate in a virtual General Meeting of Shareholders by means of video and audio
transmission. This shall not apply to the chairperson of the General Meeting of Shareholders if he or she is a member of the Supervisory
Board.

**Section 21**

**Resolutions of the General Meeting of Shareholders**

1. The resolutions of the General Meeting of Shareholders shall be adopted with a majority of valid votes
cast, unless a larger majority is prescribed by law or the Articles of Incorporation.

2. A resolution of the General Meeting of Shareholders on an amendment of the Articles of Incorporation requires a majority of at least
three quarters of valid votes cast. For any amendments of the Articles of Incorporation which require a simple majority for stock corporations
established under German law, however, the simple majority of the valid votes cast shall suffice if at least half of the sub- scribed
capital is represented or, in the absence of such quorum, the majority prescribed by law shall suffice.

**Section 22**

**Record of the General Meeting of Shareholders**

1. The proceedings at the General Meeting of Shareholders shall be recorded by notarial deed, and the record
shall be signed by the notary public.

2. The record shall have full probative value for the shareholders, both with regard to their relationship *inter se* and in their relationship to their representatives.

3. The proxy documents need not be attached to the record.

![](tm2530916d1_ex4-1img001.jpg)

**IV. Annual Financial Statements and Appropriation of Retained Earnings**

**Section 23**

**Fiscal Year, Annual Report, Annual Financial Statements and Group Annual Financial Statements, Formal Approval of the Acts of the Executive and Supervisory Boards, Distribution of Retained Earnings**

1. The fiscal year shall be the calendar year. The first fiscal year shall be the calendar year in which
SAP SE is registered in the commercial register for the Company.

2. In the first three months of each fiscal year, the Executive Board shall prepare the annual financial statements, the group annual
financial statements, the management report, and the group management report for the previous fiscal year and submit them to the Supervisory
Board and to the auditor. At that time the Executive Board shall submit to the Supervisory Board the proposal it wishes to make to the
Annual General Meeting of Shareholders concerning the appropriation of retained earnings. These provisions do not affect Sections 298
(3) and 315 (3) HGB.

3. The annual financial statements, the group annual financial statements, the management report, the group management report, the Supervisory
Board's report pursuant to Section 171 (2) AktG, and the Executive Board's proposal for the appropriation of the
retained earnings shall be available for the shareholders' inspection at the offices of the Company from the time when the Annual
General Meeting of Shareholders is called. The obligations under the foregoing sentence shall not apply if the specified documents are
made available on the Company's website for the same period of time.

4. Each year, after receiving the Supervisory Board's report pursuant to Section 171 (2) AktG, the Annual General Meeting of Shareholders
shall resolve within the first six months of the fiscal year on the formal approval of the acts of the Executive and Supervisory Boards,
the appropriation of the retained earnings, the appointment of the auditor, and in the cases provided for by law, the adoption of the
annual financial statements, and approval of the group annual financial statements.

5. When approving the annual financial statements, the Executive and Supervisory Boards shall be authorized to transfer to revenue reserves
either all or part of the annual net income remaining after deduction of amounts to be transferred to the legal reserves and of any accumulated
losses carried forward. The Executive and Supervisory Boards may not transfer more than one half of the annual net income if, after such
transfer, the other revenue reserves would exceed one half of the capital stock.

6. Instead of distributing a cash dividend, the General Meeting of Shareholders can resolve to appropriate
retained earnings by way of distribution in kind.

**V.** **Final Provisions**

**Section 24**

**Formation Costs**

1. The Company shall bear all costs connected with its formation and conversion to a stock corporation, estimated
to be DM 250,000.00.

2. The Company shall bear all costs connected with the formation of SAP SE by way of the conversion of SAP
AG to a European Company (SE) in the amount of up to €4 million.

**– End of Articles of Incorporation –**

**SAP SE**

Dietmar-Hopp-Allee 16

69190 Walldorf Germany

## Exhibit 5.1

**Exhibit 5.1**

November 14, 2025

**Legal Opinion of General Counsel of SAP SE**

**Registration Statement on Form S-8 Relating to the Own SAP Plan**

I am the General Counsel of SAP SE, a European Company (Societas Europaea, or "SE"). SAP SE is organized in the Federal Republic of Germany under German and European Law (the "Company"), and I am familiar with the Own SAP Plan (the "Plan").

Pursuant to the Plan, eligible employees will have an opportunity to purchase dividend bearing Ordinary Shares in the Company, as provided in the Plan Documents (as defined below).

This opinion is given in connection with the filing by the Company with the U.S. Securities and Exchange Commission of a registration statement on Form S-8 (the "Registration Statement") pursuant to the U.S. Securities Act of 1933, as amended (the "Securities Act"), and the rules and regulations promulgated thereunder (the "Rules").

In connection therewith, I have examined and am familiar with originals or copies, certified or otherwise identified to my satisfaction, of (i) the Registration Statement, (ii) the terms of the Plan (the "Plan Terms"), (iii) the Articles of Incorporation (*Satzung*) of the Company, (iv) an excerpt with respect to the Company from the commercial register at the local court (Amtsgericht) in Mannheim, (v) the resolution (the "Resolution") adopted by the Executive Board of the Company, approving the Plan Terms, (vi) the Own SAP Plan Brochure, as amended to date and (vii) such other documents as I have deemed necessary or appropriate as a basis for the opinions set forth below. The Plan Terms and the Resolution are referred to hereinafter as the "Plan Documents."

In my examination, I have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to me as originals, the conformity to original documents of all documents submitted to me as certified or photostatic copies and the authenticity of the originals of such copies. As to any facts material to the opinion expressed herein which were not independently established or verified, I have relied upon statements and representations of officers and other representatives of the Company and others.

Based upon and subject to the foregoing, I am of the opinion that the Ordinary Shares that may be transferred for delivery under the Plan, will be, when transferred and paid for in accordance with the Plan Documents, validly issued, fully paid and nonassessable.

The foregoing opinion is limited to the laws of the Federal Republic of Germany, and I express no opinion as to the laws of any other jurisdiction.

This opinion is delivered to you solely in connection with the Registration Statement and may not be used, circulated, quoted or otherwise referred to or relied upon for any other purpose or by any other person or entity without my express prior written permission.

I consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, I do not admit that I am within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules.

Very truly yours,

---

| |
|:---|
| /s/ Gabriel Harnier |
| Gabriel Harnier |
| General Counsel |
| SAP SE |

---

## Exhibit 23.2

**Exhibit 23.2**

**Consent of Independent Registered Public Accounting Firm**

We hereby consent to the incorporation by reference in this Registration Statement of our reports dated February 19, 2025, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting, of SAP SE (the Company) appearing in the Company's Annual Report on Form 20-F for the year ended December 31, 2024.

---

| |
|:---|
| /s/ BDO AG Wirtschaftsprüfungsgesellschaft |
| BDO AG Wirtschaftsprüfungsgesellschaft |
| Hanauer Landstraße 115 |
| 60314 Frankfurt am Main |

---

November 14, 2025

## Exhibit 23.3

**Exhibit 23.3**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated February 22, 2023, except for the adjustments to: (a) retrospectively apply the change in accounting to present gains and losses from minor divestitures, not qualified as discontinued operations, under other non-operating income/expense instead of other operating income/expense, net described in Note C.3, (b) restate segment information in conformity with the new segment composition described in Note C.1, (c) retrospectively apply the change in accounting to present the Qualtrics disposal group as a discontinued operation described in Note D.1, and (d) present the updated cost allocation policy described in Note IN.1, with respect to the consolidated financial statements of SAP SE, incorporated herein by reference.

---

| |
|:---|
| /s/ KPMG AG Wirtschaftsprüfungsgesellschaft |
| KPMG AG Wirtschaftsprüfungsgesellschaft |
| Mannheim, Germany |

---

November 14, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **SAP SE**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Ordinary Share, without nominal value | Other | 1800000 | $252.28 | $454104000.00 | 0.0001381 | $62711.76 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $454104000.00  |  | $62711.76  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $62711.76  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> 1(a) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), the registration statement on Form S-8 shall also cover an indeterminate amount of Ordinary Shares (the "Ordinary Shares") of SAP SE ("Registrant") that become issuable with respect to the securities identified in the above table, by reason of stock splits, stock dividends or similar anti-dilution adjustments of outstanding Ordinary Shares. 1(b) Estimated in accordance with Rule 457(h)(1) and Rule 457(c) under the Securities Act, solely for the purpose of computing the registration fee, based upon the average of the high and low price per Ordinary Share reported on Xetra, the electronic trading platform of Deutsche Boerse AG, on November 10, 2025 translated into U.S. dollars at an exchange rate of EUR1 to $1.15592, the euro foreign exchange reference rate as published by the European Central Bank on that date.

---

| | |
|:---|:---|
| | |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

---