Diazolidinyl Urea (30%), Methylparaben (11%), and Propylparaben (3%), which means it is a formaldehye releaser that contains parabens.
Because it contains three different preserving chemicals, it is suggested for use as a preservative for products that are hard to preserve, like those containing a lot of botanicals or proteins, like a toner or lotion with a lot of extracts and hydrosols. (I like it for things like strawberry extract that are very hard to preserve!)
Although the manufacturer notes it can be added to your products at emulsification temperatures - up to 80˚C - it's best used in your cool down phase at less than 60˚C.
Summary of Germaben II:
INCI: Propylene Glycol, Diazolidinyl Urea, Methylparaben, and Propylparaben.
Usage: 0.5% to 1% in the cool down phase of your creation
Water soluble, so it's not suitable for anhydrous creations
pH range: 3.0 to 7.5