Frankfurt, 20th January 2020

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Frankfurt, 20th January 2020
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 Frankfurt, 20th January 2020
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Frankfurt, 20th January 2020
Disclaimer

The following presentations contain forward-looking statements and information on the business development of the Volkswagen Group. These statements
may be spoken or written and can be recognized by terms such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “will” or words
with similar meaning. These statements are based on assumptions, which we have made on the basis of the information available to us and which we consider
to be realistic at the time of going to press. These assumptions relate in particular to the development of the economies of individual countries and markets,
the regulatory framework and the development of the automotive industry. Therefore the estimates given involve a degree of risk, and the actual
developments may differ from those forecast. The Volkswagen Group currently faces additional risks and uncertainty related to pending claims and
investigations of Volkswagen Group members in a number of jurisdictions in connection with findings of irregularities relating to exhaust emissions from
diesel engines in certain Volkswagen Group vehicles. The degree to which the Volkswagen Group may be negatively affected by these ongoing claims and
investigations remains uncertain.
Consequently, a negative impact relating to ongoing claims or investigations, any unexpected fall in demand or economic stagnation in our key sales markets,
such as in Western Europe (and especially Germany) or in the USA, Brazil or China, and trade disputes among major trading partners will have a corresponding
impact on the development of our business. The same applies in the event of a significant shift in current exchange rates in particular relative to the US dollar,
sterling, yen, Brazilian real, Chinese renminbi and Czech koruna.
If any of these or other risks occur, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly differ from
those expressed or implied by such statements.
We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superseded.
This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.

21.01.2020                                                                                                                                                           2
Frankfurt, 20th January 2020
Volkswagen Group – Deliveries to Customers by Brands1)
(January to December 2019 vs. 2018)
[thsd. units]
                  +1,3%
                                                                                                                                  January – December 2018

 11.000       10.834 10.975                                                                                                       January – December 2019

                                                      Volume                                      Premium                  Sport & Luxury                   Truck & Bus
 10.000
                                                     +0,8 %                                       +2,0 %                     +9,4 %                          +4,0 %
     9.000

     8.000
                                     +0,5%

     7.000
                                6.245 6.278
     6.000

     5.000

     4.000
                                                                                             +1,8%
     3.000
                                                -0,9%
     2.000                                                      +10,9%        -1,6%        1.812 1.846
                                              1.254 1.243                                                             +9,6%                             +4,6%          +3,1%
                                                                                                            +42,7%                      +4,9%
     1.000                                                     518   574   500     492
                                                                                                                     256    281                       137   143       96   99
                                                                                                            6    8                     11    11
         0

                                 Volkswagen                                Nutzfahrzeuge

1)   Volkswagen Group excl. Ducati

21.01.2020                                                                                                                                                                      3
Frankfurt, 20th January 2020
Development World Car Market vs. Volkswagen Group Car Deliveries to Customers 1)
(Growth y-o-y in deliveries to customers, January to December 2019 vs. 2018)

                       Car Market        VW Group                                        Car Market            VW Group       Car Market               VW Group

                                                                                                                +4,8%
                                                                                                                                2,7%
                                                                                            +0,6%                                                      1,2%

                                            -0,5%
                         -2,3%

                         North America (incl. LCV)                                              Western Europe                 Central & Eastern Europe

                       Car Market        VW Group                                        Car Market            VW Group       Car Market          VW Group

                                            +1,8%                                                                1,3%

                                                                                                                                                       -0,2%

                                                                                            -4,0%
                         -5,0%
                                                                                                                                -6,0%

                         South America (incl. LCV)                                                  World 2)                            Asia Pacific

1)   Volkswagen Group Passenger Cars excl. Volkswagen Commercial Vehicles   2)   incl. LCV in North America & South America

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Frankfurt, 20th January 2020
Passenger Car Market Forecast 2020

[mil. units]

                                                -2%
                                                                                      -2%
                       20,8             20,4              20,0                                                            +4%
                                                                 14,3        14,2           13,9
                                                                                                   3,4             3,5              3,6

                       2018            2019               2020   2018       2019            2020   2018           2019          2020

                              North America (incl. LCV)                 Western Europe                   Central & Eastern Europe

                                                                                      0%
                                                                 83,6        80,0           80,1

                                                                                                                          +1%
                                                                                                   36,6            34,3         34,7
                                                +2%
                        4,6             4,4               4,5

                       2018            2019               2020   2018       2019            2020   2018           2019          2020

                              South America (incl. LCV)                    World 1)                            Asia Pacific

1)) incl.   LCV in North America & South America

21.01.2020                                                                                                                                5
Frankfurt, 20th January 2020
Volkswagen Group – SUV Mix
Strong Increase Will Continue in the Near Future

Volkswagen Group* - SUV share 2014 - 2025
(in % of regional Group Deliveries to Customers)
                                                                                                        > 50%

                                                                                                                ≈ 50%

                                                                                                                >50%

        Worldwide:
          ≈ 13%
12%
14%                                                                                                             >65%
17%
                 2014   2015   2016   2017     2018   2019         2020   2021   2022   2023   2024      2025
                                                                                               Europe   China   NAR

* excl. Ducati
                                                       Source: PR 68.OP
21.01.2020                                                                                                            6
Frankfurt, 20th January 2020
To ensure future profits, we drive a fundamental transformation towards electrification and
digitalisation

Transformation

     1           Electrical transformation:
                 Battery electric vehicles                  Commitment to Paris goals 2050

    Conventional platforms                                    Software & electric platforms

Transformation
                 Digital transformation:
     2
                                                            We will become a leading
                 Fully networked vehicles
                 and autonomous driving                     automotive software company

21.01.2020                                                                                    7
Frankfurt, 20th January 2020
BEVs are the first choice as the most cost-efficient solution for CO2 reduction…

Measures for CO2 reduction in €/g CO2

 95 €/g CO2
                                                                                                                                                              #1

                               Diesel ICE                          Gasoline ICE                     Gasoline ICE   Gasoline ICE   BEV MEB 1st   BEV MEB 2nd
                                  EU7                                Hybrid                         Mild Hybrid      Plug-In      Generation    Generation
                                                                                                                     Hybrid

* Example Volkswagen Brand: Ranking CO2 efficiency indicators (average) for selected CO2 measures

21.01.2020                                                                                                                                                         8
Frankfurt, 20th January 2020
…therefore we based our strategy on dedicated BEV platforms already in 2015

                                                1st wave                                                               2nd wave
                                                                                                                                  Our advantage

                              26      m. cars                                                                                     • Strong group position in EU/CN
                                                     Mission E Cross Turismo
                                                                                 MEB Entry Family
                                                                                                                                    guarantees scale effects
                                                                                                                                  • Early decisions on dedicated BEV

                     ~ 33       bn. invest
                                                      e-tron GT
                                                                                                                                    platforms unleash value
                                                                                                 ID. Buzz

                                                                                                                                  • Multi-brand platforms in
                                                                       ID.3
                                                                                                                                    dedicated plants provide
                                                                                                                                    efficiencies
                 Battery supply secured
                                                                                                   Vision E

                                                        ID. Vizzion

                                                                                            e-tron Sportback concept

             3   World regions
                                                                       Taycan

                 China, USA, Europe

                                                       e-tron                   ID. Crozz

21.01.2020                                                                                                                                                             9
Frankfurt, 20th January 2020
Based on strong customer interest, we will significantly increase our BEV deliveries

Volkswagen Group – BEV volume by regions
(BEV share of total Group Deliveries in %)
                                                                                                                     > 20%
                                                                                                                  ≈ 3 mn units

                                                                             Europe          China   NAR    RoW

 e-tron             e-Bora         ID.3        e-Mii
 Taycan             e-Lavida       el-Born     e-Citigo
 Q2L e-tron         Moia Shuttle   e-tron SB   Taycan Cross Turismo
 eTGE                              e-Tharu     Vision iV
                                   ID.Crozz

                                   ≈ 4%

             ≈ 1%

             2019                  2020                       2021    2022            2023                 2024       2025

21.01.2020                                                                                                                       10
Our dedicated BEV strategy enables us to meet CO2 requirements

21.01.2020                                                       11
Model highlights in 2020
BEV models

             Volkswagen ID.3         Volkswagen ID.CROZZ

             Audi e-tron Sportback   SEAT el-born

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Model highlights in 2020

             Volkswagen Golf   Volkswagen T-Roc Cabrio

             Audi S8           ŠKODA Octavia

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