Group quarterly statement

1st Quarter

2021

1st Quarter

2021

Porsche Automobil Holding SE ("Porsche SE" or the "company"), as the ultimate parent of the Porsche SE Group, is a European Company (Societas Europaea) and is headquartered at Porscheplatz 1 in 70435 Stuttgart, Germany. As of 31 March 2021, the Porsche SE Group had 908 employees (916 employees).

Porsche SE is a holding company with investments in the areas of mobility and industrial technology. In particular, it holds the majority of the ordinary shares in Volkswagen AG, one of the leading automobile manufacturers in the world. The Volkswagen Group comprises twelve brands with registered offices in seven European countries: Volkswagen passenger cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen commercial vehicles, Scania and MAN. The collaboration between the MAN and Scania commercial vehicle brands is coordinated in TRATON SE. In addition to the investment in Volkswagen AG, the Porsche SE Group holds 100% of the shares in PTV AG as well as non-controlling interests in five technology companies based in the USA and Israel.

The principal criteria of Porsche SE for the acquisition of investments are the connection to industrial production or to the future of mobility. The prerequisites for investment by Porsche SE are always the positioning in an attractive market environment, an above-average growth profile and mid- to long-term potential for profitability of the companies.

This group quarterly statement by Porsche SE relates to the development of business and its effects on the results of operations, financial position and net assets in the first three months of the fiscal year 2021.

All figures and percentages are rounded according to customary business practice, so minor discrepancies may arise from the addition of these amounts. The comparative prior-year figures are presented in parentheses alongside the figures for the current reporting period.

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Content

Significant events and developments

6

at the Porsche SE Group

Significant events and developments

10

at the Volkswagen Group

Business development

12

Explanatory notes on results of operations,

16

financial position and net assets

Opportunities and risks of future development

22

Outlook

23

Glossary

27

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Porsche Automobil Holding SE published this content on 19 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2021 08:05:07 UTC.