Leading the Transformation.

Analyst and Investor Call H1 Volkswagen AG

29 July 2021

Disclaimer

The following presentations as well as remarks/comments and explanations in this context contain forward-looking statements on the business development of the Volkswagen Group. These statements are based on assumptions relating to the development of the economic, political and legal environment in individual countries, economic regions and markets, and in particular for the automotive industry, 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. The estimates given entail a degree of risk, and actual developments may differ from those forecast. Any changes in significant parameters relating to our key sales markets, or any significant shifts in exchange rates or commodities relevant to the Volkswagen Group or deviations in the actual effects of the Covid-19 pandemic from the scenario presented will have a corresponding effect on the development of our business. In addition, there may be departures from our expected business development if the assessments of the factors influencing value enhancement and of risks and opportunities presented develop in a way other than we are currently expecting, or if additional risks and opportunities or other factors emerge that affect the development of our business.

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 Such statements are valid on the date of publication and can be superseded.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.

2

Analyst & Investor Conference Call H1 2021

Herbert Diess

Arno Antlitz

Helen Beckermann

Chairman of the

Chief Financial Officer

Head of

Board of Management

Volkswagen AG

Group Investor Relations

Volkswagen AG

Volkswagen AG

3

In a nutshell: very strong first half of the year 2021

Strong Q2 performance

E-Mobilityramp-up

in challenging environment

gains further momentum

NEW Auto

Updated guidance

paves the way to 2030

amid product momentum & cost cuts

4

All brand groups contributed to strong H1 performance

Volkswagen Group1 Deliveries to Customers, January to June 2021 vs. 2020

Volume

Premium

Sports

Truck & Bus

Hardware

Software

+24.2%

+38.8%

+31.4%

+62.7%

Battery &

Charging

Mobility &

Services

Group: +27.9%

1 Excluding Ducati

5

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Volkswagen AG published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 14:18:08 UTC.