#1e-tron FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 | 10:00 - 11:00 CET Audi A6 Avant e-tron concept: The vehicle shown here is a concept car that is not available as a production model.#22 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Disclaimer The following presentations as well as remarks/comments and explanations in this context contain forward-looking statements on the business development of the Audi 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. At the time of preparing these presentations, it is not yet possible to conclusively assess the specific effects of the latest developments in the Russia-Ukraine conflict on the Audi Group's business, nor is it possible to predict with sufficient certainty to what extent further escalation of the Russia-Ukraine conflict will impact on the global economy and growth in the industry in fiscal year 2022. Any changes in significant parameters relating to our key sales markets, or any significant shifts in exchange rates or commodities. relevant to the Audi Group or the supply with parts (especially semiconductors), 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 sustainable 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 Such statements are valid on the date of publication and can be superseded.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.#3FY 2021 e-tron Investor Relations Conference Call & Webcast March 18, 2022 | 10:00-11:00 CET | Markus Duesmann | CEO Audi A6 Avant e-tron concept: The vehicle shown here is a concept car that is not available as a production model.#44 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Audi BEV portfolio continues to grow electric models in 2026. - e-tron GT RS e-tron GT e-tron Sportback Q4 e-tron Q4 Sportback e-tron from 8 models today to over 20 fully >20 BEV in the portfolio by 2026 Q2L e-tron* e-tron 8 BEV in the current portfolio Q5 Roadjet e-tron* *Audi Q2L e-tron, Audi Q5 e-tron are only available for sale in China. Combined electric power consumption in kWh/100 km: Audi e-tron GT: 19.6-18.8 (NEDC); Audi RS e-tron GT: 20.2-19.3 (NEDC); Audi e-tron: 24.3-21.4 (NEDC); Audi e-tron Sportback: 24.0-20.9 (NEDC); Audi Q4 e-tron: 18.3-15.2 (NEDC); Audi Q4 e-tron Sportback: 18.1-15.0 (NEDC); Combined CO2 emissions of all vehicles in g/km: 0 (NEDC); Information on power consumption and CO2 emissions in ranges depending on the chosen equipment level of the car.#55 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 JJJJ m Audi A6 Avant e-tron concept Audi A6 Avant e-tron concept: The vehicle shown here is a concept car that is not available as a production model.#66 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Audi FAW NEV Company is a cornerstone of our electrification initiative in China. cars based on the -PPE GOGOOOOD 150k €2.6bn OOOOD project investment platform annual production capacity PRESS SHOP BODY CONSTRUCTION PAINT SHOP CO2-neutral production¹ BATTERY ASSEMBLY FINAL ASSEMBLY 1 Audi regards net carbon neutrality as a state in which, following the exhaustion of other possible measures aimed at reducing the still remaining CO₂ emissions caused by the products or activities of Audi and/or currently unavoidable CO2 emissions within the scope of the supply chain, manufacturing and recycling of Audi vehicles, at least quantitative compensation is provided through voluntary and globally conducted compensation projects. Throughout the utilization phase of a vehicle, meaning from when a vehicle is delivered to a customer, CO₂ emissions produced are not taken into account.#77 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Brand Group enables us to leverage synergies effectively. B BENTLEY LAMBORGHINI DUCATI#8FY 2021 e-tron Investor Relations Conference Call & Webcast March 18, 2022 | 10:00 - 11:00 CET | Jürgen Rittersberger | CFO Audi A6 Avant e-tron concept: The vehicle shown here is a concept car that is not available as a production model.#99 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 - lost sales Audi achieves solid operating result in a volatile environment compensated through beneficial pricing and consistent management. CHALLENGES Supply bottlenecks Coronavirus pandemic BOO COUNTERMEASURES Production adjustments Transaction price increases Increasing raw materials IN GT 102 prices FY 2021 Operating profit €5.5bn Operating return on sales 10.4% Fixed costs improvement Audi RS e-tron GT: Combined electric power consumption in kWh/100 km: 20.2-19.3 (NEDC), 22.5-20.6 (WLTP); combined CO2 emissions in g/km: 0 Information on fuel/power consumption and CO2 emissions in ranges depending on the chosen equipment level of the car.#1010 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Strong market demand can only partly be satisfied due to chips shortage - after a low point in Q3, sequential sales improvement in November and December. DELIVERIES TO CUSTOMERS Audi Brand, in k units 2020 12021 1,693 ·-0.7%― 1,681 463 519 506 480 + 46% - 24% - 34% +31% 366 353 354 333 2020 2021 Q1 02 Q3 Q4#1111 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Sales increase in the US can only partly offset deliveries decline in Europe and in China. RIES T DELIVERIES TO CUSTOMERS Audi Brand, in k units USA 187 +5.0% 196 EUROPE CHINA (INCL. HONG KONG) -3.6% 727 -0.4% 701 620 617 2020 2021 2020 2021 2020 2021#1212 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 BEV transformation is well underway: 5% of total deliveries are now fully electric. BEV DELIVERIES TO CUSTOMERS 1 Audi Brand, in k units +57.5% 82 Q2 L E-TRON¹ 4,743 E-TRON GT 6,896 52 3.1% 2020 4.9% 2021 1 Includes Audi Q2 L e-tron, which is only available in China. E-TRON Q4 E-TRON 21,098 r Heuwagen Cabrachtwagen Sonics → Parkplätze Direktannahnia 49,157 Audi RS e-tron GT: Combined electric power consumption in kWh/100 km: 20.2-19.3 (NEDC), 22.5-20.6 (WLTP); combined CO2 emissions in g/km: 0; Information on fuel/power consumption and CO2 emissions in ranges depending on the chosen equipment level of the car.#1313 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Revenue increased by 6% mainly thanks to improved pricing, BEV market introductions as well as strong performance of the aftersales business. REVENUE Audi Group, in €m ·+6.2%· 49,973 53,068 OPERATING PROFIT Audi Group, in Єm, in % of revenue +114.0%- 7 5,498 10.4% 2020 2021 deliveries -0.7% 7 C/D segment revenue +5%1 7 BEV revenue +89%2 7 original parts +25% 2,569 5.1% 2020 2021 1 Revenues from vehicle sales of Audi A6, Audi A7, Audi e-tron, Audi Q7, Audi Q8, Audi A8, Audi R8, Audi e-tron GT, Lamborghini Urus, Lamborghini Huracán. 2 Revenues from vehicle sales of Audi e-tron, Audi e-tron GT, Audi Q4 e-tron.#1414 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Strong pricing and residual values drive improvement in operating profit; tailwind from raw materials valuation effect. OPERATING PROFIT Audi Group, in €m¹, in % of revenue FX & raw materials 2,739 5.5% Market volume prices hedging valuation 813 3,151 5,546 5,498 (603) Product costs (59) 10.5% 10.4% Fixed costs & other (495) AID3 (48) in FY2021 +€770m transfer (prior year) Special items 2020 before special items² 2021 before special items 2021 1 All figures rounded individually; small deviations possible if added up. 2 FY2020 special items (€170m) in connection with diesel issue. 3 Autonomous Intelligent Driving GmbH#1515 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Investment with a strong product focus: higher cash R&D financed by low capex. RESEARCH & DEVELOPMENT Audi Group, in Єm, in % of revenue, capitalization rate in % of cash R&D 3,662 +6.9% 3,913 7.3% 7.4% capitalized 37% 45% 2020 2021 CAPITAL EXPENDITURE Audi Group, in Єm, in % of revenue 1,888 3.8% +5.4% 1,990 3.8% 2020 2021 strategic target corridor 6-7% strategic target corridor 4-5% Audi grandsphere concept: The vehicle shown here is a concept car that is not available as a production model.#1616 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 With €21bn, over 55% of investment budget is set aside. for electrification, hybridization and digitalization. 5-YEAR INVESTMENT PLAN Audi Group, in €bn, PR 70.OP, excl. Bentley, 2022-2026 Electrification €13bn Total investments1 €37bn of which future topics €21bn Hybridization €5bn Digitalization² €3bn + 1 Sum of capital expenditure and R&D activities according to Planning Round 70, for the periods 2022-2026. All figures rounded to the nearest billion; discrepancies may arise when figures are added together individually. 2 Including other future topics, not including CARIAD budget. Audi skysphere concept: The vehicle shown here is a concept car that is not available as a production model.#1717 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 High net cash flow is mainly driven by strong operating performance. NET CASH FLOW Audi Group, in €m +69.0% 7,757 4,589 7 gross cash flow investment discipline 7 receivables effects 7 provisions e.g. Audi.Zukunft IN Q4012E 2020 2021 changes in participations¹ 1 FY2020 figure includes approx. €1.5bn cash inflow from transfer of participations: Audi Electronics Venture GmbH, Autonomous Intelligent Driving GmbH and economic property of FAW-VW to the Volkswagen Group, as well as adjustment to There Holding participation; Audi Q4 45 e-tron quattro: Combined power consumption in kWh/100 km: 21.3-17.9 (WLTP); 18.2 - 16.5 (NEDC); Combined CO2 emissions in g/km: 0; Information on fuel/power consumption and CO2 emissions in ranges depending on the chosen equipment level of the car.#1818 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 In challenging years affected by the corona pandemic and supply shortage Audi has improved working capital and adapted inventories structure. INVENTORIES, NET WORKING CAPITAL¹ Audi Group, balance sheet figures, in €bn inventories net working capital¹ 9.4 INVENTORIES Audi Group, balance sheet figure, in Єm --0.1%3 7,095 7 7,090 new cars 7.9 7.8 7.1 66 7.1 6:1 517 56 48 Dec 31, 2017 Dec 31, 2018 Dec 31, 20192 Dec 31, 2020 Dec 31, 20213 used cars unfinished goods raw materials and supplies Dec 31, 2020 Dec 31, 20213 1 Net working capital calculated from balance sheet figures as inventories + trade receivables - trade payables; 2 Deconsolidation of the multi-brand national sales companies was effective 01.01.2019; 3 2021 figures impacted by assets/liabilities of NSCs classified as available for distribution to the parent: inventories €197m.#1919 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Continued investment discipline and inventories management enable Audi to reduce invested capital. INVESTED CAPITAL / RETURN ON INVESTMENT Audi Group, average invested capital in €bn, Rol after tax average invested capital return on investment 24.8 22.7 14.4% 2017 10.0% 2018 24.9 24.3 23.1 12.7% 20191 7.4% 2020 16.7% 20212 1 Deconsolidation of the multi-brand national sales companies was effective 01.01.2019, 2018 Rol figure adjusted for the effect was 10.4%, invested capital €23.7bn; 2 Deconsolidation of the multi-brand national sales companies was effective 01.01.2021. UKA ++210230R07#2020 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Ducati with a successful year - deliveries increase by 24%, return on sales reaches 7%. DELIVERIES TO CUSTOMERS Ducati Brand, in units +23.7%* 7%7 59,447 OPERATING RESULT DUCATI Ducati Brand, before PPA, in €m, in % of revenue +154,1%- %7 48,042 2020 2021 REVENUE Ducati Brand, in €m +30.0%- 676 24 (3,6%) 878 61 (7,0%) 2020 2021 2020 2021#2121 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Lamborghini with a successful year. return on sales above 20%. DELIVERIES TO CUSTOMERS Lamborghini subgroup1, in units +13.1%. 7,430 -13.1%¬ 8,405 - OPERATING RESULT Lamborghini subgroup, in €m, in % of revenue +48,8% 393 (20,2%) 2020 2021 264 (16,2%) REVENUE Lamborghini subgroup, in Єm 1.631 +19.4% 1,948 LAMBORGHINI 2020 2021 2020 2021 1 Lamborghini subgroup comprises all the Brand operations, previously disclosed revenue figures referred to the automotive sales only. Lamborghini Urus: Combined fuel consumption in l/100 km: 20.2-12.6 (NEDC), 12.7 (WLTP); combined CO2 emissions in g/km: 292 (NEDC), 325 (WLTP); Information on fuel/power consumption and CO2 emissions in ranges depending on the chosen equipment level of the car.#2222 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Before the conflict in the Ukraine, we expected slight volume recovery and return on sales between 9% and 11%. Guidance does not include implications of the conflict in Ukraine. 20211 2022 guidance¹ between 1,800k and 1,900k 7 53.1 between €62bn and €65bn لا لا LAMBORGHINI DUCATI B DELIVERIES TO CUSTOMERS 1,689 Automobiles, in k units REVENUE in €bn о OPERATING RETURN 10.4% in % of revenue CASH R&D RATIO in % of revenue CAPEX RATIO in % of revenue NET CASH FLOW in €bn between 9% and 11% strategic target corridor: 9-11% ↑ 7.4% within strategic target corridor of 6-7% within strategic target 3.8% corridor of 4-5% 7.8 between €4.5bn and €5.5bn \ 7 16.7% between 17% and 20% strategic target: above 21% →> 1 Bentley was consolidated January 1, 2022; 2021 values therefore do not include Bentley. Guidance includes Bentley consolidation. RETURN ON INVESTMENT in %#2323 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 Within the Volkswagen Group Audi is responsible for the Brand Group Premium. Ambitious strategic targets defined for each brand. RETURN ON SALES TARGETS 2022-2030 FROM 2030 AUDI BRAND LAMBORGHINI LAMBORGHINI DUCATI DUCATI B BENTLEY 9-11% >11% 22-25% >25% 8-10% > 10% to be published with the Q1 2022 results AUDI GROUP 9-11% >11%#24e-tron Audi A6 Avant e-tron concept: The vehicle shown here is a concept car that is not available as a production model.#2525 AUDI AG FY 2021 Investor Relations Conference Call & Webcast March 18, 2022 The indicated consumption and emissions values were determined according to the legally specified measuring methods. Since September 1, 2017, type approval for certain new vehicles has been performed in accordance with the Worldwide Harmonized Light Vehicles Test Procedure (WLTP), a more realistic test procedure for measuring fuel consumption and CO2 emissions. Since September 1, 2018, the WLTP has gradually replaced the New European Driving Cycle (NEDC). Due to the more realistic test conditions, the consumption and CO2 emission values measured are in many cases higher than the values measured according to the NEDC. Additional information about the differences between WLTP and NEDC is available at www.audi.de/wltp. At the moment, it is still mandatory to communicate the NEDC values. In the case of new vehicles for which type approval was performed using WLTP, the NEDC values are derived from the WLTP values. WLTP values can be provided voluntarily until their use becomes mandatory. If NEDC values are indicated as a range, they do not refer to one, specific vehicle and are not an integral element of the offer. They are provided only for the purpose of comparison between the various vehicle types. Additional equipment and accessories (attachment parts, tire size, etc.) can change relevant vehicle parameters, such as weight, rolling resistance and aerodynamics and, like weather and traffic conditions as well as individual driving style, influence a vehicle's electric power consumption, CO₂ emissions and performance figures. Further information on official fuel consumption figures and the official specific CO2 emissions of new passenger cars can be found in the "Guide on the fuel economy, CO2 emissions and power consumption of all new passenger car models," which is available free of charge at all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, 73760 Ostfildern- Scharnhausen, Germany or at www.dat.de.