#1VOLKSWAGEN GROUP CHINA 未来之行 Mobility for Generations to Come Volkswagen Group China, Corporate Presentation 2020 Mr. Rainer Seidl, Executive Vice President Finance Volkswagen (China) Investment Co., Ltd. BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation#2VOLKSWAGEN GROUP CHINA 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 Such statements are valid on the date of publication and can be superseded.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. BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation 2#3VOLKSWAGEN GROUP CHINA VGC at a glance Brands&Products Market & Sales Strategy Volkswagen Group China at a glance Audi SKODA JETTA B 思皓 BENTLEY PORSCHE 上汽大众 SAIC VOLKSWAGEN 一汽-大众 FAW-VOLKSWAGEN -大众车有限公司合资合同签字仪式 JEMPTY 江淮大众 JAC VOLKSWAGEN 安徽江淮汽车集团 Anhui Banghai Autumüller Grisp Volkswagen Greep 德国大众汽车集团 战略合资合作协议签署暨启动仪式 DUCATI BUGATTI SCANIA MAN VOLKSWAGEN FINANCIAL SERVICES THE KEY TO MORILITY band Laung Ceremy of ratic Pe More than 100 models Fascinating brands and services 1984: first Joint Venture SAIC VOLKSWAGEN was founded 1991: FAW-Volkswagen was founded in Changchun 2017: JAC Volkswagen was founded 2020 planned: Increase stake in JAC- VW JV to 75% top EMPLOYER ORSONE CHINA VOLKSWAGEN DEMPLOYER ID. Crozz Around 100,000 employees 34 production plants in 2020 20% market share in China's passenger car market BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation We come to New Volkswagen Over 42 million cars delivered since market entry Investment plan of €15 billion in future topics: E-mobility, hybridization, digitalization 3#4VGC at a glance Brands&Products Market & Sales Strategy VOLKSWAGEN GROUP CHINA Volkswagen Group production sites all over China Volkswagen Group production facilities Urumqi Chengdu Changchun Dalian Beijing Tianjin Qingdao Yizheng Hefei Nanjing Changzhou Shanghai Ningbo Changsha Foshan Facts and Figures ➤ 34 production plants in China in 2020 6 FAW-Volkswagen vehicle plants Changchun (2 plants) • Chengdu Foshan (1 MEB plant) Qingdao Tianjin 9 SAIC VOLKSWAGEN vehicle plants Shanghai (3 MQB plants + 1 MEB plant) Nanjing Yizheng Ningbo Urumqi Changsha FAW-Volkswagen vehicle plants SAIC VOLKSWAGEN vehicle plants JAC Volkswagen vehicle plant Component plants Battery workshops Headquarters Volkswagen Group China MAN Diesel & Turbo 1) incl. MAN Diesel & Turbo in Changzhou BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation . JAC Volkswagen, Hefei plant • 18 component & energy plants¹) 4#5VGC at a glance Brands&Products Market & Sales Strategy VOLKSWAGEN GROUP CHINA Joint Venture structure of Volkswagen Group in China Start of production 1st JV contract signed 上汽大众 SAIC VOLKSWAGEN 1983 (Santana B2) 1984 一汽-大众 FAW-VOLKSWAGEN 1991 (Jetta) 1990 江淮大众 JAC VOLKSWAGEN Market launch in 2019 2017 5% ■SAIC ■FAW 40% 25% Ownership structure JAC 50% = VCIC1) VCIC 50% 60% 50% ■ VW AG VW AG²) 10% Audi AG VCIC3) 10% 1) Volkswagen (China) Investment Co., Ltd. 100% owned by Volkswagen AG. 3) Volkswagen plans to increase the stake in JAC-VW joint venture to 75% in 2020 2) Including stakes held by ŠKODA AUTO a.s. and Audi AG BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation 5#6VOLKSWAGEN GROUP CHINA VGC at a a glance Brands&Products Market & Sales Strategy Strong brands and products VOB ID41E 7 JETTA 000 Audi LAMBORGHINI GEVERTON SCAVA DA SCANIA SCANIA PORSCHE ŠKODA B BENTLEY DUCATI BUGATTI aggo Commercial Vehicles BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation MAN 30 020 2850 16#7VGC at a glance Brands&Products Market & Sales Strategy VOLKSWAGEN GROUP CHINA Market for New Energy Vehicles is expected to grow rapidly and Volkswagen Group China started its NEV offensive in 2019 NEV Total Market in China (in '000 units) Battery Electric Vehicles Plug-in Hybrid Electric Vehicles 4/5 310 555 1,007 1,079 1,000 -76% 75% 80% 81% 24% 2/3 1/5 19% 25% 20% 1/3 2016 2017 2018 2019 2020e 2025e ... Data source: 2016-2019 CPCA BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation Volkswagen Group China In 2020 >20 NEV models of all our brands >50% of them locally produced In 2025 Increase the share of e-models to 35% Increase the number of NEV models to 15 Prepared to deliver 1.5 million NEVS 7#8VOLKSWAGEN GROUP CHINA VGC at a glance Brands&Products Market & Sales Strategy TOGETHER for China 2025+ Strategy Excited customers Our new vision Excellent Sustainable employer Competitive profitability growth Role model for environment, safety and integrity Shaping mobility - – for generations to come. Our updated action plan Best Best Brand and JV strategies + Best Software- Brand enabled Excellent Governance Performance Equity Car Company Leadership Our belief Values and integrity BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation + Extended Business Functional + strategies 8 00#9VGC at a glance Brands&Products Market & Sales Strategy VOLKSWAGEN GROUP CHINA Operating in a highly-challenging environment in Region China Macro-economic situation Competition & Sales costs } VW China business model Environment Industry shifts Product portfolio & brand dilution BofA Virtual Investor Conference Call, Nov 2020 | Volkswagen Group China Corporate Presentation Regulatory environment Technology 9