Volkswagen Group China Strategy and BEV Outlook

VOLKSWAGEN GROUP Solid H1 figures testify our robust Business Model Vehicle Sales [m vehicles] Sales Revenue [€ bn] Operating Result and Margin 2 [€ bn] Margin [%] Fair value of derivatives outside hedge accounting 3 132.2 +18% 156.3 10.0% 7.3% -14% Σ 13.2 0.9 Σ 11.3 +11% 4.0 4.4 12.3 (9.3%) 13.9 (8.9%) +20% 2.6 3.1 Ex China JVs Jan-Jun Jan-Jun Jan-Jun Jan-Jun -2.5 2022 2023 2022 2023 Jan-Jun Jan-Jun 1. Previous year adjusted (IFRS 17) 12. Before special items I 3. Including fair value effects in the Automotive Division. 2022 2023 15

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