Investor Presentaiton

VOLKSWAGEN GROUP CHINA Chinese Joint Ventures generate substantial, self-funded growth and at the same time robust dividend pay-out Total amount of dividends paid out to Joint Venture partners (in € billion) II Total amount of dividend Chinese Joint Ventures ■thereof paid to Volkswagen Group * Dividend for the year 2015 declared 2.8 1.2 4.6 6.5 6.7 2.8 3.0 2.0 10.0 4.5 8.1* 3.6* 2011 2012 2013 2014 2015 2016 Volkswagen Group China - Balancing the "New Normal" Financials Investments Financial Services 32 32

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