Investor Presentaiton

VOLKSWAGEN FINANCIAL SERVICES THE KEY TO MOBILITY Credit Risk - Volkswagen Finance (China) vs. Volkswagen Financial Services Provision Ratio 2.2% VW FS China 0.7% 2.0% 2.0% 1.80% 1.4% 3.9% 1.1% 1.1% 2.1% 2.0% Provision Ratio 1.2% 0.7% 0.8% 1.0% 1.0% Volkswagen Finance (China) Investor Meeting | VW FS AG | April 2015 2011 2012 2013 2014 Retail Corporate 21

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