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Investor Presentaiton

VOLKSWAGEN GROUP CHINA • . Successful capital market transactions in the local market Asset Backed Securities Driver China one: RMB 0.8bn (08/2014) Driver China two: RMB 1.9bn (07/2015) Driver China three: RMB 3.0bn (01/2016) Driver China four: RMB 3.0bn (07/2016) First ABS transaction in China with international ratings; Driver China one was placed with both, national and international investors First ABS transaction in China certified by TSI (True Sale International). The Banker DEALS OF THE 中国化 YEAR 2015 China Securitization Forum IFR IFRASIA AWARDS 2014 AWARDS 2014 IFLR INTERNATIONAL FINANCIAL LAW REVIEW GlobalCapital Asia Awards ASIAMONEY ASIAN A THE Asset TRIPLE A WARDS • Debt Capital Markets 1st bond: RMB 2bn (05/2016), due 05/2019 The issue was oversubscribed 2.2 times "Our business in China has grown strongly during the last few years. The fact that we are now also active in the unsecured capital market in China following the establishment of our ABS programme is a consequence of our clearly defined refinancing strategy." (Frank Fiedler, CFO Volkswagen Financial Services AG) Volkswagen Group China - Balancing the "New Normal" Financials Investments Financial Services 47
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