Volkswagen Group China Strategy and BEV Outlook

Software - CARIAD VOLKSWAGEN GROUP Contracted Licenses ['000 units] Sales Revenue [€ bn] 12,338 +35% Jan-Jun 2022 16,623 Jan-Jun 2023 Operating Result ¹ [€ bn / Ros] 0.2 Jan-Jun 2022 +32% 0.3 Jan-Jun 2023 Net Cash Flow 2 [€ bn] CARIAD Key Takeaways Sales revenue up 32% NCF in H1 2023 benefitted from € 1bn intragroup income tax refund Negative Operating Cash flow of ~ € 1.8bn -1.0 -1.1 -0.8 Jan-Jun Jan-Jun 2022 2023 2022 Jan-Jun -0.8 Jan-Jun 2023 1. Before special items I 2. Reported figure JOIN MAKE CARS ETTY SMART WE ARE CARIAD ARIA 24 24

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