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Investor Presentaiton

VOLKSWAGEN GROUP CHINA Strong historical car market growth changing towards normalization Chinese total car market (in '000 units) Car market growth comparison 25,000 Passenger vehicle market 24,421 20% 23,295 22,256 21,417 21,670 19,717 15% 20,000 18,071 16,185 15,000 13,641 12,644 10,000 5,000 18.6% 8.1% 10% 7.9% 8.8% 5% 0% -5% -2.9% -4.2% 11.7% 9.1% 8.6% 4.7% 4.8% 5.6% 1.2%) 4.8% 2.7% 2.9% -0.1% -1.1% -2.2% -2.4% 0 -10% 2011 2012 2013 2014 2015 2016e 2017e 2018e 2019e 2020e 2011 2012 2013 2014 2015 2016e 2017e 2018e 2019e 2020e Source: IHS Source: IHS 1) 2017 estimate under the assumption of no specific tax cut for cars in China. Volkswagen Group China - Introduction to China and Volkswagen Group China Chinese Market Volkswagen Group in China Strategy and Future Development 7
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