Volkswagen Group China Strategy and BEV Outlook

VOLKSWAGEN GROUP Solid Margins across both Divisions Passenger Cars impacted by € -2.5bn hedging effects in H1 2023 Automotive Division Passenger Cars 2,3 Operating Result [€ bn] Margin [%] Commercial Vehicles 2,4 Operating Result [€ bn] Margin [%] Financial Services Division Financial Services Operating Result [€ bn] Margin [%] -24% 9.3 7.1 3.5% 0.6 10.4% 6.7% Jan-Jun 2022 Jan-Jun 2023 Jan-Jun 2022 8.0% -28% 3.1 +191% 2.2 1.8 13.4% 8.7% Jan-Jun Jan-Jun Jan-Jun 2023 2022 2023 1. Previous year adjusted (IFRS 17) 12. Before special items I 3. Passenger Cars = Automotive Division ./. Commercial Vehicles, Power Engineering I 4. TRATON Operations excluding Financial Services 18

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