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Credit ratings conducted on a regular basis by Standard & Poor's Ratings Services and Moody's provide our investors with additional transparency.

Long term rating of the VOLKSWAGEN AG

S&P
Long term deposits: A-
Outlook: Stable

Moody's
Long term deposits: A3
Outlook: Positive

Short term rating of the VOLKSWAGEN AG

S&P
Short term deposits: A-2

Moody's
Short term deposits: Prime-2

Volkswagen Financial Services AG

Financial Services AG has an individual rating which at present is the same as that of Volkswagen AG.

S&P
Short term deposits: A-2
Long term deposits: A-
Outlook: Stable

Moody's
Short term deposits: Prime-2
Long term deposits: A3
Outlook: Positive

VW Bank GmbH

The VW Bank GmbH has an individual rating.

S&P
Short term deposits: A-2
Long term deposits: A-
Outlook: Stable

Moody's
Short term deposits: Prime-2
Long term deposits: A3
Outlook: Positive

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Moody's Release on Volkswagen AG: PDF, as of 26 April 2012, 6 Pages, 72 KB
S&P Release on Volkswagen AG: PDF, as of 6 January 2012, 5 Pages, 425 KB
S&P Release on Volkswagen Financial Services AG: PDF, as of 8 December 2011, 7 Pages, 429 KB
S&P Release on Volkswagen Bank GmbH: PDF, as of 8 December 2011, 7 Pages, 429 KB
S&P Release on Volkswagen Financial Services AG: PDF, as of 7 November 2011, 11 Pages, 492 KB
S&P Release on Volkswagen Bank GmbH: PDF, as of 7 November 2011, 11 Pages, 493 KB
DBRS Release on Volkswagen AG: PDF, as of 6 October 2011, 11 Pages, 191 KB
Moody's Release on Volkswagen Bank GmbH: PDF, as of 9 September 2011, 3 Pages, 54 KB
Moody's Release on Volkswagen AG: PDF, as of 7 September 2011, 5 Pages, 68 KB
Moody's Release on Volkswagen AG: PDF, as of 30 August 2011, 3 Pages, 53 KB
S&P Release on Volkswagen AG: PDF, as of 2 August 2011, 6 Pages, 428 KB
S&P Release on Volkswagen AG: PDF, as of 6 December 2010, 14 Pages, 566 KB
Moody's Release on Volkswagen Financial Services AG: PDF, as of 25 October 2010, 2 Pages, 41 KB
Moody's Release on Volkswagen Bank GmbH: PDF, as of 11 October 2010, 8 Pages, 95 KB
S&P release on Volkswagen Financial Services AG: PDF, dated 01 October 2010, 10 Pages, 488 KB
S&P Release on Volkswagen Bank GmbH: PDF, as of 28 February 2010, 5 Pages, 363 KB
Moody's Release on Volkswagen Bank GmbH: PDF, as of 17 February 2010, 7 Pages, 74 KB
Moody's release on Volkswagen Group: PDF, as of 8 May 2009, 4 Pages, 64 KB
S&P Release on Volkswagen Bank GmbH: PDF, as of 21 November 2008, 4 Pages, 419 KB