Interim Report January - September 2023

Third Quarter Results 2023

On October 26, 2023 the Volkswagen Group published the results for the third quarter of 2023.

Dr. Arno Antlitz, Finance and Operations — **Arno Antlitz** CFO & COO of Volkswagen Group

Webcast

Audio Webcast and Conference Call for Investors, Analysts and Media
at 9:00 a.m. CEST hosted by

Arno Antlitz, CFO und COO

followed by Q&A Session for Investors and Analysts hosted by

Arno Antlitz, CFO und COO

followed by Q&A Session for media with

Arno Antlitz, CFO und COO

To WEBCAST

Highlights

6.7

million, +11 % vs. Q1-Q3 2022 DELIVERIES

235.1

EUR billion, +16 % vs. Q1-Q3 2022 SALES REVENUE

16.2

EUR billion, -7% vs. Q1-Q3 2022 OPERATING RESULT*

* BEFORE SPECIAL ITEMS

Volkswagen Group delivers solid nine-month results in a challenging environment; disruptions in production and higher product costs impact third quarter

Sales revenue growth of 16 percent year-to-date to 235.1 billion euros
Vehicle sales up 8 percent to 6.8 million units
Operating profit in the first nine months decreased by 7 percent to 16.2 billion euros; Operating return on sales of 6.9 percent; negative effects from product costs and manufacturing disruptions in the third quarter particularly impacted the brand group Core
Operating profit before valuation effects, in particular from commodity hedging, at 18.7 billion euros, corresponding to underlying operating return on sales of 8.0 percent, almost level with the prior year period
Electrification strategy is progressing, with deliveries of battery electric vehicles (BEV) increasing by 45 percent to 531,500 vehicles in the first nine months; BEV share of total deliveries grew to 7.9 percent in the first nine months
Order bank of 1.4 million vehicles in Western Europe at the end of Q3 remains at high level, including around 150,000 BEV
Financial outlook for fiscal year 2023 updated; operating result before special items expected to be around the level of the previous year

Press Release Interim Report January - September 2023

Volkswagen Group delivers solid nine-month results in a challenging environment

To press release

The specified fuel consumption and emission data are determined in accordance with the measurement procedures prescribed by law. 1 January 2022, the WLTP test cycle completely replaced the NEDC test cycle and therefore no NEDC values are available for new type approved vehicles after that date. This information does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO₂ emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Due to more realistic testing conditions, fuel consumption and CO₂ emissions measured according to WLTP will in many cases be higher than the values measured according to NEDC. As a result, the taxation of vehicles may change accordingly as of 1 September 2018. For further information on the differences between WLTP and NEDC, please visit www.volkswagen.de/wltp. Further information on official fuel consumption data and official specific CO₂ emissions for new passenger cars can be found in the "Guide to fuel economy, CO₂ emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at www.dat.de/co2.