Slides
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Volkswagen AG Investor, Analyst and Media Call 9M/2026 October 29th, 2026
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The following presentations as well as remarks/comments and explanations in this context contain forward- looking statements on the business development of the Volkswagen Group. These statements are based on assumptions relating to the development of the economic, political and legal environment in individual countries, economic regions and markets, and in particular for the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of going to press. The estimates given entail a degree of risk, and actual developments may differ from those forecast. All figures are rounded, so minor discrepancies may arise from addition of these amounts. Any changes in significant parameters relating to our key sales markets, or any significant shifts in exchange rates, energy and other commodities or the supply with parts relevant to the Volkswagen Group will have a corresponding effect on the development of our business. In addition, there may also be departures from our expected business development if the assessments of the factors influencing sustainable value enhancement and of risks and opportunities presented develop in a way other than we are currently expecting, or if additional risks and opportunities or other factors emerge that affect the development of our business. We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superseded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities. 2 Disclaimer
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2 9M Financials Volkswagen Group 1 9M Operational Performance
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4 Electric Urban Car Family: Successful launch with around 150k orders already received Investment Portfolio: Further progress achieved in portfolio management NEW Atlas: Start of production of the next generation in the U.S. PowerCo & Gotion: Deepening the strategic battery partnership Supervisory Board approval of Group Target Picture 2030: Implementation started Volkswagen Group Key Developments in Q3 2026 NEW Audi Q9: Strengthening our premium position in the SUV segment in the US
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51% 49% ~30 GWh/a LFP Valencia 49% 51% ~10 GWh/a LFP Šurany 49% 51% ~100k t/a LFP CAM Kenitra PowerCo and Gotion deepen strategic partnership Agreement between PowerCo and Gotion on joint LFP cell and CAM1 production for Europe Strong strategic value • Access to leading battery technology & industrialization expertise • Diversified access to key battery materials • Secure accelerated ramp-up of series production • Sharing investments and industrial responsibilities JV JV JV 1. Lithium Ferrum (Iron) Phosphate cells (LFP), Cathode Active Material (CAM) Securing battery value chain and ramp-up for Europe 5
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Audi plans to establish U.S. production site in Georgia with ~200k units capacity from early 2030s Audi targeting local manufacturing of premium SUVs tailored to North American customers Complementing capacities at Chattanooga (Volkswagen) and Blythewood sites (Scout, under construction) Tariff burden totaled € 2.1bn YTD, of which 34% were incurred by BGP Creating targeted and resilient local-for-local US footprint 6 Target picture: >60% units locally produced in US U.S. hub for exports Local portfolio & products Resilient setup towards tariffs Imports from Mexico & Europe Blythewood, SC Georgia (planned) Operational Under construction Planned St. Thomas, Ontario Puebla, Mexico San José Chiapa, Mexico Chattanooga, TN
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North America Europe1 China South America 9M 2025 9M 2026 -4.0% Q3: -5.8% +1.7% Q3: -2.3% +4.3% Q3: -2.4% 7 Deliveries below prior-year levels in key regions, China significantly lower in weak market Volkswagen Group Deliveries by Region 9M 2025 9M 2026 9M 2025 9M 2026 1. EU 27+4. -30.2% Q3: -38.5% 9M 2025 9M 2026 -9.0% Q3: -14.3% 9M 2025 9M 2026 World
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718 679 9M 2025 9M 2026 Top BEV Models 9M 2026 8 Annual Development BEV Deliveries Elroq 92k 10.9% 18.2% 11.3% 20.0% BEV share EU27+4 [%] BEV share global [%] 299 368 PHEV & EREV Deliveries Q6 e-tron 50k Volkswagen Group 9M BEV & PHEV Deliveries Strong BEV growth in Europe partially compensated market pressure in China & North America ID.4/5 82k ID.7 47k ID.3 61k Enyaq 73k [k vehicles]
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Volkswagen Group Order Situation 9 European1 order book up 11% year-to-date, order book reach at ~3 months Order book Order intake [k vehicles] [k vehicles] 950 1,054 +11% 2,912 3,025 +4% 1. EU 27+4. Jan - Sep 2025 Jan - Sep 2026 Dec 2025 Sep 2026 launched in July BEV order intake up 39% year-to-date
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BEVs accounting for ~40% of the European order book Share almost doubled since 2024 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 Mar 26 Jun 26 Sep 26 40% Note: 2024–2025 data are Western Europe; from 2026 the reported scope is EU27+4. Values are rounded as stated in the source documents. BEV share in European order book [% of total order book] BEV share strongly up to 40% as per September 2026, up 18ppt since 12/2025 BEV order momentum supported in particular by the Electric Urban Car Family with around 150k orders 10 15%
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1 9M Operational Performance 2 9M Financials Volkswagen Group
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Vehicle Sales Sales Revenue Operating Result & Margin [m vehicles] [€ bn] [€ bn] Margin [%] 12 4.7 4.7 ex China JVs -1 % YoY 6.6 5.9 -11% 238.7 233.4 -2% 5.4 0.1 -99% 2.3% 0.0% Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Financial Overview 9M operating result impacted by significant special effects and soft China business
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13 € 8.7bn negative special effects impacting 9M 2026 results, of which € 7.8bn in Q3 Operating Result and Profitability 9M 2026 Operating Result & Margin [Margin in %, Operating Result in € bn] Operating Result as reported Operating Result before special effects € 7.8bn special effects in Q3 € 6.4bn Porsche goodwill impairment € 1.0bn impairment of fully consolidated China assets € 0.3bn restructuring and other write-offs 0.0% 3.8% € 8.8bn € 0.1bn FY Outlook up to 1% (reported) ~4% (excl. special effects) Special effects in 9M 2026 € 0.9bn booked in H1 (ID.4 EOP in U.S., net restructuring and end of Bosch cooperation)
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14 Profit after Tax below prior year due to special effects booked in Q3 Profit before Tax [€ bn] 6.1 0.5 -91% 7.06 -4.07 n/a Profit Before and After Tax 3.4 -2.7 n/a Profit after Tax [€ bn] Earnings per Preferred Share [€] Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026
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15 1.8 4.4 +2.6 3.5 3.9 +0.3 Rep. Net Cash Flow1 'Clean' Net Cash Flow1, 2 Net Liquidity1 1. Automotive Division original. | 2. Before Diesel and M&A. 34.5 33.0 -1.5 [€ bn] [€ bn] [€ bn] Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Automotive Net Cash Flow and Net Liquidity Reduced investments and portfolio measures support Net Cash Flow 31 Dec 2025 30 Sep 2026 Incl. -0.5 special contribution to pensions funding
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16 31 Dec 2025 +3.5 Operating Business2 Dividend of Chinese JVs Other3 30 Sep 2026 Hybrid Capital -1.7 Dividends paid and interests paid to Hybrid Bond Holders -3.4 -0.8 +0.3 33.0 +0.6 M&A 34.5 1. Automotive Division original. | 2. Including diesel payments. | 3. Including effects from leasing, FX and valuation. Automotive Net Liquidity Net liquidity remains at solid level despite hybrid bond redemption, Rivian payment and dividend of which: Bugatti +0.9 Rivian -0.9 Sinotruk +0.7 Reported Net Cash Flow (+€ 4.4bn)1
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17 2.2 -2.6 n/a 1.7 1.7 -2% 3.1 3.0 -3% 1. Automotive Division original. Automotive Division1 Financial Services Division Passenger Cars Operating Result [€ bn] Margin [%] Commercial Vehicles Operating Result [€ bn] Margin [%] Financial Services Operating Result [€ bn] Margin [%] 1.2% Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 Jan-Sep 2025 Jan-Sep 2026 -1.5% 5.4% 5.2% 6.5% 5.9% Operating Result by Division Passenger Cars significantly burdened by special effects – solid operating performance in Commercial Vehicles and Financial Services despite dynamic environment
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Operating Result [€ bn] Margin [%] 18 Jan-Sep 2025 -3.4 Volume & other / Mix / Price -0.4 Product Costs +0.7 Exchange Rates / Derivatives +1.4 Fixed Costs / Other Costs (excl. Special Effects) -3.1 Net Special Effects2 Jan-Sep 2026 2.2 -2.6 Volume & other: -1.1 Mix: -1.8 Price: -0.6 Tariffs1: +0.1 Overhead cost: +0.6 Other: +0.8 1.2% -1.5% Passenger Cars and Light Commercial Vehicles Volume drags, mix suffers from BEV while fix cost work masked by special effects 1. Tariff effect excluding TRATON. 2. Including amongst others net YoY effects of Porsche Goodwill impairments € -3.7bn, € -1.0bn impairment of fully consolidated China assets and € -0.5bn related to ID.4 production stop in the U.S., partly compensated by € +2.3bn net YoY effect from Porsche realignment. ∑ -1.7
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19 [active2 workforce in ‘000] 14.0 101.1 31 Dec 2023 10.9 90.9 31 Dec 2025 10.1 86.4 30 Sep 2026 115.1 101.8 96.5 -19k -16% -5k (-5%) VW Sachsen & VW Osnabrück VW AG 31 Dec 2023 31 Dec 2025 30 Sep 2026 275.4 260.3 250.8 -25k -9% -10k (-4%) Volkswagen AG1 (Germany) Volkswagen Group (Germany) Headcount development [active2 workforce in ‘000] Stringent implementation of agreed workforce reduction 1. Scope Zukunft Volkswagen: Volkswagen AG, Volkswagen Sachsen GmbH, VW Osnabrück GmbH | 2. Active Workforce (excluding employees in the passive phase of partial retirement and apprentices) Volkswagen Group (Global) [active2 workforce in ‘000] 31 Dec 2023 31 Dec 2025 30 Sep 2026 654.4 628.9 614.5 -40k -6% -14k (-2%)
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20 15.7% 18.5% Overhead cost [as % of Automotive revenue] TRATON [in €bn] Passenger Cars [in €bn] 2019 2025 9M 2025 43.1 9M 2026 Overhead cost improved in absolute terms after 9M 2026, particularly driven by Passenger Cars Overhead cost ratio slightly up due to lower sales revenue 45.5 11.9 11.0 15.9% 16.1% Overhead Cost Development Automotive Division 37.9 38.3 28.3 27.7 5.2 7.2 5.5 5.4 33.8 33.1
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Net Cash Flow [€ bn] Operating Margin [%] Vehicle Sales [k units] Sales Revenue [€ bn] Operating Result [€ bn] Core 21 Sport LuxuryProgressive 3,753 (flat) 176 (-11%) 106.4 (flat) 22.1 (-7%) 4.3 (-8%) 1.5 (>+100%) 4.1% (-0.3ppts) 6.7% (+7.7ppts) 771 (-9%) 42.1 (-13%) 1.2 (-26%) 2.7% (-0.5ppts) +2.4 +2.5 9M 2026 Performance Brand Groups BGC showing resilience in dynamic market, BGP impacted by China; BGSL improving +1.4
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Operating Margin [%] Vehicle Sales [k units] Sales Revenue [€ bn] Operating Result [€ bn] Volkswagen 22 Performance Brand Group Core 9M 2026 2,239 (-2%) 62.0 (-3%) 0.8 (-45%) 1.3% (-1.0ppts) ŠKODA SEAT/CUPRA VW Comm. Veh. Group Components 899 (+3%) 23.1 (+4%) 1.9 (+7%) 8.3% (+0.3ppts) 468 (-3%) 11.1 (-1%) 0.01 (-59%) 0.1% (-0.1ppts) 320 (-1%) 12.3 (-2%) 0.5 (>100%) 3.8% (+2.0ppts) 16.6 (-3%) 1.1 (-3%) 6.5% (-0.1ppts) VW brand impacted by special effects, mix and soft China businesses; Skoda with continued strong operating performance, VW CV strongly improved year-on-year
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BatterySoftware 23 Sales Revenue [€ bn] Operating Result [€ bn] Operating Margin [%] Net Cash Flow [€ bn] 0.2 (>+100%)1.3 (+31%) -1.0 (+0.0)-1.3 (+0.2) neg (-) neg (-) -1.6 (-0.7)-1.1 (+0.2) CARIAD: Operating result benefited from higher sales, execution of transformation program and continued cost work PowerCo: Operating performance stabilized despite production ramp-up; higher invest due to construction of Valencia and St. Thomas sites 9M 2026 Performance Technology Platforms CARIAD with improved operating result, Battery stabilized despite continued ramp-up Delta to previous year figures in brackets.
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Revenue up on higher unit sales; International with strong momentum in Q3 Operating result strengthened through operational improvement, offset by tariffs, rising input costs and special effects Significantly higher Net Cash Flow due to stronger operating performance, supported by Sinotruk stake sale 24 Sales Revenue [€ bn] Operating Result [€ bn] Operating Margin [%] Net Cash Flow [€ bn] 1.7 (-2%) 5.2% (-0.2ppts) +0.8 (+1.3) 31.9 (+2%) 9M 2026 Performance Brand Group Trucks – TRATON1 Sales revenue momentum further accelerating 1. Commercial Vehicles. Delta to previous year figures in brackets.
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25 Solid development of business and margin Growth of contract volume and strong cost discipline Increased residual value risk Credit loss ratio on solid level 1. Volkswagen Financial Services Division (including TRATON FS and Porsche Holding). | 2. Calculated on basis of normalized 8% equity ratio. Delta to previous year figures in brackets. Operating Result [€ bn] Contracts [‘000 units] Credit Loss Ratio [%] Return on Equity2 [%] 3.0 (-3%) 27,850 (+1.5%) 0.41 (stable) 13.1% (+0.2 ppts) Volkswagen Financial Services1 Volkswagen Group Mobility 9M 2026 Performance Volkswagen Financial Services
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CAPEX R&D [in € bn & in % of Automotive Division sales revenue] 26 Investment spend significantly reduced y-o-y in absolute and relative terms Automotive invest ratio expected within range of 11 to 12% in FY 2026 2027-31 investment plan totaling € 135bn in-line with ~9% target ratio Focused investment spend discipline continues with further notable reduction in 9M 2026 Automotive Investment Ratio 4.4% € 9.4bn 7.0% € 14.9bn 9M 2025 FY 2026 Outlook 9M 2026 FY 2025 4.1% € 8.4bn 6.8% € 14.1bn 11 – 12% 11.4% € 24.3bn 10.9% € 22.4bn 11.8% ~9% FY 2030 Target FY 2024 13.0%
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China Joint Ventures: Proportionate Operating Result 27 Lower volumes and impairment of legacy platform overshadow strong cost work [€ m] Q1 Q2 Q3 Q4 2026 performance driven by • sharply lower volumes in weak market with fierce competition • cost related to new NEV launches with first contributions from Q3 • impairment of MEB legacy platform1 (€ 0.2bn) • intensified cost work Before impairments, proportionate operating result expected around break-even in full year 2026 234 238 214 272 FY 2025 ∑ 958 ∑ -113 (+110 before impairments) 101 -297 9M 2026 83 1. These impairments have no impact on the Volkswagen Group's financial statements, as the corresponding carrying amounts had already been reduced to zero at Group level.
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FY 2025 Financial Outlook Full Year 2026 28 Outlook FY 20261 Sales Revenue € 321.9bn € 233.4bn around € 315bn Operating Profit Margin 2.8% 0.0% up to 1% Automotive Investment Ratio2 11.8% 10.9% 11% to 12% Automotive Reported Net Cash Flow € 6.4bn € 4.4bn € 3bn to € 6bn Automotive Net Liquidity € 34.5bn € 33.0bn € 32bn to € 34bn Financial outlook 2026 based on current tariff situation, while potential future impact from further escalation in Middle East currently cannot be reliably assessed and is thus not included. It does not include effects from sale of majority stake in Everllence nor potential effects from development and implementation of Group Target Picture 2030 9M 2026 1. As announced on September 18, 2026 | 2. R&D and Capex combined.
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Upcoming Key Events 30 Virtual Post 9M Results Roadshow with CFO & COO Arno Antlitz on October 29-30, 2026 UBS European Conference, London with CFO & COO Arno Antlitz on November 11, 2026 CEO Buyside Symposium, London with CEO Oliver Blume on December 2, 2026 Goldman Sachs 18th Annual Industrials & Autos Week, London with Head of Treasury & IR Rolf Woller on December 3, 2026 Commerzbank Oddo German Investment Seminar, New York with CFO & COO Arno Antlitz on January 12, 2027 Kepler Cheuvreux German Corporate Conference, Frankfurt with Head of Treasury & IR Rolf Woller on January 19, 2027 Volkswagen Group FY 2026 Results with CEO Oliver Blume and CFO & COO Arno Antlitz on March 9, 2027
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31 Volkswagen Group Overview Quarter Change YTD Change LTM vs last FY Change in million EUR Q3 2025 Q3 2026 YoY in % 9M 2025 9M 2026 YoY in % FY2025 LTM vs FY in % Deliveries k units 2,199 1,885 -14.3 6,604 6,011 -9.0 8,984 8,390 -6.6 Unit Sales k units 2,218 1,883 -15.1 6,581 5,880 -10.6 9,022 8,322 -7.8 Unit Sales ex China JVs k units 1,577 1,515 -3.9 4,699 4,657 -0.9 6,434 6,392 -0.7 Sales Revenue € m 80,305 75,277 -6.3 238,669 233,378 -2.2 321,913 316,623 -1.6 Operating Result € m -1,299 -5,860 x 5,408 71 -98.7 8,868 3,532 -60.2 Operating Margin % -1.6% -7.8% -6.2 pp 2.3% 0.0% -2.3 pp 2.8% 1.1% -1.7 pp Special effects included in operating result1 € m -4,555 -7,760 x -5,446 -8,691 x -5,921 -9,166 x Earnings before tax € m -364 -4,230 x 6,059 544 -91.0 9,307 3,792 -59.3 Earnings after tax € m -1,072 -5,822 x 3,405 -2,720 x 6,904 780 -88.7 Profit attributable to shareholders of Volkswagen AG € m -482 -4,648 x 3,523 -2,074 x 6,673 1,076 -83.9 EPS (pref. share) € -0.96 -9.24 x 7.06 -4.07 x 13.35 2.21 -83.4 Automotive Net Cash Flow € m 3,147 1,228 -61.0 1,797 4,394 x 6,445 9,042 +40.3 Clean Automotive Net Cash Flow € m 3,363 219 -93.5 3,546 3,884 +9.5 8,300 8,639 +4.1 Automotive Net Liquidity2 € m 31,008 32,982 +6.4 31,008 32,982 +6.4 34,497 32,982 -4.4 Automotive EBITDA € m 6,392 6,631 +3.7 21,758 23,438 +7.7 32,102 33,782 +5.2 Investments in R&D and Capex € m 8,057 7,563 -6.1 24,340 22,412 -7.9 34,363 32,436 -5.6 Investment ratio % 11.4% 11.5% +0.1 pp 11.4% 10.9% -0.5 pp 11.8% 11.5% -0.3 pp 1. Special effects excluding tariffs and CO2. | 2. As per end of period.
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32 Operating Result and Margin as reported and before special effects, Q1 to Q3 2026 Volkswagen Group Operating Result Q1 2026 Q2 2026 Q3 2026 2.5 3.3 3.5 3.6 -5.9 1.9 1. Includes cost related to Porsche realignment, Porsche goodwill impairment, personnel related net restructuring expenses and cost related to diesel. Operating Result & Margin [€ bn] Margin [%] 4.3%3.3% 4.3%4.2% 2.5%-7.8% Operating Result Operating Result before special effects
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Group Components Brand Group Core Volkswagen Brand Škoda SEAT/CUPRA VW Commercial Vehicles 1. Adjusted for cost related to restructuring, ID.4 production stop in U.S. and sale of Osnabrueck plant. 33 9M 26 (reported) 4.1% 1.3% 8.3% 0.1% 3.8% 6.5% Last 4 quarters trend excl. special effects1 4.9% 2.6% 9M 2026 Performance Brand Group Core Škoda with continued strong performance, VW brand below expectations
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1. Porsche (including Financial Services): sales revenue € 8,400 (8,858) million, operating result € 595 (762) million. I 2. The sales revenue and operating result of the equity-accounted companies in China are not included in the consolidated figures; theshare of the operating result generated by these companies amounted to € 83 (272) million I 3. In the operating result, mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of purchase priceallocation, as well as companies not allocated to the brands. | 4. Automotive Division original. VEHICLE SALES (`000) SALES REVENUE (€ m) OPERATING RESULT (€ m) OPERATING MARGIN (%) Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Brand Group Core 1,227 1,224 34,874 35,340 1,541 1,118 4.4 3.2 Volkswagen Passenger Cars 716 726 19,897 21,226 73 112 0.4 0.5 ŠKODA 315 276 7,921 7,259 660 546 8.3 7.5 CUPRA/SEAT 156 158 3,677 3,895 43 5 1.2 0.1 Volkswagen Commercial Vehicles 99 109 3,922 4,138 154 37 3.9 0.9 Group Technology - - 6,211 5,972 562 387 9.0 6.5 Consolidation -59 -46 -6,753 -7,149 49 32 - - Brand Group Progressive (Audi Group) 260 277 14,178 15,431 588 537 4.2 3.5 Brand Group Sport Luxury (Porsche Automotive)1 59 65 7,381 7,819 517 678 7.0 8.7 CARIAD - - 389 237 -420 -755 - - Battery - - 12 2 -230 -213 - - Brand Group Trucks 69 73 9,780 10,326 40 640 0.4 6.2 At equity accounted companies in China2 494 610 - - - - - - Volkswagen Group Mobility - - 15,831 14,866 868 948 5.5 6.4 Other3 -155 -149 -6,788 -6,464 -441 -81 - - Volkswagen Group 1,954 2,100 75,657 77,558 2,463 2,873 3.3 3.7 thereof: Automotive Division4 - - 66,267 68,764 1,813 1,748 2.7 2.5 Financial Services Division - - 16,989 15,903 971 1,051 5.7 6.6 Consolidation - - -7,598 -7,109 -321 74 -4.2 1.0 34 Volkswagen Group Q1
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1. Porsche (including Financial Services): sales revenue € 8,899 (9,299) million, operating result € 753 (245) million. I 2. The sales revenue and operating result of the equity-accounted companies in China are not included in the consolidated figures; theshare of the operating result generated by these companies amounted to € 101 (234) million I 3. In the operating result, mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of purchase priceallocation, as well as companies not allocated to the brands. | 4. Automotive Division original. VEHICLE SALES (`000) SALES REVENUE (€ m) OPERATING RESULT (€ m) OPERATING MARGIN (%) Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Brand Group Core 1,364 1,303 38,161 37,140 2,070 2,337 5.4 6.3 Volkswagen Passenger Cars 814 795 22,407 22,222 922 991 4.1 4.5 ŠKODA 315 306 8,094 7,811 706 739 8.7 9.5 CUPRA/SEAT 173 164 4,018 3,704 79 33 2.0 0.9 Volkswagen Commercial Vehicles 117 116 4,316 4,561 120 170 2.8 3.7 Group Technology - - 5,675 5,937 283 364 5.0 6.1 Consolidation -54 -77 -6,350 -7,094 -40 40 - - Brand Group Progressive (Audi Group) 268 297 14,999 17,142 533 550 3.6 3.2 Brand Group Sport Luxury (Porsche Automotive)1 62 70 7,777 8,319 692 154 8.9 1.9 CARIAD - - 426 327 -435 -417 - - Battery - - 76 9 -242 -379 - - Brand Group Trucks 83 80 11,310 10,869 902 605 8.0 5.6 At equity accounted companies in China2 362 632 - - - - - - Volkswagen Group Mobility - - 15,743 14,496 805 863 5.1 6.0 Other3 -94 -119 -6,048 -7,495 -855 121 - - Volkswagen Group 2,043 2,263 82,444 80,806 3,469 3,834 4.2 4.7 thereof: Automotive Division4 2,043 2,262 73,466 73,966 2,926 3,021 4.0 4.1 Financial Services Division - - 16,973 15,568 898 860 5.3 5.5 Consolidation - 1 -7,994 -8,728 -355 -47 -4.4 -0.5 35 Volkswagen Group Q2
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1. Porsche (including Financial Services): sales revenue € 8,053 (8,707) million, operating result € 387 (-967) million. I 2. The sales revenue and operating result of the equity-accounted companies in China are not included in the consolidated figures; the share of the operating result generated by these companies amounted to € - 297 (238) million I 3. In the operating result, mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of purchase price allocation, as well as companies not allocated to the brands. | 4. Automotive Division original. VEHICLE SALES (`000) SALES REVENUE (€ m) OPERATING RESULT (€ m) OPERATING MARGIN (%) Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Q3 2025 Brand Group Core 1,162 1,244 33,382 34,470 715 1,263 2.1 3.7 Volkswagen Passenger Cars 710 758 19,649 20,363 -181 373 -0.9 1.8 ŠKODA 270 288 7,117 7,272 557 505 7.8 6.9 CUPRA/SEAT 139 159 3,414 3,642 -116 -22 -3.4 -0.6 Volkswagen Commercial Vehicles 104 99 4,046 3,841 190 13 4.7 0.4 Group Technology - - 4,729 5,139 229 363 4.9 7.1 Consolidation -60 -59 -5,572 -5,787 36 32 - - Brand Group Progressive (Audi Group) 243 275 12,886 15,807 29 468 0.2 3.0 Brand Group Sport Luxury (Porsche Automotive)1 56 63 6,984 7,696 285 -1,060 4.1 -13.8 CARIAD - - 443 396 -461 -328 - - Battery - - 148 15 -576 -462 - - Brand Group Trucks 79 72 10,854 9,993 713 440 6.6 4.4 At equity accounted companies in China2 368 640 - - - - -- Volkswagen Group Mobility - - 16,020 14,777 1,020 1,082 6.4 7.3 Other3 -25 -76 -5,440 -2,850 -7,585 -2,703 -136.5 -91.3 Volkswagen Group 1,883 2,218 75,277 80,305 -5,860 -1,299 -7.8 -1.6 thereof: Automotive Division4 1,883 2,218 65,885 70,402 -6,711 -2,554 -10.2 -3.6 Financial Services Division - - 17,290 15,867 1,135 1,186 6.6 7.5 Consolidation 0 0 -7,898 -5,965 -284 69 -3.6 1.2 36 Volkswagen Group Q3
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1. Porsche (including Financial Services): sales revenue € 25,282 (26,864) million, operating result € 1,735 (40) million. I 2. The sales revenue and operating result of the equity-accounted companies in China are not included in the consolidated figures; the share of the operating result generated by these companies amounted to € -113 (744) million I 3. In the operating result, mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of purchase price allocation, as well as companies not allocated to the brands. | 4. Automotive Division original. VEHICLE SALES (`000) SALES REVENUE (€ m) OPERATING RESULT (€ m) OPERATING MARGIN (%) 9M 2026 9M 2025 9M 2026 9M 2025 9M 2026 9M 2025 9M 2026 9M 2025 Brand Group Core 3,753 3,771 106,417 106,950 4,326 4,719 4.1 4.4 Volkswagen Passenger Cars 2,239 2,279 61,953 63,811 813 1,476 1.3 2.3 ŠKODA 899 870 23,132 22,342 1,923 1,790 8.3 8.0 CUPRA/SEAT 468 481 11,109 11,241 6 16 0.1 0.1 Volkswagen Commercial Vehicles 320 324 12,284 12,539 465 220 3.8 1.8 Group Technology 16,614 17,048 1,075 1,114 6.5 6.5 Consolidation -174 -182 -18,675 -20,030 45 104 Brand Group Progressive (Audi Group) 771 848 42,063 48,380 1,150 1,555 2.7 3.2 Brand Group Sport Luxury (Porsche Automotive)1 176 198 22,143 23,833 1,493 -228 6.7 -1.0 CARIAD 1,257 960 -1,316 -1,500 Battery 237 26 -1,049 -1,054 Brand Group Trucks 231 225 31,943 31,188 1,655 1,685 5.2 5.4 At equity accounted companies in China2 1,224 1,882 Volkswagen Group Mobility 47,594 44,140 2,693 2,893 5.7 6.6 Other3 -274 -344 -18,276 -16,810 -8,881 -2,662 -46.4 -14.1 Volkswagen Group 5,880 6,581 233,378 238,669 71 5,408 0.0 2.3 thereof: Automotive Division4 5,880 6,581 205,617 213,132 -1,972 2,216 -1.0 1.0 Financial Services Division 51,251 47,339 3,004 3,096 5.9 6.5 Consolidation -0 0 -23,490 -21,802 -960 96 -4.1 0.4 37 Volkswagen Group 9M
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Model Electric range combined (WLTP) CO2 emissions combined (WLTP) Electrical consumption combined (WLTP) Fuel consumption combined (WLTP) VW Golf R 8.1 – 8.5 l/100km n/a 184 -193 g/km n/a Golf 8 GTI 7.3 – 7.1 l/100km n/a 167 -162 g/km n/a ID.3 Neo n/a 14.3-15.7 kWh/100km n/a up to 629km ID.3 Pro S n/a 14,9 kWh/100km n/a 402 – 575km ID.4 Pro n/a 17.5-16.1 kWh/100km n/a 395 – 545km ID. Tiguan Life 16,1 - 14,6 kWh/100 km n/a up to 607km ID.7 Pro n/a 16.1 – 14.0 kWh/100km n/a up to 618km ID.7 GTX n/a 18.8 – 16.6 kWh/100km n/a up to 584km ID. Buzz Pro n/a 20.5-21.7 kWh/100km n/a 420 – 461km ID. Buzz GTX n/a 21.6 – 20.5 kWh/100km n/a 402 – 423km ID. Buzz LWB Pro n/a 21.2 – 19.5 kWh/100km n/a up to 487km Caravelle 7.9 – 7.2 l/100km n/a 207 – 188 g/km Passat R eHybrid 5.6 - 6.0 l/100km 17,5-16,6 kWh/100km plus 0,5- 0,4 l/100km 9 g/km up to 118km ID. UNYX 07, 08, 09, ID. AURA T6, ID. ERA 5s, 9x, New Atlas, Atlas X- Sport These vehicles are not offered for sale in Europe or are not for sale yet and therefore not subjective to Directive 1999/94/EC. Tayron R Line Hybrid 1.7 – 1.9 l/100km 14.0 – 15.0 kWh/100km 38 – 42 g/km up to 116km T-Roc 5,6-5,0 l/100 km 127-115 g/km ID. Polo n/a 14,5 - 13,3 kWh/100km n/a Up to 454km Mission Efficiency The vehicle is not offered for sale and is therefore not subject to Directive 1999/94/EC. Consumption and emission data under review. Range / consumptions / emissions
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Škoda Vision O The vehicle is not offered for sale and is therefore not subject to Directive 1999/94/EC. Consumption and emission data under review. Enyaq Laurin & Klement 85 n/a 15.7 - 20.3 kWh/100km n/a 565 – 589km Enyaq Sportline n/a 15.8 – 16.6 kWh/100km n/a 410 – 428km Elroq 85 n/a 15,2 – 16,6 kWh/100km n/a 540 – 580km Epiq n/a 13,9 kWh/100km n/a ~435km Model Electric range combined (WLTP) CO2 emissions combined (WLTP) Electrical consumption combined (WLTP) Fuel consumption combined (WLTP) Porsche Macan S n/a 21,1 - 17,9 kWh/100km n/a 516 - 613km Taycan Turbo S n/a 18.8-16.6 kWh/100km n/a 558 - 630km Panamera 4S E-Hybrid 10.4 – 9.3 l/100km 28.6 – 26.0 kWh/100km 33 -24 g/km 83 – 91km Porsche Taycan GTS Sport Turismo n/a 24.1 – 21.0 kWh/100km n/a 424 – 490km Taycan 4 n/a 20.6 – 17.6 kWh/100km n/a 478 – 559km Porsche 911 Carrera 10,7 – 10,1 l/100km n/a 244 – 230 g/km n/a Porsche GT3 14,6 – 13,4 l/100km n/a 312 – 310 g/km Range / consumptions / emissions
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Bentley Continental GT Speed 10.3 l/100 km 28.1 kWh/100km 29 g/km n/a Bentayga Speed 14.7 l/100 km n/a 335 g/km n/a Model Electric range combined (WLTP) CO2 emissions combined (WLTP) Electrical consumption combined (WLTP) Fuel consumption combined (WLTP) Lamborghini Revuelto 11,86 l/100km n/a 276 g/km n/a Urus S 14.1 l/100km n/a 320 g/km n/a Urus SE 2,08 l/100km 39,5 kWh/100 Km 51 g/km n/a Temerario The vehicle is not yet offered for sale and is therefore not subject to Directive 1999/94/EC. Consumption and emission data under review. Seat / Cupra Born n/a 14.9 – 16.7 kWh/100km n/a up to 594km Tavascan VZ 250 kW 77kWh n/a 16.6 kWh/100km n/a up to 522km Terramar VZ 1.5 e-HYBRID 200 kW 0,4-0,5 l/100 km 7,6-19,0 kWh/100 km 10-12 g/km n/a Raval VZ Extreme n/a 16.1 kWh/100km n/a up to 381km Range / consumptions / emissions Bugatti CHIRON 25.2 l/100 km n/a 572 g/km n/a
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Model Electric range combined (WLTP) CO2 emissions combined (WLTP) Electrical consumption combined (WLTP) Fuel consumption combined (WLTP) Audi A5 7.7 – 4.8 l/100km n/a 176 – 125 g/km n/a Nuvolari 11.3l /100km 7.8 kWh (preliminary) 270 g/km Q4 e-tron 55 n/a 16.8 – 19.5 kWh/100km n/a 449 - 523km Q5 7.9–5.9 l/100km n/a 180–148 g/km n/a Q6L e-tron The vehicle is not offered for sale in Europe. Q7 TDI quattro 180 kW 7,8–7,1 l/100 km n/a 205–186 g/km n/a Q9 220kW 8,0–7,4 l/100 km n/a 209–194 g/km n/a Q8 55 e-tron n/a 20.6 – 24.4 kWh/100km n/a 460 - 595km S5 Avant 7.5-7.9 l/100km n/a 169-180 g/km n/a A6L e-tron The vehicle is not offered for sale in Europe. AUDI E7X The vehicle is not offered for sale in Europe. Jetta (China) Jetta X The vehicle is not offered for sale in Europe. Scout Terra Vehicle is not yet offered for sale & is therefore not subject to Directive 1999/94/EC. Consumption & emission data under review. Traveler Vehicle is not yet offered for sale & is therefore not subject to Directive 1999/94/EC. Consumption & emission data under review. Range / consumptions / emissions
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