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Ad hoc

Volkswagen AG is in advanced discussions with Porsche Automobil Holding SE regarding a potential IPO of Dr. Ing. h.c. F. Porsche AG

Volkswagen AG and Porsche Automobil Holding SE are currently in advanced discussions regarding a potential IPO of Dr. Ing. h.c. F. Porsche AG. For this purpose, Volkswagen AG and Porsche Automobil Holding SE negotiated a Framework Agreement which should form the basis for further steps in the preparation of a potential IPO of Dr. Ing. h.c. F. Porsche AG.

The conclusion of the Framework Agreement is subject to the approval of the Management Board and the Supervisory Board of Volkswagen AG. A final decision have not yet taken.

Whether a Framework Agreement is concluded and its content as well as the question if an IPO of Dr. Ing. h.c. F. Porsche is being further assessed, is currently open and depends on the approval of both parties' boards.

Rolf Woller

Head of Group Treasury and Investor Relations

The specified fuel consumption and emission data 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. 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.