Investor Relations activities

International analysts and investors maintained their level of interest in the business development of the Volkswagen Group during the past fiscal year. The Investor Relations team provided extensive information at more than 650 roadshows, conferences and one-on-one discussions at all key financial centers worldwide about the strategic focus, current business performance and future prospects of the Volkswagen Group and its brands. Many of these discussions involved a direct exchange of ideas between capital market participants and members of the Board of Management and Group senior executives.

The Investor Relations team has made the focus of its activities even more international. In addition to the existing sites in Wolfsburg, London and Herndon, an investor relations office was opened in Beijing at the beginning of 2012 to cope with the sharp rise in interest among international capital market participants in the Chinese operations of the Volkswagen Group, as well as the growing significance of investors in the region.

The Investor Relations team also briefed Volkswagen’s private shareholders on the Company’s development at numerous events and was available to answer questions in many personal discussions; among other things, it had its own stand at the Annual General Meeting. As in previous years, Investor Relations also provided support for Group Treasury’s extensive capital market activities.

Investors and analysts were supplied with the latest news and publications not only through direct dialog, but also online. Our website recorded 3.4 million hits, around 18% more than in 2011, which underlines the importance

of digital media as an information channel for investors. This is the reason the Annual Media and Investor Conference held in March 2012, the shareholder meetings and the conference calls of the Volkswagen Group on the quarterly results for 2012 were additionally broadcast live on the Internet.

We also promptly published all presentations given in connection with events that were relevant for investors online on our investor relations website at www.volkswagenag.com/ir.

HIGHLIGHTS IN THE INVESTOR RELATIONS CALENDAR

At the Annual Media and Investor Conference, which was held in Wolfsburg on March 12, 2012, the Group’s Board of Management looked back on a successful fiscal year in 2011 and gave its outlook for the Company and the industry. One week before, on March 5, in the Audi forum at Munich airport, members of the Board of Management of AUDI AG presented analysts and investors with information on the premium brand’s performance and strategy.

July 4, 2012 was another high point in the investor relations calendar. On this day, Volkswagen AG and Porsche Automobil Holding SE announced the creation of the integrated automotive group through the contribution in full of Porsche’s automotive business to the Volkswagen Group, with the move already expected to take effect as of August 1, 2012. At a conference call the next day, CFO Hans Dieter Pötsch explained the details of this transaction to analysts and investors and outlined the strategic importance and the advantages of accelerated integration of the sports car manufacturer.