The investigation launched in fiscal year 2010 by the UK Office of Fair Trading (OFT) into Volkswagen subsidiaries Scania and MAN SE was discontinued in fiscal year 2011 and forwarded to the European Commission. The investigations by the European Commission into MAN Truck & Bus AG and MAN Diesel & Turbo SE launched in fiscal year 2011 due to a suspected possible antitrust violation in the engines business were discontinued in fiscal year 2012. The investigation into Scania and MAN launched by the European Commission in fiscal year 2011 concerning alleged inappropriate exchange of information is continuing. Additionally, in fiscal years 2011/2012, the South Korean antitrust authorities conducted investigations at MAN Truck & Bus (Korea) Limited, Seoul/South Korea, and at the Scania-owned import company in South Korea. Such investigations normally take several years. It is still too early to judge whether these investigations pose any risk to Scania or MAN.

Based on indications of irregularities in the course of the handover of four-stroke marine diesel engines by MAN Diesel & Turbo SE, MAN SE's Executive Board launched an investigation by MAN SE's Compliance department and external advisers. This investigation has shown that it was possible to externally manipulate the technically calculated fuel consumption figures of four-stroke marine diesel engines on test beds operated by MAN Diesel & Turbo SE (formerly: MAN Diesel SE) such that the figures displayed differed from the actual test results. MAN informed the Munich Public Prosecution Office I about the investigation. The matter was transferred to the Augsburg Public Prosecution Office at the end of 2011 and is still ongoing.

In the course of their operating activities, Volkswagen AG and the companies in which it is directly or indirectly invested also become involved in legal disputes and official proceedings in Germany and internationally. In particular, such proceedings may occur in relation to suppliers, dealers, customers, employees, or investors.

For the companies involved, these may result in payment or other obligations. Particularly in cases where US customers assert claims for vehicle defects individually or by way of a class action, highly cost-intensive measures may have to be taken and substantial compensation or punitive damages paid. Corresponding risks also result from US patent infringement proceedings.

Where transparent and economically viable, adequate insurance cover is taken out for these risks and appropriate provisions recognized for the remaining identifiable risks. The Company does not believe, therefore, that these risks will have a sustained effect on the economic position of the Group.

However, as some risks cannot be assessed or can only be assessed to a limited extent, the possibility of loss or damage not being covered by the insured amounts and provisions cannot be ruled out.

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