Report of the Supervisory Board

(in accordance with section 171(2) of the AktG)

Ladies and Gentlemen,

In fiscal year 2012, the Supervisory Board of Volkswagen AG addressed the Company’s position and development regularly and in detail. We supported the Board of Management in its running of the business and advised it on issues relating to the management of the Company, in compliance with the legal requirements and the suggestions and recommendations of the German Corporate Governance Code. The Supervisory Board was directly involved in all decisions of fundamental importance to the Group. In addition, we discussed current strategic considerations with the Board of Management at regular intervals.

The Board of Management reported to the Supervisory Board regularly, promptly and comprehensively in both written and oral form on the development of the business and the Company’s planning and position, including the risk situation and risk management. This also applied to all key questions in connection with the creation of the integrated automotive group with Porsche and to the Company’s restructuring at an organizational and management level. In addition, the Board of Management informed us on an ongoing basis of compliance-related topics and other topical issues. In all cases we received the documents relevant to our decisions in good time for our meetings. The Supervisory Board received a detailed monthly report from the Board of Management on the current business position and the forecast for the current year. Any variances in performance as against the plans and targets previously drawn up were explained by the Board of Management in detail, either orally or in writing. We analyzed the reasons for the variances together with the Board of Management so that countermeasures could then be derived from this.

In addition, the Chairman of the Supervisory Board held regular discussions with the Chairman of the Board of Management in the periods between the meetings; among other things, the matters discussed included the Volkswagen Group’s strategy, business development and risk management.

The Supervisory Board held a total of six meetings in fiscal year 2012. All Supervisory Board members attended more than half of the meetings; the average attendance rate was 94%. In addition, resolutions on urgent matters were adopted in writing or using electronic communications media.

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