Hardy BrenneckeExecutive Vice President and Chief Financial OfficerVolkswagen Group of America, Inc.Detroit, 15 January 2014

Deutsche Bank Global Auto Industry Conference

This presentation contains forward-looking statements and information on the business development of the Volkswagen Group. These

statements may be spoken or written and can be recognized by terms such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”,

“estimates”, “will” or words with similar meaning. These statements are based on assumptions relating to the development of the economies of

individual countries, and in particular of 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 involve a degree of risk, and the actual developments may differ

from those forecast.

Consequently, any unexpected fall in demand or economic stagnation in our key sales markets, such as in Western Europe (and especially

Germany) or in the USA, Brazil or China, will have a corresponding impact on the development of our business. The same applies in the event of

a significant shift in current exchange rates relative to the US dollar, sterling, yen, Brazilian real, Chinese renminbi and Czech koruna.

If any of these or other risks occur, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly

differ from those expressed or implied by such statements.

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 Such statements are valid on the date of publication and can be superseded.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.

DISCLAIMER

AGENDA

Sales Update

TDI Clean Diesel

Qualitative Growth

Audi in the USA

4

Volkswagen Group in the USA – Deliveries to Customers by BrandsJanuary to December 2013 vs. 2012

438,133

139,310

35,043

407,704

158,061

42,323

VolkswagenPassenger Cars

Audi Porsche Bentley Lamborghini &Bugatti

+13.5%

+20.8%

-6.9%

+31.6%

+28.0%

2,315

2,964

528 695

January to December 2012January to December 2013

0

100,000

200,000

300,000

400,000

500,000

600,000

2013: 2nd year of sales over 400,000 units since 1973

+91% since2009

US SALES OF THE VOLKSWAGEN BRAND HAVE CLOSE TO DOUBLED SINCE 2009Top US Sales Year: 1968 (569,292)

40-Year High

US MARKET: LONG TERM GROWTH OPPORTUNITY

Market environment - key drivers

• Product Offerings and Brand Growth

• Quality and Customer Experience

• Dealer Network and CPO / Fleet

12.6%

15.8%

8.4%

2.6%

4.7%

WesternEurope

China Global U.S. incl.LCVs

U.S. carsonly

Volkswagen Brand Market Share

1) January – September 20132) Passenger cars3) January – December 2013

1,2

1,2 1,2

3 3

SALES QUALITY AND COMPOSITION

Jetta, 35%

Passat, 27%

Beetle, 11%

Golf, 8%

Tiguan, 7%

Sportwagen, 6%

CC, 4%Touareg,

2%Eos, 1%

Routan, <1%

Model Mix Volkswagen Brand in 2013Segmentation of Total Market andVolkswagen Brand Sales in 2013

PC

LCV

Total Market

Volkswagen Brand

Volume Change vs. 2013

Volume Change vs. 2013

+4.9%

+10.5%

-4.7%

-23.5%

Source: Autodata

Total

7.8m 40.3k

7.8m 367.4k

+7.6% -6.9%15.6m 407.7k

AGENDA

Sales Update

TDI Clean Diesel

Qualitative Growth

Audi in the USA

CERTIFIED PRE-OWNED SALES DEVELOPMENT

2007 2008 2009 2010 2011 2012 2013523 535 531

574589 601

645

5units per Dealer

~12units per dealer/month

2,775 3,0263,657

4,599

6,0817,182

7,802Average Monthly Volume

Dealers Participating

CONQUEST/DEFECTION RATIO HAS IMPROVED 50%

140,000

120,000

100,000

80,000

60,000

40,000

20,000

0

Conquest Defection C/D Ratio 1.6

0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

.8

1.1

1.3 1.31.4

1.5

2007 2008 2009 2010 2011 2012

Source: POLK/IHS

VOLKSWAGEN BRAND LOYALTY HIGHEST IN SIX YEARS

50%

45%

40%

35%

30%

25%

Bra

nd L

oyal

ty

2007 2008 2009 2010 2011 2012

Volkswagen Segment Industry

16%8% 7%

6% 3%2%

Source: POLK/IHS

VOLKSWAGEN IQS PERFORMANCE SHOWS CONTINUAL IMPROVEMENT

130

120

110

100

90

802010 2011 2012 2013

Volkswagen Segment Industry

2824

22 8

140

2013 SSI Survey: Volkswagen leads Toyota, Honda and Nissan and only trails Chevrolet among the high volume brands

2012 2013Rank Rank

*Small sample size Significantly higher at 90% significance level.**Insufficient sample Significantly lower at 90% significance level.

Change from2012

718694686686

677677674672672

662661661656656653649

638630626

621

N/A

666

12335578810111113131516171819

N/A

N/A

12531194810147161151315192016

18

N/A

MINIBuick

ChevroletGMC

HyundaiVolkswagen

FiatHondaToyotaNissanFordKia

ScionSubaruMazda

ChryslerDodgeJeepRam

Mitsubishi*

smart**

Non‐Premium

6(12)1032712(5)61816(8)336

(20)6141712(2)

(3)

N/A

9

400 500 600 700 800

Index Score

GTI

Golf

e-Golf

SportWagen

Jetta GP

Touareg GP

Market Launches

SIX ALL-NEW MODELS LAUNCHING IN 2014

Press Launches

AGENDA

Sales Update

TDI Clean Diesel

Qualitative Growth

Audi in the USA

TDI CLEAN DIESEL SUCCESS

The Volkswagen Group represents over 75% of all US diesel passenger cars and LCVs delivered in the US in 2013.

Volkswagen Brand delivered an all-time record of 95,823 TDI vehicles in 2013 (+6.1% vs. 2012), representing a diesel mix of 23.5%.

More than 500,000 Volkswagen Brand diesel vehicles delivered since 2000.

Audi and Porsche also with new records; delivering more than 15,000 clean diesel vehicles in 2013.

Source: Hybridcars.com and Volkswagen Group of America, Inc

VolkswagenBrand

Audi

Porsche

Other

Total US Diesel Passenger Car and LCV Market by Brand, 2013

VOLKSWAGEN BRAND DIESEL MIX BY MODEL

0%

25%

50%

75%

Golf Jetta JettaSportWagen

Passat Beetle BeetleConvertible

Touareg

TDI Installation Rates by Model in 2013

29.8%

18.8%

77.2%

31.9%

11.8%14.8%

44.9%

Can you name a fun-to-drive sedan with a manual transmission that can transport five adults and their luggage comfortably while sipping fuel at the rate of 50 mpg? The answer is the Volkswagen Passat TDI – a German antonym for "range anxiety.“ - Michael Harley, AutoBlog

Source: Consumer Report / AutoBlog

REAL WORLD FUEL ECONOMY FROM CONSUMER REPORTS AND AUTOBLOG

Volkswagen of America announced on June 24, 2013 that it has set a new GUINNESS WORLD RECORDS® achievement for the “lowest fuel consumption—48 U.S. states for a non-hybrid car” category. • 77.99 mpg more than 10 mpg better than

the previous mark of 67.9 mpg• The achievement also beats the hybrid

vehicle record of 64.6 mpg by more than 13 mpg

• 8,122 miles on just 104.94 gallons of fuel

VW PASSAT TDI SETS NEW WORLD RECORD FOR FUEL ECONOMY

AGENDA

Sales Update

TDI Clean Diesel

Qualitative Growth

Audi in the USA

HISTORY OF AUDI OF AMERICAOver the past decade, Audi has achieved a significant increase in sales volume and market share in the US, while remaining well positioned for future growth.

0

50

100

150

200

250

0%

2%

4%

6%

8%

10%

12%

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Volu

me

in ‘0

00 u

nits

Shar

e of

Pre

miu

m M

arke

t

Q7

A5 Coupe

A7R8

Q5A3 Sportback

A5 Cabriolet

A4 allroad

PRODUCT LAUNCHES OF AUDI OF AMERICA

A8 TDI Audi A3 Sport Sedan

Audi Q5 TDI

2013 2014+

Audi A3 Cabriolet Audi Q3 SUV

Audi R8 PI

Audi A6 TDI

Audi A7 TDI Audi A3 e-tron

Hardy BrenneckeExecutive Vice President and Chief Financial OfficerVolkswagen Group of America, Inc.Detroit, 15 January 2014

Deutsche Bank Global Auto Industry Conference