POTENTIAL FURTHER DEVELOPMENT IN THE MANAGEMENT STRUCTURE IN THE VOLKSWAGEN GROUP AND POTENTIAL PERSONNEL CHANGES IN THE BOARD OF MANAGEMENT

Volkswagen Aktiengesellschaft considers a further development of the management structure of the Group, which would also be associated with personnel changes in the Board of Management and with changes in the specific responsibilities of the Board of Management members. This could also include a change in the position of the chairman of the Board of Management.

On the basis of these considerations, the Chairman of the Supervisory Board of Volkswagen Aktiengesellschaft is currently in discussions with certain members of the Supervisory Board and of the Board of Management. Mr. Matthias Müller showed his general willingness to contribute to the changes. It is currently open whether the considerations and discussions will lead to a further development of the management structure or to personnel changes in the Board of Management of Volkswagen Aktiengesellschaft.

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