大众汽车出行战略与路线图-2023-10-企业研究

BankofAmerica

EuropeanAutos&FutureCarVirtualConference2023

VolkswagenFinancialServices|Dr.ChristianDahlheim

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

Disclaimer

Thefollowingpresentationsaswellasremarks/commentsandexplanationsinthiscontextcontainforward-lookingstatementsonthebusinessdevelopmentoftheVolkswagenGroup.Thesestatementsarebasedonassumptionsrelatingtothedevelopmentoftheeconomic,politicalandlegalenvironmentinindividualcountries,economicregionsandmarkets,andinparticularfortheautomotiveindustry,whichwehavemadeonthebasisoftheinformationavailabletousandwhichweconsidertoberealisticatthetimeofgoingtopress.Theestimatesgivenentailadegreeofrisk,andactualdevelopmentsmaydifferfromthoseforecast.Allfiguresarerounded,sominordiscrepanciesmayarisefromadditionoftheseamounts.

Atthetimeofpreparingthesepresentations,itisnotyetpossibletoconclusivelyassessthespecificeffectsofthelatestdevelopmentsintheRussia-UkraineconflictontheVolkswagenGroup’sbusiness,norisitpossibletopredictwithsufficientcertaintytowhatextentfurtherescalationoftheRussia-Ukraineconflictwillimpactontheglobaleconomyandgrowthintheindustryinfiscalyear2023.

Anychangesinsignificantparametersrelatingtoourkeysalesmarkets,oranysignificantshiftsinexchangerates,energyandothercommoditiesorthesupplywithpartsrelevanttotheVolkswagenGroupwillhaveacorrespondingeffectonthedevelopmentofourbusiness.Inaddition,theremayalsobedeparturesfromourexpectedbusinessdevelopmentiftheassessmentsofthefactorsinfluencingsustainablevalueenhancementandofrisksandopportunitiespresenteddevelopinawayotherthanwearecurrentlyexpecting,orifadditionalrisksandopportunitiesorotherfactorsemergethataffectthedevelopmentofourbusiness.

Wedonotupdateforward-lookingstatementsretrospectively.Suchstatementsarevalidonthedateofpublicationandcanbesuperseded.

Thisinformationdoesnotconstituteanoffertoexchangeorselloranoffertoexchangeorbuyanysecurities.

Underthebrand“VolkswagenFinancialServices–thekeytomobility“thesubsidiariesofVolkswagenFinancialServicesAGaswellasitssistercompanyVolkswagenBankGmbHrendervariousservicesunderthejointbrand"VolkswagenFinancialServices".Suchservicesarebankingservices(throughVolkswagenBankGmbH),leasingservices(throughVolkswagenLeasingGmbH),insuranceservices(throughVolkswagenVersicherungAG,VolkswagenAutoversicherungAG)aswellasmobilityservices(interaliathroughVolkswagenLeasingGmbH).Inaddition,insuranceproductsofotherprovidersareoffered.

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

viaVolkswagenGroup0viaEMG

Roadmapformobilityplatform

ONEFLEET1

○via3rdparty

…toyears

Fromminutes…

MicroHail/PoolShareRentSubscribeLeaseFinance

Brandsasfacetothecustomer

IntegratedmobilityplatformasbackboneforB2B&B2C

ONEFLEET1operatedbyEMG

1.Targetpicture,includingvehiclesofcompetitors,referringtosubscription&rental;fleetusageforshare&hail/pool

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

INTERNAL

“

Wewantto

optimizethe

utilizationofourfleet.

“

Weneedto

optimizethelifetimevalue.

mobility

platform

vehicle

Customersandmobilityproviderseachhavetwocoreneeds

Mobilityproviders

Customers

“

Iwouldliketoget

fromAtoB

now/soon.

“

Wearelooking

forournextcar

(orournext

mobilityflatrate).

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

INTERNAL

Vehiclelifetimemanagement

Refinancing

Fleetmanagement

Residualvaluemanagement&cardataanalytics

Remarketingplatform

Mobility

platform

Amobilityplatformisnotjustanappforendcustomers–it‘smuchmore!

CustomerFront-Ends

„VehicleonDemand“

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

INTERNAL

Ourmobilityplatformneedstoconsideratrade-offbetweenrisksandreturns

Shareof

wallet

Customerlife

time

RETURN

Finance+Lease+Vehicleon

+Creditrisks

+Residualvaluerisks+Utilizationrisks

Finance+Lease

+Creditrisks

+Residualvaluerisks

Finance

+Creditrisks

demand

RISK

&togetherdeliveringbrandedsolutionsononeplatform

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

INTERNAL

VolkwagenBankGmbH

VW

Finance

EuropeB.V.

Individual

holdings

(insurance,

otherholdings)

VolkswagenLeasing

GmbH

TargetpictureforoptimizedrefinancingstrategyUnchangedreportingstructureofsegmentVolkswagenFinancialServices

VolkswagenAG

VolkswagenFinancialServicesAG

VolkswagenFinancialServicesOverseasAG

EMG

PFS

VCI/

VCCI

=EUFinancialService

Provider

ReportinggroupVolkswagenFinancialServices

>UsageofVWBank‘scustomerdepositstofundtheplannedgrowthpathoftheEuropeanbusiness

>Sustainablegroupsetupandgovernancestructures,consideringthechangingregulatoryenvironment

>EquitybaseofVolkswagenFinancialServicessufficienteveninthenewstructure

>Implementationofmainstepsplanneduntilmid2024

7

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

INTERNAL

Europe

ABS

CustomerDeposits

ABS

CustomerDeposits

CapitalMarkets

CapitalMarkets

Non-Europe

Bank

Borrowings

Bank

Borrowings

ABS

ABS

CapitalMarkets

CapitalMarkets

Strongbusinessgrowthneedsastrongrefinancingstrategy

CoreelementistheincreaseofcustomerdepositsinEurope

StrategicFundingMixofVolkswagenFinancialServices

Balancesheetgrowthdueto

increasedassetsin€bn

~350

240

202220232024202520262027202820292030

BankofAmerica-EuropeanAutos&FutureCarVirtualConference2023|Dr.ChristianDahlheim

IN