VOLKSWAGENDisclaimerThe following presentations as well as remarks/comments and explanations in this context contain forward-looking statementson the business development of the Volkswagen Group.These statements are based on assumptions relating to the developmentof the economic,political and legal environment in individual countries,economic regions and markets,and in particular for theautomotive industry,which we have made on the basis of the information available to us and which we consider to be realistic atthe time of going to press.The estimates given entail a degree of risk,and actual developments may differ from those forecast.At the time of preparing these presentations,it is not yet possible to concusively assess the specific effects of the latestdevelopments in the Russia-Ukraine conflict on the Volkswagen Group's business,nor is it possible to predict with sufficientcertainty to what extent further escalation of the Russia-Ukraine conflict will impact on the global economy and growth in theindustry in fiscal year 2023.Any changes in significant parameters relating to our key sales markets,or any significant shifts in exchange rates,energy andother commodities or commodities relevant to the Volkswagen Group or the supply with parts,or deviations in the actual effectsof the Covid-19 pandemic from the scenario presented will have a corresponding effect on the development of our business.Inaddition,there may be departures from our expected business development if the assessments of the factors influencingsustainable value enhancement and of risks and opportunities presented develop in a way other than we are currently expecting,or if additional risks and opportunities or other factors emerge that affect the development of our business.We do not update forward-looking statements retrospectively.Such statements are valid on the date of publication and can besuperseded.This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.2