In 2011, the Investor Relations team again provided extensive information for investors and analysts at all key financial centers worldwide about the strategic focus and business performance of the Volkswagen Group and its brands. While these events have been mainly centered around Europe in the past, they have been taking place more and more in North and South America, and especially in Asia, since the start of the reporting period. We maintained contact with capital market participants at more than 630 roadshows, conferences, presentations and one-on-one discussions. The number of events thus increased further compared with the already high number in the previous year. Many of these investor relations activities involved members of the Board of Management and Group senior executives.

Members of the Investor Relations team also organized a large number of events for private shareholders. As in previous years, Investor Relations provided extensive support for Group Treasury’s global capital market activities.

Our website recorded around 2.9 million hits, once again more than the previous year. This underlines the growing importance of the Internet as an information channel for investors.

The Group presented its results for 2010 at its Annual Media Conference in March 2011; the event was simultaneously broadcast on the Internet. Scheduled conference calls were held to explain the Volkswagen Group’s quarterly results in 2011, which were also broadcast on the Internet.

We also promptly published all presentations given in connection with events that were relevant for investors online at www.volkswagenag.com/ir.

HIGHLIGHTS IN THE INVESTOR RELATIONS CALENDAR

At the Volkswagen Group’s Annual Analyst and Investor Conference, which was held on March 10, 2011 in the Autostadt at the headquarters in Wolfsburg, the Group Board of Management reported on the results for fiscal year 2010 and explained the prospects for 2011. The day before, in the Audi forum at Munich airport, members of the Board of Management of AUDI AG presented investors and analysts with the past year’s results and were available to answer questions about the premium segment’s performance.

On May 9, 2011, Volkswagen AG announced that its share of the voting rights in MAN SE had exceeded the threshold of 30% and made a mandatory offer to all external MAN shareholders to purchase their shares in MAN SE. Chief Financial Officer Hans Dieter Pötsch explained the strategic background behind this move in a telephone conference and answered numerous questions on this topic.

At the German and Austrian Corporate Conference organized by Deutsche Bank in Frankfurt am Main on May 19, 2011, Hans Dieter Pötsch reported on the Volkswagen Group’s progress in implementing its Strategy 2018.

The International Motor Show (IAA) in Frankfurt am Main in September 2011 was a highlight of the year. The Volkswagen Group showcased a wide range of new models to the public under the motto “Future comes as standard”. Investors and analysts visited the Volkswagen stand to have a look at the various Group brands’ newest models and to ask questions about the Company’s current performance at both the Volkswagen Group Night, which was held on the evening before the show officially began, and the days that followed. Product experts, management representatives and the Investor Relations team were available for discussions.

Another of the year’s highlights in the investor relations event calendar was the Volkswagen Group Americas Investor and Analyst Conference from September 25 to 27, 2011. More than 50 of Volkswagen AG’s most important investors and analysts accepted the invitation to Chattanooga, in order to find out about the Group’s objectives on the American continent in detail and to experience our approach to localizing products directly on site. Hans Dieter Pötsch explained to attendees how the Group will continue to grow profitably and be successful even in a challenging market environment. Representatives from local Group senior management went on to give presentations and organize one-on-one discussions giving detailed insights into Volkswagen and Audi’s strategies in the transatlantic markets. A member of the Board of Management of Porsche AG, our major shareholder, reported on the new products, goals and results of the sports car manufacturer. The program was rounded off by a tour of our new factory in Chattanooga and test drives in various brand models, mainly the Passat that is produced there for the North American market.

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