Conflicts of interest

A conflict of interest between Volkswagen AG and TRATON SE could not be ruled out in measures to increase the free float of TRATON SE shares. As a precautionary measure, Mr. Pötsch, who is also the Chair of the Supervisory Board of TRATON SE, and Ms. Schnur, who is also a member of the Executive Committee of TRATON SE, therefore did not participate in the discussions or the resolutions adopted by the Supervisory Board of Volkswagen AG on this matter so that they could participate in potential discussions and resolutions adopted by the Supervisory Board of TRATON SE. As a precautionary measure and out of consideration for the possible involvement of the Emirate of Qatar, Ms. Al Jaber and Mr. Al-Mahmoud did not participate in the discussions or the resolutions adopted by the Supervisory Board on AUDI AG’s involvement in Formula 1 on March 1, 2024. In connection with the establishment of the joint venture with Rivian Automotive, Inc., one of the decisions the Supervisory Board was required to make was whether to approve the allocation of costs between Volkswagen AG and Dr. Ing. h.c. F. Porsche AG. As a precautionary measure, since conflicts of interest could not be immediately ruled out, Ms. Schönhardt, Mr. Harald Buck, Mr. Wolfgang Porsche and Mr. Ferdinand Oliver Porsche, who are also members of the Supervisory Board of Dr. Ing. h.c. F. Porsche AG, did not participate in the decision-making by the Supervisory Board of Volkswagen AG on this matter. Meanwhile, as a precaution, Mr. Hans Michel Piëch and Mr. Hans Dieter Pötsch, who are also members of the Supervisory Board of Dr. Ing. h.c. F. Porsche AG, did not participate in the corresponding decision-making by the Supervisory Board of Dr. Ing. h.c. F. Porsche AG. Ms. Daniela Cavallo did not take part in the Executive Committee’s resolution on the joint Zukunft Volkswagen agreement between the Board of Management, the works council and the IG Metall union as, in view of her being the Chair of the General and Group Works Councils of Volkswagen AG, a conflict of interest could not be ruled out.