1

Quarterly Update
Audi Group
H1/2022
 2

Contents Markets & Audi Group

Highlights
& milestones products financial KPIs ESG
Financial highlights and Economic environment Income statement ESG overview
KPI overview Production Operating profit bridge EU taxonomy
Selected model Deliveries to customers Balance sheet Environment
presentations H1/2022
Cash flow statement Social & workforce
Corporate highlights
Net cash flow bridge Governance
H1/2022
Investments: R&D and capex
Guidance FY2022

Premium
Audi Report 2021 Brand Group Facts
Insight into strategy, sustainability
Overview Audi corporate strategy
topics and financial development in
Further FY2021
Lamborghini Production sites
publications
Bentley Product portfolio
Audi Fact Pack H1/2022
6M figures Ducati Financial calendar
 3 Quarterly Update H1/2022 Audi Group

Overview
Financial DELIVERIES TO REVENUE NET CASH FLOW
CUSTOMERS
Highlights decreased to €2.6bn
and KPI of cars of the Premium Brand Group
of the Audi Group
rose by 2% to
€29.9bn (€5.5bn)

Highlights &
Milestones
amounted to (€29.2bn)
overview1 797,587 ↓ increasing working capital
H1/22 BEVs increased
(986,567)
↑ first-time consolidation of Bentley ↓ transfer of national sales companies
by 53% to 50,033 ↑ strong pricing within the Volkswagen Group

Markets &
Products
(32,775)
OPERATING PROFIT/ROS
January - June

The Audi brand delivered

CAPEX RATIO
785,099 amounted to
€4.9bn

Financial KPIs
Audi Group
2.8%
(981,681)
(€3.1bn)
increased to
cars, a –20% year-on-year decrease due
to supply shortages and lockdowns in ROS (2.1%)
China despite high market demand. 16.5% ↑ investment in new factory by Audi

Brand Group
Premium
(10.7%) FAW NEV Company in China

5,090 Lamborghini
deliveries – an ↑ positive effects of €0.4bn from raw
(4,852) material hedges in H1/22
R&D RATIO
increase of 5%.
↑ good residual values
Bentley deliveries ↑ strong contribution of brands increased to 7.0%
7,398

ESG
amounted to (6.7%)
(34)1
Before special items, operating profit
Ducati deliveries ↑ higher investment in future products
fell by 4% and 33,265 amounted to €5.0bn (€3.1bn),

Facts
ROS at 16.6% (10.7%)
reached (34,515)
(numbers in brackets represent
1 Bentley was consolidated as of January 1, 2022. Therefore, all Audi Group figures for H1/2021 do not include Bentley, with the exception of 34 units sold by an Audi Group sales company.
prior-year figures Jan-Jun)
 4 Quarterly Update H1/2022 Audi Group

Overview
Financial DELIVERIES TO REVENUE NET CASH FLOW
CUSTOMERS
Highlights decreased to €1.0bn
and KPI of cars of the Premium Brand Group
of the Audi Group
rose by 3% to
€15.6bn (€2.4bn)

Highlights &
Milestones
amounted to (€15.1bn)
overview1 406,761 ↓ increasing working capital
(521,302)
Q2/22 BEVs increased
↑ first-time consolidation of Bentley ↓ higher capex spending
by 42% to 25,797 ↑ strong pricing

Markets &
Products
(18,192)
OPERATING PROFIT/ROS
April - June

The Audi brand delivered

CAPEX RATIO
400,015 amounted to
€1.5bn

Financial KPIs
Audi Group
3.6%
(518,853)
(€1.7bn)
increased to
cars, a –23% year-on-year decrease due
to supply shortages and lockdowns in ROS (2.2%)
China despite high market demand. 9.4% ↑ investment in new factory by Audi

Brand Group
Premium
(11.3%) FAW NEV Company in China

2,551 Lamborghini
deliveries – an ↓ negative effects of –€0.9bn from raw
(2,430) material hedges in Q2/22
R&D RATIO
increase of 5%.
↑ good residual values
Bentley deliveries increased to 6.9%
4,195

ESG
amounted to (6.2%)
(19)1 Before special items, operating profit
amounted to €1.4bn (€1.7bn),
Ducati deliveries ↑ higher investment in future products
fell by 9% and 19,798 ROS at 9.2% (11.3%)

Facts
reached (21,716)
(numbers in brackets represent
1 Bentley was consolidated as of January 1, 2022. Therefore, all Audi Group figures for Q2/2021 do not include Bentley, with the exception of 19 units sold by an Audi Group sales company.
prior-year figures Apr-Jun)
 5 Quarterly Update H1/2022 Audi Group

Selected model presentations H1/2022

Overview
Lamborghini delivers first new Countach, Ducati & Audi present model updates

Ducati Panigale V4 2023: electronic

updates improve performance and

Highlights &
Milestones
comfort

The Ducati Panigale V4 continues its evolution

for the 2023 model year with the introduction
of a series of electronic improvements.

Markets &
The new Engine Brake Control EVO 2 software,

Products
a brand-new strategy for Ducati Quick Shift
and refinements for Ducati Traction Control
and Ride by Wire make the Panigale V4 even
easier and more intuitive for riders of all

Financial KPIs
1 Lamborghini Countach
levels. A new cooling fan control strategy

Audi Group
Lamborghini Countach LPI 800-41 LPI 800-4:
offers improved operating temperature Fuel consumption and
New Countach LPI 800-4 management and better thermal comfort. emission values of
Countach LPI 800-4;
Ducati Panigale V4 2023 Combined fuel
The Countach LPI 800-4 is the commemorative
consumption:
version celebrating the 50th anniversary of the

Brand Group
19,5 l/100km (WLTP);

Premium
iconic model. An even more visionary and combined CO2-
emissions: 440 g/km
futuristic design characterizes this new totally
(WLTP). For the vehicle,
reinvented version produced in a limited series Update for Audi A1 model series only consumption and
of just 112 units, delivery of which started in The most individual model of the Audi emission values
April 2022. according to WLTP and
compact series is being renamed. The Audi A1 not according to NEDC
The 6.5-liter, 780 hp V12 engine of the new citycarver is now called the Audi A1 allstreet2. are available.

ESG
Countach is paired with a 48V electric motor With its sporty, streamlined lines based on the 2 Audi A1 allstreet:
mounted directly on the gearbox to supply Fuel consumption and
Audi A1 Sportback, the compact car will stay emission values of Audi
another 34 hp. The combined horsepower of true to its popular, robust off-road look. All A1 allstreet;
814 makes it possible to reach the equipment and customization options Combined fuel
extraordinary top speed of 355 km/h while consumption:
previously on offer as well as the previously

Facts
5,2-4,9 l/100km
also only having a dry weight of 1,595 kg. available engine/transmission combinations (WLTP); combined CO2-
will also remain. Audi A1 allstreet2
emissions:
119-112 g/km (WLTP)
 6 Quarterly Update H1/2022 Audi Group

Corporate highlights H1/2022

Overview
Audi sets cornerstone for new NEV company in China, further roll out of charging hub

Audi Board of Management Audi captures the zeitgeist

change with this car: first Audi 80

Highlights &
Milestones
unveiled 50 years ago
As of May 2022, Xavier Ros has The Audi 80 is both a pioneer of
succeeded Sabine Maassen as Board innovative technology and a
Member for Human Resources and trendsetter, and became the first
Organization at AUDI AG. Having million-seller for the brand with the

Markets &
Products
attained a degree in mechanical Four Rings. The significance of the
engineering, Ros started his compact sedan for Audi and the
professional career at Audi in 1994 Volkswagen Group is indisputable – not
before switching to SEAT in 1999 and least because the Audi 80 pioneered
later to Volkswagen. Since September modular design. In an impressive way,

Financial KPIs
Audi Group
2015, he has overseen SEAT’s Human Audi FAW NEV Company the Audi 80 demonstrated that
Resources division in Martorell. With builds smart factory for “Vorsprung durch Technik” is a Audi continues to roll out
this transfer to the Audi Board of e-models in Changchun tradition at Audi. charging hub
Management, the company’s executive
With the foundation of the Audi FAW The Audi 80 established the B series. Feedback following the pilot phase of
level is becoming more international
NEV Company, Audi has set the course More than 12.5 million B1 to B9 cars the Audi charging hub in Nuremberg

Brand Group
by bringing a Spanish native on board.

Premium
for local production of models based (Audi 80 and Audi A4 models) have turned out to be overwhelmingly
→ read more
on the PPE (Premium Platform been produced up to the present day. positive. The fact that repeat
Electric) technology platform for the → read more customers accounted for some 60
Chinese market. Work began on the percent of charging sessions confirms
new production site in the northern the Four Rings’ globally unique, urban
Chinese metropolis of Changchun at charging concept. The Audi charging

ESG
the end of June. With construction set hub mostly serves urban drivers who
to finish by the end of 2024, this will cannot charge at home. Starting in the
be the first automotive plant in China second half of the year, a second
where only all-electric Audi models roll compact Audi charging hub pilot site
off the line. The factory is designed to will open in downtown Zurich.

Facts
produce more than 150,000 vehicles a Additional sites are slated to open in
year. → read more attractive locations in the following
years. → read more
Audi 80, “B1”
 7 Quarterly Update H1/2022 Audi Group

Economic environment

Overview
GDP and vehicle markets still affected by COVID-19 and supply-chain issues

Real GDP growth, quarterly Automotive markets

in % change from a year earlier (Data: IHS Markit) by region in million units

Highlights &
Milestones
World USA Europe China Germany World USA Europe China Germany From January to June 2022, the global passenger car
market volume decreased significantly overall
20 22 compared with the same quarter of the previous year.
15 20 In particular, bottlenecks and disruptions in global
supply chains as a result of the COVID-19 pandemic

Markets &
Products
18
10 and the effects of the Russia-Ukraine conflict had a
16 negative impact.
5
14 In addition, the continued significant restrictions on
0 the supply situation for semiconductors weighed on all

Financial KPIs
Audi Group
6 major individual markets.
-5
4 Similar effects also impacted the motorcycle market,
although the decrease was less intense compared with
-10 2 the automotive market.

Brand Group
-15 0

Premium
Q2/2020 Q2/2021 Q2/2022 Q2/2020 Q2/2021 Q2/2022

After the slump in global economic output in 2020

and the onset of recovery due to base and catch-up Real GDP growth Automotive markets
in % change from a year earlier in units
effects in 2021, economic growth in both advanced
economies and emerging markets continued to Q2/2022 Q2/2021 1-6/2022 1-6/2021 Δ%

ESG
recover on average, albeit with declining momentum.
Europe 3.2 15.6 6,023,230 7,451,897 –19.2
At a national level, developments during the reporting
of which Germany 2.1 10.4 1,238,174 1,390,889 –11.0
period depended on the extent to which the COVID-19
pandemic unfolded its negative effects and the USA 1.4 12.2 6,845,729 8,355,351 –18.1
intensity with which measures were taken to contain

Facts
China 0.4 7.9 9,506,117 10,241,068 –7.2
the spread, and on the other hand how severely the
national economies were affected by the Worldwide 2.7 11.7 33,504,637 37,274,427 –10.1

consequences of the Russia-Ukraine conflict.

 8 Quarterly Update H1/2022 Audi Group

Production

Overview
Ongoing supply shortages and COVID-19 lockdowns in China affected production

Production Premium Brand Group The production volume in the reporting period Premium Brand Group automobiles1
was heavily impacted by ongoing

Highlights &
NEV production

Milestones
semiconductor shortages and by the COVID-19
in units 1-6/2022 1-6/2021 Δ in % in units 1-6/2022 1-6/2021 Δ in %
lockdowns in China.
Ingolstadt (GER) 163,784 180,329 –9.2 BEV production 53,600 32,404 65.4
The local production of Audi cars by associated PHEV production
Neckarsulm (GER) 73,102 92,043 –20.6 31,979 52,426 –39.0
companies in China amounted to 285,039
NEV total 85,579 84,830 0.9
Zwickau (GER) 19,884 4,888 X
(334,029) units, a decline of –14.7%.

Markets &
Products
Győr (HUN) 87,687 95,794 –8.5 NEV share
Lamborghini manufactured 5,254 (4,286)
Brussels (BEL) 25,416 21,445 18.5 in % of automobile production
vehicles in the first half year of 2022, a year-
San José Chiapa (MEX) 86,891 76,964 12.9
on-year increase of 22.6%. 1-6/2021 9.3
China (all sites) 285,039 334,029 –14.7 +1.0ppt.
The production volume of Bentley –

Financial KPIs
Other sites 74,172 103,581 –28.4 1-6/2022 10.3

Audi Group
consolidated since January 2022 as a new
Audi brand 815,975 909,073 –10,2
member of the Premium Brand Group – was
Sant’Agata Bolognese (ITA) 5,254 4,286 22.6 Quarterly production1
8,5801 in the first two quarters of 2022.
Lamborghini brand 5,254 4,286 22.6 in k units
Crewe (UK) 8,580 – X Despite the challenging supply situation, Audi
Q3/2020 – Q2/2021 Q3/2021 – Q2/2022
was able to increase the production of fully

Brand Group
Bentley brand1 8,580 – X

Premium
533
electric vehicles substantially in order to meet 456 451 462
Total automobiles 829,809 913,359 –9.1
the ongoing strong demand. The New Energy
Motorcycles 398 422 407
Vehicle (NEV) share – fully electric and plug-in 270
Ducati brand 35,835 36,984 –3.1 hybrid vehicles as a proportion of total car
production – increased to 10.3% (9.3%) within Q3 Q4 Q1 Q2
the Premium Brand Group.
From January to June 2022, 829,809 Production by segment1

ESG
(913,359) automobiles of the Premium Brand In the first six months of 2022, Ducati 1-6/2022 (1-6/2021), in % of automobile production
Group were produced in total, a decrease of produced 35,835 (36,984) motorcycles – a
–9.1% compared with the prior-year period. decrease of –3.1% compared with the previous A0/A segment 38% (38%)
1 Bentley production in
year, also affected by semiconductor B segment 36% (34%) 1-6/2021: 7,157 units;
The Audi brand recorded a production of shortages. C segment 23% (27%) figure not included in

Facts
815,975 (909,073) cars, which was a decline D/E segment 3% (2%) 2021 Premium Brand
by –10.2%. Group numbers.
 9 Quarterly Update H1/2022 Audi Group

Deliveries to customers

Overview
Strong demand only partly satisfied due to supply shortages

Deliveries to customers Therefore, it was not possible to fully serve Deliveries of Premium Brand Group
Premium Brand Group the persistently high customer demand, automobiles1

Highlights &
Milestones
resulting in a decrease of deliveries in all
in units 1-6/2022 1-6/2021 Δ in % in units 1-6/2022 1-6/2021 Δ in %
major regions in the first half-year.
Automobiles On the Chinese market, the drop of –23.3% Europe 310,701 353,128 –12.0

Audi brand 785,099 981,681 –20.0 for the Premium Brand Group compared with Germany 106,058 104,422 1.6
China
Lamborghini brand 5,090 4,852 4.9 the very strong previous year was mostly 321,755 419,351 –23.3

Markets &
incl. Hong Kong

Products
driven by COVID-19 lockdowns. Those affected USA 87,033 123,337 –29.4
Bentley brand 7,398 341 X
the local sales situation especially at the Other markets 78,098 90,751 –13.9
Total automobiles 797,587 986,567 –19.2
beginning of the second quarter. Total 797,587 986,567 –19.2
Motorcycles
In addition to the semiconductor shortages,
Ducati brand 33,265 34,515 –3.6

Financial KPIs
deliveries on the US market were impacted by

Audi Group
logistic issues. This led to a decrease of in units/in % of automobile deliveries
–29.4% compared with the strong H1/2021. BEV 50,033 32,775 52.7
In the first six months of 2022, the Premium
Despite the challenging supply situation, the BEV share 6.3% 3.3% 3.0 ppt.
Brand Group delivered 797,587 (986,567)
Audi brand increased the number of fully SUV 398,972 466,381 –14.5
automobiles to customers, a decrease of
electric vehicles (BEV) by 52.7% year-on-year. SUV share 50.0% 47.3% 2.7 ppt.

Brand Group
–19.2% compared with the record H1/2021.

Premium
In total 50,033 (32,775) BEVs were delivered. China locally prod. 296,223 373,388 –20.7
The decline is driven by the Audi brand with a The Audi Q4 e-tron models recorded the locally produced
37.1% 37.8% –0.7 ppt.
year-on-year change of –20.0%, whereas highest growth. As a result, the BEV share of
in China share
Lamborghini recorded an increase of 4.9%. the Premium Brand Group rose to 6.3%.
The British brand Bentley started the first half-
year with 7,398 deliveries. Quarterly deliveries By segment 1 Bentley was
consolidated as of

ESG
The Ducati brand delivered 33,265 (34,515) in k units 1-6/2022 (1-6/2021), in % of automobile deliveries
January 1, 2022.
motorcycles to customers, a decline of –3.6% Q3/2020 – Q2/2021 Q3/2021 – Q2/2022 Therefore, the
compared with the strong prior-year, also H1/2021 figure only
482 507 521 A0/A segment 39% (37%) includes deliveries to
affected by semiconductor shortages. 465
customers of 34 units,
B segment 37% (35%)
The ongoing bottlenecks in semiconductor sold by an Audi Group
391 407 C segment 22% (27%)

Facts
368 334 sales company. For
supply, COVID-19 lockdowns in China and D/E segment 2% (2%) information: Bentley
logistic challenges likewise affected the Q3 Q4 Q1 Q2 deliveries in H1/2021:
availability of Audi cars in H1/2022. 7,199 units.
 10 Quarterly Update H1/2022 Audi Group

Income statement

Overview
Market performance and strong brands lead to record profit

Income statement In the first six months of 2022, the The other operating result included
Audi Group, in €m / in % of revenue Audi Group generated revenue of positive effects from raw material

Highlights &
Milestones
€29,869m (€29,212m). The year-on- hedges of €0.4bn in H1/22 (positive
in €m 1–6/2022 1–6/2021 in %
year increase of 2% despite a effect in Q1/22: €1.2bn) and
Revenue 29,869 29,212 2.2 decrease in deliveries was mainly significantly increased residual
Costs of goods sold –24,253 –25,068 –3.3 attributable to the first-time values.
consolidation of Bentley in 2022. In
The operating profit before special

Markets &
Gross profit 5,616 4,144 35.5

Products
addition, it was possible to further
Distribution expenses –1,429 –1,454 –1.7 items amounted to €4,965m
improve the strong price position.
(€3,113m). The operating margin
Administrative expenses –376 –317 18.6
Cost of goods sold decreased mainly was 16.6% (10.7%). Special items of
Other operating result 1,121 739 51.7 due to the lower sales volume as a –€32m (–) were in connection with

Financial KPIs
Operating profit 4,933 3,113 58.5 consequence of supply shortages. the diesel issue.

Audi Group
Return on sales (ROS) 16.5% 10.7% 5.8 ppt. Distribution expenses decreased The financial result of the Audi Group
Financial result 754 762 –1.0 compared with the prior year period was almost stable at €754m
of which China business1 431 565 –23.7 due to lower advertising costs, (€762m) including a lower profit
among other things. from the China business of €431m 1 Includes the result from
Profit before tax 5,687 3,875 46.8

Brand Group
(€565m) mainly as a result of the investments accounted
The increase in administrative

Premium
Income tax expense –1,297 –488 X for using the equity
COVID-19 lockdowns in the second
expenses is driven by the method: FAW-
Profit after tax 4,390 3,386 29.6 quarter. In contrast, higher interest Volkswagen
consolidation of Bentley.
rates for discounting of provisions Automotive Co., Ltd.,
Operating profit before special Volkswagen Automatic
items
4,965 3,113 59.5 had a positive effect. Transmission (Tianjin)
ROS before special items 16.6% 10.7% 5.9 ppt. Co., Ltd., SAIC
Operating profit before special items 2021 2022 Volkswagen

ESG
in €m/ in % of revenue 4,965 Automotive Co., Ltd.
Audi grandsphere concept2 (16.6%) and brand settlement/
performance-related
3,535 income for China
(24.8%) 3,113
(10.7%) business.

1,709 1,652 2 The vehicle shown here

1,404 1,430

Facts
(11.3%) (13.0%) is a concept vehicle that
(10.0%) (9.2%)
781 is not available as a
(7.0%)
series production
vehicle.
Q1 Q2 Q3 Q4 H1
 11 Quarterly Update H1/2022 Audi Group

Operating profit bridge

Overview
Strong market performance despite supply challenges, but headwind from raw materials

Operating profit bridge

in €m, in % of revenue

Highlights &
Milestones
2,116 4,965 4,933
188 (16.6%) (16.5%)
-139 -32
-313

Markets &
Products
3,113
(10.7%)

Financial KPIs
Audi Group
Brand Group
Premium
1–6/2021 Volume/ FX/raw materials Product costs Fixed costs/other 1–6/2022 Special items 1–6/2022
market hedges before special items

Volume/market: While lower volumes due to supply FX/raw materials: Effects from raw material hedges Fixed costs/other had a positive effect in a year-on-
shortages had a disadvantageous impact on the (mostly aluminum & copper) impacted the operating year comparison. Adjusted for the Bentley

ESG
operating profit, the positive effects of the previous profit negatively on a year-on-year comparison. The consolidation fixed costs without R&D were positive.
periods could be sustained: a substantially better positive valuation effects of the first quarter R&D costs increased mainly due to the consolidation
pricing as well as reduced incentives, higher residual dramatically reversed in Q2/22. Currency effects were of Bentley, whereas capitalized development costs
values and a higher contribution from genuine parts positive compared with the prior year. were higher.
business led to strong growth in the first six months
Product costs developed negatively compared with the Special items related to diesel had a negative impact

Facts
of 2022. This was supplemented by a strong
prior year, mainly as a result of increased raw material of –€32m (–) on operating profit.
performance by Lamborghini and Ducati as well as the
prices and supply chain risks.
first-time consolidation of Bentley.
 12 Quarterly Update H1/2022 Audi Group

Balance sheet

Overview
Bentley consolidation, higher profit & working capital affect balance sheet

As of June 30, 2022, total assets The transfer of several national sales Balance sheet
increased to €67,822m (€66,124m), companies (NSCs) stated in the Audi Group, in €m

Highlights &
Milestones
mainly impacted by the first-time previous year is concluded.
Jun 30, 2022 Dec 31, 2021 in %
consolidation of Bentley.
Equity of the Audi Group increased
Non-current assets 32,803 31,754 3.3
Non-current assets were up significantly, affected by higher
compared with December 31, 2021, retained earnings and lower actuarial Current assets 34,930 33,445 4.4

mostly as a result of higher intangible losses for pensions as a result of

Markets &
of which inventories 8,321 7,090 17.4

Products
assets, higher property, plant and increased interest rates; the equity of which trade receivables 6,043 4,416 36.8
equipment and increased other ratio amounted to 44.3% (39.3%). Assets held for distribution to
88 926 –90.4
financial assets. owners
Non-current liabilities fell mainly due
Total assets 67,822 66,124 2.6
Current assets increased moderately. to lower provisions for pensions.

Financial KPIs
Inventories and trade receivables Equity 30,019 26,012 15.4

Audi Group
The increase of current liabilities was
were higher, whereas cash and cash Non-current liabilities 14,915 17,149 –13.0
primarily caused by higher trade
equivalents decreased as a conse- Current liabilities 22,888 22,399 2.2
payables. The payment of the profit
quence of the 2021 profit transfer to
transfer from 2021 to Volks- of which trade payables 7,445 6,667 11.7
Volkswagen AG.
wagen AG had contrary effects. Liabilities held for distribution

Brand Group
0 564 –99.9
Assets classified as held for to owners

Premium
distribution to owners are mainly in Total liabilities and equity 67,822 66,124 2.6
connection with the agreed transfer
of a company within the Volkswagen
1 Audi RS e-tron GT:
Group.
combined electric
power consumption in
kWh/100 km: 20.2–

ESG
Audi RS e-tron GT1
19.3 (NEDC), 22.6–
20.6 (WLTP); combined
CO₂ emissions in g/km:
0. Information on
electric power
consumption and CO₂

Facts
emissions in ranges
depends on the
vehicle’s selected
equipment.
 13 Quarterly Update H1/2022 Audi Group

Cash flow statement

Overview
NCF affected by negative working capital effects & higher investments despite strong profit

Cash flow statement The Audi Group generated a cash flow The cash flow from investing
Audi Group, in €m from operating activities of €4,858m activities was –€3,691m (–€1,637m).

Highlights &
Milestones
(€7,039m) in the first half of 2022.
The Audi Group generated a cash flow from operating
1–6/2022 1–6/2021
activities
in % While capital expenditures increased
of €4,858m (€7,039m) in the first half of 2022. The significant decrease compared mainly due to investments by the new
Cash and cash equivalents at the
12,2351 11,152 9.7 with the extraordinary strong
beginning
The of perioddecrease compared with the extraordinary strong
significant AUDI FAW NEV company, capitalized
Gross cash flow 6,148 to negative
4,895 25.6 previous year was mainly attributable development costs rose as a result of
previous year was mainly attributable working
to negative working capital effects the current product development life
capital
Working effects
capital despite a higher gross–1,290
cash flow as a result of the

Markets &
2,144 X

Products
despite a higher gross cash flow as a cycle of the product portfolio.
improved profit.
Cash flow from operating activities 4,858 7,039 –31.0
result of the improved profit.
Inventories increased due to logistic challenges Changes in participations reflect a
–1,527and supply
Investing activities attributable
–2,265 48.3
to operating activities Inventories increased due to logistic cash outflow in connection with the
shortages compared with the extraordinary low level in the
of which capital expenditures –847 challenges and supply shortages transfer of national sales companies
previous year. Trade receivables recorded a –608 39.4
growth. Trade

Financial KPIs
compared with the extraordinary low

Audi Group
of which capitalized development
payables increased mainly due to higher production
–1,031 at the end
–920 of
12.1 within the Volkswagen Group.
costs level in the previous year. Trade
theofquarter. Provisions decreased
which changes in participations
driven by
–494
higher interest
–10
rates
X The net cash flow of the Audi Group
receivables recorded growth. Trade
for discounting. reached €2,593m (€5,512m).
Net cash flow 2,593 5,512 –53.0 payables increased mainly due to
Change in deposits and loans extended –1,427 –110 X higher production at the end of the The cash flow from financing
quarter. Provisions decreased driven activities came in at –€4,117m

Brand Group
Capital contribution 143 191 –25.2

Premium
by higher interest rates for (–€7,713m) and mainly includes the
Profit transfer / dividend payment –4,025 –7,830 –48.6
discounting. profit transfer to Volkswagen AG for
Lease payments, change in other
financial liabilities
–235 –74 X 2021.
Change in cash & cash equivalents due
to changes in 263 114 X Net cash flow
exchange rates Audi Group, in €m 5,512
Changes in cash and cash equivalents –2,688 –2,197 22.3 2021 2022

ESG
Cash and cash equivalents
(June 30, 2022, compared with Dec 31, 9,547 12,022 –20.6 3,085
2021) 2,427 2,405 2,593
Net liquidity 1,638
(June 30, 2022, compared with Dec 31, 20,702 22,674 –8.7
955
2021)

Facts
1 Including €213m from
Cash flow from investing activities –3,691 –1,637 X
the first-time
-160 consolidation of
Cash flow from financing activities –4,117 –7,713 –46.6
Q1 Q2 Q3 Q4 H1 Bentley
 14 Quarterly Update H1/2022 Audi Group

Net cash flow bridge

Overview
Net cash flow affected by negative working capital effects

Net cash flow bridge

in €m, 1-6/2022

Highlights &
Milestones
6,148

-1,290

Markets &
Products
-847
107 3,087
2,593
-1,031

Financial KPIs
-494

Audi Group
Brand Group
Premium
Gross cash flow Change in Capital expenditure Capitalized Other Operating (Dis-) Investments Net cash flow
working capital development costs net cash flow in participations

High gross cash flow due to the strong operating Capital expenditure of the Audi Group went up mainly Disinvestments in participations include mainly the
performance and the inclusion of Bentley. Non-cash due to the consolidation of Bentley and investments cash outflow in connection with the transfer of

ESG
effects in connection with raw material hedging by the AUDI FAW NEV company in China for the new national sales companies within the Volkswagen
valuation had a negative impact. factory. Group.

The change in working capital reflects the increase in Capitalized development costs had a higher impact in
finished, unfinished goods as well as raw materials the reporting period, reflecting the increased
and supplies. The main reasons were logistic capitalization ratio as an outcome of the current

Facts
challenges and supply shortages. Moreover, trade product development life cycle.
receivables and provisions had a negative effect, while
trade payables had a positive impact.
 15 Quarterly Update H1/2022 Audi Group

Investments: R&D and capex

Overview
R&D activities reflect product life cycle, capex discipline remains strong

Future investments1 In the first half-year of 2022, R&D activities Research and development
Audi Group, 2022-2026 went up to €2,103m (€1,945m). The increase Audi Group, in €m / in %

Highlights &
Milestones
is mainly based on the first-time consolidation
of Bentley. 1–6/2022 1–6/2021 in %

The R&D ratio remained almost stable at 7.0% R&D activities 2,103 1,945 8.2
(6.7%), which is within the strategic target R&D ratio 7.0% 6.7% 0.3 ppt.
corridor of 6 to 7%.

Markets &
Total

Products
Capitalized R&D 1,031 920 12.1
investments of which The capitalization ratio increased to 49.0% Capitalization ratio 49.0% 47.3% 1.7 ppt.

€40bn
(47.3%), reflecting the current stage of the
Amortization of
product development life cycle of the Audi
future Group product portfolio.
capitalized R&D
806 680 18.5

topics

Financial KPIs
R&D expenses 1,878 1,705 10.2

Audi Group
As a result, R&D expenses amounted to
€22bn €1,878m (€1,705m).

Capital expenditure3
Capex went up to €847m (€608m), mainly Audi Group, in €m, in % of revenue

Brand Group
because of investments by the new AUDI FAW

Premium
1 Sum of capital
Electrification NEV company in China for the new factory. The
+39.4% expenditure and R&D

€14bn
capex ratio therefore increased to 2.8% activities according to
(2.1%). Planning Round 70, for
847 the periods 2022-
(2.8%) 2026.

Hybridization Future investments 608 2 Including other future

ESG
€5bn
(2.1%) topics, not including
For the years 2022 through 2026, the Audi CARIAD budget.
Group (including Bentley) will invest €40bn.
3 Capex includes
€19bn will be invested in the electrification investments in

Digitalization2 roadmap: €14bn will go towards fully electric

property, plant and
equipment, investment

€3bn

Facts
cars, a further €5bn towards plug-in hybrids. property and other
The five-year digitalization budget amounts to 1–6/2021 1–6/2022 intangible assets
according to the cash
€3bn, and mostly includes the Audi-specific flow statement.
adaption of CARIAD solutions.
 16 Quarterly Update H1/2022 Audi Group

Guidance FY2022

Overview
Guidance mostly unchanged despite ongoing uncertainties

The current guidance of the Premium Brand Guidance FY2022 Audi Group
Group is mostly unchanged and already

Highlights &
Milestones
includes the foreseeable near-term
2021 2022 guidance1 strategic target
consequences of the semiconductor supply
shortages, the Russia-Ukraine conflict and of Deliveries to customers
1,688,978 between 1.8m and 1.9m –
the COVID-19 lockdowns in China in H1/2022. Audi Group, in automobiles
Revenue
The effects of the further course of the Russia- 53,068 between €62bn and €65bn –

Markets &
Products
in €m
Ukraine conflict including the unclear gas
Operating return on sales 2030: >11%
situation in Europe and the potential impacts in %
10.4% between 9 and 11%
until then: between 9 and 11%
on the global economy still cannot be
Capex ratio within the strategic
predicted with sufficient certainty. Further in %
3.8%
target corridor
between 4 and 5%

Financial KPIs
risks could result from bottlenecks in the

Audi Group
R&D ratio Update: slightly above the
supply chain. The development of the 7.4% between 6 and 7%
in % strategic target corridor
commodity markets also remains
Net cash flow
unpredictable, which in turn may have 7,757 between €4.5bn and €5.5bn –
in €m
significant effects on the valuation of raw 1 The consolidation of
Return on investment
material hedges. In addition, negative effects 16.7% between 17 and 20% above 21% the new brand Bentley
in %

Brand Group
from January 1, 2022,

Premium
may continue to result from a worsening is considered within the
COVID-19 pandemic and from the supply guidance.
situation – especially for semiconductors.
The guidance for the R&D ratio was adjusted 2 Audi Q4 50 e-tron
due to higher investments in future quattro: combined
electric power
technologies. The R&D ratio is now planned to consumption in

ESG
be slightly above the strategic target corridor kWh/100 km: 17.8–
of 6 to 7%. 16.5 (NEDC); 20.0–7.9
(WLTP); combined CO2
emissions in g/km: 0.
Information on power
consumption and CO2

Facts
emissions in ranges
depends on the
vehicle’s selected
equipment.
Audi Q4 50 e-tron quattro2
 17 Quarterly Update H1/2022 Audi Group

Overview

Overview
Transparency, clear commitments & ambitious strategic targets defined for each brand

PREMIUM

Highlights &
Milestones
BRAND GROUP

DELIVERIES TO
CUSTOMERS H1/22
785,099 5,090 7,398 33,265 797,5871

Markets &
Products
€26.4bn €1.3bn €1.7bn €0.5bn €29.9bn
REVENUE H1/222

Financial KPIs
Audi Group
15.5% 31.9% 23.3% 12.6% 16.5%
ROS H1/22

12–16%

Brand Group
Premium
(2022-2026)
ROS TARGET
9–11% 22–25% 16–20% 8–10% 9–11%
2022–2030 (2027-2030)

ROS TARGET

ESG
from 2030 >11% >25% >20% >10% >11%
1 Automobiles

2 The sum of the

INVESTMENT individual brands does
€35bn €1.8bn €2.6bn €0.6bn €40bn

Facts
not equal the figure of
2022–2026 the Premium Brand
Group due to
consolidation effects.
 18 Quarterly Update H1/2022 Audi Group

Lamborghini

Overview
Lamborghini delivers strong numbers in H1/2022

Production Lamborghini continued the strong Financial highlights

Lamborghini Group, in units performance of the first three months of Lamborghini Group, in €m / in % of revenue

Highlights &
Milestones
2022: deliveries to customers came in at a new
1-6/2022 1–6/2021 in % 1–6/2022 1–6/2021 in %
record level of 5,090 units after six months, an
Aventador 509 362 40.6 increase of 4.9% compared with 2021. Revenue 1,332 1,020 30.6
Huracán 1,689 1,220 38.4 Lamborghini achieved a revenue of €1,332m Operating profit 425 251 69.6
Urus1 3,056 2,704 13.0 in H1/2022. This represents an increase of ROS 31.9% 24.6% 7.3 ppt.

Markets &
Products
Total 5,254 4,286 22.6 30.6% compared with the prior year period.
The operating profit increased by 69.6% to
€425m. The corresponding return on sales
Deliveries to customers (ROS) reached 31.9%. Main drivers for the

Financial KPIs
Lamborghini Group, in units
increase were a growth in volume, favorable

Audi Group
1–6/2022 1–6/2021 in %
mix, personalization and positive exchange
rate effects.
Aventador 391 524 -25.4

Huracán 1,588 1,532 3.7 Direzione Cor Tauri Strategy

Brand Group
Urus1 3,111 2,796 11.3

Premium
Total 5,090 4,852 4.9 1 2 3

Celebrating Hybrid transition First fully

Deliveries to customers by region the combustion engine electric
Lamborghini Group two new cars in launch of the entire range Lamborghini
the V12 model first hybrid electrified
line-up announced series-production

ESG
in 2021 car

Europe 35% (32%)

second half
2021 2022 2023 2024
2024
2024
2024
2024 2024
of the decade
USA 30% (31%)
1 Lamborghini Urus:
Investment ROS target combined fuel
China: 11% (12%)

Facts
amount 22-25%
2022-2030 consumption in

€1.8bn
l/100 km: 12.6 (NEDC);
Other markets: 24% (25%)
>25% from 2030
combined CO2
2022-2026
emissions in g/km: 292
 19 Quarterly Update H1/2022 Audi Group

Bentley

Overview
Bentley with a strong development in the first six months

Production1 In the first six months of 2022, Bentley Financial highlights1

Bentley Group, in units delivered 7,398 (7,199)1 cars to customers Bentley Group, in €m / in % of revenue

Highlights &
Milestones
worldwide, an increase of 2.8%.
1–6/2022 1–6/2021 in % 1–6/2022 1–6/2021 in %
Bentley achieved a revenue of €1,707m in
Bentayga 3,851 2,730 41.1 Revenue 1,707 1,324 29.0
H1/2022. The operating profit reached a
Continental 2,380 2,349 1.3 record of €398m mainly driven by strong Operating profit 398 178 123.8
Flying Spur 2,349 2,078 13.0 wholesales, better pricing, personalization and ROS 23.3% 13.4% 9.9 ppt.

Markets &
Products
Total 8,580 7,157 19.9 FX effects.
The return on sales (ROS) came in at 23.3%.
Deliveries to customers1 Bentley also set itself ambitious ROS targets:
Bentley Group, in units The company aims to achieve an ROS of over

Financial KPIs
20% from 2030 on. Until 2026, ROS is life

Audi Group
1–6/2022 1–6/2021 in %
cycle-driven and targeted between 12 and
Bentayga 2,903 2,767 4.9 16%, from 2027 to 2030 an ROS between 16
Continental 2,460 2,318 6.1
and 20%.
1 Bentley was
Flying Spur 2,063
2,030 –1.6 Investment
ROS target

Brand Group
consolidated as of

Premium
Mulsanne 5 51 –90.2 amount January 1, 2022.
Therefore, all Audi
Total 7,398 7,199 2.8 2022-2026 Group figures for
2022-2026

Deliveries to customers by region1

12–16% €2.6bn
H1/2021 do not
include Bentley. For the
purpose of comparison,
Bentley Group
2027-2030 the prior-year figures
are stated on this page.

ESG
Europe 31% (24%)
16–20% 2 Bentley Bentayga
Hybrid: combined
from 2030 fuel/electric power
USA 27% (27%) consumption in
>20% l/100km / kWh/100
km: 3.4/21.0 (NEDC),
China: 22% (30%)

Facts
3.4/25.8 (WLTP);
combined CO2
Other markets: 21% (20%)
emissions in g/km: 77
Bentley Bentayga Hybrid2 (NEDC), 82 (WLTP)
 20 Quarterly Update H1/2022 Audi Group

Ducati

Overview
Ducati achieves strong financial numbers, despite volume decrease in H1/22

Production The Ducati brand delivered a total of 33,265 (34,515) Financial highlights
Ducati Group, in units motorcycles worldwide in the first half-year of 2022.

Highlights &
Ducati Group, in €m / in % of revenue

Milestones
1 Purchase price allocation 1–6/2022
(PPA) This decrease of –3.6% compared with the prior-year
1–6/2021 in %
period is mainly based on the challenging
1–6/2022 1–6/2021 in %
Scrambler 6,017 6,835 –12.0 environment, for example with discontinuity in supply
Naked/Sport Cruiser (Diavel, especially for semiconductors. Revenue 542 514 5.4
12,014 11,486 4.6
Monster, Streetfighter)
The Multistrada V4 remains the most popular model Operating profit 68 59 14.9

Markets &
Products
Dual/Hyper (Hypermotard,
Multistrada, Desert X)
11,601 11,344 2.3 among Ducatisti with 8,301 motorcycles delivered. ROS 12.6% 11.5% 1.1 ppt.

Sport (Supersport, Panigale) 6,203 7,319 –15.2 Despite the negative development in deliveries,
Total 35,835 36,984 –3.1 revenue increased by 5.4% to €542m, mainly due to a
strong price position. The operating profit reached

Financial KPIs
Audi Group
Deliveries to customers €68m, with an operating return on sales (ROS) of
Ducati Group, in units 12.6%.
1–6/2022 1–6/2021 in %

Scrambler 4,989 6,968 –28.4

ROS target

Brand Group
Naked/Sport Cruiser (Diavel,
11,115 10,608 4.8
Investment

Premium
Monster, Streetfighter)

Dual/Hyper (Hypermotard,
Multistrada, Desert X)
10,709 10,197 5.0
8–10%
2022-2030
amount
>10% from 2030 €0.6bn
Sport (Supersport, Panigale) 6,452 6,742 –4.3

Total 33,265 34,515 –3.6

2022-2026

ESG
Deliveries to customers by region
Ducati Group

Europe: 57% (55%)

USA: 12% (14%)

Facts
China: 7% (6%)
Other markets: 24% (24%)
Ducati Desert X
 21 Quarterly Update H1/2022 Audi Group

1 Audi regards net carbon

ESG overview

Overview
neutrality as a state in

Anchoring Environment, Social and Governance at Audi which, following the

exhaustion of other
possible measures
aimed at reducing the
still remaining CO₂
Since 2021, the DCI has also been anchored in

Highlights &
emissions caused by

Milestones
the management remuneration as an integral the products or activi-
ties of Audi and/or
part of target achievement. In 2022, further currently unavoidable
sustainability indicators will be included in the CO₂ emissions within
remuneration systems, such as “taxonomy- the scope of the supply
chain, manufacturing
aligned” revenue shares according to the EU and recycling of Audi

Markets &
Products
taxonomy. For Audi, however, ESG goes vehicles, at least
beyond pure measures to reduce CO2 quantitative compen-
sation is provided
emissions; it is considered holistically within through voluntary and
the company. globally conducted
compensation projects.
For more transparency and comparability with

Financial KPIs
Throughout the uti-

Audi Group
competitors, Audi not only publishes its lization phase of a
Combined Annual and Sustainability Report vehicle, meaning from
when a vehicle is
and discloses voluntarily within the framework delivered to a custo-
of the EU taxonomy but will also face the ESG mer, CO₂ emissions
rating of an independent rating agency in the produced are not taken
Audi is convinced that economic success is By 2025, this will apply to all Audi plants.

Brand Group
into account.
near future.

Premium
inextricably linked to the exercise of social and Through the Decarbonization Index2 (DCI for
2 The decarbonization
ecological responsibility. It is the aim to match short), Audi focuses on CO2 emissions along index (DCI) measures
these objectives even more closely. In doing the entire automotive value chain – from raw the average emissions
of CO₂ and CO₂ equiva-
so, the Four Rings want to take over material extraction and production to driving
lents over the entire life
responsibility for ESG and to differentiate and recycling. cycle of the Audi
from competitors. passenger car portfolio
By 2030, the DCI is to be reduced by 40 and is stated in metric

ESG
Starting in 2026, Audi will only launch new all- percent compared with the reference year tons of CO₂ per vehicle.
electric models on the global market. From 2018. It includes both direct
and indirect CO₂
2027, the company will offer electric models
Sustainability in the value chain is crucial for emissions at the
in all core segments. individual vehicles
Audi: A positive Sustainability Rating
(Scope 1 and 2) as well
However, Audi activities go far beyond the (S-Rating), which was introduced at Audi in

Facts
as all further direct and
electrification of vehicles: Production at 2019, is a prerequisite for awarding a contract indirect CO2 emissions
several Audi sites is already net carbon- to suppliers. over the vehicles’ life
cycle (Scope 3).
neutral.1
 22 Quarterly Update H1/2022 Audi Group

EU taxonomy

Overview
Audi voluntarily reports KPIs in accordance with the EU taxonomy regulation

From eligible to aligned activities1 Revenue1 Capital expenditure1 Operating expenditure1

FY 21
H1/22
in €bn, in % of total in €bn, in % of total in €bn, in % of total

Highlights &
Milestones
STEP 1 Eligibility 8.8%
3.5% 100% 33.5% 100% 17.6%
An economic activity is considered taxonomy-
eligible if it is listed in the EU taxonomy and 82.4%
can potentially contribute to at least one of
12.3% 41.3% 33.4%
the 6 environmental objectives, e.g. climate

Markets &
taxonomy- taxonomy-

Products
change mitigation. taxonomy-
aligned aligned aligned 15.8%
STEP 2 Screening criteria

Screening criteria for the defined economic

7.8%
activity have to be met, e.g. CO2 emissions of

Financial KPIs
Audi Group
€29.9bn €4.0bn €2.5bn
0 g/km (BEV) or <50 g/km (PHEV).
(100%) (100%) (100%)
STEP 32 “DNSH” criteria

Do-No-Significant-Harm (DNSH) criteria for

Of the Audi Group’s total Of the Audi Group’s total Of the Audi Group’s total
the defined economic activity have to be met,
revenue (incl. Bentley), capex (excl. Bentley), opex (excl. Bentley),

Brand Group
e.g. by the production process or the product

Premium
itself. The criteria include the prevention of − €24.6bn, or 82.4%, was − €4.0bn, or 100%, was − €2.5bn, or 100%, was
any substantial harm to the environmental taxonomy-eligible taxonomy-eligible capex taxonomy-eligible opex
objectives like climate change adaption, or revenue
− €1.6bn, or 41.3%, was − €0.8bn, or 33.4%, was
pollution prevention, among others. − €3.7bn, or 12.3%, was taxonomy-aligned capex taxonomy-aligned opex 1 For further informa-
taxonomy-aligned tion and definitions,
Compliance with minimum
STEP 42 safeguards please refer to the Audi
revenue Report 2021 p. 50.

ESG
Activity has to be carried out in compliance The taxonomy-aligned 2 Checks for steps 3 and
with the minimum safeguards, e.g. human revenue contains 4 are only conducted
rights, social and labor standards. once a year in
− €2.6bn, or 8.8%, revenue preparation for the FY
STEPS 1 – 4 ✓ Alignment which was attributable to figures
the BEV models3

Facts
An activity is only considered environmentally 3 For further information
sustainable, i.e. taxonomy-aligned, if it meets on the BEV share please
refer to the deliveries
all requirements mentioned above from step 1 page
to step 4. taxonomy-eligible not taxonomy-eligible taxonomy-aligned BEV-related PHEV-related
 23 Quarterly Update H1/2022 Audi Group

ESG – Environment (E)

Overview
Measurable progress – how Audi reduces the ecological footprint

Pilot project started: Faulty car glass to be Independent initiative confirms tougher
turned into new windowpanes for the climate targets

Highlights &
Milestones
Audi Q4 e-tron

Faulty car windows often go in the trash bin when the The Science Based Target initiative (SBTi) assessed the
cracked part cannot be fixed. A closed material circuit climate targets of the Volkswagen Group and all its
does not yet exist for damaged car glass. brands for the first time in September 2020. The

Markets &
result was that these are in line with the requirements

Products
This is where Audi and its partner companies Reiling
of the Paris Climate Agreement and make a
Glas Recycling, Saint-Gobain Glass, and Saint-Gobain
contribution to to limit global warming to well below
Sekurit are now doing pioneering work as part of a
2 degrees Celsius.
joint pilot project.
Now another study has been conducted. It measured

Financial KPIs
The partner companies want to turn the damaged

Audi Group
and confirmed that the Volkswagen Group, with its
auto glass into recyclable material for model
revised targets and plans in production and energy
production and have drawn up a multi-stage process
supply, can also achieve the conditions for a global
for that purpose:
warming limit of 1.5 degrees.
Using an innovative recycling process, the car windows
are first broken into small pieces. Then all the non- Among other things, the new plans envisage reducing

Brand Group
Premium
glass impurities like glue residue are eliminated. The CO2 emissions in production by 50 percent by 2030
resulting glass granulate is melted down and turned compared with 2018. By next year, Volkswagen Group
into new plate glass. That plate glass is then turned intends to obtain its energy entirely from renewable
into a new car window. energies at locations in the EU. In 2030, this is to
apply to locations worldwide outside of China.
In the past, post-consumer glass from cars has not
→ read more
been used in plate glass production, but rather for

ESG
different purposes with less rigorous requirements.
That is where the joint project begins: The partner
companies want to recycle the damaged glass back to
original quality.
1.5 degree
target

Facts
If this pilot is successful, the windows that are
produced this way will be used in models in the Audi
Q4 e-tron series in the future. → read more
 24 Quarterly Update H1/2022 Audi Group

ESG – Social & workforce (S)

Overview
Employees benefit from attractive offers and investment in know-how

Workforce Audi Group Audi is designing a hybrid Age structure

Average for the year working world FY 2021, AUDI AG, excluding apprentices

Highlights &
Milestones
1-6/2022 1–6/2021 in % Audi is expanding its hybrid work
model. After the pandemic, the < 30 years 12.1%

Domestic companies1 56, 265 57,064 –1.4

working world will be a mix of remote 30-50 years 56.4%
and on-site work. Together with the
Foreign companies2 29,709 26,389 12.6
Works Council, the in-house Better > 50 years 31.5%

Markets &
Products
Employees 85,974 83,453 3.0 Normal project is developing
Apprentices 2,208 2,167 1.9 solutions for every division of the
Average age
Employees of Audi Group company, also for areas where
companies
88,182 85,620 3.0 FY 2021 AUDI AG, excluding apprentices
remote work is not possible. That is and fixed-term employees
Staff employed from other
how Audi is continuously promoting

Financial KPIs
Volkswagen Group companies not 453 453 0.0 42.3

Audi Group
41.5 41.8
belonging to the Audi Group the company’s digital trans- years
years years
Workforce Audi Group 88,635 86,073 3.0 formation. → read more

“Vorsprung 2030” in dialogue with stakeholders

Brand Group
Premium
As part of this year’s GREENTECH FESTIVAL in Berlin, Audi 2019 2020 2021
hosted an on-site stakeholder dialogue event. The dialogue
allowed Audi to receive feedback from external stakeholders Proportion of women
15.4
(in percent, Audi Group) 1 Of these employees,
and experts on Audi’s new “Vorsprung 2030” strategy in 2,106 (2,176) were in
relation to (e-)mobility and circular economy. the passive stage of
Turnover rate their partial
The participants discussed the necessity to address mobility and (in percent, excl. apprentices,

0.7
retirement.

ESG
average figure for the year)
infrastructure issues in urban areas and adapt business models 2 The figure for the
to include Mobility-as-a-Service concepts. Furthermore, Average length of service current year includes
3,949 Bentley
impulses on circular economy stressed the importance of a (in years, excl. apprentices)

holistic approach, starting with the concept development stage. 18.7 employees (not
included in Audi Group
Feedback on Audi’s stakeholder engagement process confirmed Average training time figures H1/2021).

Facts
the importance of regular exchanges to gain new perspectives per employee 3 Live online or face-to-
and make informed decisions.
(in hours, indirect employees)
9.1 face training, excluding
web-based training.
 25 Quarterly Update H1/2022 Audi Group

ESG – Governance (G)

Overview
Life Cycle Assessment (LCA): The entire life of a car in view

Highlights &
Milestones
Thinking consistently from start to But how is a life cycle assessment The results of the LCA are one part of Coming later this year
finish: The life cycle assessment of a prepared? Modern vehicles comprise the basis for Audi’s decarbonization
vehicle shows where its environmental 3,000 to 5,000 components – and LCA strategy and efforts. Therefore, the Publication of life cycle assessment for
footprint arises. This analysis helps experts analyze each of these based on LCAs are an important transparency Audi BEV models
Audi develop measures to move the bill of material and the material creating instrument.

Markets &
Products
forward quickly towards carbon- data. Additionally, all work steps » Audi e-tron 55 quattro
The life cycle assessments are
neutral mobility. required in production are recorded, as » Audi Q4 40 e-tron
published on a regular basis. The
are their environmental impacts. » Audi e-tron GT quattro
While the general public tends to already existing life cycle assessments
assess the sustainability of cars on the This information is used to create a at Audi can be found here.
and further ICE and PHEV models.

Financial KPIs
basis of their fuel consumption, Audi huge database that is the basis for the

Audi Group
New life cycle assessment publications
considers much more than just the CO₂ life cycle assessment, which is
are in the making and will be published
emissions created during driving. In conducted according to the standard
soon.
order to be a role model with regard to ISO 14040 ff.
the environment, the company aims to
offer everyone mobility that The life of a car

Brand Group
Premium
has as low impact on nature as
possible. This is why Audi is working
towards making its products and
services environmentally friendly
throughout all areas of the value chain
and across the entire life cycle of a

ESG
vehicle.

Facts
 26 Quarterly Update H1/2022 Audi Group

Audi corporate strategy

Overview
New strategy “Vorsprung 2030” sets the course for the coming years

Highlights &
Milestones
At the top of the “Vorsprung 2030” strategy stands the purpose of Audi: “Meaningful
Purpose technology to keep the world in motion.”
It is based on the ambition to sell more than three million vehicles per year from 2030
onwards.

Ambition This is backed by clear strategic targets, such as an ROS of more than

Markets &
Products
11 percent from 2030 on, and a clear plan for phasing out combustion engines.
Strategic fields of action (SFA) define the way there. Audi defined six SFAs including, for
example, “the last internal combustion engine,” “differentiated BEVs” or
Strategic Targets “ESG performance.”

Financial KPIs
Audi Group
In the future, ESG (Environment – Social – Governance) aspects are to play an even more
important role in all decisions made by Audi, as well as in its products and services. The
Four Rings want to take over responsibility for ESG and to differentiate from competitors.
Strategic Fields of Action
The main ESG criteria are climate protection, the use of finite resources, employee health
and safety and the perception of social responsibility. Another consideration is the

Brand Group
Premium
robustness of Audi’s corporate governance, for example in terms of compliance and risk
management.
People &
Culture The new corporate strategy is based on a foundation made up of Operational Excellence,
Operational Financial Financial Performance and People & Culture, which focuses on employees as a central
Excellence Performance element.

ESG
AMBITION/
ROS

last >11%
started
2026

STRATEGIC TARGETS
>21%
ROI

ICE

Facts
by 2030
 27 Quarterly Update H1/2022 Audi Group

Production sites

Overview
Volkswagen Group synergies enable global manufacturing footprint for the Audi Group

Audi brand Lamborghini Bentley

Highlights &
Milestones
1 Ingolstadt, Germany 2 Neckarsulm, Germany 8 Sant’Agata Bolognese, Italy 10 Crewe, United Kingdom
AUDI AG AUDI AG, Audi Sport GmbH Crewe, United Kingdom Automobili Lamborghini S.p.A. Bentley Motors Ltd.
Q2, SQ2, A3 Sedan, A4 Sedan, Aventador Coupé, Continental, Bentayga, Flying Spur
A3 Sportback, S3 Sedan, A5 Cabriolet, S5 Cabriolet, Zwickau, Germany Aventador Roadster,
S3 Sportback, RS 3 Sportback, A6 Avant, A6 Sedan, Huracán Coupé,
RS 3 Sedan, A4 Avant, S6 Avant, S6 Sedan,
11 Kaluga, Russia Huracán Spyder, Urus
10
A4 Sedan, S4 Sedan, RS 6 Avant, A7 Sportback,
S4 Avant, RS 4 Avant, S7 Sportback, RS7 Sportback, 3 Bratislava, Slovakia
Brussels, Belgium 5

Markets &
Products
A5 Coupé, A5 Sportback, A8, A8 L, S8, S8 L, 2 1 6
Neckarsulm, Germany 4 Győr, Hungary Changchun, China 12
S5 Coupé, S5 Sportback, R8 Coupé, R8 Spyder,
RS 5 Coupé, RS 5 Sportback e-tron GT quattro, RS e-tron GT Ingolstadt, Germany
8
9
Sant’Agata Bolognese, Italy Tianjin, China
3 Brussels, Belgium 4 Győr, Hungary 7 Bologna, Italy 13

Audi Brussels S.A./N.V. Audi Hungaria Zrt. Martorell, Spain 14

Quingdao, China
e-tron, e-tron Sportback, TT Coupé, TT Roadster, TTS Coupé,

Financial KPIs
e-tron S, e-tron S Sportback TTS Roadster, TT RS Coupé,

Audi Group
15
TT RS Roadster, Q3,
Q3 Sportback, RS Q3, Anting, China
RS Q3 Sportback
ATLANTIC
16
19 San José Chiapa, Mexico
OCEAN 18 Foshan, China
5 Zwickau, Germany Aurangabad, India

Brand Group
Volkswagen AG

Premium
17
Q4 e-tron, Q4 e-tron Sportback
13 Tianjin, China Amphur Pluakdaeng, Thailand
6 Bratislava, Slovakia
FAW-Volkswagen
Volkswagen Slovakia, a.s.
Automotive Co., Ltd.
Q7, SQ7, Q8, SQ8, RS Q8
Q3, Q3 Sportback

Manaus, Brazil 20 7 Martorell, Spain 14 Quingdao, China INDIAN

SEAT, S.A. Ducati
FAW-Volkswagen
18 Aurangabad, India OCEAN
PACIFIC A1 allstreet, A1 Sportback,
Automotive Co., Ltd.

ESG
RS 3 Sedan ŠKODA AUTO Volkswagen 9 Bologna, Italy 17 Amphur Pluakdaeng, Thailand
A3 Sedan, A3 Sportback
India Private Limited
OCEAN 11 Kaluga, Russia 15 Anting, China A4 Sedan, A6 Sedan, Q5, Q7
Ducati Motor Holding S.p.A.
DesertX, Diavel, Hypermotard,
Ducati Motor (Thailand) Co., Ltd.
Diavel, Hypermotard, Monster,
Volkswagen Group RUS SAIC Volkswagen Monster, Multistrada, Panigale, Multistrada, Panigale, Scrambler,
no production Automotive Co., Ltd. 19 San José Chiapa, Mexico Scrambler, Streetfighter, SuperSport Streetfighter, SuperSport
São José dos Pinhais, Brazil Q5 e-tron, A7 L Sedan Audi México S.A. de C.V.
20 Manaus, Brasil
21 Q5, SQ5, Q5 Sportback, SQ5 Sportback
12 Changchun, China 16 Foshan, China DUCATI DAFRA da Amazônia

Facts
FAW-Volkswagen FAW-Volkswagen 21 São José dos Pinhais, Brazil Indústria e Comércio de
Automotive Co., Ltd. Automotive Co., Ltd. Audi do Brasil Indústria e Motocicletas Ltda.
A4 L Sedan, A6 L Sedan, Q5 L, Q2 L, Q2 L e-tron Comércio de Veículos Ltda Diavel, Multistrada, Scrambler,
Q5 L Sportback, e-tron Q3, Q3 Sportback Streetfighter
 28 Quarterly Update H1/2022 Audi Group

Product portfolio

Overview
Audi, Lamborghini, Bentley and Ducati cover a broad portfolio.

Audi1 Lamborghini2 Bentley3

excluding models offered only on the Chinese market excluding limited series excluding limited series

Highlights &
Milestones
BEV
PHEV
ICE
Urus 1 Bentayga
2 e-tron GT 2 e-tron

Markets &
Products
Huracán Continental
A1 1 A3 A4

Financial KPIs
Audi Group
1 Audi model range in
the German market,
Aventador 1 Flying Spur consumption and
A5 2 A6 1 A7 emission figures and
current detailed
portfolio overview

Brand Group
Ducati4

Premium
available online.

2 Consumption and
emission figures and
2 A8 R8 TT current detailed
Diavel XDiavel Hypermotard Monster portfolio overview
available online.

3 Bentley was

ESG
consolidated as of
Q2 2 Q3 2 Q4 e-tron January 1, 2022;
consumption and
Multistrada Panigale SuperSport Scrambler emissions figures and
current detailed
portfolio overview
available online.

Facts
2 Q5 1 Q7 1 Q8 4 Current detailed
Streetfighter DesertX e-bikes portfolio overview
available online.
 29 Quarterly Update H1/2022 Audi Group

Financial calendar

Overview
Dates of financial publications in 2022

Highlights &
Milestones
Markets &
Products
Financial KPIs
Audi Group
Brand Group
Premium
Third Quarter 2022

ESG
October 28, 2022

Facts
 30 Quarterly Update H1/2022 Audi Group

Disclaimer

Overview
Disclaimer

Highlights &
Milestones
The current presentations as well as remarks/comments and explanations in this
context contain forward-looking statements on the business development of the Audi
Group. These statements are based on assumptions relating to the development of

Markets &
the economic, political and legal environment in individual countries, economic

Products
regions and markets, and in particular for the automotive industry, which we have
made on the basis of the information available to us and which we consider to be
realistic at the time of going to press. The estimates given entail a degree of risk, and
actual developments may differ from those forecast.

Financial KPIs
Audi Group
At the time of preparing these presentations, it is not yet possible to conclusively
assess the specific effects of the latest developments of the Russia-Ukraine conflict
on the Audi Group’s business, nor is it possible to predict with sufficient certainty to
what extent further escalation of the Russia-Ukraine conflict will impact on the global
economy and growth in the industry in fiscal year 2022.

Brand Group
Premium
Any changes in significant parameters relating to our key sales markets, or any
significant shifts in exchange rates or commodities relevant to the Audi Group or the
supply with parts (especially semiconductors), or deviations in the actual effects of
the Covid-19 pandemic from the scenario presented will have a corresponding effect
on the development of our business. In addition, there may be departures from our
expected business development if the assessments of the factors influencing

ESG
sustainable 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 be superseded.

Facts
This information does not constitute an offer to exchange or sell or an offer to
exchange or buy any securities.
 31 Quarterly Update H1/2022 Audi Group

Disclaimer

Overview
DAT disclaimer

Highlights &
Milestones
The stated consumption and emission values were determined according to the
legally prescribed measurement methods. On January 1, 2022, the WLTP test cycle
completely replaced the NEDC test cycle, which means that no NEDC values are

Markets &
available for newly type-approved vehicles after that date.

Products
The information does not refer to a single vehicle and is not part of the offer, but is
solely for comparison purposes between the different vehicle types. Additional
equipment and accessories (add-on parts, tire format, etc.) can change relevant
vehicle parameters such as weight, rolling resistance and aerodynamics and, in

Financial KPIs
Audi Group
addition to weather and traffic conditions as well as individual driving behavior,
influence the fuel consumption, power consumption, CO2 emissions and driving
performance values of a vehicle.
Due to the more realistic test conditions, the fuel consumption and CO2 emission
values measured according to the WLTP are in many cases higher than those

Brand Group
Premium
measured according to the NEDC. As a result, there may be corresponding changes in
vehicle taxation since September 1, 2018. For more information about the
differences between WLTP and NEDC, see www.audi.de/wltp.
Further information on official fuel consumption figures and the official specific CO₂
emissions of new passenger cars can be found in the “Guide on the fuel economy, CO₂
emissions and power consumption of all new passenger car models,” which is

ESG
available free of charge at all sales dealerships and from DAT Deutsche Automobil
Treuhand GmbH, Hellmuth-Hirth-Str. 1, 73760 Ostfildern-Scharnhausen, Germany
(www.dat.de).

Facts