docShareholdings of Volkswagen AG and the Volkswagen Group
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Shareholdings of Volkswagen AG and the Volkswagen Group
VOLKSWAGEN AKTIENGESELLSCHAFT Shareholdings of Volkswagen AG and the Volkswagen Group in accordance with sections 285 and 313 of the HGB and presentation of the companies included in Volkswagen’s consolidated financial statements in accordance with IFRS 12 as of December 31, 2015 Name and domicile of company I. PARENT COMPANY VOLKSWAGEN AG, Wolfsburg II. SUBSIDIARIES A. Consolidated companies 1. Germany ASB Autohaus Berlin GmbH, Berlin AUDI AG, Ingolstadt Audi Berlin GmbH, Berlin Audi Electronics Venture GmbH, Gaimersheim Audi Frankfurt GmbH, Frankfurt am Main Audi Hamburg GmbH, Hamburg Audi Hannover GmbH, Hanover AUDI Immobilien GmbH & Co. KG, Ingolstadt Audi Leipzig GmbH, Leipzig Audi München GmbH, Munich Audi Stuttgart GmbH, Stuttgart Audi Zentrum München GmbH, Munich Auto & Service PIA GmbH, Munich Autostadt GmbH, Wolfsburg AutoVision GmbH, Wolfsburg B. + V. Grundstücks- Verwaltungs- und Verwertungs-GmbH, Koblenz B. + V. Grundstücksverwertungs-GmbH & Co. KG, Koblenz Brandenburgische Automobil GmbH, Potsdam Bugatti Engineering GmbH, Wolfsburg Dr. Ing. h.c. F. Porsche AG, Stuttgart Driver Eight GmbH, in Liquidation, Frankfurt am Main Driver Eleven GmbH, Frankfurt am Main Driver Nine GmbH, in Liquidation, Frankfurt am Main Driver Ten GmbH, Frankfurt am Main Driver thirteen UG (haftungsbeschränkt), Frankfurt am Main Driver Twelve GmbH, Frankfurt am Main Ducati Motor Deutschland GmbH, Cologne Eberhardt Kraftfahrzeug GmbH & Co. KG, Ulm Eurocar Deutschland Verwaltungs GmbH, Munich EURO-Leasing GmbH, Sittensen GETAS Verwaltung GmbH & Co. Objekt Augsburg KG, Pullach i. Isartal GETAS Verwaltung GmbH & Co. Objekt Ausbildungszentrum KG, Pullach i. Isartal GETAS Verwaltung GmbH & Co. Objekt Heinrich-von-Buz-Straße KG, Pullach i. Isartal GETAS Verwaltung GmbH & Co. Objekt Offenbach KG, Pullach i. Isartal GETAS Verwaltung GmbH & Co. Objekt Verwaltung Nürnberg KG, Pullach i. Isartal Haberl Beteiligungs-GmbH, Munich Held & Ströhle GmbH & Co. KG, Ulm HI-S 5-Fonds, Frankfurt am Main HI-TV-Fonds, Frankfurt am Main Invesco Fonds Nr. 140, Frankfurt am Main Karosseriewerk Porsche GmbH & Co. KG, Stuttgart KOSIGA GmbH & Co. KG, Pullach i. Isartal M A N Verwaltungs-Gesellschaft mbH, Munich MAHAG Automobilhandel und Service GmbH & Co. oHG, Munich MAHAG GmbH, Munich MAHAG Sportwagen Zentrum Albrechtstraße GmbH, Munich MAHAG Sportwagen Zentrum München Süd GmbH, Munich MAHAG Sportwagen-Zentrum GmbH, Munich MAN Diesel & Turbo SE, Augsburg MAN Finance International GmbH, Munich MAN Financial Services GmbH, Munich MAN GHH Immobilien GmbH, Oberhausen MAN Grundstücksgesellschaft mbH & Co. Alpha KG, Munich MAN Grundstücksgesellschaft mbH & Co. Beta KG, Munich MAN Grundstücksgesellschaft mbH & Co. Epsilon KG, Munich MAN HR Services GmbH, Munich MAN SE, Munich MAN Service und Support GmbH, Munich MAN Truck & Bus AG, Munich MAN Truck & Bus Deutschland GmbH, Munich Mieschke, Hofmann und Partner Gesellschaft für Management und IT- Beratung mbH, Ludwigsburg POFIN Financial Services GmbH & Co. KG, Freilassing POFIN Financial Services Verwaltungs GmbH, Freilassing PoHo Clearing GmbH, Freilassing Porsche Connect GmbH, Stuttgart Porsche Consulting GmbH, Bietigheim-Bissingen Porsche Deutschland GmbH, Bietigheim-Bissingen Porsche Dienstleistungs GmbH, Stuttgart Porsche Engineering Group GmbH, Weissach Porsche Engineering Services GmbH, Bietigheim-Bissingen Porsche Financial Services GmbH & Co. KG, Bietigheim-Bissingen Porsche Financial Services GmbH, Bietigheim-Bissingen Porsche Financial Services Verwaltungsgesellschaft mbH, Bietigheim-Bissingen Porsche Holding Stuttgart GmbH, Stuttgart Porsche Leipzig GmbH, Leipzig Porsche Lizenz- und Handelsgesellschaft mbH & Co. KG, Ludwigsburg Porsche Logistik GmbH, Stuttgart Porsche Niederlassung Berlin GmbH, Berlin Porsche Niederlassung Berlin-Potsdam GmbH, Kleinmachnow Porsche Niederlassung Hamburg GmbH, Hamburg Porsche Niederlassung Leipzig GmbH, Leipzig Exchange rate (€1 =) Currency Dec. 31, 2015 VW AG's interest in capital in % Direct Indirect Total Equity in thousands, local currency Profit/loss in thousands, local currency Footnote Year EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR 99.55 100.00 100.00 100.00 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 98.59 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 70.30 100.00 100.00 100.00 94.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 74.35 100.00 100.00 100.00 100.00 99.55 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 98.59 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 70.30 100.00 100.00 100.00 100.00 94.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 74.35 100.00 100.00 100.00 12,480 10,097,199 6,625 32,018 8,477 13,425 15,734 85,028 9,525 270 6,677 325 19,895 50 37,630 96 8,360 4,556 25 7,927,763 26 25 25 25 5 25 8,063 512 45,143 20,203 2,038 26 10 26 26 16,174 2,915 90,945 1,534 25 997 93,674 118,738 100 3,205 5,056 613,347 105,000 48,508 42,111 5,124 47,756 623 50 2,125,389 25 563,438 130,934 1,222 1,209 4,352 5 1,615 4 1,208 2,110 2 -94 319 -27 694 705 2,614 1,780 68 700 16,000 -1,862 -496 736 - EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR 100.00 - 81.80 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 65.00 100.00 100.00 100.00 100.00 100.00 81.80 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 65.00 100.00 100.00 100.00 100.00 100.00 24,329 92,232 87,233 34 23 700 9,125 43 4,000 1,601 87,512 24,052 82 9,459,762 2,500 -28,660 1,000 2,500 1,700 2,000 500 23,711 1,306 217 4 7,977 5 -40,371 - 1) 14) 1) 1) 1) 1) 1) 1) 1) 1) 1) 5) 1) 1) 1) 1) 1) 2) 16) 16) 2) 16) 16) 6) 16) 4) 16) 1) 1) 16) 16) 16) 1) 1) 14) 1) 1) 1) 1) 14) 1) 1) 1) 1) 1) 1) 1) 14) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 2014 2014 2014 2015 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2015 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2014 2014 2015 2014 2015 2015 2015 2015 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 Name and domicile of company Porsche Niederlassung Stuttgart GmbH, Stuttgart Porsche Nordamerika Holding GmbH, Ludwigsburg Porsche Siebte Vermögensverwaltung GmbH, Wolfsburg Porsche Verwaltungsgesellschaft mit beschränkter Haftung, Ludwigsburg Porsche Zentrum Hoppegarten GmbH, Stuttgart Private Driver 2010-1 fixed GmbH, in Liquidation, Frankfurt am Main Private Driver 2011-1 GmbH, in Liquidation, Frankfurt am Main Private Driver 2011-2 GmbH, in Liquidation, Frankfurt am Main Private Driver 2011-3 GmbH, in Liquidation, Frankfurt am Main Private Driver 2012-1 GmbH, Frankfurt am Main Private Driver 2012-2 GmbH, Frankfurt am Main Private Driver 2012-3 GmbH, Frankfurt am Main Private Driver 2013-1 UG (haftungsbeschränkt), Frankfurt am Main Private Driver 2013-2 UG (haftungsbeschränkt), Frankfurt am Main Private Driver 2014-1 UG (haftungsbeschränkt), Frankfurt am Main Private Driver 2014-2 UG (haftungsbeschränkt), Frankfurt am Main Private Driver 2014-3 UG (haftungsbeschränkt), Frankfurt am Main Private Driver 2014-4 UG (haftungsbeschränkt), Frankfurt am Main Private Driver 2015-1 UG (haftungsbeschränkt), Frankfurt am Main PSW automotive engineering GmbH, Gaimersheim quattro GmbH, Neckarsulm Raffay Versicherungsdienst GmbH, Hamburg Renk Aktiengesellschaft, Augsburg RENK Test System GmbH, Augsburg Scania CV Deutschland Holding GmbH, Koblenz Scania Danmark GmbH, Flensburg SCANIA DEUTSCHLAND GmbH, Koblenz Scania Finance Deutschland GmbH, Koblenz Scania Flensburg GmbH, in Liquidation, Flensburg SCANIA Real Estate Deutschland GmbH, Koblenz SCANIA Real Estate Deutschland Holding GmbH, Koblenz Scania Versicherungsvermittlung GmbH, Koblenz SCANIA Vertrieb und Service GmbH, Kerpen SCANIA Vertrieb und Service GmbH, Koblenz Schwaba GmbH, Augsburg SEAT Deutschland GmbH, Weiterstadt SEAT Deutschland Niederlassung GmbH, Frankfurt am Main SITECH Sitztechnik GmbH, Wolfsburg SKODA AUTO Deutschland GmbH, Weiterstadt Sportwagen am Olympiapark GmbH, Munich Sportwagen GmbH Donautal, Ulm VfL Wolfsburg-Fußball GmbH, Wolfsburg VGRD GmbH, Wolfsburg Volim Volkswagen Immobilien Vermietgesellschaft für VW-/Audi-Händlerbetriebe mbH, Braunschweig Volkswagen Automobile Berlin GmbH, Berlin Volkswagen Automobile Chemnitz GmbH, Chemnitz Volkswagen Automobile Frankfurt GmbH, Frankfurt am Main Volkswagen Automobile Hamburg GmbH, Hamburg Volkswagen Automobile Hannover GmbH, Hanover VOLKSWAGEN Automobile Leipzig GmbH, Leipzig Volkswagen Automobile Region Hannover GmbH, Hanover Volkswagen Automobile Rhein-Neckar GmbH, Mannheim Volkswagen Automobile Stuttgart GmbH, Stuttgart Volkswagen Bank GmbH, Braunschweig VOLKSWAGEN FINANCIAL SERVICES AG, Braunschweig Volkswagen Financial Services Beteiligungsgesellschaft mbH, Braunschweig Volkswagen Gebrauchtfahrzeughandels und Service GmbH, Langenhagen Volkswagen Group Logistics GmbH, Wolfsburg Volkswagen Group Real Estate GmbH & Co. KG, Wolfsburg Volkswagen Immobilien GmbH, Wolfsburg Volkswagen Insurance Brokers GmbH, Braunschweig Volkswagen Konzernlogistik GmbH & Co. OHG, Wolfsburg Volkswagen Leasing GmbH, Braunschweig Volkswagen Original Teile Logistik Beteiligungs-GmbH, Baunatal Volkswagen Original Teile Logistik GmbH & Co. KG, Baunatal Volkswagen Osnabrück GmbH, Osnabrück Volkswagen R GmbH, Wolfsburg Volkswagen Sachsen GmbH, Zwickau Volkswagen Truck & Bus GmbH, Braunschweig Volkswagen Versicherung AG, Braunschweig Volkswagen Vertriebsbetreuungsgesellschaft mbH, Chemnitz Volkswagen Zubehör GmbH, Dreieich Volkswagen-Versicherungsdienst GmbH, Braunschweig VW Kraftwerk GmbH, Wolfsburg 2. International AB Dure, Södertälje AB Folkvagn, Södertälje AB Scania-Vabis, Södertälje ABCIS Bretagne S.A.S., Plouigneau ABCIS Centre S.A.S., Clermont-Ferrand ABCIS Picardie S.A.S., Saint-Maximin ABCIS Pyrénées S.A.S., Billère ABS Francorchamps SPRL, Zaventem Aconcagua Vehículos Comerciales S.A., Buenos Aires Ainax AB, Stockholm Airbug Ltd., George Town Aktiebolaget Tönseth & Co, Södertälje Alizé Automobiles S.A.R.L., Aubière ARAC GmbH, Salzburg Astur Wagen, S.A., Gijón Audi (China) Enterprise Management Co., Ltd., Beijing Audi Australia Pty. Ltd., Zetland Audi Australia Retail Operations Pty. Ltd., Zetland Exchange rate (€1 =) Currency Dec. 31, 2015 VW AG's interest in capital in % Direct Indirect Total Equity in thousands, local currency Profit/loss in thousands, local currency Footnote Year 1) 1) 1) 2015 2015 2014 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2014 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR 100.00 100.00 100.00 100.00 65.00 100.00 97.00 100.00 100.00 76.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 - 100.00 100.00 100.00 65.00 100.00 97.00 100.00 100.00 76.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 2,500 58,311 636,919 36 2,556 26 26 25 25 25 25 25 5 5 5 5 5 5 5 32,400 100 153 300,838 7,300 57,943 270 36,625 46,409 392 3,852 9,695 147 2,689 5,476 19,790 60,017 272 81,330 24,119 6,146 2,605 30,973 282,939 1 7,748 34,219 2,252 30,373 28 4,597 -141 832 1,304 146 336 7,738 23 7,462 22,074 - EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR 100.00 100.00 100.00 81.00 49.80 50.87 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 19.00 100.00 3.80 3.88 100.00 100.00 100.00 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 53.60 54.75 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 26 17,496 6,439 2,979 35,371 20,359 13,805 7,525 8,610 5,174 4,289,684 7,506,495 523,001 603 1,523 350,351 134,169 54,829 511 231,009 30 47,000 10,511 7,900 672,503 12,328,834 97,055 805 8,969 54,369 219,914 3,356 448 767 200 14,024 260,834 0 91,765 - 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 1,440 100 100 1,882 7,635 7,463 7,190 45,925 120 9,715 356 2,977 2,082 1,142,933 133,269 8,366 85 691 741 626 6,751 920 114 -246 34 206,599 13,921 -2,326 5) 5) 5) SEK SEK SEK EUR EUR EUR EUR EUR ARS SEK USD SEK EUR EUR EUR CNY AUD AUD 9.1895 9.1895 9.1895 14.1351 9.1895 1.0887 9.1895 7.0608 1.4897 1.4897 1) 2) 16) 2) 16) 2) 16) 2) 16) 16) 16) 16) 16) 16) 4) 16) 4) 16) 16) 4) 16) 6) 16) 1) 1) 5) 1) 2) 1) 1) 1) 1) 1) 3) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 1) 6) 5) 11) 15) 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2014 2014 2014 2014 2015 2014 2015 2014 2015 2014 2014 2014 2014 2015 2015 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 Name and domicile of company Audi Brussels Property S.A./N.V., Brussels Audi Brussels S.A./N.V., Brussels Audi Canada, Inc., Ajax / ON Audi do Brasil Indústria e Comércio de Veículos Ltda., São Paulo Audi Hungaria Motor Kft., Győr Audi Hungaria Services Zrt., Győr Audi Japan K.K., Tokyo Audi Japan Sales K.K., Tokyo Audi Luxemburg S.A., Luxembourg Audi México S.A. de C.V., San José Chiapa Audi of America, LLC, Herndon / VA Audi Retail BCN, S.A., Barcelona Audi Retail Madrid, S.A., Madrid Audi Singapore Pte. Ltd., Singapore Audi Tooling Barcelona, S.L., Martorell Audi Volkswagen Korea Ltd., Seoul Audi Volkswagen Middle East FZE, Dubai Audi Volkswagen Taiwan Co., Ltd., Taipei Auto Doetinchem B.V., Doetinchem Auto Garage de l'Ouest S.A.S., Orvault Auto Losange Metz S.A.S., Metz Autohaus Robert Stipschitz GmbH, Salzburg Autolille S.A.S., Villeneuve d'Ascq Automobili Lamborghini America, LLC, Herndon / VA Automobili Lamborghini S.p.A., Sant'Agata Bolognese Automotores del Atlantico S.A., Buenos Aires Banco Volkswagen S.A., São Paulo Basa S.A.S., Niort Bavaria Concept S.A.S., Seclin Bawaria Motors Sp. z o.o., Warsaw Bayern Aix S.A.S., Aix-en-Provence Bayern Automobiles S.A.S., Mérignac Bayern Landes Pays Basque S.A.S., Bayonne Bayern Motors S.A.S., Paris Beauciel Automobiles S.A.S., La Chaussée-Saint-Victor Beijing Junbaojie Automobile Repair and Maintenance Co., Ltd., Beijing Beijing Junbaojie Automobile Sales and Service Co., Ltd., Beijing Beijing Junbaojie Automobile Trade Co., Ltd., Beijing Bentley Motor Cars Export Ltd., Crewe Bentley Motors Canada Ltd./Ltee., Montreal / QC Bentley Motors Ltd., Crewe Bentley Motors, Inc., Boston / MA Blitz Motors S.A.S., Paris Bohemia Motors Sp. z o.o., Falenty Bugatti Automobiles S.A.S., Molsheim Bugatti International S.A., Luxembourg Carlier Automobiles S.A.S., Lambres-lez-Douai Carrera Finance S.A., Luxembourg Carrosserie de l'Escaut S.A., Tournai Centro Porsche Padova S.r.l., Padua Centro Técnico de SEAT, S.A., Martorell Centurion Truck & Bus (Pty) Ltd. t/a, Centurion Chapter Air Ltd., George Town Codema Comercial e Importadora Ltda., Guarulhos Cofora Polska Sp. z o.o., Warsaw Compagnie Fonciere Raison - Cofora S.A.S., Paris Concept Air Ltd., George Town Concesionaria Automotores Pesados S.A., Buenos Aires Consórcio Nacional Volkswagen - Administradora de Consórcio Ltda., São Paulo Crewe Genuine Ltd., Crewe de Bois B.V., Velp De Bois Retail Holding B.V., Veenendaal Dearborn Motors S.A.S., Paris Delta Invest Sp. z o.o., Falenty Diffusion Automobile Calaisienne S.A.S., Coquelles Diffusion Automobile de Charente S.A.S., Champniers Diffusion Automobile du Nord (D.I.A.N.O.R.) S.A.S., Roncq Diffusion Automobile Girondine S.A., Mérignac Din Bil Fastigheter Göteborg AB, Stockholm Din Bil Fastigheter Syd AB, Stockholm Din Bil Helsingborg AB, Helsingborg Din Bil Stockholm Söder AB, Stockholm Din Bil Sverige AB, Stockholm Distribution Automobiles Bethunoise S.A.S., Fouquières-lès-Béthune Domes Automobiles S.A.R.L., Chasseneuil-du-Poitou Driver Australia One Pty. Ltd., Ashfield Driver Australia Two Pty. Ltd., Ashfield Driver Brasil One Banco Volkswagen Fundo de Investimento em Direitos Creditórios Financiamento de Veículos, Osasco Driver Brasil Three Banco Volkswagen Fundo de Investimento em Direitos Creditórios Financiamento de Veículos, Osasco Driver Brasil Two Banco Volkswagen Fundo de Investimento em Direitos Creditórios Financiamento de Veículos, Osasco Driver China Two Auto Loan Securitization Trust, Beijing Driver France FCT, Pantin Driver Master S.A., Luxembourg Driver UK Master S.A., Luxembourg Driver UK Multi-Compartment S.A., Luxembourg Ducati (Schweiz) AG, Wollerau Ducati do Brasil Indústria e Comércio de Motocicletas Ltda., São Paulo Ducati Japan K.K., Tokyo Ducati Motor (Thailand) Co. Ltd., Amphur Pluakdaeng Ducati Motor Holding S.p.A., Bologna Ducati North America, Inc., Cupertino / CA Exchange rate (€1 =) Currency Dec. 31, 2015 EUR EUR CAD BRL EUR EUR JPY JPY EUR USD USD EUR EUR SGD EUR KRW USD TWD EUR EUR EUR EUR EUR USD EUR ARS BRL EUR EUR PLN EUR EUR EUR EUR EUR CNY CNY CNY GBP CAD GBP USD EUR PLN EUR EUR EUR EUR EUR EUR EUR ZAR USD BRL PLN EUR USD ARS BRL GBP EUR EUR EUR PLN EUR EUR EUR EUR SEK SEK SEK SEK SEK EUR EUR AUD AUD VW AG's interest in capital in % Direct Indirect Total Equity in thousands, local currency Profit/loss in thousands, local currency Footnote 1.4897 1.4897 100.00 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.00 100.00 100.00 70.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.00 100.00 100.00 70.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 - 87,526 539,830 108,102 454,220 4,353,927 9,299,995 19,271,716 12,708,664 685,737 1,081,562 499,034 721 2,035 37,450 17,154 212,560,103 90,429 1,960,419 18 3,952 3,476 6,456 6,463 1,323 1,831,916 45,551 2,621,370 4,103 2,479 45,738 3,068 2,627 322 7,545 3,500 66,694 8,501 3,856 11 6,047 -165,559 65,761 2,966 680 23,211 6,006 2,592 31 1,373 593 137,242 31,608 113,857 55,467 35,674 63,720 185,577 546 1,801 487 5,511 -3,755 1,700 2,468 2,359 206 12,046 1,865 13,617 25,629 717,560 2,241 222 - 1,711 32,694 24,183 -59,587 441,735 301,364 916,914 956 -25 -124,237 84,640 32 655 2,044 924 32,197,317 15,189 366,335 261 -114 396 413 134 10,102 2,982 410,676 -349 709 7,589 508 388 20 -196 245 -12,480 122 -27,203 1,658 39,334 2,870 126 -3,012 409 630 -206 238 373 6,396 3,593 15,357 1,098 5,304 9,882 8,317 -183 -1 -1,480 125 325 -53 -70 392 713 282 89 136,289 303 -57 - BRL 4.3117 - - - 167,802 2,787 BRL 4.3117 - - - - - BRL CNY EUR EUR GBP GBP CHF BRL JPY THB EUR USD 4.3117 7.0608 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 585,049 31 29 29 1,297 -13,505 297,007 466,991 623,375 42,023 95,386 373 -12,102 -99,395 135,323 27,460 3,637 1.5116 4.3117 131.0700 131.0700 1.0887 1.0887 1.5417 1,280.7800 1.0887 35.8543 1.0887 14.1351 4.3117 4.2639 7.0608 7.0608 7.0608 0.7339 1.5116 0.7339 1.0887 4.2639 16.9530 1.0887 4.3117 4.2639 1.0887 14.1351 4.3117 0.7339 4.2639 9.1895 9.1895 9.1895 9.1895 9.1895 0.7339 0.7339 1.0835 4.3117 131.0700 39.2480 1.0887 Year 16) 6) 16) 2015 2015 2015 2014 2015 2015 2014 2014 2015 2015 2015 2014 2014 2014 2014 2015 2015 2015 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2014 2015 2013 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 16) 2014 6) 16) 2015 16) 6) 16) 16) 6) 16) 3) 16) 3) 4) 16) 2014 2015 2014 2015 2014 2015 2014 2014 2014 2014 2014 2014 14) 4) 6) 14) 5) 5) 12) 12) 16) 11) 6) 16) 5) 5) 5) Name and domicile of company Ducati North Europe B.V., Zoeterwoude Ducati U.K. Ltd., Towcester Ducati West Europe S.A.S., Colombes Ducmotocicleta S. de R.L. de C.V., Mexico City Duverney Automobiles S.A.S., St.-Jean-de-Maurienne Duverney Savoie Automobiles S.A.S., Saint-Alban-Leysse Duverney Val Savoie Automobiles S.A.S., Saint-Alban-Leysse DynaMate Industrial Services AB, Södertälje DynaMate IntraLog AB, Södertälje Dynamic Automobiles S.A.S., Annemasse Ekris Motorsport B.V., Veenendaal Ekris Retail B.V., Veenendaal Ekris Retail Holding B.V., Veenendaal ELCA Engineering Company (Pty) Ltd., Vanderbijlpark Elgersma B.V., Vianen ERF Ltd., Swindon Etablissement Duverney & Cie S.A.S., Chasseneuil-du-Poitou Etablissements A. Gardin S.A.S., Terville Eurent Autokölcsönzö Kft., Budapest Eurocar Immobili Italia s.r.l., Udine Eurocar Italia s.r.l., Udine Euro-Leasing A/S, Padborg Euro-Leasing Sp. z o.o., Kolbaskowo Europeisk Biluthyrning AB, Stockholm Evrard Les Grands Garages Liévinois S.A.S., Liévin ExB II LLC, Atlanta / GA ExB LLC, Atlanta / GA Excel Motors S.A.S., Laxou Exclusive Cars Vertriebs GmbH, Salzburg Falcon Air Ltd., George Town Fastighets AB Katalysatorn, Södertälje Fastighetsaktiebolaget Flygmotorn, Södertälje Fastighetsaktiebolaget Hjulnavet, Södertälje Fastighetsaktiebolaget Motorblocket, Södertälje Fastighetsaktiebolaget Vindbron, Södertälje Ferruform AB, Luleå Financière D.P. S.A.S., Chasseneuil-du-Poitou FMP S.A.R.L., Villeneuve d'Ascq Futurauto S.A.S., Poitiers FWAU Holding S.A.S., Paris Garage André Floc S.A.S., Cesson-Sévigné Garage Chevalier S.A.S., Chasseneuil-du-Poitou Garage de la Gohelle S.A.S., Sains-en-Gohelle Garage de la Lys - NGA S.A.S., Longuenesse Garage de la Lys Englos les Geants S.A.S., Sequedin Garage de la Lys S.A.S., Nieppe Garage Robert Bel S.A.S., Annemasse Garage Vetterli AG, Seuzach Gardin S.A.S., Chasseneuil-du-Poitou GGBA S.A.S., Hénin-Beaumont Glider Air Ltd., George Town Global Automotive Finance C.V., Amsterdam Grands Garages de Provence SNC, Aix-en-Provence Grands Garages de Touraine SNC, St. Cyr-sur-Loire Grands Garages du Berry S.A.S., Saint-Maur Grands Garages du Biterrois S.A.S., Béziers Griffin Automotive Ltd., Road Town Gulf Turbo Services LLC, Doha Hamlin Services LLC, Herndon / VA Hangzhou Jiejun Automobile Sales and Service Co., Ltd., Hangzhou Hangzhou Junbaohang Automobile Sales and Service Co., Ltd., Hangzhou Huzhou Junbaohang Automobile Sales and Service Co., Ltd., Huzhou IMMO SADA S.A.R.L., Chasseneuil-du-Poitou Immogeb S.A.S., Chasseneuil-du-Poitou Intercar Austria GmbH, Salzburg Ipecas - Gestão de Imóveis S.A., Lisbon Italdesign Giugiaro S.p.A., Turin Italscania S.p.A., Trento J.M.C. Autos S.A.S., Charmeil Jacob Evolution S.A.S., Talange Jacob S.A.S., Metz Jacques Carlet S.A.S., Mozac Jacques Duverney Annemasse S.A.S., Annemasse Jacques Duverney S.A.S., Thonon-les-Bains James Young Ltd., Crewe Javel Motors S.A.S., Paris Jiaxing Jiejun Automobile Sales and Service Co., Ltd., Jiaxing Jiaxing Junbaohang Automobile Sales and Service Co., Ltd., Jiaxing Jinhua Jiejun Automobile Sales and Service Co., Ltd., Jinhua Jinhua Junbaohang Automobile Sales and Service Co., Ltd., Jinhua JP Cresson S.A.R.L., Chasseneuil-du-Poitou Kai Tak Holding AB, Södertälje La Difference Automobile S.A.S., La Teste-de-Buch Lark Air Ltd., George Town Lauken S.A., Montevideo Le Grand Garage Piscenois S.A.R.L., Pézenas Leioa Wagen, S.A., Leioa Lens Location S.A.S., Loison-sous-Lens Les Nouveaux Garages de l'Artois (N.G.A.) S.A.S., Arras Levante Wagen, S.A., Valencia Lion Air Services, Inc., George Town Lion Motors Sp. z o.o., Piaseczno Longwy Espace Automobile S.A.S., Mexy Lorraine Motors S.A.S., Tomblaine LOTS Group AB, Södertälje Exchange rate (€1 =) Currency Dec. 31, 2015 EUR GBP EUR MXN EUR EUR EUR SEK SEK EUR EUR EUR EUR ZAR EUR GBP EUR EUR HUF EUR EUR DKK PLN SEK EUR USD USD EUR EUR USD SEK SEK SEK SEK SEK SEK EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR CHF EUR EUR USD EUR EUR EUR EUR EUR TWD QAR USD CNY CNY CNY EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR GBP EUR CNY CNY CNY CNY EUR SEK EUR USD UYU EUR EUR EUR EUR EUR USD PLN EUR EUR SEK 0.7339 18.9145 9.1895 9.1895 16.9530 0.7339 315.9800 7.4626 4.2639 9.1895 1.0887 1.0887 1.0887 9.1895 9.1895 9.1895 9.1895 9.1895 9.1895 1.0835 1.0887 35.8543 3.9658 1.0887 7.0608 7.0608 7.0608 0.7339 7.0608 7.0608 7.0608 7.0608 9.1895 1.0887 32.5810 1.0887 4.2639 9.1895 VW AG's interest in capital in % Direct Indirect - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 55.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 55.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 3,253 1,611 5,602 -280 1,770 6,448 3,210 9,569 7,904 1,252 -1 10,248 7,798 86,398 2,178 10,237 2,467 1,038 10,389 10,263 12,306 3,532 46,746 1,233 11,176 7,490 402 2,416 120 18,825 53,956 100 42,070 113,989 5,729 5,205 461 44,682 5,090 1,700 995 1,751 2,126 2,910 1,320 3,845 2,776 128,097 522,096 9,664 8,437 455 1,304 414,556 23,692 122 227,829 36,199 -182 194 12,988 -18 88,815 32,512 1,405 -595 -724 4,372 2,854 3,051 12,474 7,401 53,937 85,143 245,564 129,543 296 120 1,171 1,502 3,724 1,409 4,986 4,991 80,503 -4,924 493 3,894 120 Profit/loss in thousands, local currency 214 297 1,708 -1,327 28 577 295 -9,963 911 -3 1 2,263 -144 6,435 184 948 573 72 254 397 5,764 504 -2,975 357 -2,429 -1,872 2 14 0 3 0 3 45,473 40 86 64 -3 520 -27 206 278 280 506 4 -157 13 10,682 -173 923 656 -172 -562 205,406 -7,166 -25,922 38,093 -3,731 53 995 5,647 -6 6,477 11,181 113 -652 -1,873 666 302 526 344 -3,934 8,123 30,188 9,664 175 0 189 220 932 92 666 1,238 16,251 -691 7 658 0 Footnote 5) 5) 16) 16) 6) 16) 5) 7) 11) 11) 5) 4) 11) 5) 10) 4) 8) Year 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2013 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2013 2014 2014 2014 2014 2014 2014 2013 2014 2014 2014 2015 Name and domicile of company M.C.A. S.A.S., Champniers Mach Air Ltd., George Town Málaga Wagen, S.A., Málaga Mälardalens Tekniska Gymnasium AB, Södertälje MAN Accounting Center Sp. z o.o., Poznań MAN Automotive (South Africa) (Pty) Ltd., Isando MAN Bus & Coach (Pty) Ltd., Olifantsfontein MAN Bus Sp. z o.o., Tarnowo Podgórne MAN Capital Corp., Pompano Beach / FL MAN Diesel & Turbo Australia Pty. Ltd., North Ryde MAN Diesel & Turbo Benelux B.V., Schiedam MAN Diesel & Turbo Benelux N.V., Antwerp MAN Diesel & Turbo Brasil Ltda., Rio de Janeiro MAN Diesel & Turbo Canada Ltd., Oakville / ON MAN Diesel & Turbo Chile Ltda., Valparaíso MAN Diesel & Turbo China Production Co., Ltd., Changzhou MAN Diesel & Turbo España S.A., Madrid MAN Diesel & Turbo France S.A.S., Villepinte MAN Diesel & Turbo Fujairah FZC, Fujairah Free Zone MAN Diesel & Turbo Hellas E.P.E., Pireaus MAN Diesel & Turbo Hong Kong Ltd., Hong Kong MAN Diesel & Turbo India Ltd., Aurangabad MAN Diesel & Turbo Italia S.r.l., Genoa MAN Diesel & Turbo Korea Ltd., Busan MAN Diesel & Turbo Middle East LLC, Dubai MAN Diesel & Turbo North America Inc., Houston / TX MAN Diesel & Turbo Operations Pakistan Pvt. Ltd., Lahore MAN Diesel & Turbo Pakistan Pvt. Ltd., Lahore MAN Diesel & Turbo Saudi Arabia LLC, Jeddah MAN Diesel & Turbo Schweiz AG, Zurich MAN Diesel & Turbo Shanghai Co., Ltd., Shanghai MAN Diesel & Turbo Shanghai Logistics Co., Ltd., Shanghai MAN Diesel & Turbo Singapore Pte. Ltd., Singapore MAN Diesel & Turbo South Africa (Pty) Ltd., Elandsfontein MAN Diesel & Turbo UK Ltd., Stockport MAN Diesel ve Turbo Satis Servis Ltd. Sti., Istanbul MAN Engines & Components Inc., Pompano Beach / FL MAN Finance and Holding S.A., Luxembourg MAN Finance Luxembourg S.A., Luxembourg MAN Financial Services España S.L., Coslada MAN Financial Services GesmbH, Eugendorf MAN Financial Services plc., Swindon MAN Financial Services Poland Sp. z o.o., Nadarzyn MAN Financial Services S.A.S., Evry MAN Financial Services S.p.A., Dossobuono di Villafranca MAN Hellas Truck & Bus A.E., Aspropygros MAN Iberia S.A., Coslada MAN Kamion és Busz Kereskedelmi Kft., Dunaharaszti MAN Kamyon ve Otobüs Ticaret A.S., Ankara MAN Latin America Indústria e Comércio de Veículos Ltda., São Paulo MAN Location & Services S.A.S., Evry MAN Nutzfahrzeuge Immobilien GmbH, Steyr MAN Truck & Bus (Korea) Ltd., Seoul MAN Truck & Bus (M) Sdn. Bhd., Rawang MAN Truck & Bus (S.A.) (Pty) Ltd., Isando MAN Truck & Bus Asia Pacific Co. Ltd., Bangkok MAN Truck & Bus Czech Republic s.r.o., Cestlice MAN Truck & Bus Danmark A/S, Glostrup MAN Truck & Bus France S.A.S., Evry MAN Truck & Bus Iberia S.A., Coslada MAN Truck & Bus Italia S.p.A., Dossobuono di Villafranca MAN Truck & Bus Mexico S.A. de C.V., El Marques MAN Truck & Bus Middle East and Africa FZE, Dubai MAN Truck & Bus Middle East FZE, Dubai MAN Truck & Bus N.V., Kobbegem MAN Truck & Bus Norge A/S, Lorenskog MAN Truck & Bus Österreich AG, Steyr MAN Truck & Bus Polska Sp. z o.o., Nadarzyn MAN Truck & Bus Portugal S.U. Lda., Lisbon MAN Truck & Bus Schweiz AG, Otelfingen MAN Truck & Bus Slovakia s.r.o., Bratislava MAN Truck & Bus Slovenija d.o.o., Ljubljana MAN Truck & Bus Sverige AB, Kungens Kurva MAN Truck & Bus Trading (China) Co., Ltd., Beijing MAN Truck & Bus UK Ltd., Swindon MAN Truck & Bus Vertrieb Österreich AG, Vienna MAN Trucks India Pvt. Ltd., Pune MAN Trucks Sp. z o.o., Niepolomice MAN Türkiye A.S., Ankara Marignane Automobiles et Services S.A.S., Saint-Victoret MB Motors Sp. z o.o., Piaseczno MECOS AG, Winterthur Meridional Auto S.A.S., Nîmes MKB Lease B.V., Amersfoort Motorcam S.A., Buenos Aires MRH S.A.S., Chasseneuil-du-Poitou MW-Hallen Restaurang AB, Södertälje Nefkens Brabant B.V., Eindhoven Nefkens Leeuw B.V., Veenendaal Nefkens Midden B.V., Utrecht Nefkens Noord B.V., Groningen Nefkens Oost B.V., Apeldoorn Nefkens Vastgoed B.V., Veenendaal Ningbo Jiejun Automobile Sales and Service Co., Ltd., Ningbo Niort Automobiles S.A.S., Niort Exchange rate (€1 =) Currency Dec. 31, 2015 EUR USD EUR SEK PLN ZAR ZAR EUR USD AUD EUR EUR BRL CAD CLP CNY EUR EUR AED EUR HKD INR EUR KRW AED USD PKR PKR SAR CHF CNY CNY SGD ZAR GBP TRY USD EUR EUR EUR EUR GBP PLN EUR EUR EUR EUR HUF EUR BRL EUR EUR KRW MYR ZAR THB CZK DKK EUR EUR EUR MXN AED AED EUR NOK EUR PLN EUR CHF EUR EUR SEK CNY GBP EUR INR EUR EUR EUR PLN CHF EUR EUR ARS EUR SEK EUR EUR EUR EUR EUR EUR CNY EUR 1.0887 9.1895 4.2639 16.9530 16.9530 1.0887 1.4897 4.3117 1.5116 774.0600 7.0608 4.0003 8.4376 72.0215 1,280.7800 4.0003 1.0887 114.0670 114.0670 4.0885 1.0835 7.0608 7.0608 1.5417 16.9530 0.7339 3.1765 1.0887 0.7339 4.2639 315.9800 4.3117 1,280.7800 4.6959 16.9530 39.2480 27.0230 7.4626 18.9145 4.0003 4.0003 9.6030 4.2639 1.0835 9.1895 7.0608 0.7339 72.0215 4.2639 1.0835 14.1351 9.1895 7.0608 VW AG's interest in capital in % Direct Indirect - 100.00 100.00 100.00 80.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 70.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 80.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 70.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 1,606 937 1,000 3,406 16,924 78,064 131,686 160,361 12,992 5,988 10,348 11,058 -853 3,032,110 214,783 2,626 84,552 1,894 4,610 76,914 1,982,909 3,679 22,006,583 56,417 31,588 281,477 362,890 6,528 294,650 202,493 15,831 40,894 366,815 41,945 14,340 49,051 1,562,518 125 1,890 13,692 59,205 34,947 22,583 15,271 778 2,560 3,436,214 27,509 1,943,961 327 23,934 9,328,313 2,463 445,485 112,661 969,550 80,328 32,538 1,447 9,410 59,006 73,548 17,239 131,152 528,934 17,323 2,773 16,100 8,761 8,198 19,063 65,851 92,031 172,395 5,493,730 196,772 106,072 3,468 10,742 4,576 1,071 8,720 116,202 592 2,230 3,398 11,483 4,390 2,366 1,225 11 283,152 2,533 Profit/loss in thousands, local currency 104 10 275 2,780 10,508 20,312 -11,811 -1,421 1,444 1,375 2,277 -8,667 626,431 29,317 865 18,749 -3,104 1,863 21,166 356,070 996 6,365,306 13,641 1,276 81,689 68,315 928 16,405 -811 7,915 18,174 34,596 9,867 6,400 5,326 4,697 91 514 2,655 4,393 11,503 354 433 -269 352 427,230 3,412 -790,737 -6,355 1,569 8,374,719 4,771 -15,737 8,986 -1,840 1,871 -3,218 -263 -481 6,502 -12,086 303 42,707 -205,223 -45,725 -347 449 -828 526 -424 7,155 7,533 5,630 -269,185 12,246 3,820 66 3,521 477 251 1,758 17,142 -16 0 132 49 185 -264 1,149 20,488 142 Footnote 6) 16) 5) 12) 10) 11) 7) 4) 5) Year 2014 2015 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 Name and domicile of company Nooga Air Ltd., George Town Norsk Scania A/S, Oslo Norsk Scania Eiendom A/S, Oslo Nouveau Garage des Flandres S.A.S., Wormhout Nouveaux Garages Lensois S.A.S., Loison-sous-Lens Nouvelle Generation S.A.S., Augny NSAA S.A.S., Chasseneuil-du-Poitou Ocean Automobile S.A.S., Orvault Officine del Futuro S.p.A., Sant'Agata Bolognese OOO MAN Financial Services, Moscow OOO MAN Truck & Bus Production RUS, Saint Petersburg OOO MAN Truck and Bus RUS, Moscow OOO Petroscan, Saint Petersburg OOO Porsche Center Moscow, Moscow OOO Porsche Financial Services Russland, Moscow OOO Porsche Russland, Khimki OOO Scania Finance, Moscow OOO Scania Leasing, Moscow OOO Scania Peter, Saint Petersburg OOO Scania Service, Golitsino OOO Scania Strachovanie, Moscow OOO Scania-Rus, Golitsino OOO Volkswagen Bank RUS, Moscow OOO Volkswagen Group Finanz, Moscow OOO Volkswagen Group Rus, Kaluga Oreda S.A.S., La Chapelle-Saint-Mesmin P.B.O. S.A.S., Chasseneuil-du-Poitou P.G.A Motors S.A.S., Paris PAIG (China) Automobile Investment Co., Ltd., Hangzhou Paris Est Evolution S.A.S., Saint-Thibault-des-Vignes PBS Turbo s.r.o., Velká Bítes PCars LLC, Atlanta / GA PCREST Ltd., Mississauga / ON PCTX LLC, Atlanta / GA PGA Belgique S.A., Tournai PGA Facilitair B.V., Veenendaal PGA Group S.A.S., Paris PGA Motors B.V., Veenendaal PGA Nederland N.V., Veenendaal PGA Polska Sp. z o.o., Warsaw P-G-A S.A., Paris PGA Trésorerie S.A.S., Paris PGAFI S.A.S., Chasseneuil-du-Poitou Porsacentre S.L., Barcelona Porsamadrid S.L., Madrid Porsche (China) Motors Ltd., Shanghai Porsche (Shanghai) Commercial Services Co., Ltd., Shanghai Porsche Albania Sh.p.k., Tirana Porsche Asia Pacific Pte. Ltd., Singapore Porsche Austria GmbH & Co. OG, Salzburg Porsche Auto Funding LLC, Atlanta / GA Porsche Automotive Investment GmbH, Salzburg Porsche Aviation Products, Inc., Atlanta / GA Porsche Bank AG, Salzburg Porsche Bank Hungaria Zrt., Budapest Porsche Bank Romania S.A., Voluntari Porsche BG EOOD, Sofia Porsche Biztosításközvetítõ Kft., Budapest Porsche Broker de Asigurare S.R.L., Voluntari Porsche Business Services, Inc., Atlanta / GA Porsche Canadian Funding L.P., Mississauga / ON Porsche Canadian Investment ULC, Halifax / NS Porsche Cars Australia Pty. Ltd., Collingwood Porsche Cars Canada Ltd., Mississauga / ON Porsche Cars Great Britain Ltd., Reading Porsche Cars North America, Inc., Atlanta / GA Porsche Central and Eastern Europe s.r.o., Prague Porsche Centre Beijing Central Ltd., Beijing Porsche Centre Shanghai Pudong Ltd., Shanghai Porsche Centre Shanghai Waigaoqiao Ltd., Shanghai Porsche Ceská republika s.r.o., Prague Porsche Chile SpA, Santiago de Chile Porsche Colombia S.A.S., Bogotá Porsche Connect, Inc., Atlanta / GA Porsche Consulting Ltd., Shanghai Porsche Consulting Ltda., São Paulo Porsche Consulting S.r.l., Milan Porsche Consulting, Inc., Atlanta / GA Porsche Corporate Finance GmbH, Salzburg Porsche Croatia d.o.o., Velika Gorica Porsche Design GmbH, Zell am See Porsche Design of America, Inc., Ontario / CA Porsche Distribution S.A.S., Vélizy-Villacoublay Porsche Engineering Services s.r.o., Prague Porsche Enterprises, Inc., Atlanta / GA Porsche Financial Auto Securitization Trust 2014-1, Atlanta / GA Porsche Financial Management Services Ltd., Dublin Porsche Financial Services Australia Pty. Ltd., Collingwood Porsche Financial Services Canada G.P., Mississauga / ON Porsche Financial Services France S.A., Roissy-en-France Porsche Financial Services Great Britain Ltd., Reading Porsche Financial Services Italia S.p.A., Padua Porsche Financial Services Japan K.K., Tokyo Porsche Financial Services Schweiz AG, Rotkreuz Porsche Financial Services, Inc., Atlanta / GA Exchange rate (€1 =) Currency Dec. 31, 2015 USD NOK NOK EUR EUR EUR EUR EUR EUR RUB EUR RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB RUB EUR EUR EUR CNY EUR CZK USD CAD USD EUR EUR EUR EUR EUR PLN EUR EUR EUR EUR EUR CNY CNY ALL SGD EUR USD EUR USD EUR HUF RON BGN HUF RON USD CAD CAD AUD CAD GBP USD CZK CNY CNY CNY CZK CLP COP USD CNY BRL EUR USD EUR HRK EUR USD EUR CZK USD USD EUR AUD CAD EUR GBP EUR JPY CHF USD 1.0887 9.6030 9.6030 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 80.6736 7.0608 27.0230 1.0887 1.5116 1.0887 4.2639 7.0608 7.0608 137.6400 1.5417 1.0887 1.0887 315.9800 4.5240 1.9558 315.9800 4.5240 1.0887 1.5116 1.5116 1.4897 1.5116 0.7339 1.0887 27.0230 7.0608 7.0608 7.0608 27.0230 774.0600 3,457.0000 1.0887 7.0608 4.3117 1.0887 7.6380 1.0887 27.0230 1.0887 1.0887 1.4897 1.5116 0.7339 131.0700 1.0835 1.0887 VW AG's interest in capital in % Direct Indirect 28.06 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 71.94 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 213,798 46,768 841 2,218 2,469 1,411 4,086 4,697 368,926 5,144 1,664,604 76,828 824,451 50,081 2,810,537 60,829 1,171,606 -13,240 265,287 -467 4,099,065 10,669,511 715,443 29,576,357 653 598 206,658 294,526 3,587 610,267 16,817 3 469 3,147 1 136,169 7,918 50,955 29,678 75,584 3,413 260 2,931 1,318 483,478 12,620 770,994 19,677 23,264 117,086 77,441 625 301,037 5,388,374 86,039 15,712 6,400 21,691 8,057 58,694 731 57,435 67,234 90,648 666,623 54,156 63,958 130,958 6,210 719,077 11,975,311 16,622,844 -4 915 1,263 4,757 1,111 1,292,304 121,579 5,639 1,623 23,766 87,513 151,551 7,015 788 1,130 16,581 2,512 26,736 35,267 4,175,209 5,714 61,138 Profit/loss in thousands, local currency 240,109 5,327 302 254 -1,351 -1 753 194 -173,407 -902 -543,214 9,406 100,323 15,081 854,037 5,626 316,426 -140,293 50,797 -423 915,649 433,186 59,354 -1,715,916 -161 137 9,141 830 276 131,172 2,056 18 -9 -24 2,467 -53 -2,910 4,339 -993 2,552 114 56 861 337,537 7,278 15,041 5,518 20,948 -7,395 1 5,346 -5,628,989 -7,199 5,766 209,247 13,335 1,488 839 -1 12,396 15,757 96,261 21,416 11,916 20,645 60,009 -26,857 298,430 -19,966,127 596,357 357 3,825 1,169 187 10,822 42,969 204 283 2,395 16,663 5,389 1,010 79 298 -308 2,457 6,359 5,120 288,749 5,474 10,464 Footnote Year 6) 16) 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2014 2015 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2014 2015 2014 2015 2014 2015 2014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2014 2014 2014 2015 2015 2015 2015 2015 2014 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 12) 16) 4) 14) 16) 5) 16) Name and domicile of company Porsche France S.A., Roissy-en-France Porsche Funding L.P., Atlanta / GA Porsche Haus S.r.l., Milan Porsche Holding Finance plc., Dublin Porsche Holding GmbH, Salzburg Porsche Hong Kong Ltd., Hong Kong Porsche Hungaria Kereskedelmi Kft., Budapest Porsche Ibérica S.A., Madrid Porsche Immobilien BG EOOD, Sofia Porsche Immobilien CZ spol. s r.o., Prague Porsche Immobilien GmbH & Co. KG, Salzburg Porsche Immobilien GmbH, Salzburg Porsche Immobilien S.R.L., Voluntari Porsche Immobilien Slovakia spol s.r.o., Bratislava Porsche Immobilienverwaltungs Kft., Budapest Porsche Informatik GmbH, Salzburg Porsche Innovative Lease Owner Trust 2012-1, Atlanta / GA Porsche Innovative Lease Owner Trust 2013-1, Atlanta / GA Porsche Innovative Lease Owner Trust 2014-1, Atlanta / GA Porsche Innovative Lease Owner Trust 2015-1, Atlanta / GA Porsche Insurance Broker BG EOOD, Sofia Porsche Inter Auto BG EOOD, Sofia Porsche Inter Auto CZ spol. s r.o., Prague Porsche Inter Auto d.o.o., Ljubljana Porsche Inter Auto d.o.o., Zagreb Porsche Inter Auto GmbH & Co. KG, Salzburg Porsche Inter Auto Hungaria Kft., Budapest Porsche Inter Auto Polska Sp. z o.o., Warsaw Porsche Inter Auto Romania S.R.L., Voluntari Porsche Inter Auto S d.o.o., Belgrade Porsche Inter Auto Slovakia, spol. s r.o., Bratislava Porsche International Financing plc., Dublin Porsche International Reinsurance Ltd., Dublin Porsche Investment Corp., Atlanta / GA Porsche Italia S.p.A., Padua Porsche Japan K.K., Tokyo Porsche Konstruktionen GmbH & Co. KG, Salzburg Porsche Korea Ltd., Seoul Porsche Kredit in Leasing SLO d.o.o., Ljubljana Porsche Latin America, Inc., Miami / FL Porsche Leasing BG EOOD, Sofia Porsche Leasing d.o.o. Podgorica, Podgorica Porsche Leasing d.o.o., Zagreb Porsche Leasing d.o.o.e.l. Skopje, Skopje Porsche Leasing Ltd., Atlanta / GA Porsche Leasing Romania IFN S.A., Voluntari Porsche Leasing SCG d.o.o., Belgrade Porsche Leasing SLO d.o.o., Ljubljana Porsche Leasing Ukraine TOV, Kiev Porsche Liquidity LLC, Atlanta / GA Porsche Lizing és Szolgáltató Kft., Budapest Porsche Logistics Services LLC, Ontario / CA Porsche Macedonia d.o.o.e.l. Skopje, Skopje Porsche Middle East and Africa FZE, Dubai Porsche Mobiliti d.o.o., Zagreb Porsche Mobility BG EOOD, Sofia Porsche Mobility d.o.o., Belgrade Porsche Mobility S.R.L., Voluntari Porsche Mobility TOV, Kiev Porsche Motorsport North America, Inc., Santa Ana / CA Porsche Movilidad Colombia S.A.S., Bogotá Porsche Partner d.o.o., Belgrade Porsche Retail Group Australia Pty. Ltd., Collingwood Porsche Retail Group Ltd., Reading Porsche Romania S.R.L., Voluntari Porsche SCG d.o.o., Belgrade Porsche Schweiz AG, Rotkreuz Porsche Services Ibérica, S.L., Madrid Porsche Services Middle East & Africa FZE, Dubai Porsche Services Singapore Pte Ltd., Singapore Porsche Slovakia, spol. s r.o., Bratislava Porsche Slovenija d.o.o., Ljubljana Porsche Ukraine TOV, Kiev Porsche Versicherungs AG, Salzburg Porsche Versicherungsagentur TOV, Kiev Porsche Werbemittlung GmbH, Salzburg Porsche Zagreb d.o.o., Zagreb Porsche Zastupanje u Osiguranju d.o.o., Zagreb Porsche Zavarovalno Zastopnistvo d.o.o., Ljubljana Porsche Zentrum Zug, Risch AG, Rotkreuz Power Vehicle Co. Ltd., Bangkok PPF Holding AG, Zug Précision Automobiles S.A.S., Paris Premium Automobiles S.A.S., Paris Premium II S.A.S., Montigny-le-Bretonneux Premium Metropole Holding S.A.S., Villeneuve d'Ascq Premium Metropole S.A.S., Villeneuve d'Ascq Premium Picardie S.A.S., Rivery Premium Tournai SPRL, Tournai Premium Vélizy S.A.S., Vélizy-Villacoublay Private Driver España 2013-1, Fondo de titulizacion de activos, Madrid Prophi S.A.S., Chasseneuil-du-Poitou PT Scania Parts Indonesia, Balikpapan Qanadeel AL Rafidain Automotive Trading Co. Ltd., Erbil Raven Air Ltd., George Town Exchange rate (€1 =) Currency Dec. 31, 2015 EUR USD EUR EUR EUR HKD HUF EUR BGN CZK EUR EUR RON EUR HUF EUR USD USD USD USD BGN BGN CZK EUR HRK EUR HUF PLN RON RSD EUR EUR EUR USD EUR JPY EUR KRW EUR USD BGN EUR HRK MKD USD RON RSD EUR UAH USD HUF USD MKD USD HRK BGN RSD RON UAH USD COP RSD AUD GBP RON RSD CHF EUR USD SGD EUR EUR UAH EUR UAH EUR HRK HRK EUR CHF THB CHF EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR IDR IQD USD 1.0887 8.4376 315.9800 1.9558 27.0230 4.5240 315.9800 1.0887 1.0887 1.0887 1.0887 1.9558 1.9558 27.0230 7.6380 315.9800 4.2639 4.5240 121.6200 1.0887 131.0700 1,280.7800 1.0887 1.9558 7.6380 61.5700 1.0887 4.5240 121.6200 26.1689 1.0887 315.9800 1.0887 61.5700 1.0887 7.6380 1.9558 121.6200 4.5240 26.1689 1.0887 3,457.0000 121.6200 1.4897 0.7339 4.5240 121.6200 1.0835 1.0887 1.5417 26.1689 26.1689 7.6380 7.6380 1.0835 39.2480 1.0835 15,039.9900 1,193.6600 1.0887 VW AG's interest in capital in % Direct Indirect - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 75.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.00 100.00 100.00 100.00 51.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 75.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.00 100.00 100.00 100.00 51.00 100.00 Equity in thousands, local currency 84,191 301,618 492 8,785 3,973,546 1,318,512 13,093,823 70,129 22,025 584,778 32,028 1,361,833 334,648 14,197 6,878,413 -656 22,809 25,868 68,506 60,417 2,610 4,824 671,050 7,189 47,888 69,053 2,983,603 53,173 29,461 205,111 5,938 49,348 85,371 106 92,688 2,813,282 149,697 9,970,141 24,297 2,345 9,558 2,150 164,076 319,645 204,768 234,761 43,878 -196,115 39,612 1,736,508 2,502 688,152 51,325 22,249 176,189 61,381 -112,154 7,753 339,668 46,073 27,662 13,184 128,683 1,072,687 35,346 159 272 244 19,728 35,372 436,049 53,657 31,760 1,046 241,686 730 531 1,867 245 3,600 1,483 3,659 3,122 2,164 3,942 3,650 1,894 1,024 6,966 13,136 - Profit/loss in thousands, local currency 5,867 -1,895 388 813 182,843 1,693,422 1,356,302 5,160 732 28,935 8,400 114 6,117 284 266,289 -2,290 744 7,705 17,859 9,417 1,341 56 183,384 1,221 -3,767 23,699 1,236,807 7,463 24 41,370 636 2,165 19,012 0 10,026 1,313,282 80,953 -6,036,688 1,051 296 692 372 19,814 52,105 19,142 31,511 2,908 -179,661 2,765 779,885 663 100,944 10,685 1,038 -4 -122,254 8,245 -114,945 31 -1,127,561 10,443 8,699 6,946 82,379 182,698 9,414 -5 176 -21 6,449 9,387 186,323 8,011 31,653 457 -10,044 52 223 748 -41 2,653 -161 1,634 534 158 572 447 -22 570 2,139 -3,178 - Footnote 16) 16) 16) 6) 16) 14) 16) 16) 4) 16) 15) 11) Year 2015 2015 2015 2014 2014 2015 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2015 2015 2014 2015 2014 2015 2014 2014 2014 2014 2015 2014 2014 2014 2014 2015 2014 2015 2014 2015 2014 2014 2014 2014 2014 2015 2014 2014 2015 2015 2014 2014 2015 2015 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2013 Name and domicile of company Reliable Vehicles Ltd., Milton Keynes Renk Corp., Duncan / SC Renk France S.A.S., Saint-Ouen-l'Aumône Renk Systems Corp., Camby / IN RENK-MAAG GmbH, Winterthur Roosevelt II S.A.S., Chasseneuil-du-Poitou S.A.N.D. Automobiles S.A.S., Roncq S.N.A.T. S.A.S., Tourcoing SACN - Société Automobile Chauny Noyon S.A.S., Chauny SADA S.A.S., Dunkirk SADAL S.A.S. - Société de Diffusion Automobile du Leman, Vétraz-Monthoux Safi S.A.S., Vitry-sur-Seine Sågverket 6 AB, Södertälje Saintalb S.A.S., Chasseneuil-du-Poitou Sancar S.A.S., Chasseneuil-du-Poitou Sandrah S.A.S., Hénin-Beaumont SANEG S.A.S., Carvin Santa Catarina Veículos e Serviços Ltda., Biguaçu Savoie Renault Occasion (Sareno) S.A.R.L., Chasseneuil-du-Poitou Scan Siam Service Co. Ltd., Bangkok Scanexpo International S.A., Montevideo Scanexpo S.A., Montevideo Scania (Hong Kong) Ltd., Hong Kong Scania (Malaysia) Sdn. Bhd., Shah Alam Scania AB, Södertälje Scania Administradora de Consórcios Ltda., Cotia Scania Argentina S.A., Buenos Aires Scania Australia Pty. Ltd., Melbourne Scania Banco S.A., São Paulo Scania Belgium N.V., Neder-Over-Heembeek Scania BH d.o.o., Sarajevo Scania Botswana (Pty) Ltd., Gaborone Scania Bulgaria EOOD, Sofia Scania Bus & Coach UK Ltd., Milton Keynes Scania Bus Financing AB, Södertälje Scania Central Asia LLP, Almaty Scania Chile S.A., Santiago de Chile Scania Colombia S.A., Bogotá Scania Comercial, S.A. de C.V., Queretaro Scania Commercial Vehicles India Pvt. Ltd., Bangalore Scania Commercial Vehicles Renting S.A., Madrid Scania Commerciale S.p.A., Trento Scania Corretora de Seguros Ltda., São Paulo Scania Credit (Hong Kong) Ltd., Hong Kong Scania Credit (Malaysia) Sdn. Bhd., Shah Alam Scania Credit AB, Södertälje Scania Credit Hrvatska d.o.o., Lucko Scania Credit Romania IFN S.A., Ciorogârla Scania Credit Solutions Pty Ltd., Nairobi Scania Credit Taiwan Ltd., Taipei Scania CV AB, Södertälje Scania Czech Republic s.r.o., Prague Scania Danmark A/S, Ishöj Scania Danmark Ejendom ApS, Ishöj Scania de Venezuela S.A., Valencia Scania del Perú S.A., Lima Scania Delivery Center AB, Södertälje Scania East Africa Ltd., Nairobi Scania Eesti AS, Tallinn Scania Finance Belgium N.V., Neder-Over-Heembeek Scania Finance Bulgaria EOOD, Sofia Scania Finance Chile S.A., Santiago de Chile Scania Finance Czech Republic spol. s r.o., Prague Scania Finance France S.A.S., Angers Scania Finance Great Britain Ltd., London Scania Finance Hispania EFC S.A., Madrid Scania Finance Holding AB, Södertälje Scania Finance Holding Great Britain Ltd., London Scania Finance Ireland Ltd., Dublin Scania Finance Italy S.p.A., Milan Scania Finance Korea Ltd., Kyungam Scania Finance Luxembourg S.A., Munsbach Scania Finance Magyarország Zrt., Biatorbágy Scania Finance Nederland B.V., Breda Scania Finance Polska Sp. z o.o., Nadarzyn Scania Finance Schweiz AG, Kloten Scania Finance Slovak Republic s.r.o., Senec Scania Finance Southern Africa (Pty) Ltd., Aeroton Scania Finans AB, Södertälje Scania France S.A.S., Angers Scania Great Britain Ltd., Milton Keynes Scania Group Treasury Belgium N.V., Neder-Over-Heembeek Scania Hispania Holding S.L., Madrid Scania Hispania S.A., Madrid Scania Holding Europe AB, Södertälje Scania Holding France S.A.S., Angers Scania Holding Inc., Columbus / IN Scania Hrvatska d.o.o., Zagreb Scania Hungaria Kft., Biatorbágy Scania Incheon Ltd., Incheon Scania Industrial Maintenance AB, Södertälje Scania Insurance Nederland B.V., Middelharnis Scania Insurance Polska Sp. z o.o., Nadarzyn Scania Investimentos Imobiliários S.A., Vialonga Scania Iraq Automotive Trading Company Ltd., Basra Exchange rate (€1 =) Currency Dec. 31, 2015 GBP USD EUR USD CHF EUR EUR EUR EUR EUR EUR EUR SEK EUR EUR EUR EUR BRL EUR THB UYU UYU HKD MYR SEK BRL ARS AUD BRL EUR BAM BWP BGN GBP SEK KZT CLP COP MXN INR EUR EUR BRL HKD MYR EUR HRK RON KES TWD SEK CZK DKK DKK VEF PEN SEK KES EUR EUR BGN CLP CZK EUR GBP EUR SEK GBP EUR EUR KRW EUR HUF EUR PLN CHF EUR ZAR SEK EUR GBP SEK EUR EUR SEK EUR USD HRK HUF KRW SEK EUR PLN EUR IQD 0.7339 1.0887 1.0887 1.0835 9.1895 4.3117 39.2480 32.5810 32.5810 8.4376 4.6959 9.1895 4.3117 14.1351 1.4897 4.3117 1.9558 12.2509 1.9558 0.7339 9.1895 370.9500 774.0600 3,457.0000 18.9145 72.0215 4.3117 8.4376 4.6959 7.6380 4.5240 111.3100 35.8543 9.1895 27.0230 7.4626 7.4626 6.8528 3.7081 9.1895 111.3100 1.9558 774.0600 27.0230 0.7339 9.1895 0.7339 1,280.7800 315.9800 4.2639 1.0835 16.9530 9.1895 0.7339 9.1895 9.1895 1.0887 7.6380 315.9800 1,280.7800 9.1895 4.2639 1,193.6600 VW AG's interest in capital in % Direct Indirect 86.65 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 13.35 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 2,500 11,165 17,920 869 15,690 409 2,273 1,266 1,586 2,010 7,584 5,263 120 3,156 7,221 1,604 1,347 770 48,017 216,699 39,017 51,365 19,602,150 106,688 1,070,217 59,476 212,966 60,514 2,519 36,929 8,409 1,029 118 1,092,532 13,539,704 -668,847 495,274 -99,382 62,749 6,019 6,404 515 9,240 3,929 17,067 42,006 13,868 27,873 457,388 98,017 102,666 29,084 67,500 18,880 300,000 5,217 9,269 7,574 5,004,195 553,742 29,010 78,088 74,884 1,043,915 3,379 1,563 29,828 40,157,614 4,350 827,644 29,392 110,028 4,723 6,331 247,909 295,593 46,136 45,827 62 60,018 17,576 36,000,556 72,186 20,933 20,198 847,898 -1,231,266 37,823 29 887 - Profit/loss in thousands, local currency 1,474 1,809 -53 1,798 -2 157 -44 245 245 553 -454 0 250 927 372 257 600 2,893 -2,149 23,211 10,433 2 5,261 228,568 12,974 19,514 2,989 173 11,328 2,354 -2 -42,030 1,223,478 -5,760,668 -29,252 -602,407 1,878 44 -3,596 940 590 -967 4,653 1,087 -6,164 3,910 286,020 1,699 15,423 9,094 3,236 2,213 12,413 670 1,802 3,106 1,504,688 125,173 485 12,815 1,631 356,508 928 4,007 2,506,914 349 340,150 4,383 21,196 310 928 43,263 85,215 6,288 31,006 -11 7,000 7,688 -15,792,411 4,793 -161 1,926 770,342 -550,189 1,123 -21 -16 - Footnote Year 5) 2014 2015 2015 2015 2015 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 4) 8) 7) 5) 10) 5) 11) 5) 10) 11) 6) Name and domicile of company Scania IT AB, Södertälje Scania IT France S.A.S., Angers Scania IT Nederland B.V., Zwolle Scania Japan Ltd., Tokyo Scania Korea Ltd., Seoul Scania Korea Seoul Ltd., Seoul Scania Latin America Ltda., São Bernardo do Campo Scania Latvia SIA, Riga Scania Leasing d.o.o., Ljubljana Scania Leasing Ltd., Dublin Scania Leasing Österreich GmbH, Brunn am Gebirge Scania Lízing Kft., Biatorbágy Scania Location S.A.S., Angers Scania Logistics Netherlands B.V., Zwolle Scania Luxembourg S.A., Munsbach Scania Makedonija d.o.o.e.l., Ilinden Scania Maroc S.A., Casablanca Scania Middle East FZE, Dubai Scania Milano S.p.A., Trento Scania Moçambique, S.A., Beira Scania Namibia (Pty) Ltd., Windhoek Scania Nederland B.V., Breda Scania Omni AB, Södertälje Scania Österreich GmbH, Brunn am Gebirge Scania Österreich Holding GmbH, Brunn am Gebirge Scania Overseas AB, Södertälje Scania Polska S.A., Nadarzyn Scania Portugal S.A., Vialonga Scania Power Polska Sp. z o.o., Warsaw Scania Production Angers S.A.S., Angers Scania Production Meppel B.V., Meppel Scania Production Slupsk S.A., Slupsk Scania Production Zwolle B.V., Zwolle Scania Projektfinans AB, Södertälje Scania Properties Ltd., Milton Keynes Scania Real Estate (UK) Ltd., Milton Keynes Scania Real Estate AB, Södertälje Scania Real Estate Belgium N.V., Neder-Over-Heembeek Scania Real Estate Bulgaria EOOD, Sofia Scania Real Estate Czech Republic s.r.o., Prague Scania Real Estate d.o.o. Beograd, Belgrade Scania Real Estate Finland Oy, Helsinki Scania Real Estate France S.A.S., Angers Scania Real Estate Hispania S.L., Pontevedra Scania Real Estate Holding Luxembourg S.à.r.l, Munsbach Scania Real Estate Holding Oy, Helsinki Scania Real Estate Hong Kong Ltd., Hong Kong Scania Real Estate Hungaria Kft., Biatorbágy Scania Real Estate Lund AB, Södertälje Scania Real Estate Österreich GmbH, Brunn am Gebirge Scania Real Estate Polska Sp. z o.o., Nadarzyn Scania Real Estate Romania S.R.L., Ciorogârla Scania Real Estate Schweiz AG, Kloten Scania Real Estate Services AB, Södertälje Scania Real Estate Slovakia s.r.o., Senec Scania Real Estate The Netherlands B.V., Breda Scania Regional Agent de Asigurare S.R.L., Ciorogârla Scania Rent Bulgaria EOOD, Sofia Scania Rent Romania S.R.L., Ciorogârla Scania Romania S.R.L., Ciorogârla Scania Sales (China) Co., Ltd., Beijing Scania Sales and Service (Guangzhou) Co., Ltd., Guangzhou Scania Sales and Services AB, Södertälje Scania Schweiz AG, Kloten Scania Services del Perú S.A., Lima Scania Services S.A., Buenos Aires Scania Servicios, S.A. de C.V., Queretaro Scania Siam Co. Ltd., Bangkok Scania Siam Leasing Co. Ltd., Bangkok Scania Singapore Pte. Ltd., Singapore Scania Slovakia s.r.o., Senec Scania Slovenija d.o.o., Ljubljana Scania South Africa (Pty) Ltd., Aeroton Scania Srbija d.o.o., Krnješevci Scania Suomi Oy, Helsinki Scania Sverige Bussar AB, Södertälje Scania Tanzania Ltd., Dar es Salaam Scania Thailand Co. Ltd., Bangkok Scania Trade Development AB, Södertälje Scania Transportlaboratorium AB, Södertälje Scania Treasury AB, Södertälje Scania Treasury Belgium N.V., Neder-Over-Heembeek Scania Treasury Luxembourg S.àr.l, Luxembourg Scania Trucks & Buses AB, Södertälje Scania USA Inc., San Antonio / TX Scania Used Vehicles AB, Södertälje Scania West Africa Ltd., Accra Scania Yangsan Ltd., Yangsan Scania-Bilar Sverige AB, Södertälje Scania-Kringlan AB, Södertälje Scanlink Ltd., Milton Keynes Scanrent - Alguer de Viaturas sem Condutor, S.A., Santa Iria de Azóia Scantruck Ltd., Milton Keynes SCI 108 Pasteur, Chasseneuil-du-Poitou SCI Actipolis, Chasseneuil-du-Poitou Exchange rate (€1 =) Currency Dec. 31, 2015 SEK EUR EUR JPY KRW KRW BRL EUR EUR EUR EUR HUF EUR EUR EUR MKD MAD AED EUR MZN NAD EUR SEK EUR EUR SEK PLN EUR PLN EUR EUR PLN EUR SEK GBP GBP SEK EUR BGN CZK RSD EUR EUR EUR EUR EUR HKD HUF SEK EUR PLN RON CHF SEK EUR EUR RON BGN RON RON CNY CNY SEK CHF PEN ARS MXN THB THB SGD EUR EUR ZAR RSD EUR SEK TZS THB SEK SEK SEK SEK SEK SEK USD SEK GHS KRW SEK SEK GBP EUR GBP EUR EUR 9.1895 131.0700 1,280.7800 1,280.7800 4.3117 315.9800 61.5700 10.7831 4.0003 51.1500 16.9355 9.1895 9.1895 4.2639 4.2639 4.2639 9.1895 0.7339 0.7339 9.1895 1.9558 27.0230 121.6200 8.4376 315.9800 9.1895 4.2639 4.5240 1.0835 9.1895 4.5240 1.9558 4.5240 4.5240 7.0608 7.0608 9.1895 1.0835 3.7081 14.1351 18.9145 39.2480 39.2480 1.5417 16.9530 121.6200 9.1895 2,352.4600 39.2480 9.1895 9.1895 9.1895 9.1895 9.1895 9.1895 1.0887 9.1895 4.1495 1,280.7800 9.1895 9.1895 0.7339 0.7339 VW AG's interest in capital in % Direct Indirect - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.91 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.91 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 65,598 845 2,748 13,047 2,684,312 23,501,960 1,400,536 5,147 1,698 100 7,651 480,010 11,687 2,855 1,316 117,504 7,766 553 68,943 10,759 7,182 5,279 18,615 95,021 89,228 6,646 88 29,217 12,248 46,559 29,812 54,673 501 5,786 96,310 12,356 63 359,385 623 7,597 2,988 113 5,852 5,571 100 906,059 106 8,994 36,062 2,779 3,306 1,163,415 9,505 21,062 544 937 11,525 71,613 6,166 2,393,257 25,058 18,783 10,005 14,656 305,072 218,317 14,894 183,553 5,801 313,973 278,740 24,285 42,966 3,000,000 107,819 429,281 3,486 979,288 291 826,426 122,906 2,126 4,518 4,882,903 150,270 6,000 1,956 21,204 1,671 6 211 Profit/loss in thousands, local currency 913 28 137 9,491 -2,559,132 11,501,960 544,227 1,532 383 -1,888 5,213 100 932 -36,352 23,932 17,629 179 18,403 2,077 -962 -5 0 32,068 2,016 -1,561 1,609 1,094 2,237 4,997 2,183 374 -2,484 1,653 -5 18,674 -79 1,680 -6 76 223 -12 -75 92,639 0 2,075 3,735 30 1,255 275,181 233 2,060 188 1,530 -717 -40,021 -14,217 669,175 20,529 8,613 1,141 524 29,117 33,390 8,432 2,490 1,367 149,345 54,333 14,630 139,425 23,104 67,095 0 19,116 -13 -14,819,023 156 -2,053 -14,791 -698,337 4,125 1,275 4 210 Footnote 4) 5) 6) 5) 5) 6) 14) 5) 5) 4) 6) 5) 5) 5) Year 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 Name and domicile of company SCI Carlet, Chasseneuil-du-Poitou SCI Carsan, Chasseneuil-du-Poitou SCI Croix Mesnil, Chasseneuil-du-Poitou SCI de la rue des Chantiers, Chasseneuil-du-Poitou SCI de la rue du Blason, Chasseneuil-du-Poitou SCI de la Tour, Chasseneuil-du-Poitou SCI de Loison, Chasseneuil-du-Poitou SCI des Petites Haies de Valenton, Chasseneuil-du-Poitou SCI des Pres, Chasseneuil-du-Poitou SCI Dieu & Compagnie, Chasseneuil-du-Poitou SCI du Billemont, Roncq SCI du Boulevard d'Halluin, Chasseneuil-du-Poitou SCI du Carrefour de Courrieres, Chasseneuil-du-Poitou SCI du Pont Rouge, Chasseneuil-du-Poitou SCI du Prieure, Chasseneuil-du-Poitou SCI du Ruisseau, Chasseneuil-du-Poitou SCI du Triangle, Chasseneuil-du-Poitou SCI Expansion 57, Chasseneuil-du-Poitou SCI Faema, Chasseneuil-du-Poitou SCI Foch 47, Chasseneuil-du-Poitou SCI Fond du Val, Chasseneuil-du-Poitou SCI GMC, Chasseneuil-du-Poitou SCI Heninoise de l'Automobiles, Chasseneuil-du-Poitou SCI La Fonciere Marjolin, Paris SCI La Vrillonnerie, Chasseneuil-du-Poitou SCI Lavoisier Novo, Chasseneuil-du-Poitou SCI Lea, Chasseneuil-du-Poitou SCI Les Champs Dronckaert, Chasseneuil-du-Poitou SCI Les Ribes Plein Sud, Chasseneuil-du-Poitou SCI Lievinoise, Chasseneuil-du-Poitou SCI Lumière, Chasseneuil-du-Poitou SCI R19, Chasseneuil-du-Poitou SCI Santa Sofia, Chasseneuil-du-Poitou SCI SCENI II, Chasseneuil-du-Poitou SCI Servagnin, Chasseneuil-du-Poitou SCI Sipamar, Chasseneuil-du-Poitou SCI Thomas, Chasseneuil-du-Poitou SEAT Austria GmbH, Salzburg SEAT Motor España S.A., Barcelona SEAT Portugal Unipessoal, Lda., Lisbon SEAT, S.A., Martorell Securycar S.A.S., Paris Sevilla Wagen, S.A., Seville SITECH Sp. z o.o., Polkowice ŠKODA AUTO a.s., Mladá Boleslav SKODA AUTO India Pvt. Ltd., Aurangabad SKODA AUTO Slovensko, s.r.o., Bratislava ŠkoFIN s.r.o., Prague Skywalker Ltd., George Town SNAB S.A., Zaventem Sochaux Motors S.A.S., Paris Société Angérienne de Véhicules Industriels (SAVIA) S.A.S., Chauray Société Commerciale Automobile du Poitou (S.C.A.P.) S.A.S., Poitiers Société Commerciale Diffusion Automobile du Poitou S.A.S., Poitiers Société de Distribution Automobile Laonnoise S.A.S., Chambry Société de Mécanique de Précision de I'Aubois, Jouet-sur-l'Aubois Société de Vente d'Automobiles de Créteil SVAC S.A.S., Créteil Société des Automobiles de la Thierache S.A.S., Hirson Société des Automobiles du Soissonnais S.A.S., Billy-sur-Aisne Société d'Exploitation Garage Carlet S.A.S., Chasseneuil-du-Poitou Société Valentinoise de Commerce Automobile - SOVACA S.A.S., Valence Södertälje Bilkredit AB, Södertälje SOE Busproduction Finland Oy, Lahti Sofidem S.A.S., Chasseneuil-du-Poitou Somat S.A.R.L., Saint-Cyr-sur-Loire Sonauto Lille S.A.S., Villeneuve d'Ascq Sonauto Lyon S.A.S., Champagne-au-Mont-d'Or Sonauto Reims S.A.S., Thillois Sonauto Roissy S.A.S., Villeneuve d'Ascq Sonauto S.A.S., Chasseneuil-du-Poitou Southway Scania Ltd., Milton Keynes SRE Kiruna AB, Södertälje Stockholms Industriassistans AB, Södertälje Stuttgart Motors S.A.S., Paris Suvesa Super Veics Pesados Ltda., Eldorado do Sul Suzhou Binjie Automobile Sales and Service Co., Ltd., Suzhou Suzhou Jiejun Automobile Sales and Service Co., Ltd., Suzhou Suzhou Jiejun Automobile Trading Co., Ltd., Suzhou Suzhou Junbaohang Automobile Sales and Service Co., Ltd., Suzhou Taizhou Junbaojie Automobile Sales and Service Co., Ltd., Taizhou Techstar 86 S.A.R.L., Poitiers Techstar Marne La Vallée S.A.S., Montévrain Techstar Meaux S.A.S., Meaux Techstar S.A.S., Vert-Saint-Denis Terwolde B.V., Groningen Terwolde Holding B.V., Veenendaal TF Motors S.A.S., Chasseneuil-du-Poitou Touraine Automobiles S.A.S., St. Cyr-sur-Loire Tourisme Automobiles S.A.R.L., Angers TOV Donbas-Scan-Service, Makijivka TOV Kyiv-Scan, Kiev TOV MAN Truck & Bus Ukraine, Kiev TOV Scania Credit Ukraine, Kiev TOV Scania Ukraine, Kiev TOV Scania-Lviv, Lviv Exchange rate (€1 =) Currency Dec. 31, 2015 EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR PLN CZK INR EUR CZK USD EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR SEK EUR EUR EUR EUR EUR EUR EUR EUR GBP SEK SEK EUR BRL CNY CNY CNY CNY CNY EUR EUR EUR EUR EUR EUR EUR EUR EUR UAH UAH UAH UAH UAH UAH 4.2639 27.0230 72.0215 27.0230 1.0887 9.1895 0.7339 9.1895 9.1895 4.3117 7.0608 7.0608 7.0608 7.0608 7.0608 26.1689 26.1689 26.1689 26.1689 26.1689 26.1689 VW AG's interest in capital in % Direct Indirect - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 70.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.98 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 70.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 90.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.98 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 472 409 206 76 59 236 19 199 197 279 250 84 858 305 184 71 58 34 132 92 52 492 36 465 200 89 137 84 637 133 188 183 124 10 -186 80 -9 7,377 206 204 533,433 1,773 5,430 599,729 117,481,747 5,432,127 15,226 4,753,462 -1,544 34,367 4,554 8,806 3,358 2,622 714 1,953 845 1,930 653 1,162 100 2,464 3,373 833 3,202 1,971 3,037 8,141 1,170 53,956 11,068 12,644 48,659 15,404 173,646 11,229 84,749 162,217 1,260 1,103 1,581 9,397 2,621 2,492 568 762 983 18,737 25,011 -46,915 5,994 -170,407 38,026 Profit/loss in thousands, local currency 149 107 145 70 58 228 17 197 195 279 189 83 72 290 172 70 19 26 44 16 51 287 -25 5 117 87 135 83 347 131 -12 168 76 0 73 58 -13 2,180 -115 -36 -65,768 1,712 225 180,966 30,816,323 753,771 1,277 342,937 -1,332 -2,149 436 540 321 399 594 170 174 345 185 -535 461 388 -19 576 505 -161 869 3 0 272 2,299 -5,561 22,303 -6,442 10,024 24,521 93 47 108 501 136 -7 -833 -612 -2,518 -3,040 9,072 12,410 -155,828 -501 Footnote 12) 3) 11) 15) 5) 7) 5) 4) 5) Year 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 Name and domicile of company Trembler Air Ltd., George Town UAB Scania Lietuva, Vilnius Union Trucks Ltd., Milton Keynes Universeel Autoschadeherstelbedrijf B.V., Utrecht Vabis Bilverkstad AB, Södertälje Vabis Försäkringsaktiebolag, Södertälje Vabis Transportation Services (Guangxi) Ltd., Beihai Valiege S.A.S., Orvault Valladolid Wagen, S.A., Valladolid VCI Loan Services, LLC, Salt Lake City / UT VCL Master Residual Value S.A., Luxembourg VCL Master S.A., Luxembourg VCL Multi-Compartment S.A., Luxembourg Verdun-Aix S.A.S., Aix-en-Provence Vienne Sud Automobiles S.A.S., Civray Vindbron Arendal AB, Södertälje Vitrolles Automobiles et Service S.A.S., Saint-Victoret Vitry Automobiles S.A.S., Vitry-sur-Seine Volkswagen (China) Investment Co., Ltd., Beijing Volkswagen Argentina S.A., Buenos Aires Volkswagen Auto Lease Entity, LLC, Herndon / VA Volkswagen Auto Lease Loan Underwritten Funding, LLC, Herndon / VA Volkswagen Auto Loan Vehicle, LLC, Herndon / VA Volkswagen Auto Securitization Transaction, LLC, Herndon / VA Volkswagen Autoeuropa, Lda., Quinta do Anjo Volkswagen Automatic Transmission (Dalian) Co., Ltd., Dalian Volkswagen Automatic Transmission (Tianjin) Co., Ltd., Tianjin Volkswagen Automotive Finance, LLC, Herndon / VA Volkswagen Bank Polska S.A., Warsaw Volkswagen Bank S.A., Institución de Banca Múltiple, Puebla Volkswagen BCN, S.A., Barcelona Volkswagen Corretora de Seguros Ltda., São Paulo Volkswagen Credit Companía Financiera S.A., Buenos Aires Volkswagen de México, S.A. de C.V., Puebla Volkswagen Dealer Finance, LLC, Herndon / VA Volkswagen do Brasil Indústria de Veículos Automotores Ltda., São Bernardo do Campo Volkswagen Enhanced Auto Lease, LLC, Herndon / VA Volkswagen Finance (China) Co., Ltd., Beijing Volkswagen Finance Belgium S.A., Brussels Volkswagen Finance Cooperation B.V., Amsterdam Volkswagen Finance Luxemburg S.A., Luxembourg Volkswagen Finance Overseas B.V., Amsterdam Volkswagen Finance Pvt. Ltd., Mumbai Volkswagen Finance S.A. - Establecimiento financiero de crédito - , Madrid Volkswagen Financial Services (UK) (June) Ltd., Milton Keynes Volkswagen Financial Services (UK) (March) Ltd., Milton Keynes Volkswagen Financial Services (UK) (September) Ltd., Milton Keynes Volkswagen Financial Services (UK) Ltd., Milton Keynes Volkswagen Financial Services Australia Pty. Ltd., Chullora Volkswagen Financial Services Japan Ltd., Tokyo Volkswagen Financial Services Korea Co., Ltd., Seoul Volkswagen Financial Services N.V., Amsterdam Volkswagen Finančné služby Slovensko s.r.o., Bratislava Volkswagen Finans Sverige AB, Södertälje Volkswagen Global Finance Holding B.V., Amsterdam Volkswagen Group Australia Pty. Ltd., Chullora Volkswagen Group Canada, Inc., Ajax / ON Volkswagen Group Firenze S.p.A., Florence Volkswagen Group France S.A., Villers-Cotterêts Volkswagen Group Import Co., Ltd., Tianjin Volkswagen Group Ireland Ltd., Dublin Volkswagen Group Italia S.p.A., Verona Volkswagen Group Japan K.K., Toyohashi Volkswagen Group of America Chattanooga Operations, LLC, Chattanooga / TN Volkswagen Group of America Finance, LLC, Herndon / VA Volkswagen Group of America, Inc., Herndon / VA Volkswagen Group Polska Sp. z o.o., Poznań Volkswagen Group Retail Spain, S.L., El Prat de Llobregat Volkswagen Group Sales India Pvt. Ltd., Mumbai Volkswagen Group Services S.A., Brussels Volkswagen Group Singapore Pte. Ltd., Singapore Volkswagen Group Sverige AB, Södertälje Volkswagen Group United Kingdom Ltd., Milton Keynes Volkswagen Holding Financière s.a., Villers-Cotterêts Volkswagen Holding Österreich GmbH, Salzburg Volkswagen Independent Borrowing Entity, LLC, Herndon / VA Volkswagen India Pvt. Ltd., Pune Volkswagen International Finance N.V., Amsterdam Volkswagen International Luxemburg S.A., Luxembourg Volkswagen Japan Sales K.K., Tokyo Volkswagen Leasing S.A. de C.V., Puebla Volkswagen Madrid, S.A., Madrid Volkswagen Motor Polska Sp. z o.o., Polkowice Volkswagen Navarra, S.A., Pamplona Volkswagen of South Africa (Pty) Ltd., Uitenhage Volkswagen Operating Lease Transaction, LLC, Herndon / VA Volkswagen Participações Ltda., São Paulo Volkswagen Poznan Sp. z o.o., Poznań Volkswagen Public Auto Loan Securitization, LLC, Herndon / VA Volkswagen Renting, S.A., Madrid Volkswagen Renting, Unipessoal, Lda., Amadora Volkswagen S.A. de Ahorro Para Fines Determinados, Buenos Aires Volkswagen Serviços Ltda., São Paulo Volkswagen Slovakia, a.s., Bratislava Volkswagen Truck & Bus AB, Södertälje Exchange rate (€1 =) Currency Dec. 31, 2015 USD LTL GBP EUR SEK SEK CNY EUR EUR USD EUR EUR EUR EUR EUR SEK EUR EUR CNY ARS USD USD USD USD EUR CNY CNY USD PLN MXN EUR BRL ARS MXN USD BRL USD CNY EUR EUR EUR EUR INR EUR GBP GBP GBP GBP AUD JPY KRW EUR EUR SEK EUR AUD CAD EUR EUR CNY EUR EUR JPY USD USD USD PLN EUR INR EUR SGD SEK GBP EUR EUR USD INR EUR EUR JPY MXN EUR PLN EUR ZAR USD BRL PLN USD EUR EUR ARS BRL EUR SEK 1.0887 3.4528 0.7339 9.1895 9.1895 7.0608 1.0887 9.1895 7.0608 14.1351 1.0887 1.0887 1.0887 1.0887 7.0608 7.0608 1.0887 4.2639 18.9145 4.3117 14.1351 18.9145 1.0887 4.3117 1.0887 7.0608 72.0215 0.7339 0.7339 0.7339 0.7339 1.4897 131.0700 1,280.7800 9.1895 1.4897 1.5116 7.0608 131.0700 1.0887 1.0887 1.0887 4.2639 72.0215 1.5417 9.1895 0.7339 1.0887 72.0215 131.0700 18.9145 4.2639 16.9530 1.0887 4.3117 4.2639 1.0887 14.1351 4.3117 9.1895 VW AG's interest in capital in % Direct Indirect 100.00 100.00 100.00 100.00 10.02 100.00 90.98 70.00 100.00 100.00 90.99 100.00 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 20.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 89.98 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 9.02 30.00 100.00 100.00 100.00 9.01 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 20.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 15,808 573 1,173 101 131,626 435 1,698 31 31 31 4,756 1,095 15,407 2,782 1,350 42,747,740 3,116,703 372,367 3,667,610 2,386,707 324,060 1,408,000 603 54,637 73,072 35,618,106 1,349,046 5,032,850 325,951 -653 9,416,060 522,292 11,762,592 437,925 622,478 225,533 10,822,928 185,016,979 724,336 48,506 3,421,070 123 119,931 233,611 481 236,343 1,262,614 13,541 457,192 23,697,864 215,542 2,686 729,382 366,515 28,412 4,688,615 10,510,520 28,983 1,124,519 725,208 194,714 3,323,037 31,382,200 705,910 1,639 3,429,260 3,878,452 2,657 888,457 679,854 11,608,523 2,710,412 2,788,692 23,808 523 83,728 34,570 1,329,369 120 Profit/loss in thousands, local currency Footnote Year 11) 4,059 5) 87 5) 10,050 6) 68 583 11) 4) 16) 16) 16) 918 160 0 153 7) 55 11,391,126 -2,572,148 - 5) 11) 16) 11) 16) 11) 16) 11) 16) 34,598 1,826,614 -450,691 11) 16) 30,637 12) 122,000 -33 14,995 9,326 1,470,699 12) 11) 16) -2,653,412 - 5) 11) 16) 501,266 4,623 -139 501,829 -139 633,761 3) 43,694 5) 11) 5) 11) 5) 11) 128,078 10) 12) 10,187 1,411,537 11,824,320 12,942 4,315 171,773 -8 12,331 16,179 12) -1,687 48,755 281,909 3,112 1,909 -1,908,414 48,174 12) 1,686 3) 12) 55,482 12) 77,674 -1,595 948,679 3) 188,598 1,270 243,633 14) 120,100 818 -323 11) 16) 6,044,710 3) 422,937 1,600 451,399 1,053,726 230 171,248 12) 60,770 1,798,824 12) - 5) 11) 16) 434,490 319,991 12) 11) 16) 8,984 270 65,248 8,820 124,249 12) 5) 2013 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 Name and domicile of company Exchange rate (€1 =) Currency Dec. 31, 2015 Volkswagen-Audi España, S.A., El Prat de Llobregat Volkswagen-Versicherungsdienst GmbH, Vienna VW Credit Canada Funding GP, Inc., Ajax / ON VW Credit Canada Funding L.P., Ajax / ON VW Credit Canada Leasing ULC, Calgary / AL VW Credit Canada, Inc., St. Laurent / QC VW Credit Leasing Ltd., Herndon / VA VW Credit, Inc., Herndon / VA Westrucks Ltd., Milton Keynes Wittenberg B.V., Amersfoort Wittenberg Holding B.V., Veenendaal Wolfsburg Motors S.A.S., Paris Zhejiang Jiejun Automobile Sales and Service Co., Ltd., Hangzhou Zhuhai Jiejun Automobile Sales and Service Co., Ltd., Zhuhai ZSF Services S.A.S., Chasseneuil-du-Poitou EUR EUR CAD CAD CAD CAD USD USD GBP EUR EUR EUR CNY CNY EUR B. Unconsolidated companies 1. Germany 4Collection GmbH, Braunschweig ALU-CAR GmbH, Winterberg Audi Business Innovation GmbH, Ingolstadt Audi e-gas Betreibergesellschaft mbH, Ingolstadt AUDI Immobilien Verwaltung GmbH, Ingolstadt Audi Neckarsulm Immobilien GmbH, Neckarsulm Audi Planung GmbH, Ingolstadt Audi Real Estate GmbH, Ingolstadt Audi Stiftung für Umwelt GmbH, Ingolstadt Auto Union GmbH, Ingolstadt Autohaus Gawe GmbH, Berlin Automotive Safety Technologies GmbH, Gaimersheim AZU Autoteile und -zubehör Vertriebs GmbH, Dreieich BELIMA Verwaltung GmbH, Pullach i. Isartal Carmeq GmbH, Berlin carmobility GmbH, Braunschweig CC WellCom GmbH, Potsdam csi Entwicklungstechnik GmbH, Gaimersheim CSI Entwicklungstechnik GmbH, Munich csi entwicklungstechnik GmbH, Neckarsulm csi entwicklungstechnik GmbH, Sindelfingen csi Verwaltungs GmbH, Neckarsulm Daraja GrundstücksverwaltungsgeselIschaft mbH & Co. Vermietungs KG, Wiesbaden Datura Grundstücksverwaltungsgesellschaft mbH & Co. Vermietungs KG, Mainz Eberhardt Verwaltungsgesellschaft mbH, Ulm Euromobil Autovermietung GmbH, Isernhagen FC Ingolstadt 04 Stadionbetreiber GmbH, Ingolstadt Groupe Volkswagen France Grundstücksgesellschaft mbH, Wolfsburg HABAMO Verwaltung GmbH & Co. Objekt Sterkrade KG, Pullach i. Isartal Held & Ströhle GmbH, Neu-Ulm Italdesign-Giugiaro Deutschland GmbH, Wolfsburg MAHAG Verwaltungs GmbH, Munich MAN Erste Beteiligungs GmbH, Munich MAN Grundstücksgesellschaft mbH & Co. Gamma KG, Munich MAN Grundstücksgesellschaft mbH, Oberhausen MAN IT Services GmbH, Munich MAN Personal Services GmbH, Dachau MAN Versicherungsvermittlung GmbH, Munich Manthey Racing GmbH, Meuspath MAN-Unterstützungskasse GmbH, Munich MMI Marketing Management Institut GmbH, Braunschweig MOLTANDO Vermietungsgesellschaft mbH & Co. Objekt Kassel KG, Düsseldorf NSU GmbH, Neckarsulm Ortan Verwaltung GmbH & Co. Objekt Karlsfeld KG, Pullach i. Isartal Porsche Erste Vermögensverwaltung GmbH, Wolfsburg Porsche Niederlassung Mannheim GmbH, Bietigheim-Bissingen Porsche Werkzeugbau GmbH, Stuttgart Rent-X GmbH, Braunschweig sunhill technologies GmbH, Bubenreuth tcu Turbo Charger GmbH, Augsburg TKI Automotive GmbH, Gaimersheim Vehicle Trading International (VTI) GmbH, Braunschweig Volkswagen Design Center Potsdam GmbH, Potsdam Volkswagen Group IT Services GmbH, Wolfsburg Volkswagen Group Partner Services GmbH, Wolfsburg Volkswagen Infotainment GmbH, Wolfsburg Volkswagen Klassik GmbH, Wolfsburg Volkswagen Motorsport GmbH, Hanover Volkswagen Procurement Services GmbH, Wolfsburg Volkswagen Retail Dienstleistungsgesellschaft mbH, Berlin Volkswagen-Bildungsinstitut GmbH, Zwickau Weser-Ems Vertriebsgesellschaft mbH, Bremen ZENDA Dienstleistungen GmbH, Würzburg EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR 2. International 3C Solutions S.A.S., Reims A4EX, LLC, Herndon / VA ABCIS Aubière SNC, Aubière ABCIS Clermont SNC, Fitz-James ABCIS Creuzier S.A.S., Creuzier-le-Vieux Alliance Motors S.A.S., Reims Alliance Motors 29 S.A.S., Versailles Alsauto S.A.S., Chasseneuil-du-Poitou Apolo Administradora de Bens S/S Ltda., São Bernardo do Campo Assivalo Prestação de Serviços Auxiliares do Setor de Seguros Ltda., São Paulo Audi México Real Estate S. de R.L. de C.V., San José Chiapa Auto Avenir Arden - 3A S.A.S., Charleville-Mezieres EUR USD EUR EUR EUR EUR EUR EUR BRL BRL USD EUR 1.5116 1.5116 1.5116 1.5116 1.0887 1.0887 0.7339 7.0608 7.0608 1.0887 4.3117 4.3117 1.0887 VW AG's interest in capital in % Direct Indirect Total Equity in thousands, local currency Profit/loss in thousands, local currency - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 124,922 13,660 2,780,671 336 951 2,859 12,319 302,174 41,785 708 17,641 2,640 252,857 -443 867 29,273 -18,060 177 100.00 100.00 100.00 81.25 - 100.00 80.80 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 75.50 100.00 100.00 100.00 100.00 100.00 100.00 100.00 80.00 49.01 94.00 94.00 100.00 100.00 100.00 100.00 100.00 70.30 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 51.00 100.00 100.00 100.00 100.00 100.00 100.00 92.87 100.00 51.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 80.80 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 75.50 100.00 100.00 100.00 100.00 100.00 100.00 100.00 80.00 49.01 94.00 94.00 100.00 100.00 100.00 100.00 100.00 70.30 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 51.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 92.87 100.00 51.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 81.25 100.00 25 537 1,050 25 22,884 70 793 -6 5,010 8,181 307 4,790 80 3,100 250 1,244 1,319 713 1,842 797 6,285 567 0 43 779 682 31 3,537 110 758 22 24 2,251 2,557 100 25 317 1,446 987 512 50 782 14 2,433 14,381 15,024 342 47 7,412 2,763 2,521 200 144 25 3,138 100 259 256 8,106 2,970 262 28 29 -42 -62 725 -2 889 476 885 297 3,989 -206 -223 1 1 -13 7 367 2 -1 156 502 -245 360 2,581 -1,346 1,256 4,091 540 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 -46 -53 2,751 1,325 1,668 7,773 - -59 -65 8 4 105 -233 - Footnote 11) 16) 11) 16) 11) 11) 11) 10) 12) 5) 1) 5) 1) 1) 1) 1) 1) 5) 16) 1) 1) 1) 16) 16) 1) 1) 4) 1) 1) 1) 1) 1) 16) 1) 1) 1) 5) 7) 8) 13) 7) 1) 5) 1) 1) 1) 1) 1) 15) 1) 5) 1) 1) 1) 1) 7) 6) 7) 7) 4) 7) Year 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2015 2014 2015 2015 2014 2015 2015 2014 2014 2014 2015 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2015 2015 2015 2014 2014 2014 2014 2014 2015 2014 2014 2015 2014 2015 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2015 2015 2014 2014 2014 2015 2015 2014 2014 2014 2014 2015 Name and domicile of company Auto Avenir Distribution S.A.S., Reims Auto Avenir Relais S.A.S., Château Thierry Auto Services Landi SNC, Plouigneau Automobiles Villers Services S.A.S., Villers-Cotterêts Automotor S.A.S., Magenta Automotors Toul S.A.R.L., Laxou Autovale Bleu S.A., Arras AutoVisão Brasil Desenvolvimento de Negócios Ltda., São Bernardo do Campo AutoVision Lifestyle S.r.l., Verona AutoVision Magyarország Kft., Györ AutoVision S.A., Brussels AutoVision Slovakia, s.r.o., Bratislava A-Vision - Prestação de Serviços á Indústria Automóvel, unipessoal, Lda., Palmela A-Vision People, Empresa de trabalho temporário, unipessoal, Lda., Palmela Bentley Insurance Services Ltd., Crewe Bentley Motor Cars, Inc., Boston / MA Bentley Motor Export Services Ltd., Crewe Brie Champagne Automobiles S.A., Versailles Call Services S.A.S., Chasseneuil-du-Poitou Cariviera S.A.S., Nizza Carrosserie 16 S.A.R.L., Champniers Centrales Diesel Export S.A.S., Villepinte Centre Automobile De La Riviera Car S.A.S., Nizza CJ Location S.A.R.L., Longeville-lès-Saint-Avold Cofia S.A., Paris Cofical Renk Mancais do Brasil Ltda., Guaramirim Croisette Automobiles S.A.S., Charleville-Mezieres Dalegrid Ltd., Reading Demand Solutions, LLC, San Francisco / CA Dencop A/S, Copenhagen Dispro S.A.S., Poitiers DLSA Automobiles S.A.S., Versailles Ducati Canada, Inc., Saint John / NB Ducati India Pvt. Ltd., New Delhi e4t electronics for transportation s.r.o., Prague ERF (Holdings) plc, Swindon Espace Carrosserie 51 S.A.S., Reims Espace RN 14 S.A.S., Epinay-sur-Seine Etablissements A. Cachera S.A.R.L., Oignies Etablissements Vance S.A.S., Meaux EVDAK TOV, Kiev Exclusive Motors S.A.R.L., Paris Fifty Two Ltd., Stockport FM Motors Location S.A.R.L., Villeneuve d'Ascq Fondazione Ducati, Bologna Garage Chandelier S.A.S., Cambrai Garage du Rond Point S.A.R.L., Courrières Garage Saint Vaast S.A.S., Béthune Gonesse Autos S.A.S., Gonesse Grand Garage de la route de Dunkerque S.A.S., Gravlines Guangzhou Zhiwei Car Leasing Co., Ltd., Guangzhou H. J. Mulliner & Co. Ltd., Crewe Hangzhou Jieshenghang Automobile Sales and Service Co., Ltd., Hangzhou Hangzhou Xiaoshan Shidai Junbaohang Automobile Sales and Service Co., Ltd., Hangzhou Holding Financière de l'Avenir S.A., Versailles IC Automobiles S.A., Versailles INIS International Insurance Service s.r.o., ve zkratce INIS s.r.o., Mladá Boleslav Instituto para Formación y Desarrollo Volkswagen, S.C., Puebla InterRent Biluthyrning AB, Södertälje Italdesign Giugiaro Barcelona S.L., Barcelona Jacques Duverney Evian S.A.R.L., Evian-les-Bains Jean Richir S.A., Noyelles-Godault L.A.M. d.o.o., Velika Gorica Le Vignoble S.A.S., Reims LKW Komponenten s.r.o., Bánovce nad Bebravou Lys-Contrôle S.A.R.L., Nieppe MAN Diesel & Turbo Argentina S.A., Buenos Aires MAN Diesel & Turbo Bangladesh Ltd., Dhaka MAN Diesel & Turbo Bulgaria EOOD, Varna MAN Diesel & Turbo Canarias S.L., Las Palmas MAN Diesel & Turbo Costa Rica Ltda., San José MAN Diesel & Turbo Egypt LLC, Cairo MAN Diesel & Turbo Engine Services Ltd., in Liquidation, Stockport MAN Diesel & Turbo Guatemala Ltda., Guatemala City MAN Diesel & Turbo Japan Ltd., Kobe MAN Diesel & Turbo Jordan LLC, Aqaba MAN Diesel & Turbo Kenya Ltd., Nairobi MAN Diesel & Turbo Lanka Pvt. Ltd., Colombo MAN Diesel & Turbo Malaysia Oil & Gas Sdn. Bhd., Kuala Lumpur MAN Diesel & Turbo Malaysia Sdn. Bhd., Kuala Lumpur MAN Diesel & Turbo Mexico, S. de R.L. de C.V., Mexico City MAN Diesel & Turbo Muscat LLC, Muscat MAN Diesel & Turbo New Zealand Ltd., Auckland MAN Diesel & Turbo Norge A/S, Oslo MAN Diesel & Turbo Panama Enterprises Inc., Panama City MAN Diesel & Turbo Perú S.A.C., Lima MAN Diesel & Turbo Philippines Inc., Manila MAN Diesel & Turbo Poland Sp. z o.o., Gdansk MAN Diesel & Turbo Portugal, Unipessoal, Lda., Setúbal MAN Diesel & Turbo Private (Nigeria) Ltd., Lagos MAN Diesel & Turbo Qatar Navigation LLC, Doha MAN Diesel & Turbo Sénégal SARL, Dakar MAN Diesel & Turbo Sverige AB, Göteborg MAN Diesel Electrical Services Ltd., in Liquidation, Essex Exchange rate (€1 =) Currency Dec. 31, 2015 EUR EUR EUR EUR EUR EUR EUR BRL EUR EUR EUR EUR EUR EUR GBP USD GBP EUR EUR EUR EUR EUR EUR EUR EUR BRL EUR GBP USD DKK EUR EUR CAD INR CZK GBP EUR EUR EUR EUR UAH EUR GBP EUR EUR EUR EUR EUR EUR EUR CNY GBP CNY CNY EUR EUR CZK MXN SEK EUR EUR EUR HRK EUR EUR EUR ARS BDT BGN EUR CRC EGP GBP GTQ JPY JOD KES LKR MYR MYR MXN OMR NZD NOK USD PEN PHP PLN EUR NGN QAR XOF SEK GBP 4.3117 0.7339 1.0887 0.7339 4.3117 0.7339 1.0887 7.4626 1.5116 72.0215 27.0230 0.7339 26.1689 0.7339 7.0608 0.7339 7.0608 7.0608 27.0230 18.9145 9.1895 7.6380 14.1351 85.4672 1.9558 586.3800 8.5277 0.7339 8.3105 131.0700 0.7722 111.3100 157.1030 4.6959 4.6959 18.9145 0.4193 1.5923 9.6030 1.0887 3.7081 50.9990 4.2639 216.7900 3.9658 655.9570 9.1895 0.7339 VW AG's interest in capital in % Direct Indirect Total Equity in thousands, local currency Profit/loss in thousands, local currency - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 98.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 98.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 126 617 -259 68 3,158 -1,575 1,832 4,995 381 221 45 523 -75 284 1,440 2,245 85 281 19,390 2,541 2,760 0 -7,291 66,740 757 128 753 -189 45 -164 -68 695 0 101,190 30 135 -3 5 705 -1,337 543 893 -12 278 -510 104 -10 266 -31 39 4,330 -13 447 -27,291 13,033 18 -290 -2 -2 81 -26 34 -5,210 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 55.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 49.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 55.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 49.00 100.00 100.00 100.00 35,061 34,153 360 6,202 366 4,094 7,858 84 8,947 32 1,151 -151,491 13,188 366,844 60 38,255 48,820 8,855 28,623 25,229 3,000 443 46,801 1,420 6 21,760 61,010 1,945 0 29,561 6,180 498 4 -9,175 341 2 6,389 252 366 4,605 52,887 62 18,513 21,219 4,485 34,732 3,704 877 -557 14,834 438 -14 3,302 -4,589 1,790 - Footnote Year 7) 7) 2015 2015 2014 2014 2015 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2013 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2014 2014 2015 2014 2015 2014 2014 2015 2015 2014 2015 2014 2014 2014 2014 2014 2015 2014 2015 2015 2014 2015 2014 2014 7) 7) 15) 5) 5) 5) 7) 7) 5) 6) 8) 7) 3) 5) 7) 7) 7) 5) 7) 7) 7) 7) 5) 4) 6) 7) 7) 5) 7) 7) 15) 5) 6) 2) 5) 6) 6) 6) 6) 2) 5) 2015 2015 2015 2014 2014 2014 2015 2014 2015 2014 2015 2014 2014 2014 2015 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2015 2014 2014 2015 2015 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 Name and domicile of company MAN Diesel Services Ltd., in Liquidation, Stockport MAN Diesel Shanghai Co., Ltd., Shanghai MAN Diesel Turbochargers Shanghai Co., Ltd., in Liquidation, Shanghai MAN ERF Ireland Properties Ltd., Waterford MAN Financial Services Administrators (S.A.) (Pty) Ltd., Isando MAN Iran Power Sherkate Sahami Khass, Teheran MAN Latin America Importacao, Industria e Comércio de Veículos Ltda., São Paulo MAN Power Engineering Ltd., in Liquidation, Stockport MAN Properties (Midrand) (Pty) Ltd., Isando MAN Properties (Pinetown) (Pty) Ltd., Isando MAN Properties (Pty) Ltd., Isando MAN Truck and Bus India Pvt. Ltd., Mumbai MAN Turbo (UK) Ltd., London MAN Turbomachinery India Pvt. Ltd., Bangalore Mape S.A.S., Versailles Maubeuge Automobiles Colau S.A.S., Maubeuge MBC Mobile Bridges Corp., Houston / TX MHP (Shanghai) Management Consultancy Co., Ltd., Shanghai MHP Consulting Romania S.R.L., Cluj-Napoca Mieschke Hofmann & Partner Americas Inc., Atlanta / GA Mieschke Hofmann und Partner (Schweiz) AG, Regensdorf Mirrlees Blackstone Ltd., Stockport Módulos Automotivos do Brasil Ltda., São José dos Pinhais Mondial Diffusion S.A.R.L., Roncq MSA Groupe S.A.S., Versailles Multiservices Autos Châtellerault S.A.S., Châtellerault Nardò Technical Center S.r.l., Santa Chiara di Nardò NIRA Dynamics AB, Linköping Nord Valenciennes Automobiles S.A.S., Petite-Forêt Norest Automobiles S.A.S., Versailles OOO Automotive Components International RUS, Kaluga OOO MAN Diesel & Turbo Rus, Moscow OOO Volkswagen Financial Services RUS, Moscow Park Ward & Co. Ltd., Crewe Park Ward Motors Inc., Boston / MA Paty Automobiles S.A.S., Lambres-lez-Douai Paxman Diesels Ltd., Stockport PCK TOV, Kiev PDRIVE LLC, Atlanta / GA PGA C1 S.A.S., Chasseneuil-du-Poitou PGA C2 S.A.S., Chasseneuil-du-Poitou PGA C3 S.A.S., Chasseneuil-du-Poitou PGA C4 S.A.S., Chasseneuil-du-Poitou Pont de Vesle Automobiles S.A.S., Reims Porsche Air Service GmbH, Salzburg Porsche Austria GmbH, Salzburg Porsche BH d.o.o., Sarajevo Porsche Brasil Importadora de Veículos Ltda., São Paulo Porsche Broker A.D. Skopje, Skopje Porsche Clearing GmbH, Salzburg Porsche Design Asia Hong Kong Ltd., Hong Kong Porsche Design Great Britain Ltd., London Porsche Design Group Asia Singapore Pte. Ltd., Singapore Porsche Design Italia S.r.l., Padua Porsche Design Netherlands B.V., Roermond Porsche Design of France S.A.R.L., Serris Porsche Design Sales (Shanghai) Co., Ltd., Shanghai Porsche Design Studio North America, Inc., Beverly Hills / CA Porsche Design Timepieces AG, Solothurn Porsche Engineering (Shanghai) Co., Ltd., Shanghai Porsche Engineering Romania S.R.L., Cluj-Napoca Porsche Financial Services Korea LLC, Seoul Porsche Group S.R.L., Voluntari Porsche Immobilien Ukraine TOV, Kiev Porsche Innovative Lease Owner Trust 2016-1, Atlanta / GA Porsche Inter Auto Chile SpA, Santiago de Chile Porsche Inter Auto Ukraine TOV, Kiev Porsche Kosova Sh.p.k., Pristina Porsche Leasing d.o.o., Sarajevo Porsche Leasing Sh.p.k., Tirana Porsche Mobility Sh.p.k., Tirana Porsche Partner d.o.o., Sarajevo Porsche Pensionskasse AG, Salzburg Porsche Retail GmbH, Salzburg Porsche System Engineering Ltd., Zurich Porsche Volkswagen Servicios Financieros Chile SpA, Santiago de Chile Porsche Werkzeugbau s.r.o., Dubnica nad Váhom Premium Buc S.A.R.L., Buc Privas Automobiles SNC, Privas Projet Digital Marketing S.A.S., Chasseneuil-du-Poitou PT MAN Diesel & Turbo Indonesia, Jakarta Putt Estates (Pty) Ltd., Upington Putt Real Estates (Pty) Ltd., Upington Railway Mine & Plantation Equipment Ltd., in Liquidation, London Reims Auto Services S.A.S., Reims Renk (UK) Ltd., London Renk Shanghai Service and Commercial Co., Ltd., Shanghai Renk Transmisyon Sanayi A.S., Istanbul Riviera Technic S.A.S., Mougins Ruston & Hornsby Ltd., Stockport Ruston Diesels Ltd., Stockport S.A. Trucks Ltd., Bristol Sainte Barbe Automobiles S.A.R.L., Noyelles-Godault Saint-Marcellin Automobiles S.A.R.L., Saint-Marcellin SCA Vision, Chasseneuil-du-Poitou Exchange rate (€1 =) Currency Dec. 31, 2015 GBP CNY CNY EUR ZAR IRR BRL GBP ZAR ZAR ZAR INR GBP INR EUR EUR USD CNY RON USD CHF GBP BRL EUR EUR EUR EUR SEK EUR EUR RUB RUB RUB GBP USD EUR GBP UAH USD EUR EUR EUR EUR EUR EUR EUR BAM BRL MKD EUR HKD GBP SGD EUR EUR EUR CNY USD CHF CNY RON KRW RON UAH USD CLP UAH EUR BAM ALL ALL BAM EUR EUR CHF CLP EUR EUR EUR EUR IDR ZAR ZAR GBP EUR GBP CNY TRY EUR GBP GBP GBP EUR EUR EUR 0.7339 7.0608 7.0608 16.9530 32,491.0000 4.3117 0.7339 16.9530 16.9530 16.9530 72.0215 0.7339 72.0215 1.0887 7.0608 4.5240 1.0887 1.0835 0.7339 4.3117 9.1895 80.6736 80.6736 80.6736 0.7339 1.0887 0.7339 26.1689 1.0887 1.9558 4.3117 61.5700 8.4376 0.7339 1.5417 7.0608 1.0887 1.0835 7.0608 4.5240 1,280.7800 4.5240 26.1689 1.0887 774.0600 26.1689 1.9558 137.6400 137.6400 1.9558 1.0835 774.0600 15,039.9900 16.9530 16.9530 0.7339 0.7339 7.0608 3.1765 0.7339 0.7339 0.7339 VW AG's interest in capital in % Direct Indirect - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 80.00 100.00 100.00 94.66 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 75.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 92.62 100.00 100.00 100.00 100.00 100.00 100.00 55.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 80.00 100.00 100.00 94.66 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 75.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 92.62 100.00 100.00 100.00 100.00 100.00 100.00 55.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Equity in thousands, local currency 2 8,572 -2,789 112 1,068 2,847 1,832 324 -45 6,029 1,849 -2,224 -23 15,081 95 471 7,596 229,595 7,841 58,914 476,883 0 28,851 36 -395 10,000 1,640 -55,795 1,497 650 -539 170 -2,198 -2,785 48 -2,039 7,506 524,977 39 54,003 2,056,725 8,778 117 57,478 54,611 2,489 34 5,598 273,842 3,979 66 47 40,747,822 109,648 36,222 2,801 3,261 1,857 0 1 372 - Profit/loss in thousands, local currency -16 309 -48 -9 3,099 965 -1,056 -131 5,514 -187 14 258 99,580 -439 18,749 48,986 -188 -211 -2,020 967 -16,649 -692 -190 -56 -112 -1,375 -6,754 -1,617 6 -75,023 -1 -19,418 -4,159,894 549 90 -4,379 -6,693 11 20 -105,658 390 -78 -60 4,906,795 5,691 3,875 -1,838 401 73 5 - Footnote Year 2) 5) 5) 2) 5) 17) 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2015 2015 2014 2015 2015 2015 2015 2014 2014 2014 2015 2014 2015 2014 2015 2015 2014 2014 2014 2014 2013 2015 2014 2014 2015 2015 2015 2015 2015 2015 2015 2014 2014 2015 2015 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2015 2014 2015 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 5) 5) 2) 5) 5) 5) 5) 5) 5) 7) 7) 7) 5) 5) 7) 7) 7) 5) 5) 5) 7) 5) 5) 6) 16) 6) 6) 6) 6) 7) 6) 5) 7) 6) 6) 4) 6) 5) 6) 16) 6) 6) 5) 4) 6) 6) 3) 3) 2) 5) 7) 5) 5) 5) 5) 7) 5) Name and domicile of company Scania-MAN Administration ApS, Copenhagen SCI 3A, Versailles SCI Alliance Immo 77, Versailles SCI Bollaert, Liévin SCI Croisette MSA, Versailles SCI de la Ferme Blanche, Arras SCI de la Pointe de Gonesse, Versailles SCI du 42 Avenue Aristide Briand, Les-Pavillons-sous-Bois SCI Immaubeuge MSA, Versailles SCI Immocivi, Versailles SCI Immocroix, Versailles SCI Immojardin, Versailles SCI Immolandi, Versailles SCI Immoseima, Versailles SCI Immovale Arras MSA, Versailles SCI Immovale Béthune MSA, Versailles SCI Immovale Bleu, Versailles SCI Immovale Bruay MSA, Versailles SCI Lambertbriand, Meaux SCI Reblandin, Versailles SCI Rostand-Jammes, Versailles SCI Saint Parres Troyes, Versailles SCI Zac de l'Epinette, Versailles SEAT Center Arrábida - Automóveis, Lda., Setúbal SEAT Saint-Martin S.A.S., Paris SEAT Sport S.A., Martorell Sergo Arhkon TOV, Kiev Simple Way Locações e Serviços Ltda., Curitiba Slobodna Zona Vogosca d.o.o., Vogosca SNC Grands Garages de Provence Garage Central, Les Angles SNC Stylauto 79, Niort SNC Stylauto 86, Poitiers SNC Sud Berry Auto, Argenton-sur-Creuse Société de Distribution Automobiles Chalonnaise S.A.S., Chalons-en-Champagne Société d'Exploitation du Garage Lacoste, S.A.S., Serres-Castet Société Immobilière Audi S.A.R.L., Paris Société Lallain Automobiles S.A.S., Liévin Société Star S.A.S., Troyes Solovi S.A.S., Chasseneuil-du-Poitou Sonauto Accessoires S.A., Cergy-Pontoise Soulier Automobiles S.A.S., Cergy Suzhou Aobaohang Automobile Sales and Service Co., Ltd., Suzhou Trajectoire Automobiles S.A.S., Meaux Trucknology S.A., Luxembourg VAREC Ltd., Tokyo Villemomble Automobiles S.A.S., Villemomble Villers Services Center S.A.S., Paris Volkswagen Capital Advisory Sdn. Bhd., Kuala Lumpur Volkswagen Financial Leasing (Tianjin) Co., Ltd., Tianjin Volkswagen Financial Services Holding Argentina S.R.L., Buenos Aires Volkswagen Financial Services Schweiz AG, Wallisellen Volkswagen Financial Services Singapore Ltd., Singapore Volkswagen Financial Services Taiwan Ltd., Taipei Volkswagen Finančné služby Maklérska s.r.o., Bratislava Volkswagen Group Hong Kong Ltd., Hong Kong Volkswagen Group Insurance and Risk Management Services Ltd., in Liquidation, Milton Keynes Volkswagen Group Latin America, Inc., Miami / FL Volkswagen Group Malaysia Sdn. Bhd., Kuala Lumpur Volkswagen Group Milano S.r.l., in Liquidation, Milan Volkswagen Group Pension Scheme Trustee Ltd., Milton Keynes Volkswagen Group Saudi Arabia, LLC, Riyadh Volkswagen Hong Kong Co. Ltd., Hong Kong Volkswagen Insurance Company Ltd., Dublin Volkswagen Insurance Service (Great Britain) Ltd., Milton Keynes Volkswagen Insurance Services Korea Co., Ltd., Seoul Volkswagen Insurance Services, Correduria de Seguros, S.L., El Prat de Llobregat Volkswagen International Insurance Agency Co., Ltd., Taipei Volkswagen IT Services India Pvt. Ltd., Pune Volkswagen Leasing (Beijing) Co., Ltd., Beijing Volkswagen Leasing (Dalian) Co., Ltd., Dalian Volkswagen Leasing (Nanjing) Co., Ltd., Nanjing Volkswagen Leasing (Shanghai) Co., Ltd., Shanghai Volkswagen Leasing (Suzhou) Co., Ltd., Suzhou Volkswagen Leasing (Wuxi) Co., Ltd., Wuxi Volkswagen Logistics Prestação de Serviços de Logística e Transporte Ltda., São Bernardo do Campo Volkswagen New Mobility Services Consulting (Beijing) Co., Ltd., Beijing Volkswagen New Mobility Services Investment Co., Ltd., Beijing Volkswagen Passenger Cars Malaysia Sdn. Bhd., Kuala Lumpur Volkswagen (China) R & Accessory Co., Ltd., Beijing Volkswagen Sarajevo d.o.o., Vogosca Volkswagen Service Sverige AB, Södertälje Volkswagen Servicios de Administración de Personal, S.A. de C.V., Puebla Volkswagen Servicios, S.A. de C.V., Puebla Volkswagen Serwis Ubezpieczeniowy Sp. z o.o., Warsaw VWT Participações em Outras Sociedades e Prestação de Serviços em Geral Ltda., São Bernardo do Campo Wuxi Aobaohang Automobile Sales and Service Co., Ltd., Wuxi Exchange rate (€1 =) Currency Dec. 31, 2015 DKK EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR UAH BRL BAM EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR CNY EUR EUR JPY EUR EUR MYR CNY ARS CHF SGD TWD EUR HKD Total Equity in thousands, local currency Profit/loss in thousands, local currency Footnote Year - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 99.99 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 143 275 364 957 1,381 14 174 298 -1 274 -155 927 18,265 164 469 65,540 31 324,482 -433 8,246 21,414 3,501 3,240 484,572 2,675 -10,865 22 -153 55 360 -1,914 -2 -214 2 -33 55 -205 8 287 -3 136 -11,749 56,379 101 -1,754 1,414 80 318 75,357 2,668 -8,431 35.8543 72.0215 7.0608 7.0608 7.0608 7.0608 7.0608 7.0608 - 100.00 100.00 100.00 100.00 100.00 51.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 51.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 43 -1,497 24,510 -1,482 0 78,878 4,305 35,485 1,817 3,339 18,510 14,230 9,509 9,474 2,901 9,369 9,510 -70 -171,643 -2,207 -10,739 -31,492 2,224 1,773 2,948 13,059 -15,190 -491 -526 -14,238 -631 -490 BRL CNY CNY MYR CNY BAM SEK MXN MXN PLN 4.3117 7.0608 7.0608 4.6959 7.0608 1.9558 9.1895 18.9145 18.9145 4.2639 58.00 - 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 58.00 100.00 100.00 100.00 100.00 7,932 -36,893 154,747 557 72,853 40,032 9,607 61,390 57,559 21,998 -4,043 -30,595 -28,444 -28 -37,198 -4,049 9,107 34,157 19,839 21,948 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 BRL CNY 4.3117 7.0608 - 100.00 100.00 100.00 100.00 4,801 65,771 -2,440 -9,301 2014 2014 GBP USD MYR EUR GBP SAR HKD EUR GBP KRW EUR TWD INR CNY CNY CNY CNY CNY CNY 7.4626 VW AG's interest in capital in % Direct Indirect 26.1689 4.3117 1.9558 7.0608 131.0700 4.6959 7.0608 14.1351 1.0835 1.5417 35.8543 8.4376 0.7339 1.0887 4.6959 0.7339 4.0885 8.4376 0.7339 1,280.7800 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 7) 16) 7) 4) 6) 2) 5) 2) 5) 6) 6) 4) 4) 4) 2014 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2015 2015 2014 2014 2015 2014 2015 2014 2014 2015 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2013 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2015 2014 2014 2014 2014 2014 2014 Name and domicile of company Exchange rate (€1 =) Currency Dec. 31, 2015 III. JOINT VENTURES A. Equity-accounted companies 1. Germany IAV GmbH Ingenieurgesellschaft Auto und Verkehr, Berlin Volkswagen Autoversicherung AG, Braunschweig Volkswagen Autoversicherung Holding GmbH, Braunschweig EUR EUR EUR 2. International Cummins-Scania XPI Manufacturing, LLC, Columbus / IN DFM Master S.A., Luxembourg DFM N.V., Amersfoort D'Ieteren Lease S.A., Brussels DutchLease B.V., Amersfoort FAW-Volkswagen Automotive Co., Ltd., Changchun Global Mobility Holding B.V., Amsterdam Lease+Balans B.V., Amersfoort LeasePlan Corporation N.V., Almere Stad MAN Financial Services (SA) (RF) (Pty) Ltd., Johannesburg MAN Financial Services B.V., Amersfoort Midland Beheer B.V., Amersfoort Oppland Tungbilservice A/S, Fagernes SAIC Volkswagen Automotive Co., Ltd., Shanghai SAIC-Volkswagen Sales Co., Ltd., Shanghai Shanghai Volkswagen Powertrain Co., Ltd., Shanghai The Velocity Finance Issuer Trust, Claremont Tynset Diesel A/S, Tynset VDF Faktoring A.S., Istanbul VDF Servis ve Ticaret A.S., Istanbul VDF Sigorta Aracilik Hizmetleri A.S., Istanbul Volkswagen D'Ieteren Finance S.A., Brussels Volkswagen Doğuş Finansman A.S., Istanbul Volkswagen FAW Engine (Dalian) Co., Ltd., Dalian Volkswagen FAW Platform Co., Ltd., Changchun Volkswagen Financial Services South Africa (Pty) Ltd., Sandton Volkswagen Leasing B.V., Amersfoort Volkswagen Møller Bilfinans A/S, Oslo Volkswagen Pon Financial Services B.V., Amersfoort Volkswagen Pon Financial Services Real Estate B.V., Amersfoort Volkswagen Transmission (Shanghai) Co., Ltd., Shanghai USD EUR EUR EUR EUR CNY EUR EUR EUR ZAR EUR EUR NOK CNY CNY CNY EUR NOK TRY TRY TRY EUR TRY CNY CNY ZAR EUR NOK EUR EUR CNY B. Companies accounted for at cost 1. Germany Abgaszentrum der Automobilindustrie GbR, Weissach August Horch Museum Zwickau GmbH, Zwickau AutoVision Zeitarbeit GmbH & Co. OHG, Wolfsburg Elektronische Fahrwerksysteme GmbH, Gaimersheim GIF Gewerbe- und Industriepark Bad Friedrichshall GmbH, Bad Friedrichshall Greenwheels GmbH, Berlin IGE Infrastruktur und Gewerbeimmobilien Entwicklungs GmbH & Co. KG, Ingolstadt IN-Campus GmbH, Ingolstadt LGI Logistikzentrum im Güterverkehrszentrum Ingolstadt Betreibergesellschaft mbH, Ingolstadt Objekt Audi Zentrum Berlin-Charlottenburg Verwaltungsgesellschaft mbH, Berlin Objektgesellschaft Audi Zentrum Berlin-Charlottenburg mbH & Co. KG, Berlin PDB-Partnership for Dummy Technology and Biomechanics GbR, Ingolstadt Quartett mobile GmbH, Munich VOLKSWAGEN VARTA Microbattery Forschungsgesellschaft mbH & Co. KG, Ellwangen VOLKSWAGEN VARTA Microbattery Verwaltungsgesellschaft mbH, Ellwangen Wolfsburg AG, Wolfsburg VW AG's interest in capital in % Direct Indirect Total Equity in thousands, local currency Profit/loss in thousands, local currency 50.00 - 100.00 51.00 50.00 100.00 51.00 150,336 38,217 38,888 13,455 -33,400 20.00 40.00 - 50.00 100.00 100.00 100.00 20.00 50.00 100.00 50.00 100.00 100.00 50.00 10.00 30.00 60.00 100.00 50.00 100.00 51.00 99.99 50.00 51.00 60.00 60.00 51.00 100.00 51.00 60.00 100.00 60.00 50.00 100.00 100.00 100.00 40.00 50.00 100.00 9) 50.00 100.00 100.00 50.00 50.00 30.00 60.00 100.00 50.00 100.00 51.00 99.99 50.00 51.00 60.00 60.00 51.00 100.00 51.00 60.00 100.00 60.00 108,317 31 66,312 55,250,724 3,697,262 2,842,926 54,725 4,151 43,654,443 3,742,659 4,585,879 4,353 21,238 10,714 36,090 125,513 196,177 5,823,035 919,800 1,132,702 1,296,256 236,890 1,296,822 5,487 5,206 32,870,257 348,111 371,971 7,945 1,535 27,609,990 3,317,635 1,084,193 1,283 5,714 55 13,670 3,581 56,676 2,052,940 187,648 -94,920 149,138 27,006 227,917 EUR EUR EUR EUR EUR EUR EUR EUR 12.50 - 37.50 50.00 40.00 49.00 30.00 100.00 100.00 95.10 50.00 50.00 40.00 49.00 30.00 100.00 100.00 95.10 -12 968 10,000 8,541 5,323 -1,245 19,595 - -1 38 26,038 3,427 572 -113 -133 - EUR EUR EUR EUR EUR EUR EUR EUR 20.00 50.00 50.00 50.00 50.00 40.00 49.00 50.00 50.00 - 50.00 50.00 50.00 60.00 49.00 50.00 50.00 50.00 69,185 73 4,407 41 266 5,508 33 52,595 5,845 2 382 232 -970 2 170 25.00 - 100.00 40.00 51.00 60.00 100.00 100.00 47.86 51.00 25.00 60.00 67.00 52.50 50.00 33.33 100.00 60.00 100.00 40.00 51.00 60.00 100.00 100.00 47.86 51.00 50.00 60.00 67.00 52.50 50.00 33.33 100.00 60.00 21,779 29 5,614 19 1,702,498 -151 8,247 207,397 60,897 993,253 285 493 1,241 1,913 14 1,490 1 7,809 -152 -5,846 86,799 2,161 335,871 -1 5 1,014 - 33.33 29.14 40.00 49.00 33.33 29.14 40.00 49.00 101 320,306 11,517 -13,412 6 62,636 -10,636 -10,525 - 33.00 49.00 47.50 46.50 26.00 25.00 33.33 33.00 49.00 47.50 46.50 26.00 25.00 33.33 22,590 119,216,309 71,715 10,748 21,246,379 - 1,695 15,267,205 22,250 123 594,959 - 2. International Amer Assurantien B.V., Amersfoort Central Eléctrica Anhangüera S.A., São Paulo Central Eléctrica Monjolinho Ltda., São Paulo Collect Car B.V., Rotterdam DFM Verzekeringen B.V., Amersfoort Greenwheels Shared Services B.V., Rotterdam Győr-Pér Repülötér Kft., Győr Lenkrad Invest (Pty) Ltd., Sandton Material Science Center Qatar QSTP-LLC, Doha SITECH Dongchang Automotive Seating Technology Co., Ltd., Shanghai SKO-ENERGO s.r.o., Mladá Boleslav SKO-ENERGO-FIN s.r.o., Mladá Boleslav Sturups Bilservice AB, Malmö Trio Bilservice AB, Stockholm-Arlanda VVS Assuradeuren B.V., Amersfoort VVS Verzekerings-Service N.V., Amersfoort EUR BRL BRL EUR EUR EUR HUF ZAR QAR CNY CZK CZK SEK SEK EUR EUR IV. ASSOCIATES A. Equity-accounted associates 1. Germany Autoport Emden GmbH, Emden Bertrandt AG, Ehningen Hörmann Automotive Gustavsburg GmbH, Ginsheim-Gustavsburg Rheinmetall MAN Military Vehicles GmbH, Munich EUR EUR EUR EUR 2. International BITS DATA i Södertälje AB, Södertälje JV MAN AUTO - Uzbekistan LLC, Samarkand City Laxå Specialvehicles AB, Laxå N.W.S. S.r.l., Trento ScaValencia, S.A., Ribarroja del Turia Sinotruk (Hong Kong) Ltd., Hong Kong There Holding B.V., Rijswijk SEK UZS SEK EUR EUR CNY EUR 1.0887 7.0608 16.9530 9.6030 7.0608 7.0608 7.0608 9.6030 3.1765 3.1765 3.1765 3.1765 7.0608 7.0608 16.9530 9.6030 7.0608 4.3117 4.3117 315.9800 16.9530 3.9658 7.0608 27.0230 27.0230 9.1895 9.1895 9.1895 2,998.3000 9.1895 7.0608 Footnote Year 1) 2015 2014 2014 12) 18) 11) 11) 12) 12) 11) 12) 12) 11) 11) 15) 16) 14) 11) 12) 10) 11) 19) 6) 20) 11) 14) 11) 4) 11) 10) 3) 15) 7) 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2015 2015 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2015 2014 2014 2014 2014 2014 2015 2014 2014 2015 Name and domicile of company Exchange rate (€1 =) Currency Dec. 31, 2015 Total 25.00 26.00 25.40 25.10 49.00 27.45 23.70 8.33 19.94 30.81 20.00 - 25.10 25.00 49.00 27.45 49.70 8.33 19.94 30.81 20.00 25.40 5,460 11,583 53 -3,713 411,500 5,044 3,005 407 124 50.00 - 25.10 20.10 7.70 33.33 34.01 24.90 40.00 25.00 20.00 24.90 50.00 31.76 25.10 20.10 7.70 33.33 34.01 24.90 40.00 25.00 20.00 24.90 50.00 50.00 31.76 EUR EUR EUR - 30.00 30.00 15.30 EUR EUR EUR EUR EUR EUR EUR EUR EUR 10.00 9.88 - - B. Associates accounted for at cost 1. Germany Capricorn Composite GmbH, Düsseldorf Deutsche Cyber-Sicherheitsorganisation DCSO GmbH, Berlin e.solutions GmbH, Ingolstadt Fahr- und Sicherheitstraining FuS GmbH, Ingolstadt Fahrzeugteile Service-Zentrum Mellendorf GmbH, Wedemark FC Bayern München AG, Munich FC Ingolstadt 04 Fussball GmbH, Ingolstadt GVZ Entwicklungsgesellschaft Wolfsburg mbH, Wolfsburg MOST Cooperation GbR, Karlsruhe Theater der Stadt Wolfsburg GmbH, Wolfsburg EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR 2. International African Automotive Trading Ltd., Port Louis Cubic Telecom Ltd., Dublin Drive.AI, Inc., Santa Clara / CA Frontignan Entretien Réparation et Vente Automobile S.A.R.L., Frontignan Guyonnet-Duperat Automobile (GDA) S.A.R.L., Ruffec Liberté Automobile Holding S.A.R.L., Artiguelouve Model Master S.r.l., in Liquidation, Moncalieri Servicios Especiales de Ventas Automotrices, S.A. de C.V., Mexico City Silvercar, Inc., Austin / TX Smart Material Corp., Sarasota / FL Société en Participation Brume, Poitiers TAS Tvornica Automobila Sarajevo d.o.o., in Liquidation, Vogosca TTTech Computertechnik AG, Vienna MUR EUR USD EUR EUR EUR EUR MXN USD USD EUR BAM EUR V. OTHER EQUITY INVESTMENTS 1. Germany Coburger Nutzfahrzeuge Service GmbH, in Liquidation, Dörfles-Esbach FFK Fahrzeugservice Förtsch GmbH Kronach, Kronach GKH - Gemeinschaftskraftwerk Hannover GmbH, Hanover Grundstücksverwaltungsgesellschaft EURO-Leasing GmbH, Matthias Hinners und Helge Richter GbR, Sittensen MTC Marine Training Center Hamburg GmbH, Hamburg Niedersächsische Gesellschaft zur Endablagerung von Sonderabfall mbH, Hanover Pakt Zukunft Heilbronn-Franken gGmbH, Heilbronn PosernConnect GmbH, Sittensen Roland Holding GmbH, Munich SGL Carbon SE, Wiesbaden Verwaltungsgesellschaft Wasseralfingen mbH, Aalen Volkswagen AG Preussen Elektra AG OHG, Wolfsburg 2. International H.R. Owen Plc., London Renk U.A.E. LLC, Abu Dhabi GBP AED 39.1000 1.0887 18.9145 1.0887 1.0887 1.9558 0.7339 4.0003 1. Abgaszentrum der Automobilindustrie GbR, Weissach 2. PDB-Partnership for Dummy Technology and Biomechanics GbR, Ingolstadt 3. Volkswagen AG Preussen Elektra AG OHG, Wolfsburg 4. Volkswagen Konzernlogistik GmbH & Co. OHG, Wolfsburg Profit/loss in thousands, local currency Footnote Year -102 4,449 735 -2,080 15,100 1,187 325 2 - 7) 6) 2014 2015 2014 2014 2014 2015 2015 2014 2015 2014 80 433 243 -12,500 72,249 1,050 -23 -22,441 34,216 3 1 1 -1,506 4,520 -288 -23 -43 3,461 7) 7) 7) 30.00 30.00 15.30 1,301 10,226 97 - 50.00 24.83 20.00 49.00 22.83 50.00 - 50.00 24.83 10.00 20.00 49.00 22.83 9.88 50.00 - 64 840 10,261 435 450 3,893 942,818 14,567 -1,244 38 66 1,609 -190 231 -286,884 -184 292 27.91 49.00 27.91 49.00 19,187 21,690 1) Profit and loss transfer agreement 2) In liquidation 3) Different fiscal year 4) Short fiscal year 5) Currently not trading 6) Newly established company 7) Newly acquired company 8) Commenced operations in 2015 9) Global Mobility Holding B.V., Amsterdam holds a 100% interest in LeasePlan Corporation N.V., Amsterdam 10) Consolidated financial statements 11) Figures are contained in the consolidated financial statements of the parent company 12) Figures in accordance with IFRSs 13) Profit and loss transfer agreement as from 2015 14) Merger 15) Newly acquired company/newly established company in the previous year 16) Structured entity in accordance with IFRS 10 and IFRS 12 17) Liquidation resolution adopted 18) Structured entity included in Volkswagen Pon Financial Services B.V.’s consolidated financial statements in accordance with IFRS 10 and IFRS 12 19) Joint Operation in accordance with IFRS 11 VOLKSWAGEN AG is the general partner of the following companies: Equity in thousands, local currency VW AG's interest in capital in % Direct Indirect 3) 3) 3) 2) 7) 2) 5) 2) 5) 1) 4,294 3) 10) 12) 6,849 2015 2015 2015 2014 2014 2014 2014 2014 2015 2014 2014 2012 2014 2014 2014 2014 2014 2014 2014 2014 2014 2013 2014 2014 2014 2015 2014 Published by: Volkswagen Aktiengesellschaft Financial Publications Letterbox 1848/2 38436 Wolfsburg Germany Phone +49 5361 9-0 Fax +49 5361 9-28282 ISSN 658.809.564.20
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