VOLKSWAGEN AG Volkswagen EOS Analyst / Investor Testdrive. Attica, Greece May 12, 2006

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1 VOLKSWAGEN AG Volkswagen EOS Analyst / Investor Testdrive Attica, Greece May 12,

2 Highlights CSC-Roof System* - Five piece folding steel roof (RHT = retractable hard top) - Fully automatic, innovative roof system with a glass look with integrated sliding sun roof and heated rear window - Electro-hydraulic roof mechanism - Compact folded volume and generous trunk volume (Closed roof: 380 l, open roof: 205 l) - The shorter A-pillar make climbing in and out easier. Authentic convertible atmosphere. * The CSC-Roof system combines the features of a convertible/cabriolet with sun roof. (Coupé, Sliding and roof) Highlights 2

generous trunk volume (Closed roof: 380 l, open roof: 205 l) - The shorter A-pillar make climbing in and out easier.

3 Highlights Rear light with LED*-Technology (Standard) - Side, brake and indicator lights with LED-technology - Faster response times compared to light bulbs - Better visibility, better homogeneity, brighter optics - Longer lifetime * LED = Light-Emitting-Diode Highlights 3

compared to light bulbs - Better visibility, better homogeneity,

4 Highlights Dynamic cornering lights optional - optimal road illumination (swiveling lights follow the path of the road curves) 1 Bi-Xenon-swiveling system 2 Automatically activated turn-off lights 2 1 Highlights 4

the path of the road curves) 1 Bi-Xenon-swiveling

5 Highlights Dynaudio Sound System optional - 10-Channel Sound System with 600 W output for the highest listening pleasure - Extra 10-channel digital amplifier Highlights 5

6 Competition Package comparison A/B Wheelbase [mm] 3,000 2,900 2,800 2,700 2,600 2,500 2,400 2,300 2,200 A0-Cabrio Segment Peugeot 206 CC VW NBC VW Golf A-/B- Coupé Segment BMW 3 Series Compact Opel Astra Peugeot 307 CC MB C Sportcoupé Renault Mégane CC BMW 3 Series 3,700 3,900 4,100 4,300 4,500 4,700 Car length [mm] VW EOS A-Cabrio Segment B-Cabrio Segment MB CLK Audi A4 Saab 9-3 Daten 6

Opel Astra Peugeot 307 CC MB C Sportcoupé Renault Mégane CC BMW 3 Series 3,700 3,900 4,100 4,300

7 Engine range Engines Gearbox drive 1.6 l 85 kw ( 115 PS ) FSI manual 6 Front Gasoline 2.0 l 110 kw ( 150 PS ) FSI 2.0 l 147 kw ( 200 PS ) FSI Turbo manual 6 manual 6 / DSG Front Front 3.2 l 184 kw ( 250 PS ) SRE DSG Front Diesel 2.0 l 103 kw ( 140 PS ) TDI DPF manual 6 / DSG Front Daten 7

8 Positioning History of Volkswagen s 1949 Beetle 1979 Golf I 1993 Golf III 1998 Golf IV 2003 New Beetle Functionality Comfort Security Lifestyle First every day use Cabrio Use of benefits from mass production and typical compact car advantages Transfer of typical Golf Security into the cabrio Segment Renewal and adaptation to the standards of the Golf IV Openness Personality Emotion 2005 Volkswagen EOS Emotional Product characteristics of a paired with the sportyness and the elegance of a coupe. Innovative everyday and all year usability via the integration of different body styles. Markt 8

Segment Renewal and adaptation to the standards of the Golf IV Openness Personality Emotion 2005 Volkswagen EOS Emotional Product characteristics of

9 Positioning Rational Statement Product Statement The innovative and dynamic with Coupé characteristics Product Identity - optimal combination of uncomplicated cabriolet enjoyment with the innovative and dynamic appearance of an open mid sized Coupé. - The Volkswagen stands for the innovative and perfect combination of driving pleasure, elegance und functionality Product Characteristics - innovative: perfect Cabrio-Coupé Synthesis - emotional: open and dynamic driving pleasure sporty elegance - substantial: complete day-to-day usability all encompassing security superior comfort excellent quality Markt 9

- The Volkswagen stands for the innovative and perfect combination of driving pleasure, elegance und functionality Product Characteristics - innovative:

10 EOS Volume Highest Volume Markets Germany USA United Kingdom France Italy Markt 10

11 Market and Segment s by Segment (Western Europe ) 325, , ,000 total 250, ,000 Registrations WEU 200, , , , ,000 75,000 50,000 Market introduction Peugeot 206 CC: 01/2001 Market introduction Peugeot 307 CC: 10/2003 Renault Mégane: 10/2003 A-Cabrios A00-/A0-Cabrios B-Cabrios 25, Markt 11

introduction Peugeot 206 CC: 01/2001 Market introduction Peugeot 307 CC: 10/2003 Renault

12 Competitive Environment BMW 3 Series Cabrio Volvo C70 NF (neu 2006) Audi A4 Cabrio New Beetle Ford Focus (new 2006) Peugeot 307 CC Opel Astra TwinTop (neu 2006) MB CLK Cabrio Peugeot 206 CC Renault Mégane cc Opel Tigra TwinTop Markt 12

Peugeot 307 CC Opel Astra TwinTop (neu 2006) MB CLK Cabrio

13 Volkswagen EOS Ramp-Up - Launch during continuing Sharan production. - Separate Cabrio line was integrated in the Sharan plant by VW Autoeuropa in Portugal. - The roof is produced in the supplier park in the immediate area of VW Autoeuropa and delivered Just-in-time. - Completed vehicles are transferred by ship from Setúbal to Emden for distribution across Europe. Stand: Produktion 13

- The roof is produced in the supplier park in the immediate area of VW Autoeuropa and delivered

14 VOLKSWAGEN AG Volkswagen EOS Analyst / Investor Testdrive Attica, Greece May 12,

VOLKSWAGEN AG. Mr. Oliver Larkin Senior Investor Relations Manager. Lisbon / Madrid May 30 / 31, 2006. Agenda. Q1 2006 Results.

VOLKSWAGEN AG. Mr. Oliver Larkin Senior Investor Relations Manager. Lisbon / Madrid May 30 / 31, 2006. Agenda. Q1 2006 Results. VOLKSWAGEN AG BBVA Iberian Roadshow Mr. Oliver Larkin Senior Investor Relations Manager Lisbon / Madrid May 30 / 31, 2006 1 Agenda Q1 2006 Results Targets 2008 Eos 2 January March 2006 Overview Group operating