Rupert Stadler Chairman of the Board of Management, AUDI AG. Speech to the 123rd Annual General Meeting of AUDI AG Ingolstadt, May 10, 2012.

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1 Rupert Stadler Chairman of the Board of Management, AUDI AG Speech to the 123rd Annual General Meeting of AUDI AG Ingolstadt, May 10, 2012 Part 1 Note: Check against delivery Ladies and Gentlemen, On behalf of the Audi Board of Management team, I am pleased to welcome you to the Annual General Meeting of AUDI AG. In 2011, our industry celebrated a momentous occasion: the 125th anniversary of the automobile. And 2011 was also a historic year for Audi it was yet again the most successful year in our company's history. With the exception of 2009, we have now been able to make that boast for 15 consecutive years. In 2011, Audi celebrated a sensational run of product launches: We presented 12 new models over the course of the year from a compact SUV to a full-size luxury sedan. What do these models have in common? They are all stand-out vehicles in their segments. In Fall 2011, we expanded our successful family of SUVs with the Audi Q3. It is produced in the Spanish city of Martorell. The Q3 is a true all-round talent both reliable and versatile. And according to a reader survey by Germany s auto club, ADAC, it is "Germany's favorite car." Participants in the Audi Q3 Trans China Tour were in full agreement with this assessment. They were part of a discovery tour last fall that covered 5,700 kilometers through eight Chinese

2 123rd Annual General Meeting of AUDI AG, May 10, 2012 Page 2 provinces, where they coped with: the heavy traffic of China s bewildering megacities and off-road routes far off the beaten and paved path. While our newest SUV is already gaining a place in customers' hearts, the Audi A6 model family can look back on a long and successful track record. With the launch of the seventh generation, we were writing a new chapter in the A6 success story. Yet again we have made the latest generation much lighter than its predecessor by up to 80 kilograms which gives it a distinctive edge over the competition. Our new S models celebrated their debut at the International Auto Show (the IAA) in Frankfurt last year. They offer all that a driver's heart desires and are up to 25 percent more fuel efficient. This is made possible by our innovative cylinder deactivation system. This technology, which gives us a definite competitive edge, allows the specific deactivation of four cylinders in the V8 engine at low to medium workloads. Far from being mere technical gadgetry, this takes us to the leading edge of advanced power train engineering an outstanding example of Vorsprung durch Technik. We will continue in the future to make the optimization of our gas and diesel engines a vital part of our ongoing efforts to reduce CO 2 emissions. And we are doing so if only due to the sheer volume: Cars with conventional combustion engines accounted for more than 99 percent of new car registrations in Germany in Germany s Federal Environment Minister, Dr. Norbert Röttgen, rightly remarked in his comments on a recent electric mobility study carried out by his ministry: Simply shifting the source of CO 2 emissions from the exhaust pipe to the power station is nothing but window dressing." Here at Audi, we are also convinced that electric vehicles can only make a real difference in cutting CO 2 emissions in conjunction with renewable energy sources and not just at the local level. We therefore need to do both: take steps to shape the future and, at the same time, work to improve the situation here and now. We are confident that in the

3 123rd Annual General Meeting of AUDI AG, May 10, 2012 Page 3 next decade alone, we will be able to engineer conventional combustion engines whether diesel or gasoline to be up to 15 percent more fuel efficient. At present, the Audi product portfolio includes 110 different engine and drive train combinations that generate less than 140 grams of CO 2 per kilometer a performance unmatched by any other premium carmaker. We offer a further 33 engine and drive train combinations that achieve levels below 120 grams of CO 2 per kilometer. Vorsprung durch Technik: The many awards and accolades received by Audi over the past year show that our customers are believers: the Golden Steering Wheel won by the Audi A6; the Autonis design award won by the Audi RS3 Sportback; the Car of the Year Award for the Audi A1 and the Audi TT Coupé; the Auto Trophy for the Audi A1, the Audi Q3 and the Audi A5 Sportback. These are just a few examples of the numerous awards we received last year. And 2011 was also an extremely successful year for us in the area of motor racing: You might recall: our overall victory at the DTM and our 10th first-place finish at Le Mans the most famous endurance race in the world. And all of these honors and trophies have boosted our resolve to compete for top placings and racing success again this year. Ladies and Gentlemen, Let us now turn our attention from our overflowing trophy case to our sparkling financial results for the 2011 fiscal year: We increased our sales revenues to 44.1 billion Euro an increase of 24.4 percent over One very important point: The share of our sales revenues in the C and D segments, in other words the premium class / mid and full-size luxury segments, has shown a marked increase from 25 to almost 40 percent over the past three years. Our Chief Financial Officer, Axel Strotbek, will be providing details on this point shortly. We also set a new record with our operating profit in At 5.3 billion Euro, it exceeded the 2010 figure by more than 60 percent. Our operating profit

4 123rd Annual General Meeting of AUDI AG, May 10, 2012 Page 4 margin increased to 12.1 percent another new record. Mr. Strotbek will also be telling you more about our key financial ratios. But first a few remarks about Audi s sales in 2011: With 1.3 million cars delivered to customers, we not only exceeded the previous year's record for the Audi brand. Equally remarkable is the speed of our growth in Never before has Audi achieved a single-year increase of 210,000 vehicles. That represents a gain of 19.2 percent. Audi s strong growth in 2011 took us a major step closer to reaching our goal of delivering 1.5 million cars in Based on the way things look right now, we could surpass that target even sooner. What makes me so optimistic? We achieved faster growth than the overall car market in every global region. In 2011, that was especially true for Asia, with 35.3-percent growth, as well as South America, with an increase of 42.7 percent. In most other regions, in fact, the growth rates were comfortably within the double-digit range. In 2011, we set new sales records in more than 50 markets and achieved gains in all Top-10 markets, even in such difficult markets at present as Italy and Spain. In fact, I can report that, in every Top-10 market, we posted double-digit increases. At this point I would like to give special mention to three success stories: First: China moved into the top spot in our rankings for the first time with the delivery of 313,036 units to customers: a 37.3-percent increase over the previous year. This phenomenal growth has widened the gap between Audi and its closest competitors in this important growth market. Second: In Germany, Audi sales returned to their pre-crisis level of over 250,000 vehicles for the first time since the crisis in Third: In the USA, Audi increased its sales by 15.7 percent to 117,561 units. What s more in every single month of 2011, we set a new sales record in the US market.

5 123rd Annual General Meeting of AUDI AG, May 10, 2012 Page 5 Last year was a successful one for the Audi brand, and also for our Lamborghini subsidiary. In 2011, the Italian luxury carmaker delivered 1,602 highperformance sports cars to customers 23 percent more than in The surge in sales resulted above all from the market launch of the Lamborghini Aventador. Overall, in 2011 the Audi Group saw a 16.9-percent increase in the number of units delivered to customers, to 1,512,014. A trend mirrored inside the company as well. At the end of 2011, there were 63,839 people working in the Audi Group around 3,500 more employees than in That represents an increase of 5.7 percent. Our employees are the key to our success. With their passion and commitment, they create pioneering products that get people moving. Day in, day out, my Board of Management colleagues and I, and above all our customers, gain a fresh appreciation for these achievements. Consequently, I wish to express my thanks to all Audi employees at all of our locations! Our employees richly deserve their Audi profit share. This year, it amounts to approximately two monthly salary payments. On average, that means around 8,251 Euro per employee. That is the highest profit share payment in the history of AUDI AG. For Audi employees at our Brussels and Győr locations, we have a similar profit-share system in place based on the pay scales at each location. In both places, the profit-share payment to each employee will also amount to around twice their monthly salaries. After all, it's only reasonable that top performers should benefit from their efforts. Let me mention a few more examples of outstanding performance: in 2011, we built a total of 1,365,499 new automobiles at eight production sites around the world. If you compare that to our output in 2000, you will see that we have doubled our production since that time. But there is more. Our engine production is also impressive. At the Győr facility, we produced 1.9 million engines last year to reach a major milestone: more than 20 million engines over the past 18 years of our business operations in Hungary.

6 123rd Annual General Meeting of AUDI AG, May 10, 2012 Page 6 And speaking of engines: The Audi Q5 hybrid quattro has become the first model in our hybrid fleet to go into series production. This marks the first big step towards large-scale production in the electric mobility segment. The Audi Q5 hybrid quattro is, of course, just a foretaste of an innovative hybrid fleet. We have already launched the second model with the hybrid version of the A6. The A8 hybrid will follow in the next few weeks. This makes us the first premium carmaker to offer full-hybrid models with superior lithium-ion technology in the B, C and D segments. Ladies and Gentlemen, It is fantastic how matter-of-factly we can now talk about the prestige of Audi. In every important area, we are either in the pole position or very close to it. In the last five years, we have accomplished the following: we brought more than 10,000 new employees on board at Audi; we manufactured a total of 5.5 million new cars; we increased the number of deliveries by 44 percent; we have moved into the number-two position among premium car makers; we increased our operating profit from two billion to 5.3 billion Euro a 165-percent increase. We have stayed on track with our impressive product offensive, expanding our product range from 22 to 37 models since And we have solidified our technological leadership in design and lightweight construction, as well as quality and efficiency. Audi is premium. We have turned this expectation of ourselves into a firm conviction the image of our brand. End

Audi Communications. Prof. Rupert Stadler. Speech. Annual General Meeting. May 22, 2014 AUDI AG, Ingolstadt

Audi Communications. Prof. Rupert Stadler. Speech. Annual General Meeting. May 22, 2014 AUDI AG, Ingolstadt Prof. Rupert Stadler Speech Annual General Meeting May 22, 2014 AUDI AG, Ingolstadt Speech at the Annual General Meeting AUDI AG 2014 Prof. Rupert Stadler Chairman of the Board of Management of AUDI AG