Taking the lead via Vorsprung durch Technik

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1 Investor Visit to AUDI AG, Ingolstadt, 23 rd November 2010 Taking the lead via Vorsprung durch Technik Axel Strotbek CFO, Member of the Board, AUDI AG

2 Disclaimer United States Legend These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States, Germany or any other jurisdiction. The shares (the Shares ) of Porsche Automobil Holding SE (the Company ) may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of Shares in the Company in the United States. Diese Mitteilung stellt weder ein Angebot zum Kauf von Wertpapieren noch die Aufforderung zur Abgabe eines Angebots zum Kauf von Wertpapieren in den Vereinigten Staaten von Amerika, Deutschland oder sonstigen Staaten dar. Die Aktien (die Aktien ) der Porsche Automobil Holding SE (die Gesellschaft ) dürfen in den Vereinigten Staaten von Amerika nur nach vorheriger Registrierung oder ohne vorherige Registrierung nur aufgrund einer Ausnahmeregelung von dem Registrierungserfordernis nach den Vorschriften des U.S. Securities Act von 1933 in der derzeit gültigen Fassung verkauft oder zum Kauf angeboten werden. Die Gesellschaft beabsichtigt nicht, das Angebot von Aktien vollständig oder teilweise in den Vereinigten Staaten zu registrieren oder ein öffentliches Aktienangebot in den Vereinigten Staaten durchzuführen. German Legends Diese Veröffentlichung stellt weder ein Angebot zum Verkauf noch eine Aufforderung zum Kauf irgendwelcher Wertpapiere dar. Ein etwaiges künftiges Angebot im Hinblick auf Aktien der Porsche Automobil Holding SE würde ausschließlich durch und auf Basis eines zu veröffentlichenden Prospektes erfolgen. Dieser Prospekt würde bei der Porsche Automobil Holding SE, Porscheplatz 1, Stuttgart, sowie auf der Webseite der Porsche Automobil Holding SE unter kostenfrei erhältlich sein. This publication constitutes neither an offer to sell nor a solicitation to buy securities. A possible offer with regard to securities of Porsche Automobil Holding SE would be made solely by means of, and on the basis of, a securities prospectus to be published. Such securities prospectus would be available free of charge from Porsche Automobil Holding SE, Porscheplatz 1, Stuttgart, as well as on the Porsche Automobil Holding SE website under

3 Audi deliveries growing much faster than major car markets [Audi deliveries by region, 1-10/2010] Western Europe +3.7% Eastern Europe +13.1% North America +22.3% Overall market +10.0% Overall market -4.9% Overall market +6.3% Asia-Pacific +49.3% South America +63.6% Overall market +9.6% Africa/Middle East +38.2% Overall market +10.0% Overall market +26.5% Worldwide +16.4% Overall market +11.2%

4 Audi Group posts new record profit in the first 3 quarters of Jan.-Sep Jan.-Sep. Change Revenue [EUR million] 21,689 25, % Operating profit [EUR million] 1,172 2, % Operating margin [Percent]

5 Numerous market launches in 2010 A1 S5 Sportback A8 RS 5 Coupe R8 V8 Spyder A7 Sportback January February March April May June July August September October November December R8 Spyder A3 TT A8 L A8 L W12

6 The art of progess the new Audi A8

7 Audi A8 Superior efficiency Fuel efficiency increased by up to 22% Audi A8 3.0 TDI: 6.0 liters of diesel/100 kilometers (39.20 US mpg) 159 grams of CO 2 /kilometer ( g/mile) New-generation Audi Space Frame: 40% lighter than steel body Extended modular efficiency platform

8 The next big Audi the all new Audi A1

9 A new class the all new Audi A7 Sportback

10 High flexibility thanks to production turntable Brussels Ingolstadt Neckarsulm Győr

11 Optimal use of synergies through modular longitudinal and transverse platforms Previously Introduction of modular platform strategy Body Platform Module D C B A A0 A00 Synergies E D C B A A0 A00 Synergies Body Vehicle specific Platform Modules 100% vehicle

12 Audi Group achieves major productivity advances [Employees Audi Group (average, in thousand) vs. Audi deliveries (in thousand vehicles)] ,

13 The automotive industry faces huge challenges Politics Markets Technology Climate Changing conditions for the automotive industry Resources Mega-Cities Values

14 The Audi roadmap of sustainable mobility Optimized combustion engines and alternative fuels Lightweight / Reversal of the weight spiral Hybrid Electric vehicles

15 Efficiency today 53 Audi model variants with emissions of less than 140 grams CO 2 /kilometer ( g/mile) 19 Audi model variants with emissions of less than 120 grams CO 2 /kilometer ( g/mile)

16 and tomorrow Audi Q5 hybrid Audi A8 hybrid

17 The Audi way to an electrical future e-performance project house Concentrates expertise across divisions Core team of 30 staff New development and testing center for electric drive systems Consolidation of experts Around 840 employees e-performance research project With scientists and industrial partners Applied research

18 The Audi e-tron family

19 Audi on its way to a new record in deliveries [in thousand vehicles] 1,080 1, /2010 FC 2010

20 Strategy 2020 Audi: the number one premium brand Vision Audi: the number one premium brand via expertise, passion and agility. Mission We via the best brand experience. delight customers worldwide via innovative and emotional products. Goals Continuous growth Image leader Superior financial strength Most attractive employer

21 Strategy 2020 Audi: the number one premium brand 6.Potential upside Product portfolio extension North American expansion and market recovery 5.Synergy potential Leveraging best practices within the Group Purchasing, production and distribution benefits 1.Growth market focus Increased market penetration Emerging markets expansion Balanced global footprint Most attractive employer Image leader Continuous growth 2. Modular platform strategy Reduction in investment, development and unit costs Scale and efficiency effects Increased production flexibility Reduced time to market Superior 3. Capital discipline financial strength >18% RoI target >8% profit before tax margin 4.Operating profit measures Around 6% capex in PPE/sales Strong cost control Process / product optimization Regional scale effects

22 Axel Strotbek CFO, Member of the Board, AUDI AG

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