Audi Group Key Figures

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Audi Group Key Figures 1 6/2005 1 6/2004 Change in % Production Cars 413,574 401,632 3.0 Engines 840,483 780,354 7.7 Vehicle sales Cars 528,984 496,769 6.5 Audi 421,967 389,913 8.2 Germany 126,093 114,169 10.4 Outside Germany 295,874 275,744 7.3 Lamborghini 655 922 29.0 Other Volkswagen Group brands 106,362 105,934 0.4 Employees Average 52,224 53,021 1.5 Revenue EUR million 13,226 12,328 7.3 Profit from operating activities EUR million 658 586 12.3 Profit before tax EUR million 510 502 1.6 Profit after tax EUR million 300 336 10.7 Rate of return before tax Percent 3.9 4.1 Capital investments EUR million 784 972 19.3 Development expenditure recognised as an intangible asset 361 307 17.6 Depreciation and amortisation EUR million 984 993 0.9 Cash flow from operating activities EUR million 2,071 1,126 83.9 June 30, 2005 Dec. 31, 2004 Change in % Balance sheet total EUR million 16,044 14,806 8.4 Equity ratio Percent 40.2 40.4

Foreword by the Board of Management The first half of 2005 came up to our expectations in every respect: specifically in our home market Germany, which is gradually recovering from a five-year period of weakness, Audi registered growth of more than ten percent. Our market share in Western Europe is at an all-time high. And our sales growth worldwide as at the end of June reached 8.2 percent or, to put it another way, Audi has just completed yet another record-breaking first half. This market success is a ringing endorsement of our product strategy: Audi s new, attractive, customer-centred products mean that it is ideally placed to withstand the tough competitive environment. The systematic renewal of our core car lines, from the Audi A3 to the Audi A8, is now bearing fruit. We are nevertheless not content to rest on our laurels. Our next strategic objective is to sell around one million vehicles with the four-ring badge in 2008. To achieve this goal, we will need to serve our existing markets even more effectively; we will furthermore actively tap into new growth markets and will of course be adding to our range of models. For example with the first thoroughbred Audi sports car, based on the fascinating Audi Le Mans quattro study and to be built at our Neckarsulm plant. Or with the latest-generation SUV, the Audi Q7, which will appeal in particular to customers in the USA. Whoever chooses an Audi knows that they are driving a sophisticated, sporty and above all progressive vehicle. We demonstrate our core values in every one of our cars, but always with an individual weighting. On the new RS 4, for example, the emphasis is squarely on sportiness and progressiveness its 420 bhp engine is the first high-revving FSI power unit to appear on the market. The new A6 Avant is notable for its emotionally charged design and the innovations in its interior. And our A8 with the new 4.2-litre TDI engine is quite simply the most powerful and sporty diesel saloon in the world, without neglecting the aspect of comfort, either. Technical innovations have helped Audi carve out a very strong market position. This will always remain the case. Whoever aims to supply innovative products on an international scale must nevertheless go one step further. We have already accomplished many of these important steps. For example in the form of our highly networked electronics development activities. Or through the company agreement Audi s Future, which we signed in April. This agreement guarantees that Audi s development and production activities in Germany will remain competitive in the future. In signing up to this agreement we have extended Audi s typical progress the Vorsprung of our slogan to apply not simply to our products, but to the entire company. Kind regards, Prof. Dr. rer. nat. Martin Winterkorn 2 3

Economic situation General economy Following the vigorous growth of 2004, the global economy lost some of its momentum in the first half of 2005. The inhibiting factors included the sharp rise in the price of oil and raw materials, and also the less expansionist economic policies adopted by major national economies. The USA and Asian countries remained the centres of growth. In the USA, economic growth during the period under review remained high, even if growth lost some of its pace. Robust private consumption proved to be one of the mainstays of the economy. In China, rapid economic expansion was diminished only slightly by the measures implemented by the state to cool down the economy. China thus remained the driving force behind growth in the Asia region. Japan s economic buoyancy became more marked. The economy in Western Europe made only faltering progress. In the eurozone, economic growth was hampered above all by the strong euro and slack internal demand. The economic upswing in Central and Eastern European countries continued. In Germany, there were contrasting economic developments in the first half of 2005. On the one hand rising exports provided a slight boost to the economy at the start of the year. On the other hand, persistently weak private consumption and the high level of unemployment served as a clear indication that no lasting improvement in the economy had yet materialised. The car market Worldwide registrations of new cars in the first half of 2005 showed an increase on the prioryear period despite high oil prices. High rates of growth in the South America and Asia/Pacific regions contrasted with a slight downturn in demand in Western Europe. In the USA, market developments continued to be dictated by the aggressive sales promotion measures above all of domestic manufacturers. These incentives prompted an exceptionally high growth in sales in the month of June, producing a positive picture mid-way through the year. In all, some 1.9 percent more vehicles, or almost 8.6 million units, were sold in the world s largest car market compared with the prior-year period. Following a period of stagnation at the start of the year, the Chinese car market regained its positive course mid-way through 2005. As at the end of June, cumulative car sales were 11.6 percent up on the corresponding prior-year period. In Japan, registrations of new cars rose by 2.6 percent to more than 2.5 million vehicles. The car market in Western Europe in the period under review was 0.3 percent down on the prioryear figure, with around 7.8 million new vehicles sold. This development was prompted first and foremost by the major car markets Great Britain and Italy, which both experienced a marked downturn of 5.8 and 5.3 percent respectively. In Spain, the high rate of growth slowed down to an increase of 2.6 percent on the prior-year period. After several recessive years, the French car market experienced a clear upward trend with growth reaching 5.6 percent. Following a very weak start to the year, the German car market made a palpable recovery in the second quarter of 2005. In all, just under 1.7 million cars were registered as new in Germany in the first half of 2005. This represents an increase of 2.5 percent on the prior-year period. 76994352754 857699435275 85769943527 463857699435 63857699435 275463857699 54638576994 435275463857

Situation of the company Vehicle sales on target for new record With a total of 421,967 Audi vehicles sold worldwide, the Audi Group achieved a new sales record in the first half of 2005. The record-breaking figure of the same period in the previous year was thus bettered by 8.2 percent. Despite only a slow recovery in the market as a whole, Audi vehicle sales in Germany in the first six months of the year were boosted by 10.4 percent compared with the prior-year period. Audi s market share in its home market climbed accordingly to 7.5 percent. In all, 12.4 percent more Audi vehicles were sold in Western Europe than in the equivalent period of the previous year. Within sales of other Volkswagen Group brands, the subsidiary AUTOGERMA S.p.A. in the Italian market posted a slight increase and thus reversed the downturn of recent years. All in all, Audi was once again able to demonstrate that it is capable of generating growth thanks to its attractive product range and consistent brand strategy, in spite of the adverse market climate over a protracted period. Vehicle sales by market 1 6/2005 1 6/2004 Audi cars 421,967 389,913 Germany 126,093 114,169 Great Britain 45,107 41,805 USA 37,701 37,970 Spain (incl. Canary Islands) 28,674 23,742 Italy 27,534 26,688 France 22,571 18,451 China (incl. Hong Kong) 19,996 29,027 Belgium 15,430 12,308 Austria 9,754 7,611 Netherlands 8,984 7,622 Japan 7,534 6,251 Switzerland 6,614 7,420 Sweden 6,538 5,746 South Africa 5,814 4,923 Portugal 3,843 3,351 Other 49,780 42,829 There was also a marked rise in Audi sales in other major Western European markets, even though the market as a whole throughout this region shrank. The sales figures in Great Britain, now Audi s most important export market, were particularly healthy. Flying in the face of the downturn in the British car market, Audi increased its vehicle sales by 7.9 percent. Further significant national markets included Spain (+ 20.8 percent), Italy (+ 3.2 percent) and France (+ 22.3 percent). Vehicle sales by model 1 6/2005 1 6/2004 Audi cars 421,967 389,913 Audi A2 11,044 12,397 Audi A3 109,225 84,680 Audi TT 9,764 14,686 Audi A4 171,424 163,344 Audi A4 Cabriolet 14,737 18,236 Audi A6 / RS 6 90,137 77,200 Audi allroad quattro 5,033 8,202 Audi A8 10,603 11,168 Lamborghini cars 655 922 Other Volkswagen Group brands 106,362 105,934 Total for Audi Group 528,984 496,769 Success across the board for new face of the Audi brand Following the successful market launch of the Audi A3 Sportback in September 2004, the threedoor Audi A3 is now likewise available with the characteristic single-frame grille. This now even more attractive premium compact car has been on the market since June 2005. As part of the roll-out of the sporty brand strategy, the new Audi RS 4, which is making its debut in the second half of the year, will become the first model to feature the high-revving FSI engine principle. 8576994352754638576994352754 5769943527546385769943527546 7699435275463857699435275463 6994352754638576994352754638 4 5

The Audi A6 family welcomed a new member this year: following on from the saloon, which has been sporting the new Audi brand face since April of last year, the new Audi A6 Avant has been impressing the public since March 2005. The Audi A8 is likewise set to appear in the second half of 2005 with the single-frame grille and two new engines, including a 4.2-litre TDI version*, the most powerful diesel engine in the world in a saloon car. Production at new record level The production figures for the Audi Group in the first half of 2005 were 3.0 percent up on the record-breaking level of the prior-year period, at 413,574 vehicles. This total comprised 413,014 Audi vehicles and 560 Lamborghini vehicles. 263,852 of the Audi A3 and A4 were built at the Ingolstadt plant. The previous year s production figures were thus exceeded by 7.2 percent. This is attributable in no small measure to the immense success of the Audi A3 Sportback. Vehicle production 1 6/2005 1 6/2004 Audi cars 413,014 400,689 Audi A2 9,457 11,294 Audi A3 108,036 75,144 Audi TT 7,058 14,836 Audi A4 / RS 4 168,188 171,067 Audi A4 Cabriolet 14,069 18,866 Audi A6 / RS 6 91,865 88,557 Audi allroad quattro 4,340 8,822 Audi A8 10,001 12,103 TDI 225,961 196,964 quattro 106,610 106,760 Lamborghini cars 560 943 Lamborghini Gallardo 369 747 Lamborghini Murciélago 191 196 Total for Audi Group 413,574 401,632 At the Neckarsulm plant, a total of 115,587 vehicles of the Audi A2, Audi A6, Audi allroad quattro and Audi A8 models left the assembly lines. Engine production within the Audi Group rose by 7.7 percent to 840,483 units in the first half of 2005. This, too, represents a new record level. Engine production 1 6/2005 1 6/2004 Audi Group 840,483 780,354 AUDI HUNGARIA MOTOR Kft. 839,923 777,662 Automobili Lamborghini S.p.A. 560 943 Development in revenue and earnings The revenue of the Audi Group was increased by 7.3 percent to EUR 13,226 million in the first half of the year, thus establishing a new record. A key factor behind this new first-half record was the 14.9 percent increase in revenues from the sale of Audi vehicles in Germany and other European markets. This growth was promoted above all by the huge market success of the Audi A3 Sportback and the Audi A6. Higher income from sales of engines by AUDI HUNGARIA MOTOR Kft. likewise contributed to the positive development in revenue. Gross profit was boosted by 2.9 percent to EUR 1,386 million. Despite the continuing difficulties being experienced in certain markets, distribution costs rose at a lower rate than revenue. Administrative expenses were cut by 12.3 percent to EUR 107 million. * Fuel consumption (l/100 km) urban: 13.3 13.5; extra urban: 7.2 7.3; combined: 9.4 9.6; CO 2 emissions (g/km) combined: 253 258 76994352754 85769943527 63857699435 54638576994

Not least as the result of systematic cost-cutting drives, the effect of which is also evident in the positive development in gross profit, administrative expenses and other operating result, the profit from operating activities rose by 12.3 percent to EUR 658 million. The financial result for the first six months of EUR 148 million was EUR 64 million lower than in the same prior-year period. The main reasons for this were the reporting-date measurement of currency options, the measurement of securities available for sale at fair value with changes in fair value recognised directly in equity, as required for the first time during the reporting period according to IFRS, and lower income from the shares in the Chinese joint venture FAW-Volkswagen Automotive Company, Ltd. accounted for using the equity method. Profit before tax was 1.6 percent up on the previous year, at EUR 510 million. Development in liquidity The impressive achievements of the first half of 2005 are also reflected by the cash flow statement. The cash flow from operating activities rose sharply by EUR 945 million to EUR 2,071 million. This means that net liquidity has been increased by EUR 1,029 million since the 2004 balance sheet date, to EUR 3,062 million. Employees June 30, 2005 June 30, 2004 Audi Group 52,141 53,042 AUDI AG 44,667 44,787 Ingolstadt 31,048 31,068 Neckarsulm 13,619 13,719 AUDI HUNGARIA MOTOR Kft. 5,030 5,175 Lamborghini Group 720 730 AUTOGERMA S.p.A. 831 772 Outlook The slight upward trend in worldwide car sales is expected to hold up throughout the second half of 2005. By virtue of having a young, highly attractive product range available across the board, Audi will build on the sales successes of recent years again in 2005. Meanwhile the product and brand strategy will be systematically stepped up as the basis for future success. Under this strategy, a further attractive model will be added to all core car lines over the next few years, retail and service activities will be enhanced, the sales network internationally will be extended and considerable sums will be invested in the brand and its worldwide presence. Employees The Audi Group employed 52,141 people at the end of the first half of 2005. Whereas the workforce in Germany remained broadly constant, the number of employees at foreign production locations fell, mainly due to the withdrawal of COSWORTH TECHNOLOGY LIMITED from the group of consolidated companies at January 1, 2005. On the other hand the number of employees at sales subsidiaries rose slightly, not least following the establishment of new companies outside Germany. 85769943527546385769943527546385769943527546385769943 27546385769943527546385769943527546385769943527546385 69943527546385769943527546385769943527546385769943527 46385769943527546385769943527546385769943527546385769 43527546385769943527546385769943527546385769943527546 85769943527546385769943527546385769943527546385769943 27546385769943527546385769943527546385769943527546385 69943527546385769943527546385769943527546385769943527 46385769943527546385769943527546385769943527546385769 6 7

Finance Income statement of the Audi Group from January 1 to June 30, 2005 EUR million 1 6/2005 1 6/2004 Revenue 13,226 12,328 Cost of sales 11,840 10,981 Gross profit 1,386 1,347 Distribution costs 862 816 Administrative expenses 107 122 Other operating result +241 +177 Profit from operating activities 658 586 Financial result 148 84 Profit before tax 510 502 Income tax expense 210 166 Profit after tax 300 336 EUR 1 6/2005 1 6/2004 Earnings per share 6.97 7.78 Diluted earnings per share 6.97 7.78 Statement of changes in equity of the Audi Group from January 1 to June 30, 2005 EUR million Issued Capital Retained earnings capital reserve Legal reserve and other retained earnings Position before adjustment at Jan. 1, 2004 110 57 5,486 Changes in accounting policy, IAS 38 118 Position after adjustment at Jan. 1, 2004 110 57 5,368 Currency adjustments Dividends paid Withdrawal of holders of minority interests Consolidated net profit Other changes Position after adjustment at June 30, 2004 110 57 5,368 Position at Jan. 1, 2005 110 57 5,833 Capital contributions 195 Currency adjustments Withdrawal of holders of minority interests Dividends paid Consolidated net profit Other changes Differences from changes in consolidated companies 4 Position at June 30, 2005 110 252 5,829 The transfer of profit to Volkswagen AG takes place after approval of the annual accounts.

Balance sheet of the Audi Group at June 30, 2005 ASSETS EUR million June 30, 2005 Dec. 31, 2004 Non-current assets 8,632 8,872 Current assets 7,412 5,934 16,044 14,806 EQUITY AND LIABILITIES EUR million June 30, 2005 Dec. 31, 2004 Equity 6,452 5,988 Liabilities 9,592 8,818 Non-current liabilities 4,155 4,033 Current liabilities 5,437 4,785 16,044 14,806 Consolidated Equity Currency Reserve for Reserve for balance sheet Interests of Minority Total exchange cash flow market-price profit AUDI AG interest reserve hedges measurement shareholders of securities 32 37 0 0 5,658 12 5,670 118 118 32 37 0 5,540 12 5,552 9 2 8 1 7 2 2 4 4 335 334 1 335 22 22 22 23 15 0 333 5,860 6 5,866 47 31 0 5,984 4 5,988 195 195 32 32 32 2 2 2 2 300 300 300 72 17 55 55 4 4 15 41 17 300 6,452 0 6,452 8 9

Cash flow statement of the Audi Group from January 1 to June 30, 2005 EUR million 1 6/2005 1 6/2004 Cash flow from operating activities 2,071 1,126 Cash flow from investing activities 735 963 Net cash flow 1,336 163 Change in securities 1 0 Cash flow from financing activities 216 427 Effect of foreign exchange-rate changes and of changes to the Group 9 0 Change in cash and cash equivalents * 1,130 264 Cash and cash equivalents at start of period 1,759 1,208 Cash and cash equivalents at end of period 2,889 944 Cash and cash equivalents 2,889 944 Securities and credit extended 467 782 Gross liquidity 3,356 1,726 Credit outstanding 294 187 Net liquidity 3,062 1,539 * Cash and cash equivalents comprises balances with banks and affiliated companies as well as cheques and cash in hand. Explanatory notes Primary accounting basis AUDI AG prepares its consolidated financial statements on the basis of the International Financial Reporting Standards (IFRS). The Interim Report at June 30, 2005 takes account of the bases of IAS 34 Interim Financial Reporting. The consolidated financial statements for the first half of 2005 fundamentally use the same accounting policies as the consolidated financial statements for the 2004 financial year. A detailed description of those methods is published in the 2004 Annual Report. With effect from January 1, 2005 a number of amended or entirely new IFRS were to be applied for the first time, some of which had already been implemented early in Audi s 2004 consolidated financial statements. The modified IAS 32 and IAS 39 on the disclosure, presentation, recognition and measurement of financial instruments and IFRS 5 Non-current Assets Held for Sale and Discontinued Operations were furthermore taken into account in the first half of 2005. The unrealised gains and losses from the measurement at fair value of securities available for sale are now recognised directly in equity. Consolidated companies The consolidated financial statements include AUDI AG as well as all key domestic and foreign companies where AUDI AG directly or indirectly has scope for determining the financial and business policy in such a way as to benefit from the activities of these subsidiaries. There were the following changes to the group of consolidated companies since December 31, 2004: COSWORTH TECHNOLOGY LIMITED was withdrawn from the group. During the period under review, Audi Volkswagen Korea Ltd. was included in the consolidated financial statements for the first time as a fully consolidated company.

Segment information External revenue Internal revenue Total revenue Profit before tax EUR million 1 6/2005 1 6/2004 1 6/2005 1 6/2004 1 6/2005 1 6/2004 1 6/2005 1 6/2004 Germany 9,164 8,487 1,270 1,048 10,434 9,535 379 291 Rest of Europe 3,693 3,577 1,131 1,185 4,824 4,762 174 243 Rest of world 369 264 0 0 369 264 12 8 Consolidation measures 0 0 2,401 2,233 2,401 2,233 31 24 Audi Group 13,226 12,328 0 0 13,226 12,328 510 502 The Audi Group is structured along the lines of the regional locations of its assets, into the following segments: Germany (AUDI AG, Audi Vertriebsbetreuungsgesellschaft mbh, Audi Zentrum Hannover GmbH, Audi Synko GmbH, quattro GmbH), Rest of Europe (AUDI HUNGARIA MOTOR Kft., the Lamborghini Group comprising the companies Automobili Lamborghini Holding S.p.A., Automobili Lamborghini S.p.A., Motori Marini Lamborghini S.p.A., Lamborghini Arti- Marca S.p.A. and AUTOGERMA S.p.A.), and Rest of world (Audi Australia Pty Ltd., AUDI DO BRASIL E CIA., Audi Japan K.K., Audi Brasil Distribuidora de Veículos Ltda.*, Audi Volkswagen Korea Ltd.). * formerly AUDI SENNA Ltda. Events occurring after the first-half reporting date No events which must be reported occurred after June 30, 2005. Important dates in 2006 Annual Press Conference February 22, 2006 Annual General Meeting May 17, 2006 Interim Report August 2006 Status: August 2, 2005 10 11

Vorsprung durch Technik www.audi.com 75463857699435275463857699435275463857699435275463857699435275463 75463857699435275463857699435275463857699435275463857699435275463 75463857699435275463857699435275463857699435275463857699435275463 75463857699435275463857699435275463857699435275463857699435275463 75463857699435275463857699435275463857699435275463857699435275463 75463857699435275463857699435275463857699435275463857699435275463 43527546385769943527546385769943527546385769943527 85769943527546385769943527546385769943527546385769 27546385769943527546385769943527546385769943527546 69943527546385769943527546385769943527546385769943 46385769943527546385769943527546385769943527546385 43527546385769943527546385769943527546385769943527 85769943527546385769943527546385769943527546385769 AUDI AG Finance Analysis and Publications I/FF-12 85045 Ingolstadt Germany Phone +49 (0)8 4189-4 03 00 Fax +49 (0)8 4189-3 09 00 27546385769943527546385769943527546385769943527546 69943527546385769943527546385769943527546385769943 46385769943527546385769943527546385769943527546385 43527546385769943527546385769943527546385769943527 85769943527546385769943527546385769943527546385769