VOLKSWAGEN AG / Key word(s): Miscellaneous 03.11.2015 19:01 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Volkswagen AG has issued the following information: After irregularities were found in the development of diesel engines, the Board of Management of Volkswagen AG announced there would be a comprehensive investigation to establish whether there were indications of further irregularities relating to the approval of Volkswagen Group vehicles. During the course of internal investigations unexplained inconsistencies were found when determining Type Approval CO2 levels. Based on present knowledge around 800,000 vehicles from the Volkswagen Group are affected. We wish to reiterate that the safety of these vehicles is in no way compromised. A reliable assessment of the scale of these irregularities is not yet possible. An initial estimate puts the economic risks at approximately two billion euros. The Board of Management of Volkswagen AG will immediately start a dialog with the responsible authorities regarding the consequences of these findings. This should lead to a reliable assessment of the legal, and the subsequent economic consequences of this not yet fully explained issue. In cooperation with the responsible authorities, Volkswagen will endeavor to clarify the further course of action as quickly as possible and ensure the correct CO2 classification for the vehicles affected. The Board of Management of Volkswagen AG deeply regrets this situation and wishes to underscore its determination to systematically continue along the present path of clarification and transparency. 03.11.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: VOLKSWAGEN AG Brieffach 1849 38436 Wolfsburg Germany Phone: +49 (0)5361 9 - 49840 Fax: +49 (0)5361 9 - 30411 E-mail: [email protected] Internet: www.volkswagenag.com/ir ISIN: DE0007664039, DE0007664005 WKN: 766403, 766400 Indices: DAX, Euro Stoxx 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Terminbörse EUREX; Luxemburg, SIX End of Announcement DGAP News-Service ---------------------------------------------------------------------------