Ad-hoc release of Dr. Ing. h.c. F. Porsche AG

Placement price for Porsche shares set at 82.50 Euro per share

Volkswagen Aktiengesellschaft (“Volkswagen”) had announced on 5 September 2022 that it intends to offer up to 25% of the preference shares of Dr. Ing. h.c. F. Porsche AG ("Porsche AG") for public sale in an initial public offering. On 18 September 2022, Volkswagen set the price range for the preference shares in Porsche AG to be placed at EUR 76.50 up to EUR 82.50 per preference share.

Volkswagen has today set the placement price for the preference shares at 82.50 Euro per preference share in consultation with Porsche AG and the advising banks. A total of 113,875,000 preference shares (including 14,853,260 preference shares to cover possible over-allotments) will be placed with investors from the portfolio of Volkswagen AG.

The preference shares of Porsche AG are expected to be traded on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) under the ticker symbol P911 GY (Xetra) as of 29 September 2022. The International Securities Identification Number (ISIN) is DE000PAG9113 and the securities identification number (WKN) is PAG911.