DGAP-Ad hoc: Volkswagen AG Vz. (VW AG)

DGAP-Adhoc: VOLKSWAGEN AG: Volkswagen AG has issued the following information: CO2 issue largely concluded

VOLKSWAGEN AG / Key word(s): Miscellaneous

09.12.2015 11:52

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.

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Volkswagen AG has issued the following information: CO2 issue largely concluded

* No unlawful change to the stated fuel consumption and CO2 figures found to date * Only a small number of the model variants of new cars will have the catalogue figure slightly adjusted

Just a month after questions relating to the CO2 figures measured on some of the Group's models arose, Volkswagen has largely concluded the clarification of the matter. Following extensive internal investigations and measurement checks, it is now clear that almost all of these model variants do correspond to the CO2 figures originally determined. This means that these vehicles can be marketed and sold without any limitations. The suspicion that the fuel consumption figures of current production vehicles had been unlawfully changed was not confirmed. During internal remeasurements slight deviations were found on just nine model variants of the Volkswagen brand.

These model variants will be remeasured by a neutral technical service under the supervision of the appropriate authority by Christmas. In cases where the correctness of original figures is confirmed, there will be no consequences. These cars can be offered for sale by dealers without any reservations. In the case of any deviations, the figures will be adjusted in the future in the course of the normal processes as required.

Volkswagen presented these results to the investigation commission of the Federal Government and the Federal Motor Transport Authority (KBA). The figure of approximately 800,000 vehicles under suspicion originally published by the Volkswagen Group has not been confirmed. The deviations found in the figures for only nine model variants amount to a few grams of CO2 on average, corresponding to increased cycle consumption in the NEDC of approximately 0.1 to 0.2 litres per 100 kilometres. With an annual production of approximately 36,000 vehicles, these model variants correspond to around only 0.5 per cent of the volume of the Volkswagen brand. The list of the nine model variants can be found at www.volkswagen-media-services.com

The Group's subsidiaries Audi, SKODA and SEAT have also agreed a similar procedure with the approval authorities responsible for the vehicles initially considered.

Customers' real-world consumption figures do not change and neither are any technical vehicle modifications necessary. Against this background, the negative impact on earnings of EUR2 billion that was originally expected has not been confirmed. Whether we will have a minor economic impact, depends on the results of the remeasurement exercise.

Please note: This text and the overview of vehicles to be adjusted in future with new CO2 figures, model year 2016, can be found at www.volkswagen-media-services.com. The information contained in this press release does not apply to products and services from the Volkswagen Group of America or Volkswagen Canada.

09.12.2015 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: michael.brendel@volkswagen.de 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 ---------------------------------------------------------------------------