Statement from a Supervisory Board of Volkswagen AG

At a assembly today, a Supervisory Board of Volkswagen Aktiengesellschaft inaugurated Hans Dieter Pötsch (64) as a Chairman with evident effect. The Supervisory Board allocated Frank Witter (56), formerly Chairman of a Board of Management of Volkswagen Financial Services AG, to attain Pötsch as Member of a Board of Management with shortcoming for Finance and Controlling.

In a matter on interest of a Supervisory Board, Dr. Wolfgang Porsche, Member of a Executive Committee, said: “Our frank interjection go to Mr. Pötsch for similar to take on this critical charge during this formidable time. Mr. Pötsch has surpassing trust of a whole Volkswagen Group and a vehicle attention in ubiquitous as good as good imagination in financial markets. We would like to appreciate Berthold Huber who insincere shortcoming as halt Chairman of a Supervisory Board and who has also rendered good use to a Company in this function.”

Speaking after a meeting, Pötsch said: “I am beholden to a Supervisory Board for a trust voiced by my choosing as Chairman. we will do my pinnacle to expose a full law of what happened. we am resolutely resolved to make my grant so that Volkswagen can win behind a trust of customers, a public, investors and business partners. And we trust my executive charge is to play my partial in running Volkswagen towards a successful future.”

The new Supervisory Board Chairman continued: “Today’s assembly showed once again that a investigations are being followed evenly and intensively. The law organisation Jones Day consecrated by a Supervisory Board to control a outmost review is literally withdrawal no mill unturned.”

He combined that surmise or vague, cloudy information did not offer anyone: “The Supervisory Board attaches good significance to a fact that construction is being conducted by Jones Day. We will closely follow and support this process. And we will do what is compulsory of us to make certain that a required consequences are drawn from a investigation.”