Press Release

Braunschweig, 9 January 2024. Volkswagen Leasing has achieved two historic milestones with its second Green Bond within four months. Not only was the total transaction volume of EUR 2.75 billion even higher than the first Green Bond issued in September 2023, but the order book was also the best-filled in the capital market history of Volkswagen Financial Services at around ten billion euros. Frank Fiedler, Chief Financial Officer of Volkswagen Financial Services AG, said: "We are of course delighted by the very strong investor interest in our second Green Bond, particularly in the current challenging environment. This also demonstrates that we have been able to firmly establish sustainability, which is a fundamental component of our MOBILITY2030 strategy, in our refinancing as well."

The emission, which is divided into three bonds, consists of:

• EUR 850 million with a term of 2.75 years and a coupon of 3.625%
• EUR 1.15 billion with a term of 4.75 years and a coupon of 3.875%
• EUR 750 million with a term of 7.25 years and a coupon of 4.000%

The proceeds from the Green Bonds are being used exclusively to refinance financing products for BEVs (Battery Electric Vehicles), i.e. purely battery-powered vehicles. Volkswagen Financial Services are thereby supporting the sales of electric vehicles from the Volkswagen Group.

Volkswagen Financial Services are a business division of the Volkswagen AG group of com-panies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of TRATON Financial Services and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. Volkswagen Financial Services have a total of 17,713 employees worldwide – including 7,692 alone in Germany. Volkswagen Financial Services report total assets of around EUR 240 billion, an operating profit of EUR 5.60 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2022).

More information at www.vwfs.com