VW Annual Report 2022

The Volkswagen Group
achieved a solid result in 2022 and improved its profitability. And it did so in a challenging environment. Our
continued price and cost discipline and improvements in the mix contributed to this result. As a consequence,
we increased our operating result before special items by €2.5 billion to €22.5 billion. Sales revenue
rose by 11.6% to €279.2 billion thanks to improvements in the mix and in our price positioning.

The Volkswagen Group’s unit sales in the reporting year stood at 8.5 (8.6) million vehicles. Sales revenue
increased by 11.6% to €279.2 billion. Improved price positioning and mix and exchange rate effects had a
positive impact.

The operating result before special items improved to €2.6 (2.2) billion, which was attributable above
all to improved price positioning, positive mix effects and reduced sales incentives.