Third Quarter Report 2009

January 1 to September 30, 2009

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The Group is once again highly competitive

ECONOMIC DEVELOPMENT

The decline in global economic output came to an end in the summer of this year. As well as the remarkable economic growth in China and some developing nations, there was a considerable slow-down in the downward economic trend in industrialized countries. This was primarily due to extensive economic stimulus programs and an expansive monetary policy. Until September 2009, worldwide demand for automobiles had been falling significantly. In particular the western industrialized countries, the countries of Central and Eastern Europe, and Japan recorded heavy falls in sales. A revival was seen in the automobile markets of numerous countries in the third quarter, with the number of new registrations on the rise again thanks to state purchase incentives. In the United States, sales of automobiles to September had been around 27 percent below the previous year’s level. Most passenger car markets in Western Europe also recorded a consider- able fall in demand in the period under review. In Spain and Great Britain, for example, the market contracted by 28.6 and 15.5 percent respectively. In contrast, new car registrations in Germany were up by 26.1 percent on the previous year’s level, due not least of all to the state “environmental bonus.” In the Asia-Pacific region, the Chinese passenger car market experienced highly dynamic growth of 44.9 percent to September, while new car registrations in Japan were down by 14.0 percent.

DELIVERIES

The Audi Group delivered in total 282,095 (293,657) vehicles to customers in the third quarter of 2009. The Audi brand was responsible for 239,521 (246,069) of these automobiles, almost matching the previous year’s high level in spite of the economic crisis.

Q3/2009 Q3/2008 Audi brand 239,521 246,069 brand 385 607 Other Group brands 42,189 46,981 Total, Group 282,095 293,657

In the period between January and September 2009, the Audi Group delivered 852,340 (934,341) vehicles worldwide. In the midst of a difficult market environment, the Audi brand, with 705,356 (762,288) cars delivered, performed better in the period under review than the overall markets and therefore increased its market shares in many countries. In Europe the Audi brand was very successful in the first nine months and secured the leading position by quite some distance in the premium segment. In the Western European markets (not including Germany), the company increased its market share with 278,582 (320,371) de- liveries by 0.2 percentage points to 3.9 percent. In its home market of Germany, the Audi brand delivered 167,422 (186,464) cars. As a premium brand, Audi only benefited to a limited extent from the state “environmental bonus.” In the U.S. market, which is still experiencing difficulties, the brand with the four rings per- formed much better than the overall market, with 59,518 (65,817) deliveries. It therefore in- creased its market share in the premium import market in the first nine months from 6.7 to 8.3 percent. In Canada the company recorded growth of 25.3 percent to 8,423 (6,720) Audi models. The Audi brand also grew in the first three quarters of 2009 in the dynamic markets of the Asia- Pacific region, with deliveries up by 17.2 percent to 138,523 (118,178) vehicles. In China (in- cluding Hong Kong) the company achieved significant growth rates and consolidated its leading role in the premium segment by increasing the number of vehicles delivered by 19.7 percent to 108,859 (90,934).

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DELIVERIES TO CUSTOMERS BY MODEL

1−9/2009 1−9/2008 160,102 169,443 Audi TT / TT RS 21,349 34,943

Audi A4 / RS 4 224,364 279,428 48,105 41,469 72,159 1,023

Audi A6 / RS 6 142,652 168,479 25,434 47,136 8,344 16,316 2,459 4,051 Internal vehicles before launch 388 0 Audi brand 705,356 762,288 Lamborghini brand 1,210 1,916 Other brands 145,774 170,137 Total, Group 852,340 934,341

EXPANDING THE PRODUCT PORTFOLIO

The Audi Group continued its product offensive in the first three quarters of 2009. In the first half of the year numerous new products were successfully launched with the , Audi TT RS*, Audi A5 Cabriolet* and S5 Cabriolet* and A4 allroad quattro* models. Also impres- sive were the 10-cylinder gasoline in the R8 5.2 FSI quattro* , the Q7 3.0 TDI clean diesel quattro* with currently the cleanest diesel technology in the world and the particu- larly low consumption figures of the new A4 2.0 TDI e* engine. The Audi Group also continued to expand its portfolio in the third quarter. As part of its 100- year celebrations, the brand with the four rings presented a new vehicle concept − the Audi A5 Sportback*. The third member of the A5 model family is a sporty mix of coupe, and Avant, distinguished by an elegant design line, high comfort and, in particular, its suitability for every- day use. The A5 Sportback has been available to customers since September with a choice of five powerful TDI and TFSI . The A5 range will be rounded off in the spring of 2010 by the sporty top-of-the-line Sportback, which was introduced in September 2009 at the In- ternational Motor Show (IAA) in Frankfurt. The Audi brand thrilled the public not only with the S5 Sportback at the world-famous motor show, but with a further four new models: Open-top driving with breathtaking dynamism: With the Audi R8 Spyder 5.2 FSI quattro* the brand with the four rings has added a model to its supercar range. As in the coupe, the high-performance 10-cylinder engine with gasoline direct injection impresses with its 386 kW (525 hp) of output alongside innovative technologies such as the aluminum Audi Space Frame body and all-LED .

* Fuel consumption and emission figures at the end of the Quarterly Report

Audi R8 Spyder 5.2 FSI quattro

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e-tron

The new 3.0 TDI clean diesel quattro* currently possesses the cleanest diesel technol- ogy in the world; after being introduced in the Audi Q7 it can now be found in the successful A4 line. With its clean diesel technology, the Audi A4 is already achieving the limits of the Euro 6 emission standard which will not come into force until 2014. Also introduced for the first time were the Audi A3 and A3 Sportback models available from 2010 with a 1.2-liter TFSI engine which combines maximum performance with minimum con- sumption. The turbocharged 1.2 TFSI with gasoline direct injection, with a power output of 77 kW (105 hp), is expected to consume on average only 5.5 liters of premium fuel per 100

kilometers, emitting 127 grams of CO2/km.* As a further highlight of the IAA, the Audi brand presented the e-tron, the progressive design of a high-performance powered purely by electricity. Four electric motors, one on each wheel, turn the concept vehicle into a genuine quattro and allow the e-tron to accelerate from 0 to 100 km/h in only 4.8 seconds. The lithium-ion battery gives it an impressive range of ap- proximately 250 kilometers. The e-tron is to become available in the spring of 2010 as a proto- type for test drives and a limited number will be launched as early as 2012. In the context of this year’s Audi Efficiency Challenge, the new A3 1.6 TDI* was presented in

September. Developing 77 kW (105 hp) and expected to achieve average CO2 emissions of 99 g/km, this model will set a new efficiency benchmark for Audi and will become available in 2010. The combined consumption is expected in future to be an exemplary 3.8 liters of diesel fuel per 100 kilometers.

FINANCIAL PERFORMANCE

In the third quarter of 2009 the financial performance, net worth and financial position of the Audi Group continued as expected to be affected by the fall in sales. Revenue consequently totaled EUR 7,162 (8,412) million. Despite the continuing impact of the economic crisis, the Audi Group again achieved a very positive operating profit of EUR 348 (760) million in the third quarter.

In the period between January and September 2009, the total revenue of EUR 21,689 (25,799) million was unable to match the previous year’s high figure due to the economic downturn. However, the company achieved a very positive operating profit of EUR 1,172 (2,059) million in the first three quarters, thus providing impressive evidence that it is highly competitive in the current difficult market environment. The positive company performance is due, in particular, to the efforts of previous years to continually improve processes and optimize costs. The Audi Group therefore achieved to September an operating return on sales of 5.4 (8.0) percent and, in so doing, also secured a leading position in the automotive industry. There have been no significant changes to the group of consolidated companies since the start of the year.

* Fuel consumption and emission figures at the end of the Quarterly Report

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OUTLOOK

The world car market will for the time being continue to be affected by the difficult underlying economic situation. The upturn which started in the third quarter in many car markets will somewhat alleviate the heavy fall in sales in the first half of the year. For the whole of 2009 the Audi Group is expecting a considerable fall in demand for cars in virtually all sales markets. The Audi Group sees itself as still being confronted by difficult underlying conditions to the end of the year. Risks lie in particular in the continued consumer reluctance to buy and in the con- tinuing volatility of currencies and raw materials prices. The risks reported in the Risk Report of the 2008 Annual Report remain unchanged. The positive company performance in the first three quarters of 2009 is due in particular to the company being managed in a cautious and forward-looking manner in previous years. However, the Audi Group cannot completely avoid the impact of the economic crisis. Given the fall in overall demand worldwide, deliveries by the Audi Group will not reach the pre- vious year’s high level. Provided there are no more setbacks in the economy, the company is convinced though that it will deliver in total more than 900,000 Audi vehicles in 2009 and thus succeed in bettering its original target. Thanks in particular to numerous new products, the Audi brand will be able to perform much better than the overall car market worldwide. As a result of the fall in deliveries, revenue and profit will be below the previous year’s level. Thanks to the pleasing performance in the current fiscal year, however, the Audi Group is still expecting a very positive operating profit for the whole of 2009. The company is expecting a successful fourth quarter with profit being above that in the third quarter. Despite the currently difficult underlying conditions, the Audi Group will press ahead with its investment projects in new products and pioneering technologies as planned and therefore create the basis for continued successful performance.

PERSONNEL CHANGES

In the period under review the following changes were made in the Supervisory Board of AUDI AG: Dr. Wendelin Wiedeking and Holger Härter resigned from the Supervisory Board of AUDI AG with effect from July 23, 2009. Effective end of September 30, 2009, Hubert Waltl left the Supervisory Board of the company at his own request. He took on the role of Board Member for Production and Logistics of the Volkswagen Passenger Cars brand. On October 6, 2009, Peter Kössler succeeded Hubert Waltl. There were no personnel changes in the Board of Management of AUDI AG.

DISCLAIMER

This Quarterly Report contains forward-looking statements relating to anticipated develop- ments. These statements are based upon current assessments and are by their very nature sub- ject to risks and uncertainties. Actual outcomes may differ from those predicted in these state- ments.

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Fuel consumption and emission figures

As at: October 2009 (all data apply to features of the German market)

Power output Fuel consumption CO2 emissions Model (kW) Fuel (l/100 km) (g/km) urban extra urban combined combined Audi A3 A3 1.2 TFSI* 77 6-speed Super 6.7 4.7 5.5 127 A3 1.2 TFSI* 77 S tronic, 7-speed Super 6.5 4.6 5.3 123 A3 1.6 TDI 66 5-Gang Diesel 5.6 3.7 4.4 114 A3 1.6 TDI 77 5-Gang Diesel 5.0 3.7 4.1 109 A3 1.6 TDI* 77 5-speed Diesel 4.7 3.3 3.8 99 Audi A3 Sportback A3 Sportback 1.2 TFSI* 77 6-speed Super 6.7 4.7 5.5 127 A3 Sportback 1.2 TFSI* 77 S tronic, 7-speed Super 6.5 4.6 5.3 123 Audi TT RS Coupé TT RS Coupé 2.5 TFSI quattro 250 6-speed Super Plus 13.1 6.9 9.2 214 Audi TT RS Roadster TT RS Roadster 2.5 TFSI quattro 250 6-speed Super Plus 13.3 7.2 9.5 221 Audi A4 Sedan A4 2.0 TDI e 100 6-speed Diesel 5.8 3.8 4.6 119 A4 3.0 TDI clean diesel quattro 176 tiptronic, 6-speed Diesel 8.7 5.5 6.7 175 Audi A4 Avant A4 Avant 2.0 TDI e 100 6-speed Diesel 6.1 4.2 4.9 129 A4 Avant 3.0 TDI clean diesel quattro 176 tiptronic, 6-speed Diesel 8.8 5.8 6.9 180 Audi A4 allroad quattro A4 allroad quattro 2.0 TFSI 155 6-speed Premium 10.2 6.5 7.9 184 A4 allroad quattro 2.0 TFSI 155 S tronic, 7-speed Premium 10.2 6.8 8.1 189 A4 allroad quattro 2.0 TDI 105 6-speed Diesel 7.5 5.5 6.2 164 A4 allroad quattro 2.0 TDI 125 6-speed Diesel 7.5 5.5 6.2 164 A4 allroad quattro 3.0 TDI 176 6-speed Diesel 9.6 5.8 7.2 189 A4 allroad quattro 3.0 TDI 176 S tronic, 7-speed Diesel 8.7 6.1 7.1 189 Audi A5 Sportback A5 Sportback 2.0 TFSI 132 6-speed Premium 8.4 5.4 6.5 152 A5 Sportback 2.0 TFSI 132 , CVT Premium 9.5 5.8 7.2 169 A5 Sportback 2.0 TFSI 155 6-speed Premium 8.4 5.4 6.5 152 A5 Sportback 2.0 TFSI 155 multitronic, CVT Premium 9.5 5.8 7.2 169 A5 Sportback 2.0 TFSI quattro 155 6-speed Premium 9.8 5.9 7.3 172 A5 Sportback 2.0 TFSI quattro 155 S tronic, 7-speed Premium 9.4 6.4 7.5 174 A5 Sportback 3.2 FSI quattro 195 S tronic, 7-speed Premium 13.5 6.8 9.3 216 A5 Sportback 2.0 TDI 105 multitronic, CVT Diesel 7.5 4.8 5.8 152 A5 Sportback 2.0 TDI 125 6-speed Diesel 6.5 4.5 5.2 137 A5 Sportback 2.0 TDI quattro 125 6-speed Diesel 7.3 5.0 5.8 152 A5 Sportback 2.7 TDI 140 6-speed Diesel 8.1 4.8 6.0 159 A5 Sportback 2.7 TDI 140 multitronic, CVT Diesel 8.0 5.6 6.5 169 A5 Sportback 3.0 TDI quattro 176 6-speed Diesel 8.9 5.4 6.7 176 A5 Sportback 3.0 TDI quattro 176 S tronic, 7-speed Diesel 8.3 5.7 6.6 174 Audi A5 Cabriolet A5 Cabriolet 1.8 TFSI 118 6-speed Premium 10.0 5.9 7.4 172 A5 Cabriolet 1.8 TFSI 118 multitronic, CVT Premium 9.5 6.4 7.5 174 A5 Cabriolet 2.0 TFSI 132 multitronic, CVT Premium 9.9 6.0 7.4 174 A5 Cabriolet 2.0 TFSI 155 6-speed Premium 9.1 5.4 6.8 159 A5 Cabriolet 2.0 TFSI 155 multitronic, CVT Premium 9.9 6.0 7.4 174 A5 Cabriolet 2.0 TFSI quattro 155 S tronic, 7-speed Premium 9.5 6.6 7.7 179 A5 Cabriolet 3.2 FSI 195 multitronic, CVT Premium 12.1 6.5 8.6 199 A5 Cabriolet 3.2 FSI quattro 195 S tronic, 7-speed Premium 13.8 7.0 9.5 219 A5 Cabriolet 2.0 TDI 125 6-speed Diesel 6.7 4.7 5.5 144 A5 Cabriolet 2.7 TDI 140 6-speed Diesel 8.1 5.2 6.2 164 A5 Cabriolet 2.7 TDI 140 multitronic, CVT Diesel 7.7 5.8 6.5 169 A5 Cabriolet 3.0 TDI quattro 176 S tronic, 7-speed Diesel 8.5 5.8 6.8 179 S5 Cabriolet 3.0 TFSI quattro 245 S tronic, 7-speed Premium 13.8 7.3 9.7 224 Audi Q7 Q7 3.0 TDI clean diesel quattro 176 tiptronic, 6-speed Diesel 11.2 7.6 8.9 234 Audi R8 Coupé R8 5.2 FSI quattro 386 6-speed Super Plus 22.6 10.2 14.7 351 R8 5.2 FSI quattro 386 R tronic, 6-speed Super Plus 20.7 9.6 13.7 327 Audi R8 Spyder R8 Spyder 5.2 FSI quattro 386 6-speed Super Plus 22.7 10.4 14.9 356 R8 Spyder 5.2 FSI quattro 386 R tronic, 6-speed Super Plus 20.9 9.9 13.9 332

* The Audi A3 1.2 TFSI and the new Audi A3 1.6 TDI are not yet on sale. The Audi A3 1.2 TFSI with S tronic and the Audi A3 1.6 TDI do not yet have type approval and therefore do not comply with Directive 1999/94/EC; the fuel consumption and emissions figures stated above are provisional values. AUDI AG Financial Communication/Financial Analysis I/FF-12 85045 Germany Phone +49 (0)841 89-40300 Fax +49 (0)841 89-30900 email [email protected] www.audi.com/investor-relations