Report of the Supervisory Board


Ladies and Gentlemen,

In fiscal year 2013, the Supervisory Board of Volkswagen AG addressed the Company’s position and development regularly and in detail. In compliance with the suggestions and recommendations of the German Corporate Governance Code and the legal requirements, we supported the Board of Management in its running of the business and advised it on issues relating to the management of the Company. The Supervisory Board was directly involved in all decisions of fundamental importance to the Group. In addition, we discussed current strategic considerations with the Board of Management at regular intervals.

The Supervisory Board was informed by the Board of Management regularly, promptly and comprehensively in writing or orally on the development of the business and the Company’s planning and position, including the risk situation and risk management. In addition, the Board of Management reported to us on an ongoing basis on compliance-related topics and other topical issues. In all cases we received the documents relevant to our decisions in good time for our meetings. We also received a detailed monthly report from the Board of Management on the current business position and the forecast for the current year. Any variances in performance as against the plans and targets previously drawn up were explained by the Board of Management in detail, either orally or in writing. We analyzed the reasons for the variances together with the Board of Management so as to enable countermeasures to be derived.

The Chairman of the Supervisory Board consulted with the Chairman of the Board of Management at regular intervals between meetings about, among other things, the Volkswagen Group’s strategy and planning, the development of the business, the Group’s risk situation and risk management, and compliance issues.

The Supervisory Board held a total of five meetings in fiscal year 2013. The average attendance ratio was 93%; no member of the Supervisory Board took part in fewer than half of the meetings. In addition, resolutions on urgent matters were adopted in writing or using electronic communications media.