“Audi: The number one premium brand”

Investor Visit, Commerzbank,

Ingolstadt, 12 May 2010

Axel Strotbek CFO, Member of the Board, AUDI AG

Challenges for the automotive industry in 2009

Unstable development in exchange rates and raw-material

prices

Downsizing, CO2

Risks of insolvency:suppliers/

dealerships

Worldwide decline

in volume

Refinancing

Automotive industry

* Who will survive the car crash?

*

492546

600 635 653726 742 770 779

829905

964 1,003950

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

- 5.4%

Development in deliveries to customers –

Audi

[in thousand vehicles]

1,604

1,2381,051

1,3011,385

1,032

1,407

2,015

2,705 2,772

5.4

8.18.06.5

5.35.14.55.86.35.2

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Operating profit/Operating return –

Audi Group

[EUR million/percent]

Audi: the number one premium brand

… via expertise,

passion and agility.

… via the

best brand

experience.

… via innovative

and emotional

products.

We

delight

customers worldwide

Most attractive

employer

Vision

Mission

Goals Continuous

growth

Superior

financial

strength

Image leader

Strategy 2020

Audi deliveries to customers –

1st quarter 2010

[in thousand vehicles]

2009

1.8

South America+70.5%

3.0

2010

2009

19.025.7

2010

+35.4%North America

2009

137.9

Western Europe+12.0%

154.5

2010

2009

7.2

Eastern Europe+10.7%

8.0

2010

2009

6.0

Africa/Middle East

+40.2%

8.4

20102009

37.9

Asia-Pacific+70.0%

64.4

2010

Audi A8

►

Fuel efficiency increased

by up to 22%

►

Audi A8 3.0 TDI: 6.0 liters of diesel / 100 kilometers

(39.20 US mpg)

159 grams of CO2

/ kilometer

(255.89 g/mile)

►

New-generation Audi Space Frame:

40% lighter than steel body

►

Extended modular efficiency platform

Audi A8 –

Superior efficiency

Audi A1

►

Around EUR 300 million invested

►

88 structural measures

►

Production of around 50,000 Audi A1

cars planned for 2010

Audi Brussels

Market launches in 2010

January February March April May June July August September October November December

R8 Spyder

S5 Sportback

A8

A1RS5

TTA3

Strategy 2020

Audi: the number one premium brand

… via expertise,

passion and agility.

… via the

best brand

experience.

… via innovative

and emotional

products.

We

delight

customers worldwide

Most attractive

employer

Vision

Mission

Goals Continuous

growth

Superior

financial

strength

Image leader

Over 100 awards in 2009

“The Best Cars 2010”

Midsize Convertibles Offroad

vehicles

1.

Audi A4

35.4 %

2.

BMW 3 Series

19.8 %

3.

MB C-Class 17.6 %

1.

Audi R8 Spyder

13.7 %

2.

MB SL 13.2 %

3.

Porsche 911 11.3 %

1.

Audi Q5 17.4 %

2.

MB G-Class 9.6 %

3.

BMW X1

9.0 %

Upper midsize class Sports cars Compact class

1.

MB E-Class

35.8 %

2.

Audi A6

27.6 %

3.

BMW 5 Series

20.8 %

1.

MB SLS AMG 21.1 %

2.

Audi R8

20.9 %

3.

Porsche 911

20.7 %

1.

VW Golf

28.9 %

2.

Audi A3

20.8 %

3.

BMW 1 Series

17.7 %

“The Best Cars 2010”

Prize-winning efficiency

►

4.6 liters of diesel / 100 kilometers (51.13 US mpg)

►

119 grams CO2

/ kilometer (191.51 g/mile)

►

Modular efficiency platform

►

Start-stop system

►

Final drive ratio

►

Low-rolling resistance tires

►

Energy recovery

►

On-board computer with

efficiency program

Audi A4 2.0 TDI e

►

Full hybrid

►

6.2 liters of gasoline / 100 kilometers (37.94 US mpg)

►

144 grams of CO2

/ kilometer (231.75 g/mile)

Audi A8 hybrid

Audi e-tron

Strategy 2020

Audi: the number one premium brand

… via expertise,

passion and agility.

… via the

best brand

experience.

… via innovative

and emotional

products.

We

delight

customers worldwide

Most attractive

employer

Vision

Mission

Goals Continuous

growth

Superior

financial

strength

Image leader

Audi Group –

Key Figures 1st quarter 2009

2010Jan.-Mar.

2009Jan.-Mar.

Change

Revenue [EUR million]

6,700 8,260 + 23.3%

Operating profit [EUR million]

363 478 + 31.6%

Operating margin [percent]

5.4 5.8

Employees –

Audi Group

(average, in thousand)

vs. Deliveries to customers –

Audi

(in thousand vehicles)

58.057.8

53.352.352.453.152.751.251.149.4

45.8

41.037.8

34.5

492546

599 635 653726 742 770 779

829905

964 9501,003

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Strategy 2020

Audi: the number one premium brand

… via expertise,

passion and agility.

… via the

best brand

experience.

… via innovative

and emotional

products.

We

delight

customers worldwide

Most attractive

employer

Vision

Mission

Goals Continuous

growth

Superior

financial

strength

Image leader

Employees

►

9 production starts accomplished last year

►

Processes permanently optimized

►

Profit share for employees

again in 2009:

Around EUR 2,300 on average

at the German sites

►

In addition a one-off special bonus of around EUR 1,200 per employee

►

350 experts

electric drive

Axel Strotbek CFO, Member of the Board, AUDI AG

Disclaimer

This presentation contains forward-looking statements and information on the business development of the Audi Group. These statements may be spoken or written and can be recognized by terms such as “expects”, “intends”, “plans”

or words with

similar meaning. These statements are based on assumptions relating to the development of the economies of individual countries, and in particular of the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of going to

press. The estimates

given involve a degree of risk, and the actual developments may differ from those forecast.

Consequently, any unexpected fall in demand or economic stagnation in our key sales markets, such as in Western Europe (and especially Germany) or in China or the USA, will have a corresponding impact on the development of our business. The same applies in the event of a significant shift in current exchange rates relative to the US dollar, sterling, yen, Brazilian real, Chinese rinminbi

and Czech koruna.

If any of these or other risks occur, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly

differ from those

expressed or implied by such statements.

We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superceded.