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Annual Report

Cooperation between the Board of Management and the Supervisory Board

The Board of Management has agreed the strategic orientation of the Volkswagen Group in close consultation with the Supervisory Board. At regular intervals, the two Boards jointly determine progress on the implementation of the strategy and discuss additional measures. The Board of Management provides the Supervisory Board with regular, complete and prompt verbal and written reports on all relevant issues relating to planning, business development, the risk situation, risk management, including the internal control system, and compliance.

More information on the cooperation between the Board of Management and the Supervisory Board of Volkswagen AG and on the work and structure of the committees of the Supervisory Board can be found in the Report of the Supervisory Board. Information on the membership of the Board of Management and Supervisory Board, as well as its committees, may be found in the chapter Executive Bodies.

REMUNERATION REPORT

Extensive details of the remuneration of all members of the Board of Management and the Supervisory Board may be found in the Remuneration Report.

CORPORATE GOVERNANCE DECLARATION

The corporate governance declaration is permanently available on our website at www.volkswagenag.com/ir.

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