Third Quarter Report 2009 January 1 to September 30, 2009

Page 2 | Third Quarter Report 2009

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

Lamborghini brand 385 607

Other Volkswagen 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).

The Audi Group is once again highly competitive

Third Quarter Report 2009 | Page 3

DELIVERIES TO CUSTOMERS BY MODEL

1−9/2009 1−9/2008

Audi A3 160,102 169,443

Audi TT / TT RS 21,349 34,943

Audi A4 / RS 4 224,364 279,428

Audi A5 48,105 41,469

Audi Q5 72,159 1,023

Audi A6 / RS 6 142,652 168,479

Audi Q7 25,434 47,136

Audi A8 8,344 16,316

Audi R8 2,459 4,051

Internal vehicles before launch 388 0

Audi brand 705,356 762,288

Lamborghini brand 1,210 1,916

Other Volkswagen Group 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 S4,

Audi TT RS*, Audi A5 Cabriolet* and S5 Cabriolet* and A4 allroad quattro* models. Also impres-

sive were the 10-cylinder gasoline engine in the R8 5.2 FSI quattro* supercar, 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, sedan 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 engines. The A5 range will be rounded off in the spring of 2010 by the

sporty top-of-the-line Audi S5 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 roadster 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 headlamps.

Audi R8 Spyder 5.2 FSI quattro

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

Page 4 | Third Quarter Report 2009

The new Audi A4 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 sports car 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.

Page 4 | Third Quarter Report 2009

e-tron

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

Third Quarter Report 2009 | Page 5

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.

Page 6 | Third Quarter Report 2009

Fuel consumption and emission figures

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

Model Power output

(kW) Transmission FuelFuel consumption

(l/100 km) CO2 emissions

(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 multitronic, 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 Ingolstadt

Germany

Phone +49 (0)841 89-40300

Fax +49 (0)841 89-30900

email ir@audi.de

www.audi.com/investor-relations