Shareholder structure

SHAREHOLDER STRUCTURE AS OF DECEMBER 31, 2025

as a percentage of subscribed capital

At the end of the reporting year, Volkswagen AG’s subscribed capital amounted to €1,283,315,873.28. The chart above shows the shareholder structure of Volkswagen AG as of December 31, 2025.

The distribution of voting rights for the 295,089,818 ordinary shares was as follows at the reporting date: Porsche Automobil Holding SE, Stuttgart, held 53.3% of the voting rights. The second-largest shareholder was the State of Lower Saxony, which held 20.0% of the voting rights. Qatar Holding LLC was the third-largest shareholder with 17.0%. The remaining 9.7% of the ordinary shares were in free float.

Notifications of changes in voting rights in accordance with the Wertpapierhandelsgesetz (WpHG – German Securities Trading Act) are published on our website at www.volkswagen-group.com/distribution-of-voting-rights.