Effects of new and amended IFRSs

Volkswagen AG has applied all accounting pronouncements adopted by the EU and effective for periods beginning in fiscal year 2025.

The amendments to IAS 21 for determining the exchange rate in the event of a lack of non-exchangeability, regardless of whether this is temporary or permanent, came into force on January 1, 2025. The supplementary guidance governs when a currency is exchangeable into another currency and when it is not, and how the exchange rate should be determined if a currency is not exchangeable.

The amendments referred to above do not materially affect the Volkswagen Group’s net assets, financial position and results of operations, or the cash flows.