Press Release

May 9, 2022

One million euros to promote young sporting talents – Volkswagen Financial Services launch new approach to sports sponsoring

Funding starts in the third quarter of 2022

Clubs with young individual and team athletes eligible to apply

Expert panel decides on sponsorship amount and duration

Braunschweig, 9 May 2022. Volkswagen Financial Services are expanding their sports sponsoring commitment and will be supporting young sportsmen and women in Lower Saxony starting from the third quarter of 2022. A sponsoring budget of one million euros a year has been made available for the purpose. Sports clubs with promising young individual athletes and youth teams are eligible to apply for the financial backing. A jury made up of sports scientists, sports journalists and experts in the field will decide on the amount and duration of funding on the basis of various selection criteria. Dr. Christian Dahlheim, Chairman of the Board of Volkswagen Financial Services AG, explained the company's new involvement: "Assuming social responsibility has been of enormous importance to our company for many years – especially within our region. By refocusing our sports sponsoring in this way, we are offering a chance to young talent from different sporting disciplines and therefore also doing justice to the full diversity of sport in our sports sponsorship."

Frank Fiedler, Chief Financial Officer of Volkswagen Financial Services AG, added: "We are known as a good corporate citizen and we take our social responsibility very seriously. That's why we see our realignment in the field of sports sponsoring as an important addition to our activities. Our other commitments remain unaffected."

The sponsorship involvement of Volkswagen Financial Services has four pillars of concern: sports, cultural life (e.g. the Braunschweig International Film Festival), social projects (e.g. the Our Children in Braunschweig Foundation), and environmental causes (e.g. the renaturation of moors and watercourses). In terms of sports sponsoring, Braunschweig's second-largest employer has so far focused exclusively on supporting professional sports in the region, which also includes its many years of being a dependable partner for the professional footballers at Eintracht Braunschweig.

Further details relating to application (criteria, procedure, timetable, etc.) will be posted in the summer.

Information for editors:

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial service business of the Scania brand and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. Volkswagen Financial Services have a total of 16,849 employees worldwide – including 7,570 alone in Germany. Volkswagen Financial Services report total assets of around EUR 235.6 billion, an operating result of EUR 5.67 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2021).

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