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DGAP-Adhoc: Administrative order imposing a fine (Bußgeldbescheid) being issued by the Braunschweig public prosecutor against Volkswagen in the context of the diesel crisis

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DGAP-Ad-hoc: VOLKSWAGEN AG / Key word(s): Miscellaneous
Administrative order imposing a fine (Bußgeldbescheid) being issued by
the Braunschweig public prosecutor against Volkswagen in the context of the
diesel crisis

13-Jun-2018 / 17:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Administrative order imposing a fine (_Bußgeldbescheid_) being issued
by the Braunschweig public prosecutor against Volkswagen in the context of
the diesel crisis

*- The Braunschweig public prosecutor issues an administrative order against
Volkswagen AG in the context of the diesel crisis and imposes a fine of EUR1
billion on Volkswagen AG *

*- Volkswagen accepts the fine and, by doing so, admits its responsibility *

The Braunschweig public prosecutor today issued an administrative order
against Volkswagen AG in its capacity as secondary party (_Nebenbetroffene_)
pursuant to sections 30 para. 1, 130 para. 1 of the German Act on Regulatory
Offences (_Ordnungswidrigkeitengesetz - OWiG_) in the context of the diesel
crisis. The administrative order provides for a fine of EUR1 billion in
total, consisting of the maximum penalty as legally provided for of EUR5
million and the disgorgement of economic benefits (_Abschöpfung
wirtschaftlicher Vorteile_) in the amount of EUR995 million.

According to the findings of the investigation carried out by the
Braunschweig public prosecutor, monitoring duties had been breached in the
Powertrain Development department in the context of vehicle tests. According
to the results obtained by the Braunschweig public prosecutor, they were
concurrent causes of 10.7 million vehicles in total with the diesel engines
of the types EA 288 (Gen3), in the United States and in Canada, and EA 189,
world-wide, being advertised, sold to customers, and placed on the market
with an impermissible software function in the period from mid-2007 until
2015.

Following thorough examination, Volkswagen AG accepted the fine and it will
not lodge an appeal against it. Volkswagen AG, by doing so, admits its
responsibility for the diesel crisis and considers this as a further major
step towards the latter being overcome. As a result of the administrative
order imposing the fine, the active regulatory offence proceedings conducted
against Volkswagen will be finally terminated. Volkswagen assumes that such
termination of the proceedings will also have significant positive effects
on further active administrative proceedings in Europe against the
Volkswagen AG and its subsidiaries.

13-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: VOLKSWAGEN AG
Berliner Ring 2
38440 Wolfsburg
Germany
Phone: +49 (0)5361 9 - 49840
Fax: +49 (0)5361 9 - 30411
E-mail: oliver.larkin@volkswagen.de
Internet: www.volkswagenag.com/ir
ISIN: DE0007664039, DE0007664005
WKN: 766403, 766400
Indices: DAX, Euro Stoxx 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated
Unofficial Market in Tradegate Exchange; Luxemburg, SIX

End of Announcement DGAP News Service

695083 13-Jun-2018 CET/CEST



(END) Dow Jones Newswires

June 13, 2018 11:42 ET ( 15:42 GMT)
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