Driver China five. CITIC Trust Co., Ltd. Contact: Phone: Fax:

Deal Name: Issuer/Trustee: Originator/Servicer: Reporting Entity: Driver China five CITIC Trust Co., Ltd Volkswagen Finance (China) Co., Ltd Volkswagen Finance (China) Co., Ltd Contact: Phone: +86 10 6589 7000 Fax: + 86 10 6591 1606 Email: ABSOperations.China@vwfsag.com Lead Underwriter Joint Lead Underwriter Joint Lead Underwriter Financial Advisor CITIC Securities Co., Ltd HSBC Bank (China) Company Limited Industrial and Commercial Bank of China Limited The Hongkong and Shanghai Banking Corporation Limited IMPORTANT NOTICE to Investors: With effect from January 2019, Moody's has upgraded Driver China five s Class B notes from A3(sf) to A2(sf). Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 1 / 43

Contents Page Table of Contents 1 Cover 2 Contents 3 Reporting Details 4 Parties Overview 5 Transaction Events I 6 Transaction Events II 7 Transaction Events III 8 Notes I 9 Notes II 10 Credit Enhancement 11 Waterfall 12 Amortisation Profile I 13 Amortisation Profile II 14 Run Out Schedule I 15 Run Out Schedule II 16 17 Delinquencies 18 Defaults I 19 Delinquencies & Default 20 Defaults & Recoveries 21 Cumulative Gross Loss 22 Prepayments 23 Pool Data I 24 Pool Data II 25 Pool Data III 26 Pool Data IV 27 Pool Data V 28 Pool Data VI 29 Pool Data VII 30 Pool Data VIII 31 Share of Vehicles Fitted with an Unfixed EA189 Engine 32 Loan Level Data Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 2 / 43

Reporting Details Deal Overview Cut-Off Date: 2016/10/31 Information Date: Scheduled Date of Clean-Up-Call: 2019/5/26 Payment Date: Lagal Maturity Date: 2024/9/26 Reporting Date: Issue Date: 2016/12/7 Asset Collection Period: Period No.: 27 Interest Accrual Period: Reporting Frequency: Monthly Note Payment Period: Next Payment Date: 2019/3/26 Days accrued: 2019/2/14 2019/2/26 2019/1/31 from 2019/01/01 until 2019/01/31 from 2019/01/26 until 2019/02/26 from 2019/01/26 until 2019/02/26 31 Type of Car at Pool Cut Percentage of Percentage New Cars 70,752 99.30% 3,957,572,592.16 98.94% Used Cars 496 0.70% 42,448,414.34 1.06% Total 71,248 100.00% 4,000,021,006.50 100.00% Credit Type at Pool Cut Percentage of Percentage Classic Credit 70,534 99.00% 3,929,570,418.41 98.24% Used Car Classic Credit 496 0.70% 42,448,414.34 1.06% Balloon Credit 3 0.00% 1,163,013.38 0.03% Exquisite easy loan 208 0.29% 26,463,364.76 0.66% Enjoyable balance loan 7 0.01% 375,795.61 0.01% Total 71,248 100.00% 4,000,021,006.50 100.00% Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 3 / 43

Parties Overview Lead Underwriter: CITIC Securities Co., Ltd Registered Address: North Tower Excellence Times Plaza II, No.8 Central III Avenue, Futian District, Shenzhen, Guangdong 518048, People s Republic of China Legal Representative: Zhang Youjun Contact: David Zhang, Patrick Bi, Alina Wang Telephone: +86 10 6083 3182, +86 10 6083 3563, +86 10 6083 3583 Fax: +86 10 6083 3504 Website: www.cs.ecitic.com Email: zhangdy@citics.com, bzq@citics.com, wangqingzhi@citics.com Trust Company/Issuer: CITIC Trust Co., Ltd Registered Address: 13th Floor, Capital Mansion, 6 Xinyuannanlu, Chaoyang District, Beijing 100004, People s Republic of China Legal Representative: Chen Yisong Contact: Liu Ning Telephone: +86 10 5990 2617 Fax: +86 10 8486 2089 Website: trust.ecitic.com Email: liuning@citictrust.com.cn Joint Lead Underwriter: HSBC Bank (China) Company Limited Registered Address: HSBC Building, Shanghai IFC, 8 Century Avenue, Pudong New District, Shanghai 200120, People s Republic of China Legal Representative: Liao Yijian Contact: Yu Mengjia Telephone: +86 21 3888 3879 Fax: +86 21 2320 8533 Website: http://www.hsbc.com.cn/1/2/ Email: claire.m.j.yu@hsbc.com.cn Joint Lead Underwriter: Industrial and Commercial Bank of China Limiled Registered Address: No.55 Fuxingmennei Street, Xicheng District, Beijing 100140, People s Republic of China Legal Representative: Yi Huiman Contact: Jiang Man Telephone: +86 10 8101 1415 Fax: +86 10 6610 7567 Website: www.icbc.com.cn Email: man.jiang@icbc.com.cn Account Bank: China Construction Bank, Beijing Branch Registered Address: No.4, Building 28, Xuan Wu Men West Street, Xicheng District, Beijing 100053, P.R.China. Legal Representative:Liao Lin Contact: Li Bo, Liu Mengda Telephone: +86 10 6641 4839, +86 10 6641 6157 Fax: +86 10 6360 2608 Website: www.ccb.com Email: libo.bj@ccb.com, liumengda.bj@ccb.com Clearing Systems/ Paying Agent: China Central Depository & Clearing Co.,Ltd Registered Address: No. 10, Jinrong Street, Xicheng District, Beijing 100033, People s Republic of China Legal Representative: Shui Ruqing Telephone: +86 10 8817 0738 Website: www.chinabond.com.cn Servicer/Originator: Volkswagen Finance (China) Co., Ltd Registered Address: Building 3, No. 15 Furong Street Wangjing, Chaoyang District, Beijing 100102, People's Republic of China Contact: ABS Operations Telephone: +86 10 6589 7000 Fax: +86 10 6591 1606 Website: www.volkswagen-finance-china.com.cn Email: ABSOperations.China@vwfsag.com Financial Advisor: The Hongkong and Shanghai Banking Corporation Limited Registered Address: 1 Queen's Road Central, Hong Kong SAR, People's Republic of China Contact: Kyson Ho, Vivian Zhang Telephone: +852 2822 2224 Fax: +852 3409 2599 Website: www.hsbc.com.hk Email: vivian.j.zhang@hsbc.com.hk Domestic Rating Agencies: China Chengxin International Credit Rating Co., Ltd Registered Address: 7/F, Block D, Beijing China Merchants International Financial Center, 156 Fuxingmennei Avenue, Xicheng District, Beijing 100031, People's Republic of China Telephone: +86 10 6642 8877 Email: yli@ccxi.com.cn China Bond Rating Co. Ltd Registered Address: 6/F, Tower 2, Yingtai Center, 28 Financial Street, Xicheng District, Beijing 100032, People's Republic of China Telephnoe: +86 10 8809 0134 Email: qinxiaolin@chinaratings.com.cn International Rating Agencies: Moody s Investors Service Hong Kong Limited Registered Address: 24/F One Pacific Place, 88 Queensway, Admiralty, Hong Kong Telephone: +852 3758 1548 Email: jamie.lo@moodys.com S&P Global Ratings Registered Address: Unit 1 Level 69, International Commerce Centre,1 Austin Road West, Kowloon, Hong Kong Telephone: +86 10 6569 2912 Email: hongshan.chen@spglobal.com Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 4 / 43

Transaction Events (I) Clean-Up Call Condition Percentage of Current Portfolio Min. Percentage of Portfolio 16.18% 10.00% The Clean-Up-Call Condition is planned to be reached in 05.2019 Clean-Up Call VW FC will have the option to exercise a Clean-Up Call and to repurchase the Purchased Loan Receivables from the Issuer at any time when the Aggregate is less than 10 percent. of the Aggregate Cutoff Date provided that all payment obligations under the Notes will be thereby fulfilled. Repurchase of Receivables contracts % of % of Receivables Re-Purchase Price Current Period 0 0.00% 0.00% Previous Periods 0 0.00% 0.00% Total 0 0.00% 0.00% If a repurchase of receivables occurred, it would only result from non-eligibility as of the respective Cut Off Date (which has been discovered at a later stage). Transaction Party Replacements Capacity of Transaction Party Date of Replacement Reason for Replacement Replaced Party Replaced by Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 5 / 43

0.0082% 0.0292% 0.0354% 0.0481% 0.0638% 0.0814% 0.0920% 0.1012% 0.1085% 0.1154% 0.1245% 0.1324% 0.1567% 0.1720% 0.1816% 0.1970% 0.2143% 0.2317% 0.2463% 0.2616% 0.2772% 0.2835% 0.2995% 0.3112% 0.3284% 0.3355% 0.3437% Transaction Events (II) Accumulation account balance 2018/11/30 2018/12/31 Amounts not invested for the purchase of additional assets Percentage not invested for the purchase of additional assets 0.00% 0.00% Credit Enhancement Increase Conditions a) 1.2 per cent. for any Payment Date prior to or during September 2017; b) 1.6 per cent. for any Payment Date from October 2017 but prior to or during May 2018; c) 2.0 per cent. for any Payment Date. No No No Cumulative Gross Loss Amount Gross Loss in Current Period 28 621,204.44 Cumulative Gross Loss 631 26,097,201.64 Cumulative Gross Loss as of the End of the Monthly Period Receivable as of Cutoff-Date Aggregate Additional Cut-Off s Cumulative Gross Loss Ratio as percentage of defaults divided by the Receivable at Pool Cut 26,097,201.64 4,000,021,006.50 3,593,211,977.21 0.3437% in % 2.50% Cumulative Gross Losses in percent of Initial Pool 2.25% 2.00% 1.75% 1.50% 1.25% 1.00% 0.75% 0.50% 0.25% 0.00% Monthly Period Cumulative Gross Loss Ratio Credit Enhancement Condition Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 6 / 43

Transaction Events (III) Account Bank: China Construction Bank Beijing Branch China Chengxin International Credit Rating Co., Ltd China Bond Rating Co. Ltd Moody's Investors Service Hong Kong Limited S&P Global Ratings Rating Rating Long Term Short Term Outlook Long Term Short Term Outlook Current Rating * AAA AAA A1 P-1 Stable A A-1 Stable Minimum required Rating AA- AA - - - - - - If the Account Bank falls under the Required Rating, the Issuer is entitled to close the Accounts and appoint a successor account bank (the "Successor Account Bank") and open new accounts (the "Successor Accounts") at the Successor Account Bank. (Please refer to the Prospectus for a complete description of the mechanism) Required Rating: Fulfilled Servicer: Volkswagen Finance (China) Co., Ltd Required Rating: Fulfilled Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 7 / 43

Information regarding the Notes I Rating at Issue Date Rating Scale Class A Class B China Chengxin International Credit Rating Co., Ltd Local Scale AAA AA China Bond Rating Co. Ltd Local Scale AA+ AA Moody's Investors Services Hong Kong Limited International Scale Aa3(sf) A3(sf) Standard & Poor's Ratings Services International Scale AA(sf) BBB(sf) Current Rating Rating Scale Class A Class B China Chengxin International Credit Rating Co., Ltd Local Scale AAA AA+ China Bond Rating Co. Ltd Local Scale AA+ AA Moody's Investors Services Hong Kong Limited International Scale Aa3(sf) A2(sf) Standard & Poor's Ratings Services International Scale AA(sf) BBB(sf) Information on Notes Class A Class B Legal Maturity Date 2024/9/26 2024/9/26 Scheduled Clean Up Call Date 2019/6/26 2019/6/26 Nominal Amount 100.00 100.00 Information on Interest Class A Class B Interest Rate 3.50% 4.00% Fixed/Floating Fixed Fixed Current Coupon 3.50% 4.00% Day Count Convention actual/365 actual/365 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 8 / 43

Information regarding the Notes II Monthly Period: 2019/01 Payment Date: 2019/2/26 Interest Accrual Period (from/until) 2019/01/26 until 2019/02/26 Days accrued 31 Class A Interest Rate 3.50% Class B Interest Rate 4.00% Day Count Convention actual/365 Interest Payments Class A Class B Total Interest Amount of the Reporting Period 1,743,728.77 284,656.44 Paid Interest 1,743,728.77 284,656.44 Unpaid Interest Class A Class B Unpaid Interest of the Reporting Period Cumulative unpaid Interest Note Class A Class B Note as of Cutoff Date 3,500,000,000.00 150,000,000.00 Note as of the Beginning of the Period 586,600,000.00 83,790,000.00 Redemption Amount per Class 114,800,000.00 Class as of the End of the Period 471,800,000.00 83,790,000.00 Payments to Investors per Note Class A Class B Interest 0.05 0.19 Principal Repayment by note 3.28 Notes 35,000,000 1,500,000 Note Factor 0.1348000 0.5586000 Overcollateralisation Class A Class B Initial OC Percentage at Poolcut 13% 9% Current OC Percentage 27% 14% Target OC Percentage 23% 12% Subordinated Note as of the Beginning of the Period 35,283,684.21 Redemption as of the End of the Period 35,283,684.21 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 9 / 43

Credit Enhancement Credit Enhancement as of Cutoff Date % of Aggregate Value Class B Note 3.75% 150,000,000.00 Subordinated Note 8.25% 330,010,473.56 Overcollateralization 0.50% 20,010,532.94 Cash Collateral Account 1.20% 48,000,000.00 Cash Collateral Account (CCA) in RMB in % of Initial at Poolcut 48,000,000.00 1.200% Targeted (Floor) 40,000,000.00 1.000% Current 40,000,000.00 1.000% Payment from CCA - Payment to CCA - as of the End of the Period 40,000,000.00 1.000% Calculation of Credit Enhancement Initially, Driver China five's Credit Enhancement consists of the respective Note Issue in comparison to the Receivable as of Poolcut, minus any Senior Debt Issuance. This 'Overcollateralisation' is specific for each Note Series and increases with its seniority. Subsequently, the 'Overcollateralisation' is calculated (as an OC Percentage) on a monthly basis, all on end of month figures. Considering the seniority of the respective Note Series, redemption is made until an Overcollateralisation of 23% for Class A (12% for Class B) has been reached. However, if an Enforcement Event causes the transaction to switch into sequential payment mode, the OC Percentages will not determine the maximum redemtion amount and may be exceeded. In addition, there is the Cash Collateral Amount which is in principle to the benefit of all Tranches over the entire lifetime of the transaction. The transaction starts amortising Class A only until its OC Percentage is reached. The transaction switches into pro rata amortisation once an Overcollateralisation Percentage (i.e. Credit Enhancement excluding the Cash Collateral Account) of 25% for the Class A Notes and 14% for the Class B Notes has been reached. The amortisation will switch to sequential in case the Aggregate Receivable falls below 10,00% of the Aggregate Cut-Off Date Receivable, thus redeeming the most senior tranches before any redemtion goes to Junior Debt. Set Off Risk There is no Set Off Risk applicable Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 10 / 43

Waterfall Available Distribution Amount Calculation Payment to waterfall position Remaining Amount Available Collections Amount 117,687,575.08 117,687,575.08 Interest Income 117,687,575.08 Remaining Rounding Amount from previous period 90,995.85 117,778,570.93 Other Income 117,778,570.93 Waterfall Payment to waterfall position Remaining Amount Available Distribution Amount 117,778,570.93 1) Taxes - 147,478.91 117,631,092.02 2) Administrative Expenses - 28,483.84 117,602,608.18 3) Servicer Fee payable to the Servicer - 634,752.84 116,967,855.34 4) Interest Payment Class A Notes - 1,743,728.77 115,224,126.57 5) Interest Payment Class B Notes - 284,656.44 114,939,470.13 6) Payment to cash collateral account 114,939,470.13 7) Payment to accumulation account (revolving period) 114,939,470.13 8) Redemption Class A (amortizing period) - 114,800,000.00 139,470.13 9) Redemption Class B (amortizing period) 139,470.13 Remaining Rounding Amount (Current Period) - 139,470.13 10) Interest Payment Subordinated Notes 11) Subordinated Note Principal Amount 12) Final Success Fee payable to the Originator Distribution of Cash Collateral Account Surplus Payment Amount Remaining Amount Available Distribution Amount Interest Payment Subordinated Notes Subordinated Note Principal Amount Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 11 / 43

Amortisation Profile I Note Class Class A Class B Sub Note WAL At Closing: 1.66 yrs At Currently: 0.2 yrs At Closing: 2.41 yrs At Currently: 0.24 yrs At Closing: 1.83 yrs At Currently: 0.24 yrs Payment Date Actual Note Forecasted Note Forecasted Note Actual Note Actual Note Forecasted Note Poolcut 3,500,000,000.00-150,000,000.00-330,010,473.56-2016/12/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/1/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/2/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/3/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/4/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/5/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/6/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/7/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/8/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/9/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/10/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/11/26 3,500,000,000.00-150,000,000.00-330,010,473.56-2017/12/26 3,151,400,000.00-150,000,000.00-330,010,473.56-2018/1/26 2,813,650,000.00-150,000,000.00-330,010,473.56-2018/2/26 2,496,200,000.00-150,000,000.00-330,010,473.56-2018/3/26 2,266,600,000.00-150,000,000.00-290,734,392.93-2018/4/26 1,914,150,000.00-150,000,000.00-330,010,473.56-2018/5/26 1,748,950,000.00-150,000,000.00-243,603,869.01-2018/6/26 1,550,850,000.00-150,000,000.00-183,677,683.22-2018/7/26 1,373,400,000.00-150,000,000.00-129,356,766.91-2018/8/26 1,209,600,000.00-150,000,000.00-79,929,106.69-2018/9/26 1,062,600,000.00-150,000,000.00-35,383,010.70-2018/10/26 928,550,000.00-132,255,000.00-55,831,842.11-2018/11/26 803,600,000.00-114,780,000.00-48,335,789.47-2018/12/26 690,200,000.00-98,595,000.00-41,515,526.32-2019/1/26 586,600,000.00-83,790,000.00-35,283,684.21-2019/2/26 471,800,000.00-83,790,000.00-35,283,684.21-2019/3/26-386,055,874.17-83,790,000.00-35,283,684.21 2019/4/26-298,160,039.46-83,790,000.00-35,283,684.21 2019/5/26 - - - 2019/6/26 - - - 2019/7/26 - - - 2019/8/26 - - - 2019/9/26 - - - + Based on the following assumptions: CPR of 5% and Clean Up Call at 10% of the oustanding portfolio Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 12 / 43

Amortisation Profile II in RMB 4,000,000,000 3,500,000,000 3,000,000,000 Amortisation Profile Class A-Notes Actual Amort. A-Notes Expected Amort. A-Notes Assuming a Clean-Up Call at 10% of the initial outstanding discounted receivables balance, annual prepayments of 5% and 0% defaults 2,500,000,000 2,000,000,000 1,500,000,000 1,000,000,000 500,000,000 0 Reporting Period in RMB 160,000,000 140,000,000 120,000,000 Amortisation Profile Class B-Notes Actual Amort. B-Notes Expected Amort. B-Notes Assuming a Clean-Up Call at 10% of the initial outstanding discounted receivables balance, annual prepayments of 5% and 0% defaults 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000 0 Reporting Period in RMB 360,000,000 330,000,000 300,000,000 270,000,000 240,000,000 210,000,000 180,000,000 150,000,000 120,000,000 90,000,000 60,000,000 30,000,000 0 Amortisation Profile Sub-Notes Actual Amort. Sub-Notes Expected Amort. Sub-Notes Assuming a Clean-Up Call at 10% of the initial outstanding discounted receivables balance, annual prepayments of 5% and 0% defaults Reporting Period Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 13 / 43

Run Out Schedule I Payment Date Remaining Interest Remaining Capital Remaining Instalments arrears 313,945.03 1,373,228.49 1,687,173.52 02/2019 2,909,856.18 94,312,998.65 113,313,119.12 03/2019 2,485,015.81 87,562,372.29 97,973,421.10 04/2019 2,090,583.55 79,420,638.39 90,656,459.74 05/2019 1,732,827.02 70,463,130.74 82,109,639.16 06/2019 1,415,420.06 58,105,497.46 72,707,395.13 07/2019 1,153,678.81 48,287,346.15 59,849,175.64 08/2019 936,165.25 39,148,674.53 49,697,136.72 09/2019 759,817.10 31,659,012.58 40,302,093.66 10/2019 617,206.56 28,107,100.46 32,598,372.16 11/2019 490,595.79 23,248,819.40 28,879,904.66 12/2019 385,869.37 20,788,198.89 23,868,894.26 01/2020 292,227.11 16,641,162.28 21,290,681.01 02/2020 217,265.00 12,308,869.09 17,118,814.62 03/2020 161,819.14 11,175,686.81 12,603,928.25 04/2020 111,477.34 9,011,217.67 11,397,615.01 05/2020 70,885.67 6,441,996.81 9,167,490.34 06/2020 41,867.03 4,081,614.55 6,550,429.07 07/2020 23,480.98 2,366,717.60 4,144,718.96 08/2020 12,819.80 621,746.42 2,404,799.14 09/2020 10,019.11 255,188.59 641,367.12 10/2020 8,869.59 222,905.87 269,422.45 11/2020 7,865.45 215,331.27 234,054.86 12/2020 6,895.51 208,001.14 223,196.72 01/2021 5,958.54 202,794.06 214,896.65 02/2021 5,045.03 177,090.57 208,752.60 03/2021 4,247.33 154,739.58 182,135.60 04/2021 3,550.25 118,495.63 158,986.91 05/2021 3,016.46 117,362.95 122,045.88 06/2021 2,487.82 99,550.20 120,379.41 07/2021 2,039.37 89,156.60 102,038.02 08/2021 1,637.79 69,750.13 91,195.97 09/2021 1,323.59 59,185.20 71,387.92 10/2021 1,056.98 45,582.20 60,508.79 11/2021 851.66 42,961.49 46,639.18 12/2021 658.13 32,456.12 43,813.15 01/2022 511.91 27,140.32 33,114.25 02/2022 389.67 24,240.62 27,652.23 03/2022 280.47 19,621.44 24,630.29 04/2022 192.08 12,536.61 19,901.91 05/2022 135.62 12,593.07 12,728.69 06/2022 78.89 11,094.92 12,728.69 07/2022 28.91 6,418.79 11,173.81 Total 16,289,962.76 647,350,226.63 781,254,012.37 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 14 / 43

Run Out Schedule II in RMB 4,500,000,000 4,000,000,000 Expected Amortisation of the Asset-Portfolio The expected Portfolio amortisation is solely based on the scheduled payments according to rental plan, no assumptions on prepayments or defaults are made. 3,500,000,000 3,000,000,000 2,500,000,000 2,000,000,000 1,500,000,000 1,000,000,000 500,000,000 Reporting Period 0 Expected Disocunted Asset-Portfolio Actual Asset-Portfolio Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 15 / 43

Overview Collections by Source Collections Paid instalments 112,976,042.78 Early settlements 4,276,632.46 Penalty interest 6,262.33 Fee components 226,490.26 Collection for write-off loans 202,147.25 Total 117,687,575.08 Collections by Status Collections Current 97,162,546.13 Matured 15,586,881.54 Delinquent 159,065.65 Default - 59,564.61 Write off 202,147.25 Partial Prepayment Full prepayment 4,636,499.12 Prolonged New Total 117,687,575.08 Customer Type Total Portfolio as of Pool Cut Date Credit Type Vehicle Status Classic Credit Used Car Classic Credit Balloon Credit Exquisite easy loan Enjoyable balance loan Corporate Individual New Vehicle Used Vehicle Contract Status Development Current 71,248 4,000,021,006.50 70534 3,929,570,418.41 496 42,448,414.34 3 1,163,013.38 208 26,463,364.76 7 375,795.61 2167 153,675,883.88 69081 3,846,345,122.62 70752 3,957,572,592.16 496 42,448,414.34 Matured 0 0 0 0 0 0 0 0 0 0 Delinquent 0 0 0 0 0 0 0 0 0 0 Default 0 0 0 0 0 0 0 0 0 0 Write off 0 0 0 0 0 0 0 0 0 0 Partial Prepayment 0 0 0 0 0 0 0 0 0 0 Full prepayment 0 0 0 0 0 0 0 0 0 0 Prolonged 0 0 0 0 0 0 0 0 0 0 New 0 0 0 0 0 0 0 0 0 0 Total 71,248 4,000,021,006.50 70,534 3,929,570,418.41 496 42,448,414.34 3 1,163,013.38 208 26,463,364.76 7 375,795.61 2,167 153,675,883.88 69,081 3,846,345,122.62 70,752 3,957,572,592.16 496 42,448,414.34 Customer Type Total Portfolio as of Current Reporting Period Credit Type Vehicle Status Classic Credit Used Car Classic Credit Balloon Credit Exquisite easy loan Enjoyable balance loan Corporate Individual New Vehicle Used Vehicle Contract Status Development Current 37,521 642,708,593.67 37167 616,035,891.13 158 4,221,665.30 1 212,791.46 195 22,238,245.78 0 960 21,637,146.46 36561 621,071,447.21 37363 638,486,928.37 158 4,221,665.30 Matured 85,175 134,453.51 84,402 134,453.51 535 4 225 9 2,622 82,553 134,453.51 84,640 134,453.51 535 Delinquent 156 3,861,165.95 154 3,647,604.85 0 0 2 213,561.10 0 18 235,375.71 138 3,625,790.24 156 3,861,165.95 0 Default 31 645,359.49 30 638,555.36 1 6,804.13 0 0 0 10 88,683.82 21 556,675.67 30 638,555.36 1 6,804.13 Write off 494 485 8 0 1 0 33 461 486 8 Partial Prepayment 0 0 0 0 0 0 0 0 0 0 Full prepayment 11,292 654.01 11059 654.01 205 1 25 2 342 518.74 10950 135.27 11087 654.01 205 Prolonged 0 0 0 0 0 0 0 0 0 0 New 0 0 0 0 0 0 0 0 0 0 Total 134,669 647,350,226.63 133,297 620,457,158.86 907 4,228,469.43 6 212,791.46 448 22,451,806.88 11 3,985 21,961,724.73 130,684 625,388,501.90 133,762 643,121,757.20 907 4,228,469.43 Contract status development Contract status as of the end of the Current period Current Matured Delinquent Default Write off Partial Prepayment Full prepayment Prolonged New Contract status as of the beginning of the Receivable Receivable Receivable Receivable Receivable Receivable Receivable Loan Loan period 4 Current 37,521 642,708,593.67 37,405 640,441,214.55 0 116 2,267,379.12 0 0 0 0 0 0 Matured 85,175 134,453.51 4,500 80,631 134,453.51 41 3 0 0 0 0 0 Delinquent 156 3,861,165.95 88 1,983,293.10 0 68 1,877,872.85 0 0 0 0 0 0 Default 31 645,359.49 6 291,514.36 0 22 329,690.08 3 24,155.05 0 0 0 0 0 Write off 494 0 0 0 19 475 0 0 0 0 Partial Prepayment 0 0 0 0 0 0 0 0 0 0 Full prepayment 11,292 654.01 266 0 2 0 0 0 11024 654.01 0 0 Prolonged 0 0 0 0 0 0 0 0 0 0 New 0 0 0 0 0 0 0 0 0 0 Total 134,669 647,350,226.63 42,265 642,716,022.01 80,631 134,453.51 249 4,474,942.05 25 24,155.05 475 0 11,024 654.01 0 0 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 16 / 43

Delinquencies Days in Arrears Total Portfolio (%) Receivables Receivables (%) 2 3 4 5 6 7 Customer Credit Type Type Vehicle Status Balloon Credit Used Car Classic Credit Exquisite easy loan Classic Credit Enjoyable balance loan Corporate Individual New Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables <= 30 112 0.08% 2,764,549.58 0.42% 110 2,550,988.48 0 0 2 213,561.10 0 9 121,400.03 103 2,643,149.55 112 2,764,549.58 0 > 30 and <= 60 26 0.02% 732,448.55 0.11% 26 732,448.55 0 0 0 0 8 106,100.22 18 626,348.33 26 732,448.55 0 > 60 and <= 90 17 0.01% 357,682.35 0.05% 17 357,682.35 0 0 0 0 1 7,875.46 16 349,806.89 17 357,682.35 0 > 90 and <= 120 1 0.00% 6,485.47 0.00% 1 6,485.47 0 0 0 0 0 1 6,485.47 1 6,485.47 0 > 120 and <= 150 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 150 and <= 180 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 >180 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 Total 156 0.12% 3,861,165.95 0.58% 154 3,647,604.85 0 0 2 213,561.10 0 18 235,375.71 138 3,625,790.24 156 3,861,165.95 0 Used 50,000,000 Delinquencies - of delinquent contracts 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 10/2016 11/2016 12/2016 01/2017 02/2017 03/2017 04/2017 05/2017 06/2017 07/2017 08/2017 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 10/2018 11/2018 12/2018 01/2019 02/2019 03/2019 04/2019 05/2019 06/2019 07/2019 08/2019 09/2019 10/2019 Period <= 30 > 30 and <= 60 > 60 and <= 90 > 90 and <= 120 > 120 and <= 150 > 150 and <= 180 >180 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 17 / 43

Defaults Total Portfolio Credit Type Customer Type Vehicle Status Classic Credit Enjoyable balance loan Corporate Individual Used Car Classic Credit Balloon Credit Exquisite easy loan New Used Days in Arrears (%) (%) Receivables <= 30 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 30 and <= 60 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 60 and <= 90 1 0.00% 9,947.10 0.00% 28 628,607.72 1 6,804.13 0 0 0 10 88,683.82 19 546,728.03 28 628,607.72 1 6,804.13 > 90 and <= 120 29 0.02% 635,411.85 0.10% 1 9,947.10 0 0 0 0 0 1 9,947.10 1 9,947.10 0 > 120 and <= 150 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 150 and <= 180 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 >180 1 0.00% 0.54 0.00% 1 0.54 0 0 0 0 0 1 0.54 1 0.54 0 Total 31 0.02% 645,359.49 0.10% 30 638,555.36 1 6,804.13 0 0 0 10 88,683.82 21 556,675.67 30 638,555.36 1 6,804.13 6,000,000 Defaults - of default contracts 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 10/2016 11/2016 12/2016 01/2017 02/2017 03/2017 04/2017 05/2017 06/2017 07/2017 08/2017 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 10/2018 11/2018 12/2018 01/2019 02/2019 03/2019 04/2019 05/2019 06/2019 07/2019 08/2019 09/2019 10/2019 Period <= 30 > 30 and <= 60 > 60 and <= 90 > 90 and <= 120 > 120 and <= 150 > 150 and <= 180 >180 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 18 / 43

Information Date: 09.12.2016 Period: 11.2016 / Period No. 1 Delinquencies&Default Credit Type Customer Type Vehicle Status Total Portfolio Classic Credit Used Car Classic Credit Balloon Credit Exquisite easy loan Enjoyable balance loan Corporate Individual New Used Days in Arrears (%) (%) Receivables <= 30 112 0.08% 2,764,549.58 0.42% 110 2,550,988.48 0 0 2 213,561.10 0 9 121,400.03 103 2,643,149.55 112 2,764,549.58 0 > 30 and <= 60 26 0.02% 732,448.55 0.11% 26 732,448.55 0 0 0 0 8 106,100.22 18 626,348.33 26 732,448.55 0 > 60 and <= 90 18 0.01% 367,629.45 0.06% 45 986,290.07 1 6,804.13 0 0 0 11 96,559.28 35 896,534.92 45 986,290.07 1 6,804.13 > 90 and <= 120 30 0.02% 641,897.32 0.10% 2 16,432.57 0 0 0 0 0 2 16,432.57 2 16,432.57 0 > 120 and <= 150 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 150 and <= 180 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 >180 1 0.00% 0.54 0.00% 1 0.54 0 0 0 0 0 1 0.54 1 0.54 0 Total 187 0.14% 4,506,525.44 0.68% 184 4,286,160.21 1 6,804.13 0 2 213,561.10 0 28 324,059.53 159 4,182,465.91 186 4,499,721.31 1 6,804.13 50,000,000 Delinquencies&Default - discounted receivables balance of Delinquencies&Default contracts 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 10/2016 11/2016 12/2016 01/2017 02/2017 03/2017 04/2017 05/2017 06/2017 07/2017 08/2017 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 10/2018 11/2018 12/2018 01/2019 02/2019 03/2019 04/2019 05/2019 06/2019 07/2019 08/2019 09/2019 10/2019 Period <= 30 > 30 and <= 60 > 60 and <= 90 > 90 and <= 120 > 120 and <= 150 > 150 and <= 180 >180

Defaults & Recoveries Credit Type Vehicle Status Nominal Principal at Day of Default* at Day of Default* Total Recoveries Total Write Offs Nominal Principal End of Reporting Period* Receivables End of Reporting Period* Classic Credit New 30 654,749.17 644,798.52 648,249.17 638,555.36 Used 0 Subtotal 30 654,749.17 644,798.52 648,249.17 638,555.36 Used Car Classic Credit New 0 Used 1 6,898.84 6,804.13 6,898.84 6,804.13 Subtotal 1 6,898.84 6,804.13 6,898.84 6,804.13 Balloon Credit New 0 Used 0 Subtotal 0 Exquisite easy loan New 0 Used 0 Subtotal 0 Enjoyable balance loan New 0 Used 0 Subtotal 0 Total 31 661,648.01 651,602.65 655,148.01 645,359.49 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 20 / 43

Cumulative Gross Loss Default of the Monthly Period Credit Type Type of Car Amount Classic Credit New 27 614,400.31 Used 0 Subtotal 27 614,400.31 Used Car Classic Credit New 1 6,804.13 Used 0 Subtotal 1 6,804.13 Balloon Credit New 0 Used 0 Subtotal 0 Exquisite easy loan New 0 Used 0 Subtotal 0 Enjoyable balance loan New 0 Used 0 Subtotal 0 Total 28 621,204.44 Spalte1 Spalte2 Spalte3 Spalte3 Spalte5 Cumulative Gross Loss as of the End of the Monthly Period 631 Receivable as of Cut-Off-Date 4,000,021,006.50 Aggregate Additional Cut-Off s Cumulative Gross Loss Ratio 3,593,211,977.21 0.3437% Current Period Cumulative Gross Loss Monthly Period Gross Loss Gross Loss 11/2016 5 345,678.92 5 345,678.92 12/2016 16 965,233.97 21 1,310,912.89 01/2017 7 367,014.96 28 1,677,927.85 02/2017 12 735,877.03 40 2,413,804.88 03/2017 22 977,443.91 62 3,391,248.79 04/2017 21 1,177,814.04 83 4,569,062.83 05/2017 15 887,358.45 98 5,456,421.28 06/2017 13 864,808.33 111 6,321,229.61 07/2017 15 815,941.83 126 7,137,171.44 08/2017 27 835,219.92 153 7,972,391.36 09/2017 25 1,053,519.65 178 9,025,911.01 10/2017 22 1,030,739.64 200 10,056,650.65 11/2017 38 1,840,826.99 238 11,897,477.64 12/2017 33 1,162,471.35 271 13,059,948.99 01/2018 16 729,887.72 287 13,789,836.71 02/2018 13 1,171,528.38 300 14,961,365.09 03/2018 25 1,312,077.11 325 16,273,442.20 04/2018 29 1,317,338.54 354 17,590,780.74 05/2018 34 1,113,483.12 388 18,704,263.86 06/2018 29 1,157,490.68 417 19,861,754.54 07/2018 39 1,184,601.72 456 21,046,356.26 08/2018 23 477,795.84 479 21,524,152.10 09/2018 40 1,221,094.04 519 22,745,246.14 10/2018 28 883,337.99 547 23,628,584.13 11/2018 36 1,310,944.37 583 24,939,528.50 12/2018 20 536,468.70 603 25,475,997.20 01/2019 28 621,204.44 631 26,097,201.64 Total 631 26,097,201.64 631 26,097,201.64 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 21 / 43

Prepayments Reporting period Unscheduled balance as of Annualised Periodic CPR payments previous period CPR Poolcut - 0.00 0.0000% 0.0000% 2016/11/30 16,916,818.34 4,000,021,006.50 0.4229% 4.9586% 2016/12/31 15,047,530.99 4,011,649,071.51 0.3751% 4.4094% 2017/1/31 8,876,217.30 4,019,423,097.55 0.2208% 2.6180% 2017/2/28 10,980,821.13 4,027,430,806.13 0.2727% 3.2232% 2017/3/31 20,836,341.84 4,036,910,068.09 0.5161% 6.0209% 2017/4/30 12,871,539.32 4,045,924,960.23 0.3181% 3.7515% 2017/5/31 17,023,636.18 4,055,090,622.34 0.4198% 4.9230% 2017/6/30 17,187,923.58 4,063,937,102.61 0.4229% 4.9588% 2017/7/31 17,116,546.47 4,074,277,149.43 0.4201% 4.9265% 2017/8/31 20,696,208.23 4,083,024,403.79 0.5069% 5.9159% 2017/9/30 16,771,956.88 4,092,335,027.79 0.4098% 4.8087% 2017/10/31 13,754,792.77 4,102,230,799.38 0.3353% 3.9502% 2017/11/30 17,965,785.28 4,111,835,028.63 0.4369% 5.1190% 2017/12/31 18,388,048.59 3,767,599,363.00 0.4881% 5.7020% 2018/1/31 16,351,988.45 3,433,775,801.91 0.4762% 5.5672% 2018/2/28 6,581,426.00 3,119,704,285.42 0.2110% 2.5024% 2018/3/31 16,967,172.16 2,832,906,217.81 0.5989% 6.9551% 2018/4/30 15,150,334.47 2,543,814,216.77 0.5956% 6.9174% 2018/5/31 15,184,236.73 2,271,030,447.78 0.6686% 7.7347% 2018/6/30 10,584,665.81 2,013,646,350.50 0.5256% 6.1286% 2018/7/31 11,920,787.13 1,783,313,151.58 0.6685% 7.7331% 2018/8/31 9,935,757.78 1,570,561,378.00 0.6326% 7.3328% 2018/9/30 8,985,391.01 1,379,884,178.83 0.6512% 7.5402% 2018/10/31 7,895,715.79 1,205,455,077.63 0.6550% 7.5829% 2018/11/30 7,636,315.51 1,043,416,332.59 0.7319% 8.4373% 2018/12/31 6,383,164.95 896,216,853.33 0.7122% 8.2198% 2019/1/31 4,488,882.19 860,863,182.41 0.5893% 6.8471%

Down Payment Credit Type Customer Type Vehicle Status Total Portfolio Classic Credit Used Car Classic Credit Balloon Credit Exquisite easy loan Enjoyable balance loan Corporate Individual New Used Down Down Down Down Payment/ Down Payment/ Down Payment/ Percentage Percentage Down Payment/ Down Payment/ Down Payment/ Down Payment/ Payment/ Payment/ Payment/ Down Payment Purchase Price Purchase Price in Purchase Price in of Loans Receivables of Receivables Purchase Price in % Receivables Purchase Price in % Receivables Purchase Price in % Purchase Price in % Receivables Receivables Receivables Purchase Receivables Purchase Receivables Purchase in % % % Price in % Price in % Price in % > 0 and <= 30,000 6,802 18.04% 62,033,405.03 9.56% 32.05% 6,779 61,657,535.84 32.04% 23 375,869.19 34.40% 0 0.00% 0 0.00% 0 0.00% 542 5,251,598.15 32.41% 6,260 56,781,806.88 32.02% 6,779 61,657,535.84 32.04% 23 375,869.19 34.40% > 30,000 and <= 60,000 15,059 39.94% 217,518,270.23 33.61% 38.77% 14,989 215,126,504.38 38.78% 49 1,030,398.84 40.95% 0 0.00% 21 1,361,367.01 30.41% 0 0.00% 209 2,863,660.59 38.03% 14,850 214,654,609.64 38.78% 15,010 216,487,871.39 38.76% 49 1,030,398.84 40.95% > 60,000 and <= 90,000 9,294 24.65% 165,050,568.30 25.50% 45.77% 9,165 154,960,786.86 46.01% 36 778,808.59 46.17% 0 0.00% 93 9,310,972.85 30.24% 0 0.00% 61 1,960,064.86 35.21% 9,233 163,090,503.44 45.86% 9,258 164,271,759.71 45.77% 36 778,808.59 46.17% > 90,000 and <= 120,000 3,617 9.59% 98,052,412.48 15.15% 45.36% 3,549 90,731,560.29 45.64% 17 426,370.80 49.26% 0 0.00% 51 6,894,481.39 31.05% 0 0.00% 67 3,020,938.68 34.10% 3,550 95,031,473.80 45.65% 3,600 97,626,041.68 45.34% 17 426,370.80 49.26% > 120,000 and <= 150,000 1,570 4.16% 35,376,220.47 5.47% 52.93% 1,550 33,543,463.05 53.10% 7 206,294.80 50.93% 0 0.00% 13 1,626,462.62 39.07% 0 0.00% 28 1,104,844.10 43.78% 1,542 34,271,376.37 53.13% 1,563 35,169,925.67 52.94% 7 206,294.80 50.93% > 150,000 and <= 180,000 521 1.38% 20,646,940.63 3.19% 50.26% 499 18,368,712.87 50.61% 9 266,088.97 52.89% 0 0.00% 13 2,012,138.79 38.42% 0 0.00% 18 2,146,216.59 32.17% 503 18,500,724.04 51.31% 512 20,380,851.66 50.21% 9 266,088.97 52.89% > 180,000 and <= 210,000 402 1.07% 22,490,080.32 3.47% 42.66% 392 21,302,611.87 42.60% 5 224,518.12 50.08% 0 0.00% 5 962,950.33 41.00% 0 0.00% 25 2,847,722.34 30.92% 377 19,642,357.98 43.75% 397 22,265,562.20 42.58% 5 224,518.12 50.08% >210,000 and <= 240,000 211 0.56% 10,096,724.34 1.56% 46.74% 205 9,601,448.01 46.76% 5 211,842.44 51.83% 0 0.00% 1 283,433.89 30.00% 0 0.00% 17 1,358,329.13 36.65% 194 8,738,395.21 47.90% 206 9,884,881.90 46.63% 5 211,842.44 51.83% >240,000 and <= 270,000 69 0.18% 4,589,848.12 0.71% 46.41% 67 4,381,668.13 46.35% 2 208,179.99 48.82% 0 0.00% 0 0.00% 0 0.00% 5 364,196.78 41.58% 64 4,225,651.34 46.85% 67 4,381,668.13 46.35% 2 208,179.99 48.82% >270,000 and <= 300,000 44 0.12% 2,855,186.26 0.44% 42.97% 43 2,740,779.28 42.72% 1 114,406.98 58.33% 0 0.00% 0 0.00% 0 0.00% 5 201,277.29 41.10% 39 2,653,908.97 43.23% 43 2,740,779.28 42.72% 1 114,406.98 58.33% >300,000 119 0.32% 8,640,570.45 1.34% 46.97% 113 8,042,088.28 46.90% 5 385,690.71 54.69% 1 212,791.46 30.02% 0 0.00% 0 0.00% 11 842,357.48 40.46% 108 7,798,212.97 47.90% 114 8,254,879.74 46.69% 5 385,690.71 54.69% Total 37,708 100.00% 647,350,226.63 100.00% 0.00% 37,351 620,457,158.86 0.00% 159 4,228,469.43 0.00% 1 212,791.46 0.00% 197 22,451,806.88 0.00% 0 0.00% 988 21,961,205.99 0.00% 36,720 625,389,020.64 0.00% 37,549 643,121,757.20 0.00% 159 4,228,469.43 0.00% Minimum Down Payment Maximum Down Payment Average Down Payment Type of Payment Statistics Down Payments 10,095.00 2,375,000.00 88,017.69 Credit Type Customer Type Vehicle Status Total Portfolio Used Car Classic Credit Balloon Credit Exquisite easy loan Corporate Individual Classic Credit Enjoyable balance loan New Used Percentage Percentage Type of Payment Loans of Loans Receivables of Receivables Receivables Receivables Receivables Receivables Receivables Receivables Direct Debit 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Others 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 Total 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 23 / 43

Distribution of Loan per Borrower Contract Concentration Customers Percentage of Customers Loans Percentage of Loans Percentage of 1 41,906 99.59% 41,906 98.51% 755,336,672.17 99.16% 2 79 0.19% 158 0.37% 1,978,253.08 0.26% 3 34 0.08% 102 0.24% 855,290.08 0.11% 4 13 0.03% 52 0.12% 474,775.89 0.06% 5 19 0.05% 95 0.22% 828,692.70 0.11% 6-10 24 0.06% 182 0.43% 1,797,125.87 0.24% > 10 3 0.01% 44 0.10% 432,604.02 0.06% Total 42,078 100.00% 42,539 100.00% 761,703,413.81 100.00% Top 20 Borrower Number Receivables Percentage of 1 1,179,702.99 0.15% 1 2 587,122.30 0.08% 1 3 435,957.92 0.06% 1 4 362,009.57 0.05% 1 5 347,629.64 0.05% 1 6 319,850.71 0.04% 1 7 316,307.12 0.04% 1 8 308,320.94 0.04% 1 9 302,507.20 0.04% 1 10 292,206.17 0.04% 1 11 279,232.18 0.04% 1 12 267,419.52 0.04% 1 13 264,345.94 0.03% 1 14 264,009.56 0.03% 1 15 258,239.14 0.03% 1 16 256,716.46 0.03% 1 17 245,140.68 0.03% 1 18 243,908.77 0.03% 9 19 243,088.01 0.03% 1 20 242,195.22 0.03% 1 Total 7,015,910.04 0.92% 28 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 24 / 43

Distribution by Total Portfolio Credit Type Customer Type Vehicle Status Used Car Classic Credit Balloon Credit Exquisite easy loan Classic Credit Enjoyable balance loan Corporate Individual New Distribution by Percentage Percentage of Receivables Loans of Loans Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables >= 0 and <= 50,000 9,706 25.74% 78,532,333.90 12.11% 9,667 78,150,776.30 39 381,557.60 0 0 0 545 4,511,196.76 9,161 74,021,137.14 9,667 78,150,776.30 39 381,557.60 >50,000 and <= 100,000 20,121 53.36% 272,674,936.03 42.13% 20,059 271,499,399.19 60 1,086,833.70 0 2 88,703.14 0 183 2,678,958.79 19,938 269,995,977.24 20,061 271,588,102.33 60 1,086,833.70 >100,000 and <= 150,000 4,984 13.22% 125,800,361.92 19.44% 4,915 121,943,666.18 31 998,300.52 0 38 2,858,395.22 0 107 2,656,668.28 4,877 123,143,693.64 4,953 124,802,061.40 31 998,300.52 >150,000 and <= 200,000 1,453 3.85% 62,438,717.16 9.65% 1,349 52,407,884.13 15 705,825.38 0 89 9,325,007.65 0 26 981,166.63 1,427 61,457,550.53 1,438 61,732,891.78 15 705,825.38 >200,000 and <= 250,000 727 1.93% 45,155,425.23 6.98% 676 39,075,895.01 10 679,836.47 0 41 5,399,693.75 0 34 1,696,088.49 693 43,459,336.74 717 44,475,588.76 10 679,836.47 >250,000 and <= 300,000 271 0.72% 17,952,291.79 2.77% 254 15,473,771.92 2 176,623.09 0 15 2,301,896.78 0 24 1,821,095.41 247 16,131,196.38 269 17,775,668.70 2 176,623.09 >300,000 and <= 350,000 57 0.15% 4,978,646.78 0.77% 53 4,316,516.23 0 0 4 662,130.55 0 5 329,035.18 52 4,649,611.60 57 4,978,646.78 0 >350,000 and <= 400,000 75 0.20% 7,001,882.27 1.08% 70 6,218,983.05 1 57,724.39 0 4 725,174.83 0 13 1,675,705.11 62 5,326,177.16 74 6,944,157.88 1 57,724.39 >400,000 and <= 450,000 156 0.41% 15,143,337.01 2.34% 154 14,647,740.50 0 0 2 495,596.51 0 25 2,776,797.91 131 12,366,539.10 156 15,143,337.01 0 >450,000 and <= 500,000 78 0.21% 8,170,501.70 1.26% 76 7,716,958.86 1 141,768.28 0 1 311,774.56 0 12 1,325,801.11 66 6,844,700.59 77 8,028,733.42 1 141,768.28 >500,000 80 0.21% 9,501,792.84 1.47% 78 9,005,567.49 0 1 212,791.46 1 283,433.89 0 14 1,508,692.32 66 7,993,100.52 80 9,501,792.84 0 Total 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Used Statistics Minimum Maximum Average 1,112,775.72 17,163.87 Distribution by Original Principal Credit Type Customer Type Vehicle Status Total Portfolio Classic Credit Used Car Classic Credit Balloon Credit Exquisite easy loan Enjoyable balance loan Corporate Individual New Used Distribution by Original Percentage Percentage of Principal Loans of Loans Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables >= 0 and <= 50k 9,706 25.74% 78,532,333.90 12.11% 9,667 78,150,776.30 39 381,557.60 0 0 0 545 4,511,196.76 9,161 74,021,137.14 9,667 78,150,776.30 39 381,557.60 >50k and <= 100k 20,121 53.36% 272,674,936.03 42.13% 20,059 271,499,399.19 60 1,086,833.70 0 2 88,703.14 0 183 2,678,958.79 19,938 269,995,977.24 20,061 271,588,102.33 60 1,086,833.70 >100k and <= 150k 4,984 13.22% 125,800,361.92 19.44% 4,915 121,943,666.18 31 998,300.52 0 38 2,858,395.22 0 107 2,656,668.28 4,877 123,143,693.64 4,953 124,802,061.40 31 998,300.52 >150k and <= 200k 1,453 3.85% 62,438,717.16 9.65% 1,349 52,407,884.13 15 705,825.38 0 89 9,325,007.65 0 26 981,166.63 1,427 61,457,550.53 1,438 61,732,891.78 15 705,825.38 >200k and <= 250k 727 1.93% 45,155,425.23 6.98% 676 39,075,895.01 10 679,836.47 0 41 5,399,693.75 0 34 1,696,088.49 693 43,459,336.74 717 44,475,588.76 10 679,836.47 >250k and <= 300k 271 0.72% 17,952,291.79 2.77% 254 15,473,771.92 2 176,623.09 0 15 2,301,896.78 0 24 1,821,095.41 247 16,131,196.38 269 17,775,668.70 2 176,623.09 >300k and <= 350k 57 0.15% 4,978,646.78 0.77% 53 4,316,516.23 0 0 4 662,130.55 0 5 329,035.18 52 4,649,611.60 57 4,978,646.78 0 >350k and <= 400k 75 0.20% 7,001,882.27 1.08% 70 6,218,983.05 1 57,724.39 0 4 725,174.83 0 13 1,675,705.11 62 5,326,177.16 74 6,944,157.88 1 57,724.39 >400k and <= 450k 156 0.41% 15,143,337.01 2.34% 154 14,647,740.50 0 0 2 495,596.51 0 25 2,776,797.91 131 12,366,539.10 156 15,143,337.01 0 >450k and <= 500k 78 0.21% 8,170,501.70 1.26% 76 7,716,958.86 1 141,768.28 0 1 311,774.56 0 12 1,325,801.11 66 6,844,700.59 77 8,028,733.42 1 141,768.28 >500k 80 0.21% 9,501,792.84 1.47% 78 9,005,567.49 0 1 212,791.46 1 283,433.89 0 14 1,508,692.32 66 7,993,100.52 80 9,501,792.84 0 Total 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Minimum Original Principal Maximum Original Principal Average Original Principal Statistics 19,900.00 2,375,000.00 138,203.93 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 25 / 43

Effective Interest Rate Total Portfolio Credit Type Customer Type Vehicle Status Used Car Classic Credit Balloon Credit Exquisite easy loan Classic Credit Enjoyable balance loan Corporate Individual New Used Interest Rate paid by the Percentage Percentage Receivable Debtor Loans of Loans Receivables of Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables 0.00% 24,457 64.86% 281,953,792.73 43.54% 24,441 281,567,092.39 15 304,088.98 0 1 82,611.36 0 555 5,491,877.37 23,902 276,461,915.36 24,442 281,649,703.75 15 304,088.98 > 0.00% and <= 5.00% 9,169 24.32% 234,775,152.19 36.27% 9,001 217,251,512.81 15 318,638.61 1 212,791.46 152 16,992,209.31 0 195 9,593,509.67 8,974 225,181,642.52 9,154 234,456,513.58 15 318,638.61 > 5.00% and <= 6.00% 1,696 4.50% 86,182,365.80 13.32% 1,660 81,333,351.05 1 9,273.20 0 35 4,839,741.55 0 47 3,845,433.78 1,649 82,336,932.02 1,695 86,173,092.60 1 9,273.20 > 6.00% and <= 7.00% 1,423 3.77% 24,558,821.24 3.79% 1,421 24,518,388.15 2 40,433.09 0 0 0 25 321,524.02 1,398 24,237,297.22 1,421 24,518,388.15 2 40,433.09 > 7.00% and <= 8.00% 109 0.29% 2,004,162.62 0.31% 106 1,786,997.99 3 217,164.63 0 0 0 32 557,679.25 77 1,446,483.37 106 1,786,997.99 3 217,164.63 > 8.00% and <= 9.00% 51 0.14% 2,316,655.63 0.36% 49 2,204,447.68 2 112,207.95 0 0 0 0 51 2,316,655.63 49 2,204,447.68 2 112,207.95 > 9.00% and <= 10.00% 95 0.25% 3,082,405.96 0.48% 94 3,075,014.94 1 7,391.02 0 0 0 5 42,438.76 90 3,039,967.20 94 3,075,014.94 1 7,391.02 > 10.00% and <= 11.00% 204 0.54% 1,308,265.05 0.20% 204 1,308,265.05 0 0 0 0 12 159,865.32 192 1,148,399.73 204 1,308,265.05 0 > 11.00% and <= 12.00% 462 1.23% 9,795,444.95 1.51% 342 6,576,173.00 120 3,219,271.95 0 0 0 115 1,902,419.52 347 7,893,025.43 342 6,576,173.00 120 3,219,271.95 > 12.00% and <= 13.00% 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 13.00% and <= 14.00% 42 0.11% 1,373,160.46 0.21% 33 835,915.80 0 0 9 537,244.66 0 2 46,458.30 40 1,326,702.16 42 1,373,160.46 0 > 14.00% and <= 15.00% 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 15.00% and <= 16.00% 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 >16% 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 Total 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Statistics Interest Rate Minimum Effective Interest Rate Maximum Effective Interest Rate Weighted Average Effective Interest Rate 0.00% 13.18% 2.76% Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 26 / 43

Distribution by Original Term Total Portfolio Credit Type Customer Type Vehicle Status Used Car Classic Credit Balloon Credit Exquisite easy loan Classic Credit Enjoyable balance loan Corporate Individual New Length of Original Percentage Percentage Term (months) Loans of Loans Receivables of Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables <= 12 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 12 and <= 24 7,145 18.95% 74,440,164.23 11.48% 7,127 74,105,774.33 18 334,389.90 0 0 0 208 2,274,300.35 6,937 72,165,863.88 7,127 74,105,774.33 18 334,389.90 > 24 and <= 36 30,223 80.15% 559,675,649.71 86.47% 29,893 533,654,216.50 141 3,894,079.53 1 212,791.46 188 21,914,562.22 0 777 19,470,339.62 29,446 540,205,310.09 30,082 555,781,570.18 141 3,894,079.53 > 36 and <= 48 130 0.34% 6,059,775.49 0.94% 121 5,522,530.83 0 0 9 537,244.66 0 0 130 6,059,775.49 130 6,059,775.49 0 > 48 and <= 60 210 0.56% 7,174,637.20 1.11% 210 7,174,637.20 0 0 0 0 3 216,566.02 207 6,958,071.18 210 7,174,637.20 0 Total 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Used Statistics Original Term Minimum Original Term in months Maximum Original Term in months Weighted Average Original Term in months 18 60 35 Distribution by Remaining Term Credit Type Customer Type Vehicle Status Total Portfolio Classic Credit Used Car Classic Credit Balloon Credit Exquisite easy loan Enjoyable balance loan Corporate Individual New Used Length of Remaining Percentage Percentage Term (months) Loans of Loans Receivables of Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables Receivables <= 12 33,510 88.87% 461,470,433.17 71.28% 33,241 443,393,204.71 124 2,494,995.78 1 212,791.46 144 15,369,441.22 0 839 13,973,229.73 32,671 447,497,203.44 33,386 458,975,437.39 124 2,494,995.78 > 12 and <= 24 4,125 10.94% 180,739,893.33 27.93% 4,037 171,924,054.02 35 1,733,473.65 0 53 7,082,365.66 0 149 7,987,976.26 3,976 172,751,917.07 4,090 179,006,419.68 35 1,733,473.65 > 24 and <= 36 62 0.16% 4,249,481.88 0.66% 62 4,249,481.88 0 0 0 0 0 62 4,249,481.88 62 4,249,481.88 0 > 36 and <= 48 11 0.03% 890,418.25 0.14% 11 890,418.25 0 0 0 0 0 11 890,418.25 11 890,418.25 0 > 48 and <= 60 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 Total 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Statistics Remaining Term Minimum Remaining Term in months Maximum Remaining Term in months Weighted Average Remaining Term in months 0 42 10 Distribution by Seasoning Credit Type Customer Type Vehicle Status Total Portfolio Classic Credit Used Car Classic Credit Balloon Credit Exquisite easy loan Enjoyable balance loan Corporate Individual New Used Percentage Percentage Seasoning (months) Loans Loans Loans Loans of Loans Receivables of Loans Receivables Receivables Receivables Receivables Loans Receivables Loans Receivables Loans Receivables Loans Receivables Loans Receivables <= 12 0 0.00% 0.00% 0 0 0 0 0 0 0 0 0 > 12 and <= 24 12,442 33.00% 295,644,806.26 45.66% 12,307 284,040,332.66 67 2,568,673.65 0 68 9,035,799.95 0 408 12,133,980.80 12,034 283,510,825.46 12,375 293,076,132.61 67 2,568,673.65 > 24 and <= 36 25,070 66.48% 347,470,786.65 53.69% 24,856 332,615,303.04 92 1,659,795.78 1 212,791.46 121 12,982,896.37 0 577 9,610,659.17 24,493 337,860,127.48 24,978 345,810,990.87 92 1,659,795.78 > 36 and <= 48 89 0.24% 2,639,348.10 0.41% 81 2,206,237.54 0 0 8 433,110.56 0 0 89 2,639,348.10 89 2,639,348.10 0 > 48 and <= 60 107 0.28% 1,595,285.62 0.25% 107 1,595,285.62 0 0 0 0 3 216,566.02 104 1,378,719.60 107 1,595,285.62 0 Total 37,708 100.00% 647,350,226.63 100.00% 37,351 620,457,158.86 159 4,228,469.43 1 212,791.46 197 22,451,806.88 0 988 21,961,205.99 36,720 625,389,020.64 37,549 643,121,757.20 159 4,228,469.43 Statistics Seasoning Minimum Seasoning in months Maximum Seasoning in months Weighted Average Seasoning in months 17 60 25 Volkswagen Finance (China) Co., Ltd ABS Operations ABSOperations.China@vwfsag.com +8610-65897000 27 / 43