Porsche Ag · XETR:P911
Porsche — Investor Day (October 2026)
90 slides from Porsche's investor day presentation, Oct 7, 2026
Slide 1: Capital Markets Day 2026 Sportwagenschmiede '35
Capital Markets Day 2026 Sportwagenschmiede '35 Stuttgart, October 7th 911 GT3 S/C (WLTP): Fuel consumption combined: 13.7 l/100 km; CO₂ emissions combined: 310 g/km; CO₂ class: G; 1 Status 10/2026
Slide 2: Disclaimer
Disclaimer In this Presentation (together with any additional or supplementary materials, the 'Presentation') the 'Company' or 'Porsche AG' means Dr. Ing. h.c. F. Porsche Aktiengesellschaft and the 'Group' means Porsche AG together with its consolidated subsidiaries. This Presentation has been prepa
Slide 3: Introduction: New corporate strategy structure
Introduction Structure New corporate strategy structure 01 Strategic Direction Michael Leiters 02 Brand & Customer Matthias Becker 03 Products & Technologies Michael Leiters & Michael Steiner 04 Enterprise & Operations Michael Steiner & Michael Leiters 05 Enabler Michael Leiters 06 Financials Jochen
Slide 4: Porsche Strategic transformation
Strategic Direction Porsche Strategic transformation Reinforce Porsche as most desirable sports car manufacturer 4
Slide 5: Environment: Global and industry-specific challenges remain
Strategic Direction Environment Global and industry-specific challenges remain Exchange Geopolitics & Automotive Regulatory rates markets industry headwinds ▪ Stronger EUR ▪ Tariffs ▪ Market dynamics ▪ CO2 impact ▪ Supply chains ▪ China ▪ Registration restrictions 5
Slide 6: Mission: Our mission remains unchanged
Strategic Direction Mission Our mission remains unchanged 'In the beginning I looked around and could not find quite the car I dreamed of. So I decided to build it myself.' Ferry Porsche 6
Slide 7: Vision: We put the sports car in the center of everything
Strategic Direction Vision We put the sports car in the center of everything Driven by the love for sports cars. 7
Slide 8: Vision: We put the sports car in the center of everything
Strategic Direction Vision We put the sports car in the center of everything Driven by the love for sports cars. 8
Slide 9: Target Picture: Overarching ambition
Strategic Direction Target Picture Overarching ambition Strategic Direction Sportwagenschmiede '35 Reinforce Porsche as most desirable sports car manufacturer Value over Volume Brand & Customer Elevated positioning and scarcity strengthening pricing power Products & Technologies Exhilarating Perform
Slide 10: Mid-term Ambition Brand & Customer
Strategic Direction Mid-term Ambition Brand & Customer - Indicative mid-term ambition vs. 2025 - Value over Volume Elevated positioning and scarcity strengthening pricing power Brand Value Quality #1 Most valuable ~20% Product substance driven #1 J.D. Power IQS brand ASP1 increase of top 10k units r
Slide 11: Mid-term Ambition Products & Technologies
Strategic Direction Mid-term Ambition Products & Technologies - Indicative mid-term ambition vs. 2025 - Exhilarating Performance Exclusive and emotional sports car experience Portfolio Positioning Tech ~30% Increase in ~45% Increase in share of #1 Sportiest car sales per derivative derivatives in D-
Slide 12: Mid-term Ambition Enterprise & Operations
Strategic Direction Mid-term Ambition Enterprise & Operations - Indicative mid-term ambition vs. 2025 - Flexibility & Productivity More efficient and resilient setup enabling a lower break-even point R&D Procurement Production Sales ~20% Development cost ~10% New vehicle projects ~30% Manufacturing
Slide 13: Mid-term Ambition Enabler
Strategic Direction Mid-term Ambition Enabler - Indicative mid-term ambition vs. 2025 - Focus & Execution Streamlined organization and fully committed leadership team Management Workforce Performance ~40% Structural position ~25% FTE 3x Weight of individual reduction reduction performance impact on
Slide 14: Mid-term Ambition Financials
Strategic Direction Mid-term Ambition Financials - Indicative mid-term ambition - Strong Value Creation High performance and superior cash generation Topline Profitability Resilience Cash 41-45 €Bn 10-15% <200k 9-12% Revenue Return on Sales Break-even point Net Cash Flow Margin (Group) (Group) (Unit
Slide 15: Transformation: Path to increased value and resilience
Strategic Direction Transformation Path to increased value and resilience Rightsize Product push Excellence Status quo Short-term Mid-term Long-term Target state 2035 Brand Profitability Building on our Radically reduce Launch new Sustain and brand & loyal cost base & distinctive build on strong cus
Slide 16: Brand & Customer
Brand & Customer Value over Volume Elevated positioning and scarcity strengthening pricing power 16
Slide 17: Mid-term Ambition Brand Value
Brand & Customer Mid-term Ambition - Indicative mid-term ambition vs. 2025 - Value over Volume Elevated positioning and scarcity strengthening pricing power Brand Value Quality #1 Most valuable ~20% Product substance driven #1 J.D. Power IQS brand ASP1 increase of top 10k units ranking2 1. Average s
Slide 18: Brand: Strengthened brand values
Brand & Customer Brand Strengthened brand values 18
Slide 19: Brand: Five brand differentiators
Brand & Customer Brand Five brand differentiators How customers particularly perceive Porsche Heritage Exclusiveness Design Performance 911 GT3 S/C (WLTP): Fuel consumption combined: 13.7 l/100 km; CO₂ emissions combined: 310 g/km; CO₂ class: G; Status 10/2026; 911 GT3 RS (WLTP): Fuel consumption co
Slide 20: Brand: Raceborn – Motorsport is part of the Porsche DNA
Brand & Customer Brand Raceborn – Motorsport is part of the Porsche DNA Development Mindset of improvement The racing spirit we share of future technologies through competition as family and friends 'We build race cars to build sports cars' 20
Slide 21: Brand: Strengthening a unique motorsport offering
Brand & Customer Brand Strengthening a unique motorsport offering Sharing our passion … one of the most sold and most and success by offering … successful customer sport vehicle … a limited series of racing cars to enthusiasts 21
Slide 22: Brand: Solidifying position as most valuable brand
Brand & Customer Brand Solidifying position as most valuable brand - Illustrative - Brand Finance ranking 2026 Strong brand driving long-term value Maintain #1 most valuable luxury & premium brand for the 9th consecutive year Exceptional brand strength and desirability1 99% brand awareness and highe
Slide 23: Value: Strengthen unique positioning
Brand & Customer Value Strengthen unique positioning - Illustrative | Indicative mid-term ambition vs. 2025 - Average selling price (k€)1 ▪ Porsche uniquely positioned between Premium and Luxury ▪ Reinforcing position maintaining attainable brand entry 300 ▪ Opportunities in the top-end through expa
Slide 24: Value: Further opportunities in the top segment
Brand & Customer Value Further opportunities in the top segment - Illustrative | Indicative mid-term ambition vs. 2025 - Average selling price1 and deliveries per brand ▪ Portfolio uplift3 resulting from optimized Luxury players2 and Porsche top 10k units portfolio, derivative mix, expansion of Sond
Slide 25: Exclusiveness: Strengthening existing individualization offer
Brand & Customer Exclusiveness Strengthening existing individualization offer - Indicative mid-term ambition vs. 2025 - Bespoke Pre-defined You dream it. We build it. Most personal car. Scale manufacturing capacity to meet market demand Expand core offering & unlock paint-to-sample potential Enh
Slide 26: Exclusiveness: Strategic expansion beyond the core offer
Brand & Customer Exclusiveness Strategic expansion beyond the core offer HOME OF SPORT S CARS Performance Exclusiveness Heritage Few-Offs One-Offs Few-Offs Manthey Kits Sonderwunsch Experience Limited Series 911 GT3 RS (WLTP): Fuel consumption combined: 13.2 l/100 km, CO₂ emissions combined: 299 g/k
Slide 27: Customer: Loyalty in numbers
Brand & Customer Customer Loyalty in numbers - Actuals - Porsche for life Loyalty Top customers Broad customer base as Long-term brand connection Strong ambassadors source of business and loyalty and value contributors Global Porsche Customers loyal for Higher spending compared car parc over a decad
Slide 28: Customer: Inspiring customer engagement
Brand & Customer Customer Inspiring customer engagement Porsche Porsche Porsche Dealers Experience Centers Brand Events Inviting retail Inspiring product & brand Cross-industry destinations experiences worldwide appeal 28
Slide 29: Quality: Our profound commitment
Brand & Customer Quality Our profound commitment 'Quality is the foundation of our business success.' Dr. Wolfgang Porsche 29
Slide 30: Quality: Maintain quality standard and improve efficiency
Brand & Customer Quality Maintain quality standard and improve efficiency - Indicative mid-term ambition vs. 2025 - Product quality Service quality Warranty spend J.D. Power IQS J.D. Power CSI Warranty costs/revenue #1 #1 #1 #1 ~45% 2026 #13 2025 Mid-term 2025 Mid-term 2025 Mid-term ambition ambitio
Slide 31: Value over Volume: Our long-standing principle
Brand & Customer Value over Volume Our long-standing principle 'We care more about building outstanding cars than about building a large number of cars.' Ferry Porsche 31
Slide 32: Products & Technologies
Products & Technologies Exhilarating Performance Exclusive and emotional sports car experience 32
Slide 33: Mid-term Ambition Portfolio Positioning
Products & Technologies Mid-term Ambition - Indicative mid-term ambition vs. 2025 - Exhilarating Performance Exclusive and emotional sports car experience Portfolio Positioning Tech ~30% Increase in ~45% Increase in share of #1 Sportiest car sales per derivative derivatives in D-/E-segment1 in each
Slide 34: Portfolio: Current lineup
Products & Technologies Portfolio Current lineup 2023 2024 2024 2026 2023 2024 34
Slide 35: Product Highlights GT3 S/C
Products & Technologies Product Highlights 911 GT3 S/C First 911 GT3 with a fully automatic convertible roof Ultimate driver's car with manual transmission Naturally aspirated engine revving up to 9,000 rpm 35 911 GT3 S/C (WLTP): Fuel consumption combined: 13.7 l/100 km; CO₂ emissions combined: 310
Slide 36: Product Highlights Cayenne Turbo Electric
Products & Technologies Product Highlights Cayenne Turbo Electric Most powerful production Porsche with up to 1,156 PS Exceptional acceleration with 2.5 s from 0 to 100 km/h Innovative technology for robust high-power charging up to 400 kW 36 Cayenne Turbo Electric (WLTP): Electrical consumption com
Slide 37: Portfolio: Increased efficiency
Products & Technologies Portfolio Increased efficiency - Indicative mid-term ambition vs. 2025 - Number of derivatives Sales per derivative ~20% ~30% 2025 Mid-term 2025 Mid-term ambition ambition Reduced complexity Increased efficiency Focus on emotional and More sales per derivative with profitable
Slide 38: Portfolio: Exclusive portfolio expansions in evaluation
Products & Technologies Portfolio Exclusive portfolio expansions in evaluation - 2025 portfolio as starting point- 2-Door Sport Sport Sports Cars Sedans Utility Vehicles E Segment 1 1 New flagship above 911 2 Emotional 911 D Segment 2 3 3 derivatives New D segment SUV C Segment 4 At least one major
Slide 39: Portfolio: Expanding in profitable top segments
Products & Technologies Portfolio Expanding in profitable top segments - Indicative mid-term and strategic ambition vs. 2025 - Share of derivatives in D-/E-segment1 Expansion in new segments with excellent brand-fit ~45% Contributes to brand differentiators Improved profitability through higher marg
Slide 40: Portfolio: More resilient China approach
Products & Technologies Portfolio More resilient China approach - Indicative mid-term ambition - China volume share Value over Volume Peak 2020 Conservative volume planning for China market ~35% Positioning in niche segments Strong brand position through 'Engineered in Germany' <10% Scalable busines
Slide 41: Portfolio: Extended parallel offering matching market demand
Products & Technologies Portfolio Extended parallel offering matching market demand - Indicative mid-term ambition - 2 1 ICE/(P)HEV : BEV Ratio of model lines 41 Cayenne Turbo Electric (WLTP): Electrical consumption combined: 22.5 – 20.4 kWh/100 km; CO₂ emissions combined: 0 g/km; CO₂ class: A; Stat
Slide 42: Portfolio: Continued decarbonization program
Products & Technologies Portfolio Continued decarbonization program - Indicative strategic ambition vs. 2023 - CO2 emissions reduction1 Strategic implementation 1 Volume & mix development ▪ Value over Volume approach ▪ Portfolio electrification (BEVs, PHEVs and tHEVs) 2 Value chain decarbonization m
Slide 43: Products: Increased desirability of ICE and hybrid models
Products & Technologies Products Increased desirability of ICE and hybrid models 2-Door Sports Cars Sport Sedans Sport Utility Vehicles Adding further Transferring 2-door Rolling out brand shaping highly emotional sports car technology powertrain technology derivatives to 4-door model lines to all s
Slide 44: Products: Increased desirability of BEV models
Products & Technologies Products Increased desirability of BEV models 2-Door Sports Cars Sport Sedans Sport Utility Vehicles Launching our first Infusing EV performance Investing in next-gen 2-door EV sports car with motorsport emotion battery technology and intelligent features The sportiest car in
Slide 45: Product Highlights Boxster
Products & Technologies Product Highlights 718 Boxster Innovative battery concept preserves Porsche mid-engine character Authentic sports car feeling thanks to low seating position 45
Slide 46: Platforms: Resilient platform strategy
Products & Technologies Platforms Resilient platform strategy - Indicative mid-term ambition - 2-Door Sport Sport Sports Cars Sedans Utility Vehicles MMB MSB PPC Focused platform portfolio MMB MSB PPC Develop state-of-the-art platforms Flexible powertrain portfolio Enable market-oriented EV transiti
Slide 47: Tech: Building on our iconic 911
Products & Technologies Tech Building on our iconic 911 'The 911 is the only car that you can drive from an African safari to Le Mans, then to the theater and onto the streets of New York.' Ferry Porsche 47
Slide 48: Tech: What makes a Porsche a Porsche?
Products & Technologies Tech What makes a Porsche a Porsche? Design Heritage Performance Driving Fun Exclusiveness Iconic sports cars Racing DNA in series Optimized chassis controls combined Intuitive direct Unique GT derivatives with characteristic production, e.g., with efficient package and power
Slide 49: Tech: Focus on next gen differentiating technologies
Products & Technologies Tech Focus on next gen differentiating technologies - Selected technologies - Design Heritage Performance Driving Fun Exclusiveness Aerosthetics Efficient Integrated Fully active T-Hybrid in Authentic sound, Limited sports integrated into lightweight battery HV suspension add
Slide 50: Tech: Leverage cylindrical cell technology
Products & Technologies Tech Leverage cylindrical cell technology - Indicative mid-term ambition vs. current - Higher driving range Up to Higher driving range through 20% increased cell energy density, pack efficiency and reduced energy consumption Improved fast-charging performance¹ Up to Improved
Slide 51: Tech: Broad toolbox for future Porsche ICE/(P)HEV
Products & Technologies Tech Broad toolbox for future Porsche ICE/(P)HEV - Current toolbox - Technology area Technology spectrum Power unit R4 V6 V8 B6 Induction Naturally Turbo eTurbo aspirated charged charged Hybrid Pure Plug-In Performance technology ICE Hybrid Hybrid¹ Transmission Manual Automat
Slide 52: Enterprise & Operations
Enterprise & Operations Flexibility & Productivity More efficient and resilient setup enabling a lower break-even point 52
Slide 53: Mid-term Ambition R&D Procurement Production Sales
Enterprise & Operations Mid-term Ambition - Indicative mid-term ambition vs. 2025 - Flexibility & Productivity More efficient and resilient setup enabling a lower break-even point R&D Procurement Production Sales ~20% Development cost ~10% New vehicle projects ~30% Manufacturing labor ~20% Sales & m
Slide 54: R&D: Engineering center Weissach
Enterprise & Operations R&D Engineering center Weissach - Selected facilities - Test track Motorsport center Tech-testing facility Studio Wind tunnel 54
Slide 55: R&D: Accelerated development speed
Enterprise & Operations R&D Accelerated development speed - Indicative mid-term ambition vs. previous vehicle projects - Product development process duration Key levers to reduce product development cycles in upcoming vehicle projects, e.g., -30% ▪ PEP modularization 2025 ▪ Complexity reduction ▪ Op
Slide 56: R&D: Reduced development costs per model line
Enterprise & Operations R&D Reduced development costs per model line - Indicative mid-term and strategic ambition vs. 2025 - Development costs per model line Levers for reduction Factor cost: Lower cost per hour/material ~20% ▪ Recalibration of internal vs. external resources ▪ Optimization of engin
Slide 57: R&D: Streamlined global expert network for world car approach
Enterprise & Operations R&D Streamlined global expert network for world car approach Combination of Porsche Engineering and Porsche Digital to Porsche Technologies Full vehicle development Bundling of competencies with global footprint Strategic collaboration E/E architecture Battery, apps, Cyber se
Slide 58: Procurement: Competitive and reliable processes
Enterprise & Operations Procurement Competitive and reliable processes Robust supply Supply chain structures risk control Competitive & reliable supply chain Competitive Secured supply sourcing continuity 58
Slide 59: Procurement: Reduced material costs and supplier invest
Enterprise & Operations Procurement Reduced material costs and supplier invest - Indicative mid-term ambition vs. old plan - Material costs – new vehicle projects Supplier invest – new vehicle projects Mid-term ambition Mid-term ambition ~10% ~15% Old plan New plan Old plan New plan Re-targeting inc
Slide 60: Procurement: Leveraging synergies
Enterprise & Operations Procurement Leveraging synergies Synergies in platforms, modules, parts Platform MMB Platforms PPC/PPE Platform MSB + in lead in lead in lead Synergies within Porsche Synergies in Group Synergies in Group Modules & Parts Utilize Group modules and bundled parts for synergies w
Slide 61: Production: Future-ready production network
Enterprise & Operations Production Future-ready production network - As of 2025 - Zuffenhausen Leipzig Flexible & Exclusive Agile & Productive 911 718 Taycan Macan Panamera Bratislava Cayenne 61
Slide 62: Production: Mastering complexity at reduced cost
Enterprise & Operations Production Mastering complexity at reduced cost - Indicative mid-term and strategic ambition vs. 2025 - Zuffenhausen Flexible and exclusive Manufacturing labor costs Reduced personnel costs via Zukunftspaket ▪ Salary growth below regular tariff increases ~30% ▪ Reduced specia
Slide 63: Production: Benchmark for productivity & cost efficiency
Enterprise & Operations Production Benchmark for productivity & cost efficiency - Indicative mid-term and strategic ambition vs. 2025 - Leipzig Agile and productive Manufacturing labor costs Reduced personnel costs ▪ Salary growth below regular tariff increases ▪ Reduced special payments ~30% Produc
Slide 64: Sales: Streamlined setup from five to four sales regions
Enterprise & Operations Sales Streamlined setup from five to four sales regions Americas Europe China Overseas 64
Slide 65: Sales: More tailored market strategies
Enterprise & Operations Sales More tailored market strategies - Indicative mid-term ambition vs. 2025 - Americas Europe China Overseas PAG volume share PAG volume share PAG volume share PAG volume share ~35% ~35% ~15% ~15% 2025 Mid-term 2025 Mid-term 2025 Mid-term 2025 Mid-term ambition ambition amb
Slide 66: Sales: Reduced sales & marketing costs
Enterprise & Operations Sales Reduced sales & marketing costs - Indicative mid-term and strategic ambition vs. 2025 - Sales & marketing cost base ▪ Sales organization redesign Streamlined ~20% ▪ Transition to more cost-efficient headquarter sales systems and processes Efficient ▪ Shared services con
Slide 67: Sales: More efficient retail network
Enterprise & Operations Sales More efficient retail network - Indicative mid-term and strategic ambition vs. 2025 - Increasing deliveries per point of sale Retail formats ~5% Porsche Aftersales Urban 2025 Mid-term Strategic Centers Formats Formats ambition ambition Network setup adjusted to market c
Slide 68: Sales: More profitable adjacent businesses
Enterprise & Operations Sales More profitable adjacent businesses - Indicative mid-term ambition vs. 2025 - Financial Services Aftersales Key loyalty driver & sales enabler Resilient profit pool ~20% EBIT increase ~10% EBIT increase Personalized offers via CRM integration Expand approved warranty of
Slide 69: Enabler
Enabler Focus & Execution Streamlined organization and fully committed leadership team 69
Slide 70: Mid-term Ambition Management Workforce
Enabler Mid-term Ambition - Indicative mid-term ambition vs. 2025 - Focus & Execution Streamlined organization and fully committed leadership team Management Workforce Performance ~40% Structural position ~25% FTE 3x Weight of individual reduction reduction performance impact on bonus Note: Selected
Slide 71: Subsidiaries: Reduced non-core activities
Enabler Subsidiaries Reduced non-core activities Executed divestments Focus on the core Further portfolio optimization 71
Slide 72: Digitalization: Leveraging digital and AI
Enabler Digitalization Leveraging digital and AI - Indicative mid-term and strategic ambition vs. 2025 - Annual AI value contribution AI relevance especially high in areas driving efficiency gains & differentiation – Porsche efforts well on track 2.5x Lighthouse projects 1 AI-driven built-to-stock 2
Slide 73: Management and Workforce: Reduced size and cost
Enabler Management and Workforce Reduced size and cost - Indicative ambition vs. 2025/old plan - Structural positions Indirect and factory FTE Personnel costs Additional effect on top of structural efficiency ~40% ~25% Mid-term ambition ~10% 2025 Mid-term 2025 Mid-term Strategic ambition ambition am
Slide 74: Performance: Increased performance-based compensation
Enabler Performance Increased performance-based compensation - Indicative mid-term ambition vs. 2025 - Share of individual bonus component1 Share of individual component increased from 10% to 30%1 3x Clear, transparent and fair performance differentiation 10% 30% Rewarding top performers & significa
Slide 75: Mindset: Refined mindset with strong performance focus
Enabler Mindset Refined mindset with strong performance focus With clarity to success. Own it and deliver. Mit Klarheit zum Ziel. Kümmern und liefern. Mindset Winning together. Passion for the extraordinary. Gemeinsam gewinnt. Herzblut für Herausragendes. 75
Slide 76: Financials
Financials Strong Value Creation High performance and superior cash generation 76
Slide 77: Mid-term Ambition Financials
Financials Mid-term Ambition - Indicative mid-term ambition - Strong Value Creation High performance and superior cash generation Topline Profitability Resilience Cash 41-45 €Bn 10-15% <200k 9-12% Revenue Return on Sales Break-even point Net Cash Flow Margin (Group) (Group) (Units) (Auto) Note: Sele
Slide 78: Environment: Challenges reflected in conservative planning
Financials Environment Challenges reflected in conservative planning Exchange Geopolitics & Automotive Regulatory rates markets industry headwinds ▪ Stronger EUR ▪ Tariffs ▪ Market dynamics ▪ CO2 impact ▪ Supply chains ▪ China ▪ Registration restrictions 78
Slide 79: Key figures: Confirming double digit mid-term ambition
Financials Key figures Confirming double digit mid-term ambition - Indicative mid-term and strategic ambition vs. 2025 - Return on Sales1 (Group, in %) Net Cash Flow Margin1 (Automotive, in %) 10 – 15 15 9 – 12 12 4.7 1.1 2025 Mid-term Strategic 2025 Mid-term Strategic ambition ambition ambition amb
Slide 80: Group Revenue: Strong topline growth
Financials Group Revenue Strong topline growth - Indicative mid-term ambition vs. 2025 - Group Revenue (in €Bn) 14 - 25% Unique Portfolio positioning uplift 41 - 45 36 Drivers Average Value selling price over Volume 2025 Mid-term ambition 1 Excluding strategic realignment; 911 GT3 S/C (WLTP): Fuel c
Slide 81: Break-even: Resilient setup enables lower break-even point
Financials Break-even Resilient setup enables lower break-even point - Illustrative | Indicative mid-term ambition vs. 2025 - Volume (Indexed to 100) Reinforced Portfolio pricing power efficiency Drivers Efficient value Streamlined chain setup organization Break-even <200k units 1 Excluding strategi
Slide 82: Group RoS: Driven by high-margin portfolio & lean cost base
Financials Group RoS Driven by high-margin portfolio & lean cost base - Indicative mid-term and strategic ambition vs. 2025 - Group Return on Sales (RoS)1 Strategic realignment 10 - 15% 15% 1.1% 2025 China Price + Mix Cost Initiatives D&A Regulations FX Mid-term Strategic + Volume ambition ambition
Slide 83: Investments: Reduction of CapEx and R&D budgets
Financials Investments Reduction of CapEx and R&D budgets - Indicative mid-term ambition vs. 2025 - CapEx & R&D1 (in €Bn) 9% - 21% Streamlined portfolio Reduced complexity 4.4 3.5 - 4.0 Drivers R&D efficiency Digitalization 2025 Mid-term ambition 1. Automotive CapEx & research and development costs
Slide 84: Asset Base: Sharpening of capital efficiency
Financials Asset Base Sharpening of capital efficiency - Indicative mid-term ambition vs. 2025 - CapEx + Capitalized R&D vs. D&A Drivers (in €Bn) CapEx+ CapEx + Disciplined investment approach Capitalized Capitalized significantly reduces future CapEx R&D1 D&A2 R&D1 D&A2 4.2 Focused portfolio strate
Slide 85: Automotive Net Cash Flow Margin: Solidifying at a high level
Financials Automotive Net Cash Flow Margin Solidifying at a high level - Indicative mid-term and strategic ambition vs. 2025 - Automotive Net Cash Flow Margin1 Strategic realignment 9 - 12% 12% 4.7% 2025 China Improved CapEx + Working Capital / Pensions Regulations FX Mid-term Strategic operating Ca
Slide 86: Financial Outlook: Mid-term and strategic ambition
Financials Financial Outlook Mid-term and strategic ambition - Indicative mid-term and strategic ambition - Mid-term Strategic ambition ambition Sales Revenue 41 - 45 €Bn Group Return on Sales1 10 - 15% 15% Automotive Net Cash Flow Margin1 9 - 12% 12% 1. The mid-term ambition level is based on conse
Slide 87: Capital Allocation: Attractive shareholder returns
Financials Capital Allocation Attractive shareholder returns - Planned capital allocation - Dividend policy ≥50% pay-out ratio1 CapEx and R&D2 Technology and venture Investments remain elevated in 2026, Focus on partnerships and with a structural decline thereafter licensing over ownership driven by
Slide 88: Transformation: Path to increased value and resilience
Summary Transformation Path to increased value and resilience Rightsize Product push Excellence Status quo Short-term Mid-term Long-term Target state 2035 Group Return on Sales 15% Building on our Radically reduce Launch new Sustain and Automotive brand & loyal cost base & distinctive build on stron
Slide 89: Porsche Investment Case
Summary Porsche Investment Case - Indicative mid-term ambition vs. 2025 - Brand & Customer #1 Valuable Brand #1 Sportiest Car Structural Cost Reduction Positioned between premium & luxury In each segment with unique Porsche DNA Along entire value chain #1 Quality ~47% Derivatives Resilient Regional
Slide 90: Capital Markets Day 2026 Sportwagenschmiede '35
Capital Markets Day 2026 Sportwagenschmiede '35 Stuttgart, October 7th 911 GT3 S/C (WLTP): Fuel consumption combined: 13.7 l/100 km; CO₂ emissions combined: 310 g/km; CO₂ class: G; 90 Status 10/2026