Porsche : Annual Financial Statements Porsche Financial Services GmbH for the financial year 2023

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‌Porsche Financial Services GmbH Bietigheim-Bissingen Audited Financial Statements Annual financial statements December 31, 2023 EY GmbH & Co. KG Certified Public Auditors (Germany) Table of Contents Independent Auditor's Report Financial Reporting Engagement Terms, Limitation of Liability and Restriction on Use General Terms and Conditions of Engagement Notice: The following Independent Auditor's Report has been issued by us in compliance with the statutory and professional requirements and subject to the conditions described in the appendix "Engagement Terms, Limitation of Liability and Restriction on Use". If this document is used in electronic form for disclosure purposes pursuant to section 325 of the German Commercial Code (Handelsgesetzbuch - HGB), only the files relating to the financial reporting and, where a statutory audit is required, the Independent Auditor's Report or the corresponding audit opinion issued thereon are intended for this purpose. Independent Auditor's Report To Porsche Financial Services GmbH Audit Opinion We have audited the annual financial statements of Porsche Financial Services GmbH, Bietigheim-Bissingen, comprising the balance sheet as at December 31, 2023, the income statement for the financial year from January 1 to December 31, 2023, and the accompanying notes to the annual financial statements for 2023. Based on the knowledge obtained in the audit, in our opinion the accompanying annual financial statements comply, in all material respects, with the German commercial law provisions applicable to all merchants as well as with the presentation and disclosure requirements applicable to corporations pursuant to sections 264 to 277 of the German Commercial Code (Handelsgesetzbuch - HGB). In accordance with section 322 (3) sentence 1 HGB, we declare that our audit has not led to any objections to the propriety of the annual financial statements. Basis for the Audit Opinion We conducted our audit of the annual financial statements in accordance with section 317 HGB and in compliance with the German Generally Accepted Standards for the Audit of Financial Statements as promulgated by the Institut der Wirtschaftsprüfer (IDW). Our responsibilities under these requirements and principles are further described in the section "Auditor's Responsibility for the Audit of the Annual Financial Statements" of our Independent Auditor's Report. We are independent of the Company in accordance with German commercial and professional regulations and have fulfilled our other German professional responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the annual financial statements. Emphasis of Matter By availing itself of the exemption provision of section 264 (3) HGB, no notes to the annual financial statements and no management report were prepared. At the time of completion of our audit, it could not be finally assessed whether the exemption pursuant to section 264 (3) HGB had been rightfully claimed, as the requirements set out in section 264 (3) sentence 1 no. 5 letters (a) to (e) HGB are only fulfilled at a later point in time. Our audit opinion on the annual financial statements has not been modified in this respect. Responsibilities of Management for the Annual Financial Statements Management is responsible for the preparation of the annual financial statements in compliance, in all material respects, with the German commercial law provisions applicable to all merchants as well as with the presentation and disclosure requirements applicable to corporations pursuant to sections 264 to 277 HGB. Furthermore, management is responsible for such internal controls as it has determined, in accordance with the German Generally Accepted Accounting Principles (Grundsätze ordnungsmäßiger Buchführung), are necessary to enable the preparation of annual financial statements that are free from material misstatement, whether due to fraudulent acts (i.e. manipulation of accounting records and misappropriation of assets) or error. In preparing the annual financial statements, management is responsible for assessing the Company's ability to continue as a going concern. Moreover, management has the responsibility to disclose, as applicable, matters related to going concern. In addition, management is responsible for accounting on the going concern basis unless actual or legal circumstances preclude the use of the going concern assumption. Auditor's Responsibility for the Audit of the Annual Financial Statements Our objective is to obtain reasonable assurance as to whether the annual financial statements as a whole are free from material misstatement, whether due to fraudulent acts or error, and to issue an Independent Auditor's Report that includes our audit opinion on the annual financial statements. Reasonable assurance is a high level of assurance, but not a guarantee that an audit conducted in accordance with section 317 HGB and in compliance with the German Generally Accepted Standards on Auditing as promulgated by the Institut der Wirtschaftsprüfer (IDW) will always detect a material misstatement. Misstatements may arise from fraudulent acts or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual financial statements. During the audit, we exercise professional judgment and maintain professional skepticism. In addition, we identify and assess the risks of material misstatement of the annual financial statements, whether due to fraudulent acts or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our audit opinion. The risk of not detecting a material misstatement resulting from fraudulent acts is higher than the risk of not detecting a material misstatement resulting from error, as fraudulent acts may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls; obtain an understanding of the internal control system relevant to the audit of the annual financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an audit opinion on the effectiveness of the Company's internal control system; evaluate the appropriateness of the accounting policies applied by management and the reasonableness of accounting estimates and related disclosures made by management. we draw conclusions on the appropriateness of the going concern basis of accounting applied by management and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern.** If we conclude that a material uncertainty exists, we are required to draw attention in the Independent Auditor's Report to the related disclosures in the annual financial statements or, if such disclosures are inadequate, to modify our audit opinion. Our conclusions are based on the audit evidence obtained up to the date of our Independent Auditor's Report. However, future events or conditions may cause the Company to cease to continue as a going concern. We communicate with those charged with governance, among other matters, the planned scope and timing of the audit and significant audit findings, including any deficiencies in the internal control system that we identify during our audit. Stuttgart, March 28, 2024 EY GmbH & Co. KG Audit Firm Frey Massa Auditor Auditor ‌This document is a non-binding convenience translation of the German original.‌ In case of any discrepancy between the English and German versions, the German version prevails Porsche Financial Services GmbH, Bietigheim-Bissingen Balance sheet in accordance with the German Commercial Code (HGB) as of December 31, 2023 Assets A. Non-current assets I. Intangible assets Equity and liabilities A. Equity I. Subscribed capital 31.12.2023 EUR EUR 31.12.2022 TEUR 31.12.2023 EUR EUR 31.12.2022 TEUR 24,000,000.00 24 1 Purchased rights and licenses 6,546,182.55 2 Advance payments 35,400.00 6,581,582.55 7,835 838 II. Capital reserve III. Retained earnings 2,556,459.41 2,556 II. Property, plant and equipment Other retained earnings 52,000.00 52 Operating and office equipment 194,265.69 189 26,608,459.41 III. Financial assets 187,744,412.78 194,520,261.02 Shares in affiliated companies B. Current assets I. Inventories Finished goods and merchandise 119,035.16 II. Receivables and other assets 119,035.16 B. Provisions 168,518 C. Liabilities 157 1 Provisions for pensions and similar obligations 38,797,205.00 thereof amount restricted from distribution EUR 842,220.00 (PY TEUR 3.322) 2 Tax provisions 522,000.00 3 Other provisions 29,334,371.00 1 Advance payments received 301,696.22 2 Trade payables 15,255.05 3 Liabilities to affiliated companies 426,612,575.01 4 Other liabilities 3,233,552.72 thereof tax liabilities EUR 322,279.95 (PY TEUR 328) 68,653,576.00 430,163,079.00 34,701 867 26,779 271 275 433,587 533 1 Trade receivables 5,920,776.81 2 Receivables from affiliated companies 313,814,000.69 3 Other assets 14,115,390.18 4,293 325,466 18,079 D. Deferred income 4,224,921.34 3,608 333,850,167.68 III. Cash on hand and bank balances 1,030,461.73 1,744 334,999,664.57 C. Prepaid expenses 125,445.37 110 D. Difference from the offsetting of assets 4,664.79 0 529,650,035.75 527,23 529,650,035.75 527,23 Contingent liabilities Contingent liabilities from the provision of collateral for third-party liabilities 54,786,284.28 9,867 This document is a non-binding convenience translation of the German original. In case of any discrepancy between the English and German versions, the German version prevails ‌Porsche Financial Services GmbH, Bietigheim-Bissingen‌ Income Statement in accordance with the German Commercial Code (HGB) for the period from January 1 to December 31, 2023 2023 2022 77,987,271.02 7,324,206.40 66,799 5,82 EUR EUR EUR TEUR 1. Revenue 2. Other operating income of which income from currency translation EUR 229,327.25 (PY TEUR 495) 3. Cost of materials Expenses for purchased services -25,284,472.73 -26,082,654.97 -6,387,122.34 -20,768 -25,334 -8,557 4. Personnel expenses a) Wages and salaries b) Social security contributions and expenses for pensions and support thereof for pensions EUR 3,397,063.87 (PY TEUR 5,632) 85,311,477.42 72,619 -32,469,777.31 -3,079,228.21 -31,651,696.95 -33,891 -2,53 -26,518 5. Depreciation and amortization of intangible assets and property, plant and equipment 6. Other operating expenses of which expenses from currency translation EUR 160,286.86 (PY TEUR 1,037) -92,485,175.20 -83,707 7. Income from investments thereof from affiliated companies EUR 92,520,820.48 (PY TEUR 5,113) 92,520,820.48 13,311,500.02 -188,690.01 -14,292,845.40 5,113 2,874 -16,716 -2,299 8. Other interest and similar income thereof from affiliated companies EUR 12,959,009.67 (PY TEUR 2.688) 9. Depreciation on financial assets and marketable securities 10. Interest and similar expenses thereof to affiliated companies EUR 13,687,173.40 (PY TEUR 1,742) thereof from unwinding of provisions EUR 605,672.00 (PY TEUR 557) -7,173,697.78 -11,089 11. Income taxes 91,350,785.09 -2,496,641.00 -11,029 -454 12. Restult after taxes 81,680,446.31 0.00 0.00 -22,572 0 22,572 13. Other taxes 14. Income from loss absorption 15. Profit transferred under a profit transfer agreement -81,680,446.31 0 16. Net income for the year 0.00 0 ‌Porsche Financial Services GmbH, Bietigheim-Bissingen Supplementary information to the annual financial statements 2023 ‌General information The annual financial statements of Porsche Financial Services GmbH (Register court: Stuttgart District Court, HRB 301159), Bietigheim-Bissingen, were prepared for the financial year from 1 January 2023 to 31 December 2023. ‌Notes to the balance sheet Receivables and other assets Receivables and other assets are broken down as follows: 2023 2022 in TEUR in TEUR With a remaining term of up to one year Trade receivables 5,921 4,293 Receivables from affiliated companies 136,920 141,783 Other receivables and assets 14,115 18,079 With a remaining term from 1 to 5 years Trade receivables - - Receivables from affiliated companies 176,860 183,683 Other receivables and assets - - With a remaining term of more than 5 years Trade receivables - - Receivables from affiliated companies 34 - Other receivables and assets - - Receivables from affiliated companies amounting to TEUR 313,814 (prior year TEUR 325,466) are composed as follows: 2023 2022 in TEUR in TEUR Receivables from shareholder 1,547 22,572 of which: trade receivables 1,547 - of which: receivables from profit transfer agreement - 22,572 Receivables from other affiliated companies 312,267 302,894 of which: receivables from loans 310,997 299,555 of which: trade receivables 1,270 3,339 As of the reporting date, short-term foreign currency receivables amounted to TEUR 1 (prior year TEUR 0). There were no short-term foreign currency liabilities as of the reporting date. Income from foreign currency translation is reported under other operating income. Expenses from foreign currency translation are reported under other operating expenses. Pension provisions Provisions for pensions and similar obligations are determined using actuarial methods applying the projected unit credit method, taking into account the current mortality tables 2018 G by Prof. Dr. Klaus Heubeck. In accordance with Section 253 of the German Commercial Code (HGB), pension provisions as of 31 December 2023 amount to TEUR 38,797 (prior year TEUR 34,701). This amount is TEUR 842 (prior year TEUR 3,322) lower than the valuation amount for pension provisions that would have resulted as of 31 December 2023 if the seven-year average interest rate had been applied. Liabilities 2023 2022 in TEUR in TEUR With a remaining term of up to one year Liabilities to banks - - Advances received 302 271 Trade payables 15 275 Liabilities to affiliated companies 426,613 433,587 Other liabilities 3,234 533 With a remaining term from 1 to 5 years Liabilities to banks - - Trade payables - - Liabilities to affiliated companies - - Other liabilities - - As of the reporting date, there were no liabilities with a remaining term of more than 5 years. Liabilities to affiliated companies amounting to TEUR 426,613 (prior year TEUR 433,587) are composed as follows: 2023 2022 in TEUR in TEUR Liabilities to shareholder 84,558 188,771 of which: liabilities from loans - 188,292 of which: liabilities from tax allocation agreement 2,497 382 of which: VAT liabilities 87 - of which: liabilities from profit transfer agreement 81,681 - of which: trade payables 293 97 Liabilities to other affiliated companies 342,055 244,816 of which: liabilities from loans 339,467 243,350 of which: trade payables 2,588 1,466 ‌Notes to the income statement Revenue Revenue is broken down as follows: 2023 2022 in TEUR in TEUR Financing business 28,377 22,974 Insurance business 4,684 2,490 Service provider activities 34,362 34,269 Credit card business 2,968 880 Leasing business 3,905 2,847 Other services 3,691 3,338 Other services amounting to TEUR 3,691 (prior year TEUR 3,338) include revenue from recharges of service costs and revenue from the provision of vehicles to the Company's employees. Other operating income Other operating income mainly comprises income from the reversal of value adjustments on receivables and the reversal of provisions, income from reversals of impairment losses on financial assets, and income from foreign currency translation. This includes income relating to prior periods amounting to TEUR 3,008 (prior year TEUR 3,947). Other operating expenses Other operating expenses include in particular external IT services, licence fees, rental expenses, expenses from additions to provisions and value adjustments, legal and consulting costs, as well as expenses from foreign currency translation. Bietigheim-Bissingen, 13 March 2024 The Management Board Volker Reichhardt Dr. Michael Löffler Managing Director and Spokesperson Managing Director Konrad Riedl Dr. Marc Rieß Managing Director Managing Director This document is a non-binding convenience translation of the German original. In case of any discrepancy between the English and German versions, the German version prevails

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