48 Remuneration of the Board of Management and the Supervisory Board

Total remuneration granted to the members of the Board of Management amounted to €51.5 million (previous year: €38.2 million).

Under the performance share plan, current members of the Board of Management were granted a total of 110,165 performance shares for fiscal year 2021 (previous year: 77,800), whose value at the grant date amounted to €16.3 million (previous year: €12.7 million).

Advances granted to members of the Board of Management under the performance share plan amounted to €1.4 million as of December 31, 2021 (previous year: €6.5 million). In the fiscal year, a total of €5.1 million (previous year: €4.3 million) of the advances paid to members of the Board of Management were deducted from the payment amount under the performance share plan.

Total remuneration granted to the members of the Supervisory Board amounted to €5.2 million (previous year: €5.3 million).

PENSION ENTITLEMENTS AND BENEFITS TO RETIRED MEMBERS OF THE BOARD OF MANAGEMENT

For former members of the Board of Management and their surviving dependents €17.5 million (previous year: €35.9 million) were granted. Pension provisions in accordance with IFRSs for this group of individuals amounted to €371.9 million (previous year: €396.3 million).

The individual remuneration of the members of the Board of Management and the Supervisory Board is explained in the remuneration report. A comprehensive assessment of the individual remuneration components can also be found there.

Wolfsburg, March 1, 2022

Volkswagen Aktiengesellschaft
The Board of Management