Dr. Ing. h.c. F. Porsche AG

Q3 + 9M performance: improving profitability despite weaker volumes - 9M 2026 revenue: EUR 25.3bn (-~6% YoY); decline driven by lower unit sales, but pricing + positive mix keep revenue quality resilient (“value-over-volume”). - BEV mix: all-electric Cayenne ramp ongoing; BEVs are 22% of YTD vehicle sales. - Automotive revenues per vehicle: up to ~EUR 126k (~+EUR 6k YoY). - Operating profit: EUR 1.7bn in 9M vs EUR 40m prior year, ROS 6.9%. - Q3 operating profit: EUR 387m, ROS 4.8% (still supported by pricing/mix and lower realignment costs).

Cost + realignment: “Zukunftspaket” progressing on plan; costs improving but still a headwind in 2026 Q4 - Cost of sales (9M): down EUR 3.2bn to EUR 20.4bn, largely from lower strategic realignment expenses (including released provisions). - Zukunftspaket / strategic realignment costs: Q3 strategic realignment ~EUR 300m vs ~EUR 1.9bn in Q3 last year (major YoY swing). - Q4 expectation: additional realignment-related expenditures continue, so profitability isn’t expected to materially improve further for full-year within the margin corridor.

Cash flow + balance sheet: strong surprise / positive - Automotive net cash flow (9M): EUR 2.5bn, margin 11.3% vs 5.6% last year. - Q3 automotive net cash flow: ~EUR 1.5bn, including ~EUR 500m net extraordinary cash mainly from Bugatti/Rimac transactions (>EUR 900m inflow); partially offset by strategic realignment + pension contributions. - Liquidity: Automotive net liquidity EUR 8.2bn at Q3 end → resilience and flexibility to keep investing.