COMMERZBANK AG - Post-stabilisation VW Leasing GmbH Triple Tranche

Post-stabilisation notice

16 August 2018

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Volkswagen Leasing GmbH

EUR Triple-Tranche Eurobond Transaction 2.5, 4.5 and 7 years

Post-Stabilisation Notice

Commerzbank (contact: Daniela Olt-Farrelly; telephone: [phone]) hereby gives notice that no stabilisation (within the meaning of Article 3.2 (d) of the Market Abuse Regulation (EU Regulation 596/2014) was undertaken by the Stabilising Managers named below in relation to the offer of the following securities.

Issuer:	Volkswagen Leasing GmbH
Guarantor (if any):	Volkswagen Financial Services AG
ISINs:	XS1865186594        2.5 years XS1865186321        4.5 years XS1865186677        7 years
Aggregate nominal amount:	€ 1,000,000,000       2.5yrs € 750,000,000,000   4.5 yrs € 750,000,000           7yrs
Description:	0.25 % Notes due 2021 1 % Notes due 2023 1.625% Notes due 2025
Stabilisation Coordinator: Stabilisation Managers:	Commerzbank AG BBVA Crédit Agricole CIB HSBC

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into the United States or any other jurisdiction in which such distribution would be unlawful.

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