D’IETEREN GROUP 2

A family-controlled, publicly listed company

D’IETEREN GROUP 3

An international group serving some12 million motorists in 35 countries

Vehicle Glass Repair and ReplacementAutomobile Distribution and Vehicle Glass Repair and Replacement

D’IETEREN GROUP 4

Two branded service businesses – BtoB and BtoC

D’Ieteren Auto

#1 car distributor in Belgium Around 300 independent dealers 35 corporately-owned car centers Vehicle financing and long-term car

rental: Volkswagen D’Ieteren Finance

Belron

#1 specialist vehicle glass repair & replacement (VGRR) group worldwide

35 countries, 2,400 branches, 8,600 mobile units

VehicleGlass

Automobile Distribution in Belgium

D’IETEREN GROUP 5

Segment contribution to FY 2013 results

Automobile Distribution & CorporateVehicle Glass Repair and Replacement

D’IETEREN GROUP 6

Key consolidated figures FY 2013

€mFY 2012 (restated) FY 2013 % change

Consolidated results

Sales 5,514.5 5,470.5 -0.8%Current operating result 250.2 220.2 -12.0%Current result before tax, group's share 200.2 177.6 -11.3%Group's share in the result for the period 190.1 114.0 -40.0%

Financial Structure

Equity (share of the Group) 1,677.4 1,723.6 2.8%Minority interest 1.8 1.6 12.5%Equity 1,679.2 1,725.2 2.7%Net financial debt 491.3 505.3 2.8%

BELRON S.A. 7

BELRON S.A. 8

Illustrative figures

BELRON S.A. 9

2. Collect customer details and identify the correct vehicle

3. Identify the correct piece of glass

6. Book an appointment

7. Take any excess

payment

5. Check stock availability

4. Validate insurance (online)

1. Customer access e.g. call centre/web

8. Provideservice where and

when customer desires

The Belron process

BELRON S.A. 10

VGGR market drivers Medium/Long Term: Miles driven - Vehicle design - Driver behaviour (speed,

disposal income…) - Government policy

Short Term: Weather Conditions

Strategy Belron concentrates only on repairing and replacing vehicle glass so it is able

to share best practice globally

Market leadership through balanced focus on consumers and influencers

Organic growth through brand strength and key account relationships

Highly successful geographic, multi-national expansion through over 800 acquisitions over the past 40 years

Outstanding operations leveraging economies of scope and scale

No peer with global presence – the "natural choice“

Market & Strategy Summary

BELRON S.A. 11

The Belron Sales & Marketing Strategy

MotoristInsurer Direct

Broker, Agent

Dealer, Garagebody shop

OtherSpecialists

Trade

Marketing

Trade

Trade

Key Accounts

Trade

AdvertisingInternet

Yellow PagesBranch location

Word of mouth

Belronfitting

businessesRegional

Insurer leaflets

BELRON S.A. 12

Belron now present in 35 countries1999: Belron present in 13 countries:

Australia, Belgium, Brazil, Canada, France, Germany, Ireland, Luxembourg, Netherlands, New-Zealand, Portugal, Spain, United Kingdom

2000: Switzerland, Greece2001: Denmark, Turkey, Slovenia*2002: Sweden, Italy2003: Norway, Serbia-Montenegro*2005: Hungary, United States2006: Romania*2007: Austria2009: China, Chile*, Finland*, Lithuania*2010: Estonia*, Russia2011: Croatia*2012: Ukraine*2013: Indonesia*

* Franchisee

BELRON S.A. 13

Sales and current operating result over 5 years

BELRON S.A. 14

Cash generation of Belron (€m)

Acquisitions (incl. debt acquired)

Net capex (incl.Finance Leases)

273.5

-51.5

168.1Free cash flow before tax

-106.1

0.7Change in WCR

EBITDA

2013

292.7

-39.7

191.6

-123.6

22.5

2012

D’IETEREN AUTO 15

D’IETEREN AUTO

Business description

16

Importation and distribution of spare parts and

accessories.

9 makes in Belgium: Importation and distribution ofVolkswagen, Audi, Seat, Skoda, Bentley, Lamborghini, Bugatti and Porsche vehicles in Belgium; Distribution of Yamaha products in Belgium and Luxemburg by D’Ieteren Sport;

5 distribution networks withsome 300 independent dealers

throughout Belgium;

35 corporate-owned dealerships (of which 5 Porsche Centers) located mainly in the Brussels and Antwerp regions;

Vehicle financing and long-term car lease through Volkswagen D’Ieteren

Finance (50% -1 share owned);

Used car sales through two “My Way” centers in the Brussels region, and around 130 dealers affiliated to

the “My Way Network”;

D’IETEREN AUTO

Business summary

17

Main wholesaler rolesMarketing, IT, logisticsDealer network managementCRMTraining

1948 1974 1984 1992 20001950 1975

A relationship of more than 60 years with the Volkswagen GroupAn in-depth knowledge of the Belgian automobile market

A proven network organisationAn IT, logistics and marketing know-how

2001 2006

D’IETEREN AUTO

Share in FY new car registrations at 21.15%Belgian car market down 0.1%

18

New car registrations(000s units)

D’Ieteren Auto market share (%)

Excluding deregistrations:

Market down 1.5%

Market share at 22.39% vs 23.16% in FY2012

D’IETEREN AUTO

Sales and current operating result over 5 years

19

Excluding D’Ieteren Lease

D’Ieteren Lease

D’IETEREN AUTO

Cash generation of D’Ieteren Auto & Corporate* (€m)

20

Net capex

59.6

45.3Free cash flow before tax

-17.7

3.4Change in net working capital

EBITDA

2013

66.4

98.6

-22.2

54.4

2012

* Excluding D’Ieteren Lease & Volkswagen D’Ieteren Finance

D’IETEREN GROUP

For further informationFinancial Communication

T.: + 32 2 536 54 39

F.: + 32 2 536 91 39

e-mail: financial.communication@dieteren.be

www.dieteren.com2012.dieteren.com

21