TRATON : credit update, May 2026

TRATON CREDIT UPDATE May 2026

TRATON CREDIT UPDATE PRESENTATION

TRATON CREDIT UPDATE 2

May 2026

AGENDA

1. TRATON Overview

2. Snapshot - financial performance

3. Financing & rating

4. Contact details

TRATON CREDIT UPDATE 3

May 2026

DISCLAIMER (1/2)

IMPORTANT: You must read the following before continuing.

This document has been prepared for information purposes only. This presentation is not a prospectus or final terms for the purposes of Regulation (EU) 2017/1129 and does not constitute an offer or an invitation to subscribe for or to purchase any securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP (TRATON SE, together with its consolidated subsidiaries, the "TRATON GROUP") in any jurisdiction. Neither this presentation, nor any part of it, nor the fact of its distribution, shall form the basis of, or be relied on in connection with, any contractual commitment or investment decision in relation to the securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP in any jurisdiction, nor does it constitute a recommendation regarding any such securities. It is furnished solely for your information, should not be treated as giving investment advice and may not be printed, downloaded or otherwise copied or distributed.

The information contained in this presentation is not to be viewed from, or for publication, release or distribution in, the United States of America (the "United States"), Japan or Singapore and does not constitute an offer of securities for sale in any of these jurisdictions. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. The TRATON GROUP does not intend to register any portion of the offering of the securities referred to herein in the United States or to conduct a public offering of the securities referred to herein in the United States. This document may only be distributed in compliance with all applicable laws, and persons obtaining possession of this document should familiarize themselves with, and adhere to, the relevant applicable legal provisions. A breach of these restrictions may constitute a violation of US securities laws or of the laws applicable in other jurisdictions.

This presentation must not be construed as an offer or invitation or recommendation to purchase or sell or subscribe for, or a solicitation of any offer to purchase or subscribe for, any securities of Volkswagen AG, TRATON SE, or any company of the TRATON GROUP, in any jurisdiction and this presentation does not purport to contain all of the information that may be required to evaluate any investment. If any such offer or invitation is made, it will be done so on the basis of information contained in the base prospectus and any supplement thereto published in relation to such offering (together the "Prospectus") in combination with the relevant final terms relating to such securities and subject to compliance with the offer and distributions restrictions therein and any decision to purchase or subscribe for any securities pursuant to such offer or invitation should be made solely on the basis of such Prospectus and the relevant final terms and not this presentation. Should the TRATON GROUP pursue an offering of securities, the applicable final terms for such securities, when published, will be available on the website of the Luxembourg Stock Exchange (https://www.LuxSE.com) together with the Prospectus.

This presentation contains certain alternative performance measures that are not recognized under IFRS. They may not be comparable to other similarly titled measures of other companies and should not be considered as substitutes for the information contained in financial statements. All features in this presentation are current at the time of publication but may be subject to change in the future. The TRATON GROUP disclaims any obligation to update or revise any statements to reflect future events or developments. Statements contained in this presentation regarding past events or performance should not be taken as a guarantee of future events or performance. Prospective recipients should not treat the contents of this presentation as advice relating to legal, taxation or investment matters, and are to make their own assessments concerning such matters and other consequences of a potential investment in the TRATON GROUP and its securities, including the merits of investing and related risks.

TRATON CREDIT UPDATE 4

May 2026

DISCLAIMER (2/2)

IMPORTANT: You must read the following before continuing.

This presentation contains certain Environmental, Social and Governance ratings ("ESG Ratings"), which assess the TRATON GROUP's exposure to Environmental, Social and Governance ("ESG") risks and the related management arrangements established to mitigate those risks. ESG Ratings are a statement of opinion, not a statement of facts. They provide an opinion on certain environmental, social and related sustainability considerations. They are no recommendation by the TRATON GROUP or any other person to purchase or sell or subscribe for or any solicitation of any offer to purchase or subscribe for any securities referred to herein in any jurisdiction. ESG Ratings are not indicative of the TRATON GROUP's current or future operating or financial performance, or any future ability to service the securities referred to herein and are only current as of the dates on which they were initially issued. ESG Ratings may vary as the methodologies or criteria used to determine ESG Ratings differ. Currently, the providers of such ESG Ratings are not subject to any regulatory or other similar oversight in respect of their determination and award of ESG Ratings. Prospective investors must determine for themselves the relevance of ESG Ratings information contained in this presentation in making their investment decision.

This presentation contains forward-looking statements and information on the business development of the TRATON GROUP. These statements and information are based on

assumptions relating in particular to the TRATON GROUP's business and operations and the development of the economies in the countries in which the TRATON GROUP is active.

The TRATON GROUP has made such forward-looking statements on the basis of the information available to it and assumptions it believes to be reasonable. The forward-looking statements and information may involve risks and uncertainties, and actual results may differ materially from those forecasts. If any of these or other risks or uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly differ from those expressed or implied by such forward-looking statements and information. The TRATON GROUP will not update this presentation, particularly not the forward-looking statements. The presentation is valid on the date of publication only.

Certain financial information and financial data included in this presentation are preliminary, unaudited, and may be subject to revision. Due to their preliminary nature, statements contained in this presentation should not be unduly relied upon, and past events or performance should not be taken as a guarantee or indication of future events or performance. Financial figures might be translated from different currencies, using the exchange rate prevailing at the relevant date or for the relevant period that the relevant financial figures relate to.

The percentage figures shown may be subject to rounding differences. Due to different proportions and scaling in graphs, data shown in different graphs are not comparable.

1. TRATON OVERVIEW