Tucked behind the front grille are active shutters at each corner that open or close. When they are open, the air flows through the duct and is directed around the front wheels. At 43.5 mph, the shutters close to improve aerodynamic functionality.
The rear has directional ducts, as well, mostly for cooling purposes. The air that is flowing on top of and around the sides of the car is sucked into the slats beneath the rear window. The air cools the engine and exits at the rear corners of the bumper though vents.
Then there's that spoiler that acts as a normal body panel when closed and not in use. At 56 mph, the car goes into an "Eco" mode of sorts, and the wing slightly raises to decrease aerodynamic drag. At about 106 mph, the car is clearly focused on performance rather than economy, so the spoiler raises even higher to create more downforce, and the front vents open back up for cooling purposes. According to Porsche, these performance adjustments, in combination with the car lowering itself 10 mm, can help save up to 4 seconds during a Nurburgring lap.
The spoiler aids in other situations, as well. In the 911's new Wet Mode, the spoiler slightly raises to improve traction in slippery conditions. The spoiler also activates and flips all the way up during hard emergency braking situations, which keeps downforce on the rear axle.
Whether the spoiler's look is a positive or negative is up for debate, but its functionality is undeniable. Watch all of these functions in action in the video above.