Changes in Volvo Group financial reporting

As of January 1, 2012, the Volvo Group has introduced a new functional
organization, which better utilizes the global potential of the Group’s brands
and products, and a new financial framework to reflect the changes in the
organization. The new framework impacts to some extent how revenues and expenses
are reported between the different reportable segments. However, the Volvo
Group’s consolidated net sales and operating income remains unchanged. Financial
information for 2011 has been restated to facilitate comparison.
The reportable segments remain the same, but some revenues and expenses have
been transferred between the different segments as a result of the new
organization. Some expenses have also been been reclassified within the income
statement.

Restated income statements and details on the impact on the Volvo
Group’s reportable segments are attached.

Excel files are available for
download on www.volvogroup.com (http://www.volvogroup.com/group/global/en
-gb/investors/reports/document_library/Pages/document_library.aspx)

April 5,
2012

Reporters who want more information, please contact Christer
Johansson
+46 31 66 13 34 or +46 739 02 25 22.

For more stories from the
Volvo Group, please visit http://www.volvogroup.com/globalnews.

The Volvo
Group is one of the world’s leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial applications and
aerospace components. The Group also provides complete solutions for financing
and service. The Volvo Group, which employs about 115,000 people, has production
facilities in 20 countries and sells their products in more than 190 markets. In
2011 annual sales of the Volvo Group amounted to about SEK 310 billion. The
Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo
shares are listed on OMX Nordic Exchange Stockholm. For more information, please
visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile
phone

AB Volvo (publ) is required to disclose the information provided herein
pursuant to the Securities Markets Act and/or the Financial Instruments Trading
Act. The information was submitted for publication for publication at 12:30 a.m.
April 5, 2012.