Divestiture of Volvo Rents completed

The previously announced divestiture of Volvo Rents was completed on January 31
2014. The price amounted to USD 1,1 billion, corresponding to SEK 7 billion, and
will have a positive impact on the Group’s cashflow and net financial debt
within the industrial operation in the first quarter of 2014 with the same
amount. The previously announced write down of SEK 1,5 billion will affect the
operating income for the fourth quarter 2013
Volvo Rents, formed in 2001, offers rental of a comprehensive range of machines
intended for the construction and engineering industry, including Volvo CE
products. Volvo Rents has operations in the US, Canada and Puerto Rico and has
about 2,100 employees.

All of Volvo Rents’ employees will remain with the company as it is sold. Volvo
Rents’ customers will not be affected by the transaction, and Volvo Construction
Equipment will continue to sell products to Volvo Rents under the new ownership.

February 3, 2014

Journalists who wish further information, please contact Karin Wik, + 46 31 323
72 29

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

AB Volvo (publ) may be 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 at 08.00 am CET,February 3,
2014.