Annual General Meeting of AB Volvo

The Annual General Meeting of AB Volvo held on April 1, 2015, approved the Board
of Directors’ motions that a dividend of SEK 3.00 per share be paid to the
company’s shareholders. The record date for dividends was decided to be April 7,
2015.
The income statement and balance sheet as well as the consolidated income
statement and the consolidated balance sheet were adopted. In accordance with
the Board of Directors’ motion, it was resolved that a dividend of SEK 3.00 per
share would be paid to the shareholders. April 7, 2015, was decided as the
record date for the right to receive dividends. Disbursement of the dividend by
Euroclear Sweden AB is scheduled to occur on Friday April 10, 2015.

The Board Members, Board Deputies and the President were discharged from
liability for their administration during the 2014 fiscal year.

Matti Alahuhta, James W. Griffith, Kathryn V. Marinello, Hanne de Mora, Anders
Nyrén, Carl-Henric Svanberg, Olof Persson and Lars Westerberg were reelected as
members of the Board. Martina Merz and Eckhard Cordes were elected as new
members of the Board. Carl-Henric Svanberg was reelected as Chairman of the
Board.

Individual fees payable to the members of the Board remain unchanged, meaning
that the Chairman of the Board was allocated SEK 3,250,000 and each of the other
members SEK 950,000 with the exception of the President who does not receive a
director’s fee. In addition, the Chairman of the Audit Committee was allocated
SEK 300,000, the other members of the Audit Committee SEK 150,000 each and the
Chairman of the Remuneration Committee was allocated SEK 125,000 and the other
members of the Remuneration Committee SEK 100,000 each.

Carl-Olof By, representing AB Industrivärden, Lars Förberg, representing Cevian
Capital, Yngve Slyngstad, representing Norges Bank Investment Management, Håkan
Sandberg, representing Svenska Handelsbanken, SHB Pension Fund, SHB Employee
Fund, SHB Pensionskassa and Oktogonen, and the Chairman of the Board were
elected members of the Election Committee. The Meeting resolved that no fees
shall be paid to the members of the Election Committee.

A remuneration policy for senior executives was adopted in accordance with the
Board of Directors’ motion.

April 1, 2015

Reporters who wish further information, please contact Kina Wileke, tel. +46
(0)31-323 7229 or +46 (0)765-537229.

Please visit the Volvo Group Sustainability Report
2014 (http://www.volvogroup.com/GROUP/GLOBAL/EN
-GB/RESPONSIBILITY/SUSTAINABILITY_REPORTS/Pages/sustainability_reports.aspx).

The Volvo Group is one of the world’s leading manufacturers of trucks, buses,
construction equipment and marine and industrial engines. The Group also
provides complete solutions for financing and service. The Volvo Group, which
employs about 100,000 people, has production facilities in 19 countries and
sells its products in more than 190 markets. In 2014, the Volvo Group’s sales
amounted to about SEK 283 billion. Volvo shares are listed on Nasdaq Stockholm.
For more information, please visit www.volvogroup.com or www.volvogroup.mobi if
you are using your mobile phone.