Change in Volvo’s Group Executive Committee

Tony Helsham, Senior Vice President responsible for coordinating the Volvo Group’s aftermarket business, will be leaving the Group Executive Committee on March 31, 2010.

Tony Helsham, 56, has worked at Volvo since 1985 and held several positions in the Construction Equipment division during his extensive career with the Group. His positions have included being responsible for the integration of Samsung’s excavator equipment operations, following Volvo’s acquisition of the business in 1998. From 2000 to 2008, he was President of Volvo Construction Equipment. “I have had 25 fantastic years with Volvo, but after living outside my native country, Australia, for 32 years, I began to feel that it is time to return closer to home and my family,” says Tony Helsham. “Tony Helsham has worked for the Group in Hong Kong, as well as North America, South Korea, Belgium and Sweden and I want to take the opportunity to thank him for his excellent input during his many years at Volvo,” says Volvo’s CEO Leif Johansson. Volvo will be conducting a review to determine how the matter of a successor will be resolved. February 26, 2010 For more information, please contact Mårten Wikforss, +46 (0)31-66 11 27 or +46 705 59 11 49. Visit http://www.thenewsmarket.com/volvogroup to access broadcast-standard video from Volvo Group. You can preview and request video, and choose to receive as a MPEG2 file or by Beta SP tape. Registration and video is free to the media.