Volvo Group in agreement with CNHTC to sell its equity interest in Jinan Huawo Truck Corporation

The Volvo Group, Sinotruck (BVI) Limited and China National Heavy Duty Truck Group Corporation (CNHTC) have signed an agreement whereby Sinotruck (BVI) Limited, a wholly owned subsidiary of China National Heavy Duty Truck Group Corporation, and CNHTC agrees to purchase all of Volvo Group’s equity interest in Jinan Huawo Truck Corporation (Joint Venture), in which Volvo Group currently holds a 50-percent equity interest. The agreement is subject to approval by the P.R.C. authorities.

The partnership commenced in 2003, the Joint Venture has for various reasons not become the business success that both parties had expected. The newly signed agreement describes detailed arrangements of the withdrawal of Volvo Group from the Joint Venture. November 16, 2009 Reporters who want more information, please contact Mårten Wikforss, AB Volvo, +46 31 66 11 27 or +46 705 59 11 49 Investor Relations: Christer Johansson, AB Volvo, tel +46 31 66 13 34 Patrik Stenberg, AB Volvo, tel +46 31 66 13 36 Anders Christensson, AB Volvo, tel +46 31 66 11 91 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. AB Volvo (publ) may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 0900 a.m. November 16.