Change in number of shares and votes in Volvo Cars

Press release

30 November 2021

In connection with the listing of Volvo Cars on Nasdaq Stockholm on 29 October 2021, extraordinary general meetings held on 17 October 2021 and 27 October 2021, respectively, resolved on directed issues of 479,524,179 common shares of class B in total. The new share issues have been registered with the Swedish Companies Registration Office during November 2021. In addition, during November 2021, 1,863,207,500 common shares of class A were converted to the corresponding number of common shares of class B.

As a result of the directed share issues and the conversion, the number of shares in Volvo Cars has increased by 479,524,179 in total and the number of votes has decreased by 16,289,343,321 in total. As of 30 November 2021, there are 2,979,524,179 shares in total in Volvo Cars, whereof all are common shares of class B, corresponding to 2,979,524,179 votes.

For more information, please contact:

Volvo Cars Media Relations

+46 31-59 65 25

media@volvocars.com

Volvo Cars Investor Relations

Anna Oxenstierna

+46 31-59 00 00

investors@volvocars.com

This information is information that Volvo Car AB (publ) is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08:00 CET, 30 November 2021.