Repurchase of shares in Volvo Car AB (publ) during the period 12 August – 16 August 2024

Volvo Car AB (publ) (LEI code: 5299000EAMGGBEYP7J33) (“Volvo Cars”) has during the period 12 August – 16 August 2024 repurchased a total of 2,014,873 own shares of series B (ISIN code: SE0021628898) as part of the repurchase programme resolved by the Board of Directors in order to ensure future delivery of shares to participants in Volvo Cars’ Performance Share Plans and Employee Share Matching Plans adopted by the Annual General Meeting in 2022 and 2023. Pursuant to the repurchase programme, a maximum of 6,500,000 shares of series B may be repurchased for a total maximum amount of SEK 300 million.

The repurchases have been conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”).

Shares in Volvo Cars have been repurchased (in SEK) as set out below:

All acquisitions have been made on Nasdaq Stockholm by Skandinaviska Enskilda Banken AB (publ) on behalf of Volvo Cars. After the above acquisitions, Volvo Cars’ holding of own shares as of 16 August 2024 amounts to 2,014,873 shares of series B. The total number of shares in Volvo Cars amounts to 2,979,524,179 shares of series B.

Full details of the transactions carried out under Article 5(3) of MAR and Article 2(3) of the Safe Harbour Regulation are attached to this press release.

For further information please contact:

Volvo Cars Media Relations
+46 31-59 65 25
media@volvocars.com

Volvo Cars Investor Relations
John Hernander
+46 31-793 94 00
investors@volvocars.com

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Volvo Cars in 2023 

For the full year 2023, Volvo Car Group recorded a record-breaking core operating profit of SEK 25.6 billion. Revenue in 2023 amounted to an all-time high of SEK 399.3 billion, while global sales reached a record 708,716 cars.

About Volvo Car Group 

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.

"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker by 2030 and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040. 

As of December 2023, Volvo Cars employed approximately 43,400 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).