New President of Volvo Business Services

Regulatory News:

Volvo (STO:VOLVA)(STO:VOLVB):

Elisabeth Rocke has been appointed the new President of Volvo Business Services, VBS, a business unit within the Volvo Group. She will assume her duties on September 1.

Elisabeth Rocke, 50, is since 2007 responsible for Human Resources within Volvo Buses and has worked for several years in the Volvo Group, where she held positions in HR and finances. She was previously HR Manager for Volvo Powertrain and held several managerial positions within the Volvo Group’s financing operations. She also has experience from outside of Volvo from Sahlgrenska University Hospital.

Elisabeth Rocke will report to Mikael Bratt, Senior Vice President & CFO, Volvo Group.

Volvo Business Services is a business unit within the Volvo Group, which provides global services in business administration and HR.

May 19, 2010

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The Volvo Group is one of the world’s leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 90,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. In 2009 annual sales of the Volvo Group amounted to about SEK 218 billion. The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.

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