Largest owners

The largest shareholders in AB Volvo, June 30, 2014

Holding of
Owner
Holding of
A-shares
Holding of
B-shares
Holding of
A+B-shares
Registered Outstanding
Capital Votes Capital Votes
1. Industrivärden

142,034,571

3,353,709

 145,388,280

6.8%

21.1%

7.2%

22.0%

2. Cevian Capital

 84,383,884

 18,120,311

 102,504,195

4.8%

12.8%

5.1%

13.3%

3. Norges Bank Investment Management

31,082,673

101,001,492

132,084,165

6.2%

6.1%

6.5%

6.4%

4. SHB 2

37,362,462

1,328,929

38,691,391

1.8%

5.6%

1.9%

5.8%

5. Alecta

23,175,000

66,310,000

89,485,000

4.2%

4.4%

4.4%

4.6%

6. AFA Insurance

21,973,263

1,799,283

23,772,546

1.1%

3.3%

1.2%

3.4%

7. AMF Insurance & Funds

13,150,000

47,510,286

60,660,286

2.9%

2.7%

3.0%

2.8%

8. AP4 Fund

10,892,756

4,918,156

15,810,912

0.7%

1.7%

0.8%

1.8%

9. Swedbank Robur Funds

2,403,075

88,472,519

90,875,594

4.3%

1.7%

4.5%

1.7%

10. Skandia Liv

6,743,279

6,670,834

13,414,113

0.6%

1.1%

0.7%

1.1%

11. SHB Funds

4,264,195

29,777,742

34,041,937

1.6%

1.1%

1.7%

1.1%

12. Harbor Funds Inc

0

49,961,776

49,961,776

2.3%

0.7%

2.5%

0.8%

13. Nordea Funds

715,455

33,637,017

34,352,472

1.6%

0.6%

1.7%

0.6%

14. Volvo Pension Foundations

3,428,145

727,835

4,155,980

0.2%

0.5%

0.2%

0.5%

15. SEB Funds / Trygg Life Insurance 1

689,834

24,237,949

24,927,783

1.2%

0.5%

1.2%

0.5%

Volvo Treasury Stock

20,728,135

79,568,605

100,296,740

4.7%

4.3%

0.0%

0.0%

42.4%

66.6%

Registered shares

 513,115,548

1,615,304,672

2,128,420,220









Outstanding shares

492,387,413

1,535,736,067

2,028,123,480









Registered votes

513,115,548

161,530,467

674,646,015









Outstanding votes

492,387,413

153,573,607

645,961,020























   
Source: SIS Ägarservice AB 2014-06-30

One Volvo A share equals one vote. One Volvo B share equals 1/10 of one vote.
1 Comprises SEB funds and SEB and SEB-Trygg Life Insurance.
2 Comprises shares held by SHB, SHB Pension Fund, SHB Employee Fund, SHB pensionskassa and Oktogonen

Dividends are the same for both classes of shares.

In December 2007, as a result of high cost and low liquidity, Volvo de-listed from the NASDAQ Exchange. Thus, the ADR program was changed from a Level III stock that is listed on the NASDAQ, to a Level I stock that trades OTC (Over the Counter) with the new ticker symbol VOLVY.

For more information about the ADR program, please contact the Volvo Group's Investor Relations department in New York.

ISIN codes:
VOLV A: SE0000115420
VOLV B: SE0000115446
ADR Cusip:
VOLV Y: 928856400