Largest owners

The largest shareholders in AB Volvo, December 30, 2013

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

131,506,918

1,259,531

 132,766,449

6.2%

19.4%

6.5%

20.2%

2. Cevian Capital

 68,725,468

 29,776,795

 98,502,263

4.6%

10.5%

4.9%

11.0%

3. Norges Bank Investment Management

31,564,757

 96,780,436

128,345,193

6.0%

6.1%

6.3%

6.3%

4. SHB 2

37,580,009

2,888,040

 40,468,049

1.9%

5.6%

2.0%

5.8%

5. Alecta

23,175,000

 55,710,000

78,885,000

3.7%

4.2%

3.9%

4.4%

6. AMF Insurance & Funds

24,275,703

41,174,663

 65,450,366

3.1%

4.2%

3.2%

4.4%

7. AFA Insurance

23,670,063

1,140,403

 24,810,466

1.2%

3.5%

1.2%

3.7%

8. AP4 Fund

10,914,299

 12,436,667

 23,350,966

1.1%

1.8%

1.2%

1.9%

9. Swedbank Robur Funds

2,803,655

91,185,399

 93,989,054

4.4%

1.8%

4.6%

1.8%

10. Skandia Liv

 10,981,656

4,849,504

 15,831,160

0.7%

1.7%

0.8%

1.8%

11. Nordea Funds

 4,758,182

36,607,928

 41,366,110

1.9%

1.2%

2.0%

1.3%

12. SHB Funds

 2,946,682

29,891,972

 32,838,654

1.5%

0.9%

1.6%

0.9%

13. AP3 Pension Fund

 4,486,162

 11,451,014

 15,937,176

0.7%

0.8%

0.8%

0.9%

14. SEB Funds / Trygg Life Insurance 1

 2,309,074

32,422,644

 34,731,718

1.6%

0.8%

1.7%

0.9%

15. Capital Group Funds

 0

53,148,880

 53,148,880

2.5%

0.8%

2.6%

0.8%

Volvo Treasury Stock

20,728,135

 79,592,353

 100,320,488

4.7%

4.2%

0.0%

0.0%

43.4%

66.0%

Registered shares

 519,298,953

1,609,121,267

 2,128,420,220









Outstanding shares

 498,570,818

1,529,528,914

2,028,099,732









Registered votes

519,298,953

160,912,127

680,211,080









Outstanding votes

 498,570,818

152,952,891

651,523,709























   
Source: SIS Ägarservice AB 2013-12-30
Last updated: 2014-01-24

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