Largest owners

The largest shareholders in AB Volvo, June 30, 2015

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

142,204,571

356,735

142,561,306

6.7%

21.2%

7.02%

22.16%

2. Cevian Capital

86,274,625

87,969,025

174,243,650

8.2%

14.2%

8.58%

14.81%

3. Norges Bank Investment Management

31,564,757

84,778,215

116,342,972

5.5%

6.0%

5.73%

6.24%

4. SHB 2

37,468,754 

4,457,451

41,926,205

2.0%

5.7%

2.07%

5.91%

5. Alecta

23,175,000

55,210,000

78,385,000

3.7%

4.3%

3.86%

4.47%

6. AFA Insurance

21,236,863

3,655,623

24,892,486

1.2%

3.2%

1.23%

3.37%

7. AMF Insurance & Funds

13,625,000

33,505,277

47,130,277

2.2%

2.5%

2.32%

2.64%

8. AP4 Fund

10,842,024

7,947,012

18,789,036

0.9%

1.7%

0.93%

1.81%

9. Swedbank Robur Funds

1,628,783

84,210,617

85,839,400

4.0%

1.5%

4.23%

1.57%

10. Skandia Liv

5,092,575

4,650,007

9,742,582

0.5%

0.8%

0.48%

0.87%

11. SHB Funds

2,702,450

26,359,958

29,062,408

1.4%

0.8%

1.43%

0.83%

12. Harbor Funds Inc

0

49,961,776

49,961,776

2.3%

0.7%

2.46%

0.78%

13. Nordea Funds

48,125

33,510,494

33,558,619

1.6%

0.5%

1.65%

0.53%

14. Didner & Gerge Funds

0

31,714,260

31,714,260

1.5%

0.5%

1.56%

0.49%

15. Volvo Pension Foundations

3,041,795

943,179

3,984,974

0.2%

0.5%

0.20%

0.49%

Volvo Treasury Stock

20,728,135

77,750,795

98,478,930

4.6%

4.3%

0.0%

0.0%

43.8%

67.0%

Registered shares

508,409,047

1,620,011,173

2,128,420,220









Outstanding shares

487,680,912

1,542,260,378

2,029,941,290









Registered votes

508,409,047

162,001,117

670,410,164









Outstanding votes

487,680,912

154,226,038

641,906,950























   
Source: SIS Ägarservice AB 2015-06-30

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