Volvo Group Fourth Quarter 2021 Electrification and Financial Report

Volvo Group Adjusted operating income contributors Volvo Group Fourth Quarter 2021 ADJUSTED OPERATING INCOME SEK bn Currency SEK +0.1bn 10.9 0.7 0.6 10.1 -0.3 -0.2 ↑ -0.7 -1.1 Q4 Gross Cash Net R&D Selling Admin Other Q4 2020 Income R&D Cap./Amo. 2021 + Price + Vehicle & service volumes + Used vehicles · Material costs - JV earnings - Industrial productivity - R&D expenses 2022-01-28 20

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