Investor Presentaiton

INDIAN SCALING UP - CV INDUSTRY RAPIDLY MODERNIZING, AT CUSP OF GROWTH GDP Growth % 8.7 8.2 8.0 8.2 7.5 7.4 7.1 6.9 6.8 6.3 3.7 Fastest growing large economy 3.5 trillion USD in FY'23* Formalization of Economy; highly successful integrated tax regime. Tax collection growth of 48% in last 3 years Policy focus on Modernization, Make in India -"Atmanirbhar Bharat", Logistics efficiency -"Gati Shakti" Risks due to externalities: geo-politics, supply chain disruptions, commodity inflation, global slowdown Robust institutional framework making India a preferred destination for foreign investments FY'15 FY'16 FY'17 FY'18 Thousands 700 600 500 400 300 200 INVESTOR PRESENTATION May 2023 VOLVO 100 FY 19 FY'20 FY'21 FY'22 FY'23F FY'24F FY'25F FY'26F -6.6 Total CV Market 0 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 * FY'25 * FY"26 * VE COMMERCIAL VEHICLES A VOLVO GROUP AND EICHER MOTORS JOINT VENTURE EICHER 58

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