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Accelerating the sustainable transformation 100% fossil-free fuel In order to deliver on our commitment to the Paris Agreement, the entire running fleet, provided by Volvo Group, needs to run on 100% fossil-free fuel by 2050. → To contribute to an emissions-free future, there will be a steady shift into electric propulsion, and combustion engines will run on biofuel. → Our ambition is for 100% of our products to be driven by fossil-free fuels by 2040, as our products have an average life-span of 10 years. Volvo Group Company Presentation 2021 100% COMBUSTION ENGINE SHARE OF NEW VEHICLES ELECTRIC PROPULSION 0% 2020 2030 2040 2050 9/23/21 13

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