Volvo Group Fourth Quarter 2021 Electrification and Financial Report

Trucks Net sales and adjusted operating income H NET SALES SEK bn 12 months SEK 225.4 bn ADJUSTED OPERATING INCOME SEK bn 61.5 55.4 +21% (excl. FX +21%) 8.0 67.2 ↑ + Price Q4 2019 Q1 Q2 Q3 Q4 2020 Q1 Q2 Q3 Q4 2021 Q4 2020 Net sales restated for UD Trucks divestment WowthGroaper 2021 + Vehicle & service volumes + Used trucks Material costs - JV earnings - Product & market mix - R&D expenses ADJUSTED OPERATING INCOME SEK bn (margin)* 12 months 11.1% Currency SEK -0.2 bn 8.0 (13.0%) 6.9 6.2 (9.1%) 6.9 (10.3%) Q4 2021 Q4 2019 Q1 Q2 Q3 Q4 Q1 Q2 2020 Q3 Q4 2021 *For information on adjustments, see note 7 in the quarterly report 2022-01-28 22

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