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2016-04-06

Volvo: Annual General Meeting of AB Volvo

The Annual General Meeting of AB Volvo held on April 6, 2016, approved
the Board of Directors' motions that a dividend of SEK 3.00 per share
be paid to the company's shareholders. The record date for dividends
was decided to be April 8, 2016.

The income statement and balance sheet as well as the consolidated
income statement and the consolidated balance sheet were adopted. In
accordance with the Board of Directors' motion, it was resolved that
a dividend of SEK 3.00 per share would be paid to the shareholders.
April 8, 2016, was decided as the record date for the right to
receive dividends. Disbursement of the dividend by Euroclear Sweden
AB is scheduled to occur on Wednesday April 13, 2016.

The Board Members, Board Deputies and the President were discharged
from liability for their administration during the 2015 fiscal year.

Matti Alahuhta, Eckhard Cordes, James W. Griffith, Kathryn V.
Marinello, Martina Merz, Hanne de Mora, Carl-Henric Svanberg and Lars
Westerberg were reelected as members of the Board. Martin Lundstedt,
Håkan Samuelsson and Helena Stjernholm were elected as new members of
the Board. Carl-Henric Svanberg was reelected as Chairman of the
Board.

Individual fees payable to the members of the Board remain unchanged,
meaning that the Chairman of the Board was allocated SEK 3,250,000
and each of the other members SEK 950,000 with the exception of the
President who does not receive a director's fee. In addition, the
Chairman of the Audit Committee was allocated SEK 300,000, the other
members of the Audit Committee SEK 150,000 each and the Chairman of
the Remuneration Committee was allocated SEK 125,000 and the other
members of the Remuneration Committee SEK 100,000 each.

Bengt Kjell, representing AB Industrivärden, Lars Förberg,
representing Cevian Capital, Yngve Slyngstad, representing Norges
Bank Investment Management, Pär Boman, representing Handelsbanken,
SHB Pension Fund, SHB Employee Fund, SHB Pensionskassa and Oktogonen,
and the Chairman of the Board were elected members of the Election
Committee. The Meeting resolved that no fees shall be paid to the
members of the Election Committee. The Meeting also adopted the
Election Committee's motion to amend the Instructions for the AB
Volvo Election Committee. The changes entail a certain modernization
and update of the language used, as well as an adaptation to include
amendments in the Swedish Corporate Governance Code.

A remuneration policy for senior executives was adopted in accordance
with the Board of Directors' motion.

April 6, 2016

Reporters who would like further information, please contact Kina
Wileke, tel. +46 (0)31-323 7229 or +46 (0)765-537229.

For more stories from the Volvo Group, please visit
http://www.volvogroup.com/globalnews.

The Volvo Group is one of the world's leading manufacturers of trucks,
buses, construction equipment and marine and industrial engines. The
Group also provides complete solutions for financing and service. The
Volvo Group, which employs about 100,000 people, has production
facilities in 18 countries and sells its products in more than 190
markets. In 2015 the Volvo Group's sales amounted to about SEK 313
billion (EUR 33,4 billion). The Volvo Group is a publicly-held
company headquartered in Göteborg, Sweden. Volvo shares are listed on
Nasdaq Stockholm. For more information, please visit
www.volvogroup.com or www.volvogroup.mobi if you are using your
mobile phone.

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http://news.cision.com/volvo/r/annual-general-meeting-of-ab-volvo,c9950680
http://mb.cision.com/Main/39/9950680/497546.pdf

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