Slide 1: Second Quarter 2024
Slide 2: Second quarter highlights
VOLVO GROUP votLvao Second quarter highlights + Net sales amounted to SEK 140.2 bn with no impact from FX + Adjusted operating income reached SEK 19.4 bn (21.9), corresponding to a margin of 13.9% (15.4) * Operating cash flow in Industrial Operations amounted to SEK 9.1 bn (12.6) * Net cash position
Slide 3: Volume development
VOLVO GROUP votLvao Volume development Volvo Group Second quarter 2024 TRUCK DELIVERIES == 12 months 235' units -8% h 63.8 60.8 Q2 Q3 @4 Qi Q2 Q3 a4 ai 2022 2023 Q2 2024 MACHINE DELIVERIES == 12 months 58' units 22.4 10% Q2 Q@3 Q4 @i Q2 Q3 Q4 Qi Q2 2022 2023 2024 2024-0748
Slide 4: Electrification progress
VOLVO GROUP votLvao Electrification progress Volvo Group Second quarter 2024 ORDER INTAKE, FULLY ELECTRIC VEHICLES == 12 months 5,408 units -16% 1703 1457 1434 Q2 Q3 @4 Qi Q@2 @38 @4 Qt a2 2022 2023 2024 DELIVERIES, FULLY ELECTRIC VEHICLES == 12 months 5,929 units +52% 1789 1176 434 Q2 Q@3 Q4 Qi Q2
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350. 000 15 0 13 0 300. 000 11 0 250. 000 90 200. 000 70 150. 000 50 100. 000 30 50. 000 10 0. 000 -10
Slide 7: Group news
votLvao Group news # * Volvo Group and Daimler Truck intend to form a joint venture for a software-defined vehicle platform to amplify digital transformation * Volvo Group completed the divestment of Arquus on July 2 Volvo Group Second quarter 2024 2024-0748 7
Slide 8: Trucks news
Trucks news * Volvo Trucks is developing trucks with combustion engines that run on hydrogen. On-road tests will begin in 2026 ¢ Renault Trucks decarbonizes its intra-factory logistics with heavy- duty electric trucks * Volvo Group and Isuzu Motors signed a technology agreement within the strategic
Slide 9: Trucks market environment
TRUCKS votLvao Market environment NORTH AMERICA HD EUROPE HD 400 400 300 300 = _ e-\---5 200 j}=f— 200 woo 2023: 331 100 2023: 342’ ° Forecast 2024: 290' ° Forecast 2024: 290’ 02 04 06 08 10 12 14 16 18 20 22 24 02 04 06 08 10 12 14 16 18 20 22 24 BRAZIL HD INDIA HD+MD CHINA HD+MD 150 450 1,800 1,35
Slide 10: Trucks book to bill
TRUCKS — MEDIUM AND HEAVY DUTY Book to bill Medium and Heavy Duty Trucks book to bill 87% in the quarter and 84% 12 months rolling votLvao NORTH AMERICA EUROPE Q2 Q3 Q4 QI Q2 Q3 Q4 QI Q2 2022 2023 2024 Q2 Q3 Q4 QI Q2 Q3 Q4 Qi Q2 2022 2023 2024 — Base line, 100% = Book to Bill, % = = Book to Bill 12M
Slide 11: Includes content supplied by IHS Markit . Copyright © IHS Markit (2022). All rights
Includes content supplied by IHS Markit . Copyright © IHS Markit (2022). All rights reserved.
Slide 12: Construction Equipment news
votLvao Construction Equipment news * Volvo Construction Equipment unveiled its biggest product renewal launch ever * Investments in Braas, Sweden to accelerate electrification of articulated haulers Volvo Group Second quarter 2024 2024-07-48 12
Slide 13: Construction Equipment market environment
votLvao CONSTRUCTION EQUIPMENT Market environment NORTH AMERICA EUROPE \ 250 250 3 200 200 ¥ 150 —< 450 A 100 |Z == 100 > 50 50 Forecast 2024: -10% to 0% Forecast 2024: -25% to-15% co) co) . 04 06 08 10 12 14 16 18 20 22 24 04 06 08 10 12 14 16 18 20 22 24 SOUTH AMERICA ASIA (excl. CHINA) CHINA 100
Slide 14: Construction Equipment book to bill
CONSTRUCTION EQUIPMENT Book to bill votLvao Construction equipment book to bill 89% in the quarter and 87% 12 months rolling NORTH AMERICA ae 74 > hati eer ree Q2 Q3 Q4 Qi Q2 Q3 Q4 QI Q2 2022 2023 2024 EUROPE Q2 Q3 Q4 QI Q2 Q3 Q4 Qi Q2 2022 2023 2024 . 3 \ & = Book to Bill, % —— Baseline, 100% = = B
Slide 15: Buses
votLvao Buses * Volvo Buses introduced a range of smart safety systems to assist drivers and improve safety * Restructuring of the business model in Europe progressing well * Book to bill 84% in the quarter and 93% 12 months rolling Volvo Group Second quarter 2024 2024-0748 6
Slide 16: Volvo Penta
votLvao Volvo Penta * A fully electric RoRo tractor developed in collaboration with MOL in Belgium * Volvo Penta Inboard Performance System (IPS) now being installed also into retrofitted, electric crew transfer vessels * Book to bill 76% in the quarter and 84% 12 months rolling Volvo Group Second q
Slide 17: Financial Services
votLvao Financial Services NEW RETAIL FINANCING & PENETRATION RATE* SEK bn =" Penetration rate 12 months 28 % * Portfolio growth across most markets : + sas, —— 29.2 * Penetration levels good in a competitive market 26.0 =" 87.7 * Stable performance and good earnings Q2 Q3 Q4 Qi Q@2 Q3 Q4 QI Q2 2022
Slide 18: Second Quarter 2024 - CFO
Slide 19: Net sales per market
VOLVO GROUP Net sales per market Volvo Group Second quarter 2024 NET SALES SEK bn votLvao 7 3.0 140.2 0.0 140.2 Q2 2023 Europe North South America America Asia Africa Q22024 FX Q22024 and excl FX Oceania 2024-0748 19
Slide 20: Adjusted operating income contributors
votLvao VOLVO GROUP Adjusted operating income contributors ADJUSTED OPERATING INCOME SEK bn “a2 ~ + Price realization + Freight cost Volume R&D expenses Brand and market mix Selling expenses Q2 Gross Cash NetR&D Selling Admin Other @2 FX Qa 2023 Income R&D Cap./Amo. 2024 2024 exel FX Volvo Group Sec
Slide 21: Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
41.3% 30.2% 26.8% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024
Slide 22: Trucks net sales and adjusted operating income
Trucks votLvao Net sales and adjusted operating income NETSALES ==12 months SEK 375 bn SEK bn H% (excl. i +2%) 93.7 95.1 78.6 a2 a3 a4 ai a2 a3 a4 at a2 2022 2023 2024 Volvo Group Second quarter 2024 ADJUSTED OPERATING INCOME SEK bn + Price realization 14.9 + Freight cost + Product mix 13.3 Ny - Vol
Slide 23: Construction Equipment net sales and adjusted operating income
votLvao Construction Equipment Net sales and adjusted operating income NETSALES == 12 months SEK 98 bn SEK bn 16% (excl. FX -16%) f ——" 2 25.8 24.4 Q2 Q3 Q4 QI G2 Q3 Q4 Qi Q2 2022 2023 2024 Volvo Group Second quarter 2024 ADJUSTED OPERATING INCOME SEK bn 5.4 an + Price realization + R&D expenses + M
Slide 24: Buses net sales and adjusted operating income
votLvao Buses Net sales and adjusted operating income NETSALES —=12 months SEK 24 bn ADJUSTED OPERATING INCOME SEK bn +21% SEKM (excl. FX +19%) \ 6.6 5.4 4 + Price realization ba 4A + Volumes + Market and product mix 219 Ny - Industrial efficiency Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi a2 Q2 Q2 2022 2023 2024 2023
Slide 25: Volvo Penta net sales and adjusted operating income
Volvo Penta votLvao Net sales and adjusted operating income NET SALES ==12 months SEK 20 bn SEK bn 4% (excl. x -3%) i 1 5.4 5.2 4.6 Q2 @3 Q4 Qi @2 @3 Q@4 Qi Q2 2022 2023 2024 Volvo Group Second quarter 2024 ADJUSTED OPERATING INCOME SEKM 1016 804 + Price realization + Product mix - Volume Ny - R&D e
Slide 26: Financial Services credit portfolio and profitability
votLvao Financial Services Credit portfolio and profitability CREDIT PORTFOLIO & ROE* ADJUSTED OPERATING INCOME* SEKbn ROE 12 months 13,6% SEKM 271 252 1,028 916 192 + Portfolio growth J Credit provisions Q2 Q3 Q4 Qi @2 @3 @4 QI Q2 Q2 Q2 2022 2023 2024 2023 2024 Volvo Group Second quarter 2024 ADJUS
Slide 27: Second quarter highlights
VOLVO GROUP votLvao Second quarter highlights + Net sales amounted to SEK 140.2 bn with no impact from FX + Adjusted operating income reached SEK 19.4 bn (21.9), corresponding to a margin of 13.9% (15.4) * Operating cash flow in Industrial Operations amounted to SEK 9.1 bn (12.6) * Net cash position
Slide 28: Capital Markets Day November 14, 2024
Slide 29: Volvo
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