The Nomination Committee's proposal for election of members to the Board of Directors of Volvo Car AB (publ)

The Nomination Committee of Volvo Car AB (publ) has decided to submit the following proposals for resolution at the Annual General Meeting of shareholders on March 26, 2024:

• The Board of Directors shall comprise nine members without any deputy members.
• Re-election as members of the Board of Directors: Eric Li (Li Shufu), Daniel (Donghui) Li, Lone Fönss Schröder, Jonas Samuelson, Diarmuid O’Connell, Lila Tretikov, Jim Rowan, Anna Mossberg and Ruby Lu.
• Eric Li to be re-elected as Chairperson of the Board of Directors and Lone Fönss Schröder as Vice Chairperson.

If the Nomination Committee’s proposal is approved by the Annual General Meeting, 44 per cent of the board members will be women.

The Nomination Committee consists of:

• Tom Johnstone, appointed by Geely Sweden Holdings AB
• Yimin Chen, appointed by Geely Sweden Holdings AB
• Eric Li, Chairperson of the Board of Directors of Volvo Car AB
• Anders Oscarsson, appointed by AMF
• Emilie Westholm, appointed by Folksam

Tom Johnstone is the Chairperson of the Nomination Committee.

Information about the Nomination Committee’s statement and the complete proposal will be made available on the Volvo Car investor relations website on 23 February 2024 when the notice to the Annual General meeting is published, https://investors.volvocars.com.