Volvo Statement On Ceasing Operations in russia in February 2022

Volvo Cars has great sympathy with people affected by the war in Ukraine. Following russian full-scale invasion of Ukraine, Volvo Cars' humanitarian aid to Ukrainians amounted to over 1 million EUR. The company actively collaborates with UNICEF to help children affected by the war.

Volvo Cars was among the first carmakers to suspend its operations in russia in February 2022. The decision to suspend operations was followed by the process to wind down the Russian subsidiary last year.

Volvo Cars is listed on the Swedish stock exchange and follow Swedish and EU-governed laws and regulations.

Volvo Cars does not comment on the decisions and actions of other companies, including Volvo Cars` shareholders, but condemns the war initiated by Russia against the Ukrainian people.

The statement is published on Volvo Cars' official website: 

www.media.volvocars.com/global/en-gb/media/pressreleases/316392/statement-regarding-ukrainerussia

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The official importer of Volvo cars in Ukraine is Winner Imports Ukraine Ltd., part of Winner Group Ukraine. In the first days of the war, Winner Group Ukraine transferred 12 mln UAH to the account of the Armed Forces of Ukraine and provided more than 190 new and used vehicles, with a total value of over 2.3 mln EUR. Later, together with partners, Winner Group Ukraine delivered over 130 SUVs for Ukrainian defenders.

More than 1.7 mln UAH were transferred to the CO "Come Back Alive", international CFs "Food Foundation Ukraine", "Caritas Ukraine" etc. Additionally, Winner Group Ukraine transferred over 5.6 mln UAH to purchase protective equipment and ammunition for the military. In 2022-2023, the total amount of Winner's material and financial support of the Armed Forces of Ukraine, other military formations, and charitable organizations exceeded 145 mln UAH.