0001144204-07-067408 Sample Contracts

AMENDMENT NO. 1 TO DEPOSIT AGREEMENT
Deposit Agreement • December 13th, 2007 • Aktiebolaget Volvo \Publ\ • Motor vehicles & passenger car bodies • New York

AMENDMENT NO. 1, dated as of December , 2007 (the “Amendment”), to the Amended and Restated Deposit Agreement dated as of February 22, 2005 (as so amended hereby, the "Deposit Agreement"), among Aktiebolaget Volvo, a company incorporated in Sweden (the "Company"), JPMorgan Chase Bank, N.A., as depositary (the "Depositary"), and all Holders from time to time of American Depositary Receipts issued thereunder ("ADRs") evidencing American Depositary Shares ("ADSs") representing deposited Shares.

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