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Second Party Opinion: Volvo Car AB – Green Framework (Methodology of Shades of Green, formerly part of CICERO)

This report was produced by Shades of Green. On December 1, 2022, S&P Global acquired Shades of Green from CICERO.

Volvo Car AB and its consolidated subsidiaries (“Volvo Cars”) is a global automotive company, headquartered in Gothenburg, Sweden. Under its framework, Volvo Cars will finance or refinance the research and development and production of electric vehicles.