About UD Trucks Corporation Since its founding in 1935, UD Trucks has been a key player in Japan’s transport and logistics industry as a commercial truck manufacturer. The Company currently provides high-performance trucks and services in response to the needs of customers in over 60 countries worldwide. Company overview (As of September 30, 2020, unless otherwise stated) Products and services provided by UD Trucks Company name UD Trucks Corporation Date of foundation December 1, 1935 Head ofce address 1-1, Ageo-shi, Saitama 362-8523, Japan Capital 77.5 billion yen UD Trucks Number of employees 6,442 employees including contract and temporary Sales of Quon heavy-duty trucks, Condor employees (as of December 31, 2019) medium-duty trucks, and Kazet light-duty trucks to Japan and other mature markets, and Quester Main business Japanese business heavy-duty trucks, Croner medium-duty trucks, Development, manufacture, export, and sales of and Kuzer light-duty trucks to emerging markets heavy-duty trucks; sales of medium- and light-duty trucks; manufacture and sales of vehicle components; maintenance and sales of service parts for trucks and buses; import and sales of Volvo brand products. Volvo Trucks Businesses outside of Japan Sales of imported Volvo brand heavy-duty trucks to Development, manufacture, and sales of heavy-, the Japanese market, including Volvo FH 4x2 and 6x4 medium-, and light-duty trucks for growth markets; tractors, and Volvo FMX 6x4 and 8x4 dump trucks manufacture and sales of vehicle components; maintenance and sales of service parts for trucks and buses. Domestic group companies VFS Japan Co., Ltd.; New-Mech Co., Ltd. Volvo Penta Sales of imported Volvo Penta brand industrial Main locations outside of Japan UD Trucks Singapore Ofce; UD Trucks Bangkok Plant and marine engines to the Japanese market, including forklift and pleasure craft engines, and installation and technical support for original equipment manufacturers Officers Volvo Construction Equipment Marketing and support for dealers selling Volvo brand construction equipment to the Japanese market, including hydraulic excavators, wheel Joachim Rosenberg Takamitsu Sakamaki Jan Gurander Masahiro Otsuki loaders, articulated dump trucks, and Chairman and President and Director Auditor related machinery representative director representative director History Decade Company history Technical development and product launches 1930 1935 Originally established as Nihon Diesel Industries, 1938 First diesel engine Ltd., in the city of Kawaguchi, Saitama Prefecture 1939 First diesel truck 1940 1942 Renamed as Kanega-Fuchi Diesel Co., Ltd. 1946 Renamed as Minsei Sangyo Co., Ltd. 1950 1950 Renamed as Minsei Diesel Industries, Ltd. 1955 Proprietary UD Engine, a powerful lightweight diesel engine 1958 6TW model truck, the rst in Japan with a load capacity exceeding 10 tons 1960 1960 Renamed as Nissan Diesel Motor Co., Ltd. 1962 Commenced operations of the Ageo Plant 1970 1975 Condor medium-duty truck 1990 1990 Big Thumb heavy-duty truck 2000 2007 Joined the Volvo Group 2004 Quon agship heavy-duty truck 2010 2010 Renamed as UD Trucks Corporation 2013 Quester heavy-duty truck for emerging markets 2014 Absorbed sales subsidiary UD Trucks 2014 Kazet light-duty truck Japan Corporation 2017 New Quon and Condor truck models Croner medium-duty truck and Kuzer light-duty truck for emerging markets 21 About the Volvo Group UD Trucks is a member of the Volvo Group, a global enterprise headquartered in Gothenburg, Sweden. The Volvo Group manufactures trucks, buses, construction equipment, and marine and industrial engines, while also providing nancial services. Employing about 100,000 people worldwide, the Group manufactures its products at factories in 18 countries and sells them in more than 190 markets. Volvo products in everyday life On the road Off road In the city At sea The Volvo Group’s vehicles are The Volvo Group’s engines, The Volvo Group’s vehicles play The Volvo Group’s marine engines widely used throughout the machines and vehicles operate in important roles in daily life and are widely used for a diverse range transport industry, delivering food construction sites, mines, and public transportation systems. of vessels at sea, including to households and materials to forests, while its irrigation They include buses that take transport ships, pleasure boats, production plants, enabling people equipment is deployed on people to work and school, and and rescue boats. to travel to their destinations, and agricultural land all over the world. trucks used for collecting rubbish building roads to drive on. and maintaining infrastructure. Volvo’s basic approach to CSR • Driving prosperity through “Driving prosperity through transport solutions” is the transport solutions Volvo Group’s mission. To fulll it, the Group has • Be the most desired and successful formulated a vision backed by specic aspirations for all of transport solution provider in the world its employees. To foster a corporate culture underpinning Mission • Have leading customer satisfaction for this future direction, the Volvo Group is promoting values all brands in their respective segments • Be the most admired employer for every employee to share and integrate in all Vision in our industry operations, with a view to grow its business while helping • Have industry leading protability make the world more sustainable. It has also created the Aspirations • Customer success Volvo Group Code of Conduct to specify basic principles • Trust Values • Passion and conduct for all employees to follow, and clearly • Change explain business ethics and compliance-related issues • Performance Volvo Group Code of Conduct relevant to all business activities. Results of key performance indicators in 2019 Net sales (SEK bn) Operating income (SEK bn) Share of net sales by market 49.5 Africa and Oceania Europe 432 391 6% 38% 333 34.5 Asia 313 302 29.7 19% 23.3 South America North America 20.8 7% 30% Share of net sales by revenue type Financial services 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 3% Total number of employees Total CO2 emissions Services Vehicles 103,985 0.8 tons/SEK M 20% 77% Share of women Energy consumption 19% 5.1 MWh/SEK M SEK refers to the Swedish krona; 1 krona was worth approximately 12.2 US dollar as of November 30, 2020. 22.