Autoliv settles outstanding equity units – issues shares

(Stockholm, May 1, 2012)  –  –  –  Autoliv, Inc. (NYSE: ALV and SSE: ALIV SDB) –
the worldwide leader in automotive safety systems  – today announced the
settlement of all of its remaining Equity Units, resulting in an increase of the
number of outstanding shares to approximately 95.3 million. The Equity Units
(traded as Corporate Units – ALV.PRZ - CUSIP 052800208) will no longer be traded
on the New York Stock Exchange.
On April 30, 2012, Autoliv, Inc. (the “Company”) settled the purchase contracts
forming a part of its Equity Units issued in 2009 by delivering 5.8 million
shares of its common shares to Equity Units holders. In return, the Company
received approximately $106 million in cash. As a result of the settlement, the
Company’s net cash position and its stockholders’ equity were increased by
approximately $106 million, while the total number of shares outstanding
increased from approximately 89.5 million to 95.3 million.

As already
announced, the Company successfully remarketed the debt component of the Equity
Units on March 15, 2012. This remarketing is expected to reduce the Company’s
interest expense net by $11 million in 2012 compared to last
year.

Background:

On March 30, 2009, Autoliv issued 6.6 million Equity
Units consisting of forward purchase contracts and senior notes due 2014. In
2010, Autoliv repurchased and accelerated the settlement of approximately 2.3
million Equity Units. The approximately 4.3 million Equity Units remaining have
now been settled in accordance with the original
agreement.

Inquiries:

Mats Wallin, CFO
                     Tel +46 (0)8-587 20 600

Hannes Wadell,
Treasury                                              Tel +46 (0)8-587 20 655
About Autoliv

Autoliv Inc., the worldwide leader in automotive safety
systems, develops and manufactures automotive safety systems for all major
automotive manufacturers in the world. Together with its joint ventures, Autoliv
has more than 80 facilities with nearly 50,000 employees in 29 countries. In
addition, the Company has ten technical centers in nine countries around the
world, with 21 test tracks, more than any other automotive safety supplier.
Sales in 2011 grew by 15% to US $8.2 billion. The Company's shares are listed on
the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on
the OMX Nordic Exchange in Stockholm (ALIV sdb). For more information about
Autoliv, please visit our company website at www.autoliv.com.