Based on our customer call-offs we expect organic sales for the second quarter of 2014 to grow by around 5% compared to the same quarter of 2013. Currencies are expected to have a positive effect of around 1%, resulting in a consolidated sales growth of around 6%. The operating margin, excluding costs for capacity alignments and antitrust investigations, is expected to be around 9%.

The indication for the full year is for organic sales growth of more than 5% and an operating margin of around 9%, excluding costs for capacity alignments and antitrust investigations. Currencies are expected to have a positive effect of around 1%, resulting in a consolidated sales growth of more than 6%.

Our capacity alignment program will extend into 2014. We expect the costs for the program to be in the range of $20 million to $40 million for the full year.

The projected effective tax rate for the full year 2014 is now expected to be around 29%, excluding any discrete items, and is subject to change due to any other discrete or nonrecurring events that may occur.

Operational cash flow is expected to remain strong and to be at least $700 million excluding any potential cost for discrete items. Capital expenditures are expected to increase in support of our growth strategy and to be in the range of 4.5% to 5.0% of sales, an increase from 2013.

Consolidated sales increased by 7.5%, to $2,296 million from $2,135 million, in the same quarter of 2013. Currency effects were slightly negative, resulting in an organic sales* growth of close to 8%. This compares favorably to the organic sales growth of “around 7%” expected at the beginning of the quarter.

The main reason that Autoliv exceeded its quarterly sales guidance was higher than expected Light Vehicle Production (LVP) in Western Europe and South Korea. North America also contributed due to favorable vehicle mix partly offset by lower than expected vehicle production volumes in China and South America.

All areas of airbag products (including steering wheels and passive safety electronics) grew organically. The growth was mainly driven by passive electronics, leather wrapped steering wheels and knee airbags.

The growth in seatbelt products was driven by sales growth for active seatbelts, primarily in Europe. Recent launches in China also contributed to the growth while sales in the Americas were flat and sales in the Rest of Asia declined due to decreasing volumes for certain vehicles. The modest quarterly growth in seatbelt products is due to the phase out of old programs and is expected to be temporary since new ones are ramping up later this year.

All areas of active safety products (automotive radars, night vision systems and cameras with driver assist systems/vision) grew organically. This was the fourth consecutive quarter that active safety grew by more than 50% organically.

Sales of forward and side looking radar to Mercedes were particularly strong. Radar sales to Acura, Cadillac and Jeep, vision and night vision products to BMW and night vision to Mercedes’ S-Class also contributed to the growth.

As the roll-out of Mercedes’ Collision Prevention Assist (CPA) now enters its second year, we expect growth rates in active safety for the remainder of 2014 to be at lower levels than experienced during this and the previous three quarters.

All Autoliv regions grew organically during the quarter.

Autoliv’s sales in Asia were $761 million. The Company divides its Asian sales in three parts: China, Japan and the Rest of Asia.

Sales from Autoliv’s companies in China grew organically* by close to 14% in the quarter. The growth was particularly strong for sales to Chinese OEM’s, primarily Wuling’s Hong Guang S and again Haval’s H6, this time the sport version. Growth from the global OEM’s came from the continued strong performance of Nissan’s Teana, as well as Ford’s Kuga and VW’s recently launched Santana.

The strong organic sales* growth in Japan of almost 20% was partly driven by the increase in the consumption tax being implemented in April 2014. Strong sales growth came primarily from increased volumes for Mazda’s CX-5 and new passive electronics business for Mazda’s Axela/3, as well as the ramp up of the Mitsubishi/Nissan co-developed Dayz Roox and EK Space.

For Autoliv’s companies in the Rest of Asia (RoA), the organic sales* growth of over 2% came from South Korea with continued growth for KIA’s Sportage and growth for the Sorento. Recent launches of Hyundai’s

Genesis and Tucson/ix35 also contributed to the higher sales. In India, overall sales were flat, as declining sales for models from Suzuki and Tata offset sales growth from the ramp up of Hyundai’s i10.

Sales from Autoliv’s companies in the Americas grew organically* by around 4%. In North America the sales growth came primarily from recent launches with Nissan’s Rogue and Pathfinder, Jeep’s Cherokee and Toyota’s Highlander and Corolla, partly mitigated by lower sales with Ford’s F-Series. In South America growth came primarily from increased volumes with Fiat’s Palio and Strada, as well as the launch of Dacia’s Logan.

The close to 8% organic sales* growth from Autoliv’s companies in Europe was driven by the recent launch of the Mercedes’ S-Class as well as continued radar sales to Mercedes. Strong sales for BMW’s 3- and 4-Series, Peugeot’s 2008 and ramp-ups with Citroën’s C4 Picasso and Ford’s Transit also contributed, as did volume increases for Volvo. There was also a positive effect from the Easter holiday being in the second quarter this year, whereas it was in the first quarter in 2013. The growth was partly mitigated by an unfavorable model shift with Mini.

Our strong growth in the first quarter 2014 led to a gross profit $31 million higher than in the same quarter 2013. The gross margin was unchanged, as ramp-ups of capacity for growth and negative currency effects offset the positive effects from the higher sales and slightly lower raw material costs.

Operating income increased by $9 million to $192 million, or 8.4% of sales.

Research, Development and Engineering (R, D&E) net, was $13 million higher, as a result of higher cost, partly offset by higher engineering income. Costs primarily related to capacity alignments, but also to the on-going antitrust investigations reduced operating margin by 0.2pp in the first quarter of 2014, similar to the same quarter of 2013. Therefore, the operating margin*, excluding these costs, was 8.6%, compared to 8.8% of sales for the same period in 2013. Compared to our January expectation the adjusted operating margin improved due to strong execution on the higher sales.

Income before taxes increased by $14 million to $184 million. Income attributable to controlling interest

amounted to $130 million, an increase of $7 million from the first quarter of 2013. The effective tax rate was 28.9% compared to 26.5% in the same quarter of 2013. The higher rate was principally a result of shifts in the geographic mix. Discrete tax items were not material in either period.

Earnings per share (EPS) assuming dilution was $1.38 compared to $1.29 for the same period one year ago.

EPS assuming dilution was positively impacted by the higher operating income and the lower number of shares outstanding. The positive items were partly offset by the higher effective tax rate.

The adjusted EPS* assuming dilution was $1.43 compared to $1.32 for the same period one year ago.

The weighted average number of shares outstanding assuming dilution decreased to 94.3 million as a result of share repurchases, compared to 95.8 million in the first quarter of 2013.

Cash flow from operations amounted to $185 million, the Company’s highest cash flow ever for a first quarter, compared to $141 million in the same quarter of 2013. The strong cash flow was partly due to timing effects.

Cash flow before financing* amounted to $91 million compared to $55 million during the same quarter of 2013. Capital expenditures net, of $93 million were $19 million more than depreciation and amortization expense in the quarter and $7 million more than capital expenditures during the first quarter of 2013.

During the quarter, operating working capital* was 6.2% of sales, unchanged from December 31, 2013. The Company has a target that working capital in relation to the last 12-month sales should not exceed 10%.

Account receivables increased in relation to sales to 73 days outstanding from 66 days on December 31, 2013, and were unchanged from March 31, 2013. Days inventory outstanding increased to 30 days from 29 days,

on December 31, 2013 and was unchanged from March 31, 2013.

The Company’s net cash position* decreased by $41 million during the quarter to $470 million on March 31, 2014 as a result of the Company’s adjustment toward its targeted capital structure including the repurchase of shares of common stock amounting to $94 million and a quarterly dividend payment which reduced net cash by $49 million.

During the quarter, total equity was unchanged at $4,000 million as a result of the positive effect from $131 million in net income and $16 million in common stock incentives, offset by $94 million from share repurchases, $52 million from dividends including dividends paid to non-controlling interests and $1 million from negative currency translation effects.

During the three month period from January to March 2014, global Light Vehicle Production (LVP) is estimated by IHS to have increased by more than 5% compared to the same quarter in 2013, which is in line with IHS’s January estimate.

In China, which accounts for more than 15% of Autoliv’s sales, LVP grew by more than 10%, which was a decrease of 2pp compared to the January estimate.

In Japan, which accounts for almost 10% of Autoliv’s sales, LVP grew by 14%, which was a slight increase from the January estimate.

In the RoA, which represents almost 10% of Autoliv’s sales, LVP declined by close to 6%, an improvement of around 1pp since the previous estimate for a decline of close to 7%.

In the Americas, which make up around one third of Autoliv’s sales, the LVP increased by 3%, a decline of around 2pp from IHS’s growth expectation at the beginning of the quarter. In North America, the increase was close to 6%, which was a slight decrease from the previous estimate. In South America the decline was close to 8%, around 7pp more than the expected decline in IHS’s January estimate.

In Europe, where Autoliv currently generates around one third of its sales, LVP grew by over 7%, which was around 3pp better than IHS’s estimate in January. In Western Europe the LVP grew by close to 10%, which was more than 4pp better than estimated at the beginning of the quarter. In Eastern Europe, the LVP grew by around 2%, which is in line with IHS’s January estimate.

Compared to the end of the previous quarter the total headcount (permanent employees and temporary personnel) increased by 1,425 people. In low cost

countries the increase was over 1,200 people while the headcount in high cost countries increased by close to 200 people.

Other Significant Items

Events After the Quarter End

Dividends

As previously announced, the Company declared a quarterly dividend to stockholders of 52 cents per share for the second quarter 2014.

This dividend will be payable on Thursday, June 5, 2014 to Autoliv stockholders of record on the close of business on Wednesday, May 21, 2014.

The ex-date when the shares will trade without the right to the dividend will be Monday, May 19, 2014.

Annual Meeting

The Board of Directors set May 6, 2014 as the date for the Annual General Meeting of Stockholders to be held in Chicago, IL, USA.

Only stockholders of record at the close of business on March 10, 2014 will be entitled to be present and vote at the general meeting. Notice of the meeting was mailed, or made available, to the stockholders of record in the last week of March 2014.

Next Report

Autoliv intends to publish its quarterly report for the second quarter of 2014 on Friday, July 18, 2014.

Footnotes

Definitions and SEC Filings

Please refer to www.autoliv.com or to the Annual Report for definitions of terms used in this report. Filings with the SEC of Autoliv’s annual report to stockholders, Form 10-K annual report, quarterly reports on Form 10-Q, proxy statements, management certifications, press releases, current reports on Form 8-K and other documents can also be obtained free of charge from Autoliv at the Company’s address. These documents are also available at the SEC’s website www.sec.gov and at Autoliv’s corporate website www.autoliv.com.

This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements, including without limitation, management’s examination of historical operating trends and data, as well as estimates of future sales, operating margin, cash flow, effective tax rate or other future operating performance or financial results, are based upon our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Because these forward-looking statements involve risks and uncertainties, the outcome could differ materially from those set out in the forward-looking statements for a variety of reasons, including without limitation, changes in global light vehicle production; fluctuation in vehicle production schedules for which the Company is a supplier, changes in general industry and market conditions, changes in and the successful execution of our capacity alignment, restructuring and cost reduction initiatives discussed herein and the market reaction thereto; loss of business from increased competition; higher raw material, fuel and energy costs; changes in consumer and customer preferences for end products;

customer losses; changes in regulatory conditions; customer bankruptcies or divestiture of customer brands; unfavorable fluctuations in currencies or interest rates among the various jurisdictions in which we operate; component shortages; market acceptance of our new products; costs or difficulties related to the integration of any new or acquired businesses and technologies; continued uncertainty in pricing negotiations with customers, our ability to be awarded new business; product liability, warranty and recall claims and other litigation and customer reactions thereto; higher expenses for our pension and other postretirement benefits; work stoppages or other labor issues; possible adverse results of pending or future litigation or infringement claims; negative impacts of antitrust investigations or other governmental investigations and associated litigation (including securities litigation) relating to the conduct of our business; tax assessments by governmental authorities and changes in our effective tax rate; dependence on key personnel; legislative or regulatory changes limiting our business; political conditions; dependence on and relationships with customers and suppliers; and other risks and uncertainties identified under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Reports and Quarterly Reports on Forms 10-K and 10-Q and any amendments thereto. The Company undertakes no obligation to update publicly or revise any forward-looking statements in light of new information or future events. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update any such statement.