WARNING: This page is about a different car, the 2004 Volvo S40, 2003 Volvo S40, 2002 Volvo S40, 2001 Volvo S40, and 2000 Volvo S40. However, it is still accessible from the selected car via links, so may be relevant.
Fig 1: Removing Splash Guard And Adjusting Fog Lamp
Courtesy of VOLVO CARS OF NORTH AMERICA.
The fog lamps can be adjusted with the screw as shown, according to the statutory national requirements.