It's one of several slightly different versions available.
I've got one looking very like that, but mine has an extra leg in the middle which bolts to the underside of the boot locker floor. Also mine ends in the standard 2-hole vertical plate allowing for bolting on a standard tow ball, or a drop plate to be able to adjust the tow height. Yours has a fixed tow ball so is non-adjustable. Whether that matters depends on what you want to tow - I've had a variety of trailers, dinghy trailers and a caravan all needing different heights.
There was another original Volvo kind that had four bolt holes with non-standard spacings for bolting on a special Volvo tow-ball extension. I think the point was the projecting tow ball extension could be removed so careless pedestrians didn't crack their shins when skirting the rear of the car.
The main bolts holding all kinds on to the chassis structure double up as the bolts securing the collapsible bumper structure. If you undo the big nuts/bolts from inside the boot you can replace with slightly longer bolts which secure the tow bar.
The two smaller holes on each side need bolts of the right size which screw into pre-tapped holes on the car. These otherwise have no purpose so will be rusty and choked with debris, underseal etc, so need careful cleaning out.
A good way of cleaning out a rusty thread is to make two hacksaw cuts along a spare bolt of the right size and cautiously run it in and out with copious oil before you try and force in the securing bolts.
It's worth carefully cleaning up the metalwork and sealing the contact faces with waxoil or something gungy or it forms a trap and rusts the chassis structure.
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