Sandvik holds approximately 99.4% of the shares and 99.8% of the votes in Seco Tools following the expiry of the final acceptance period

Sandvik holds approximately 99.4% of the shares and 99.8% of the votes in Seco
Tools following the expiry of the final acceptance period

This press release may not be published or distributed, directly or indirectly,
to or within jurisdictions where the publication or the distribution would not
comply with laws and regulations in such jurisdictions, including the United
States, Australia, Hong Kong, Japan, Canada, New Zealand or South Africa. The
Offer is not being made to (and acceptances will not be accepted from) persons
in or from jurisdictions where the announcement of the Offer or approval of
acceptances of the Offer would require further documentation, filings or other
measures in addition to those required by Swedish law.

This press release has been published in Swedish and English. In the event of
any discrepancy in content between the language versions, the Swedish version
shall prevail.

Following the expiry of the extended acceptance period, Sandvik AB’s offer to
the minority shareholders of its subsidiary Seco Tools AB has been accepted by
shareholders representing 56,748,957 class B shares in Seco Tools, corresponding
to 39.0% of the shares and 10.6% of the votes. In total, Sandvik (including
subsidiaries) now holds 99.4% of the shares and 99.8% of the votes in Seco
Tools. The Board of Directors of Sandvik has resolved to issue 1,208,774 new
Sandvik shares as consideration for Seco Tools shares tendered during the
extended acceptance period.

On 7 November 2011, Sandvik announced a recommended public offer to the minority
shareholders of Seco Tools to acquire all remaining shares in Seco Tools. On 12
December 2011, it was announced that the Extraordinary General Meeting of
Sandvik had authorized the Board of Directors to resolve to issue the
consideration shares, and that the condition for completion of the offer had
thereby been satisfied. During the initial acceptance period that ended on 10
January 2012, 55,741,645 class B shares in Seco Tools were tendered under the
offer, representing 38.3% of the shares and 10.4% of the votes. The Board of
Directors of Sandvik resolved, based on the General Meeting’s authorization and
in accordance with the terms of the offer, to issue 66,889,974 new shares as
consideration for Seco Tools shares tendered during the initial acceptance
period. On 16 January 2012, Sandvik announced that the acceptance period had
been extended up to and including 26 January 2012.

The extended acceptance period has now expired and the acceptance period will
not be extended further. During the extended acceptance period Sandvik’s offer
to the shareholders of Seco Tools was accepted by shareholders representing
1,007,312 class B shares in Seco Tools, corresponding to 0.7% of the shares and
0.2% of the votes, which means that in total 56,748,957 class B shares,
representing 39,0% of the shares and 10.6% of the votes, have been tendered
under the offer. In total, Sandvik (including subsidiaries) now holds 99.4% of
the shares and 99.8% of the votes in Seco Tools.

Based on the General Meeting’s authorization and in accordance with the terms of
the offer, the Board of Directors of Sandvik has resolved to issue 1,208,774 new
shares as consideration in the offer to the shareholders of Seco Tools that have
accepted the offer during the extended acceptance period. Payment for the
subscribed shares will be made by contribution of class B shares in Seco Tools.
The value of the contribution is estimated to correspond to a subscription price
equal to the latest closing price of Sandvik’s share on NASDAQ OMX Stockholm on
31 January 2012.

For those who have accepted the offer during the extended acceptance period,
settlement is expected to commence on or around 9 February 2012.

Since Sandvik (including subsidiaries) holds more than 90% of the shares in Seco
Tools, Sandvik has initiated a compulsory acquisition procedure in accordance
with the Swedish Companies Act (SFS 2005:551) in order to acquire all
outstanding shares in Seco Tools. At the request of Sandvik, the Board of
Directors of Seco Tools has applied for delisting of the class B shares in Seco
Tools from NASDAQ OMX Stockholm and convened an Extraordinary General Meeting in
Seco Tools to be held on 17 February 2012 for the purposes of electing a new
Board of Directors.

Sandviken, 1 February 2012

Sandvik Aktiebolag (publ)

Sandvik AB discloses the information in this press release pursuant to the
Swedish Securities Market Act (SFS 2007:528) and NASDAQ OMX Stockholm’s Rules
concerning Takeover Bids on the Stock Market.

The information was submitted for publication at 07:50 CET on 1 February 2012.

For further information, please contact Jan Lissåker, Vice President Investor
Relations, Sandvik AB, +46 26 26 10 23.