Reliance Defence Systems Acquires Saab Stake In Pipavav

Defence and security company Saab has sold its stake (approximately 3.3 per
cent), in India’s Pipavav Defence and Offshore Engineering Company Limited
(Pipavav). The buyer is India’s Reliance Defence Systems Private Limited, which
has made a tender offer on outstanding shares in Pipavav. The transaction will
positively affect Saab’s net financial income and cash flow positively.
On 1 November 2012 Saab announced that it had made an investment in Pipavav.
This made a new partnership possible and made sure a good base for future
businesses is in place. With a new strong owner in the company Saab is looking
forward to develop this potential even further.

“It is natural to act on the inquiry we got from Reliance Defence Systems to
acquire our stake in Pipavav. We believe the cooperation between Saab and
Pipavav now has the potential to get even better with the new owner,” says Jan
Widerström, head of Saab India.

“Saab works actively in support of India’s strategy to increase its national
ability to produce defence material. Local partnerships are being fostered to
meet the needs of the customer and the market conditions,” says Jan Widerström.

For further information, please contact:

Saab Press Centre,

+46 (0)734 180 018,

presscentre@saabgroup.com

www.saabgroup.com

www.saabgroup.com/YouTube

Follow us on twitter: @saab

Saab serves the global market with world-leading products, services and
solutions within military defence and civil security. Saab has operations and
employees on all continents around the world. Through innovative, collaborative
and pragmatic thinking, Saab develops, adopts and improves new technology to
meet customers’ changing needs.

The information is that which Saab AB is required to declare by the Securities
Business Act and/or the Financial instruments Trading Act. The information was
submitted for publication on 31 December 2015 at 16.15 (CET).