SSAB gives notice of redundancy regarding 450 employees

SSAB has today given notice of redundancy affecting 450 employees in the Swedish
operations. The measures constitute part of the previously announced efficiency
program within SSAB EMEA.
SSAB EMEA is currently carrying out an efficiency program aimed at increasing
flexibility throughout the entire business operation. The program has been
accelerated and is expected to be fully completed towards the end of the first
quarter of 2013. The annual cost savings are expected to amount to SEK 800
million.

Accordingly, notice of redundancy has been issued covering 450 employees, of
whom approximately one hundred are on temporary contracts. The notice primarily
covers production personnel and affects approximately 200 employees in Borlänge,
150 in Oxelösund, and 100 in Luleå. At the same time, SSAB is studying the
possibility of reducing work time within the Swedish operations.

“It’s always sad to have to make this type of announcement. But we’re doing so
in order to be able to conduct the operations more flexibly going forward. SSAB
will be proactive in providing support to those employees at the various plants
who are affected,” says Melker Jernberg, Head of Business Area SSAB EMEA.
For additional questions, please contact:

Helena Stålnert, EVP, Head of Communications,           +46 8 45 45 734

Catarina Ihre, Director, Investor Relations,                     +46 8 45 45 729
SSAB is a global leader in value added, high strength steel. SSAB offers
products developed in close cooperation with its customers to create a stronger,
lighter and more sustainable world. SSAB has employees in over 45 countries and
operates production facilities in Sweden and the US. SSAB is listed on the
NASDAQ OMX Nordic Exchange, Stockholm. www.ssab.com.