SSAB announces future Group Executive Committee and divisional structure

Today SSAB announces the future Group Executive Committee and divisional
structure to be effective from September 1, 2014, pending the closing of the
share exchange offer to Rautaruukki´s shareholders announced on January 22,
2014*.
The members of the future Group Executive Committee will be:

Martin Lindqvist (1962), President and CEO SSAB

Member of SSAB’s Group Executive Committee since 2001. Employed at SSAB since
1998. Previously, Head of SSAB EMEA; Head of SSAB Strip Products; CFO SSAB; CFO
SSAB Strip; Chief Controller NCC. B.Sc. in Economics, Uppsala University.

Divisions

Olavi Huhtala (1962), EVP & Head of SSAB Europe

Employed at Rautaruukki since 1987. Previously, EVP Ruukki Metals; President,
Ruukki Fabrication; marketing and executive roles in Rautaruukki Metform. B.Sc.
in Engineering.

Mikael Nyquist (1963), President Tibnor

Employed at SSAB since 1995. Previously, President Plannja; Head of Marketing
and Sales SSAB Prelaq; President Swedish Institute of Steel Construction;
Engineer NCC. M.Sc, Royal Institute of Technology.

Charles Schmitt (1959), EVP & Head of SSAB Americas

Employed at IPSCO Inc since 1990 and member of SSAB´s Group Executive Committee
since 2011. Previously, positions with US Steel Corporation; VP of the Southern
Business Unit for SSAB Americas. B.Sc. Business Administration/Finance. The
University of Texas at Arlington, two-year steel fellowship at the American Iron
and Steel Institute.

Marko Somerma (1966), President Ruukki Construction

Employed at Rautaruukki since 2004. Previously, EVP Ruukki Building Products;
CSO Rautaruukki Corporation; EVP Ruukki Engineering; CSO Rautaruukki
Corporation; Chief Process & Information Technology Officer, Instrumentarium
Ltd; Business Development Director, Gustav Paulig Ltd. Lic. Sc. in Technology.

Per Olof Stark (1954), EVP & Head of SSAB Special Steels

Employed at SSAB since 1983. Previously, Head of the SSAB Wear Services business
unit; President of the wholly owned subsidiary Plannja; Head of marketing at
SSAB’s former Plate Division; Head of business area Europe and the US. Head of
global Marketing, Head of Sales and Product development at SSAB Plate. M.Sc,
Royal Institute of Technology.

Support functions

Jonas Bergstrand (1965), Executive Vice President and Head of Legal and Strategy

Employed at SSAB since 2006. Previously, Corporate counsel ABB; OM Gruppen;
Ericsson Radio Systems. Master of Laws, Uppsala University.

Håkan Folin (1976), Executive Vice President and Chief Financial Officer

Employed at SSAB since 2006. Previously, CFO at SSAB APAC; CFO at Tibnor, Head
of Business Development, SSAB. M.Sc., The Royal Institute of Technology,
Stockholm.

Monika Gutén (1975), Executive Vice President and Head of Group Human Resources,
Procurement and Shared Services

Employed at SSAB since 2007. Previously, Head of Human Resources, SSAB EMEA;
Head of Business Development, SSAB. M.Sc. in Business Administration, Stockholm
University.

Taina Kyllönen (1967), Executive Vice President and Head of Group Communications

Employed at Rautaruukki since 2004. Previously, SVP, Marketing and
Communications; SVP, Marketing; VP, Communications and Branding at Rautaruukki
Corporation; VP, Investor Relations at Metso Corporation and Rauma Corporation.
M.Sc. in Economics, School of Business, Aalto University, Helsinki.

Gregoire Parenty (1962), Executive Vice President and Head of Market Development

Employed at SSAB since 2004. Previously, Head of Market at SSAB EMEA; several
positions within ArcelorMittal. Maitrise de Sciences Economiques from the
Sorbonne University, MBA, Dallas University.

Martin Pei (1963), Executive Vice President and Head of Technical Development

Employed at SSAB since 2001. Previously, Executive Vice President, Technical
Director at SSAB; Manager R&D Department at SSAB; General Manager, Slab
Production at SSAB Plate. Ph. D., The Royal Institute of Technology, Stockholm.

The new SSAB will be organized in a divisional model:

  · SSAB Special Steels – Global steel and service partner in value added
products within Advanced High Strength Steels (AHSS) and Quenched & Tempered
steels (Q&T)
  · SSAB Europe – Leading Nordic based steel producer of high-quality strip,
heavy plate and tubes
  · SSAB Americas – Leading North American based steel producer of high-quality
heavy plate
  · Tibnor – Leading Nordic full-service steel distribution partner
  · Ruukki Construction – Leading European provider of energy efficient building
and construction solutions

The combined company will be a leading producer on the global market for
Advanced High Strengths Steels (AHSS) and Quenched & Tempered steels (Q&T),
standard strip, plate and tubular products as well as construction solutions.
The combination will enhance the ability to invest in product development, R&D
and close collaboration with customers. The combined company will have a global
geographic presence and be close to its customers in all regions.

The combination is expected to create substantial value for shareholders in both
SSAB and Rautaruukki stemming from both improved earnings potential and
realization of tangible cost synergies. The cost synergies are expected to be
realized through a more flexible and efficient production system, more efficient
supply chain, purchasing optimization and streamlined administration.

The preliminary combined net sales for 2013 amounted to approximately SEK 56
billion (EUR 6.4 billion) and the combined company will have around 17,300
employees. The combined company will have steel production facilities in Sweden,
Finland and the United States with a total annual steel production capacity of
approximately 8.8 million tonnes.

*On January 22, 2014, SSAB announced a share exchange offer to Rautaruukki’s
shareholders. The proposed combination was subject to, inter alia, valid tender
of more than 90% of Rautaruukki shares by Rautaruukki shareholders and clearance
from regulatory authorities, including receipt of approvals from all applicable
competition authorities. The clearance from all applicable regulatory
authorities has now been received but the valid tender of more than 90% of
Rautaruukki shares by Rautaruukki shareholders is still to be achieved before
the share exchange offer can be completed. The future Group Executive Committee
and divisional structure is subject to the completion of the share exchange
offer and will be effective as from the closing of the share exchange offer. As
communicated on June 24, the offer period for the share exchange offer is
currently scheduled to expire on July 22 and, unless extended, closing is
expected shortly thereafter.

Contact

Marie Elfstrand, Director External Communications, +46 8 45 45 734,
marie.elfstrand@ssab.com

Andreas Koch, Head of Investor Relations, +46 8 45 45 729, andreas.koch@ssab.com
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