Regulatory News:

Sandvik AB’s (STO:SAND) offer to the minority shareholders of its subsidiary Seco Tools AB has been accepted by shareholders representing 55,741,645 class B shares in Seco Tools, corresponding to 38.3% of the shares and 10.4% of the votes. In total, Sandvik (including subsidiaries) now holds 98.7% of the shares and 99.6% of the votes in Seco Tools. The Board of Directors of Sandvik has resolved to issue 66,889,974 new Sandvik shares as consideration in the offer and to extend the acceptance period up to and including 26 January 2012.

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. For each class B share in Seco Tools, Sandvik offers 1.2 shares in Sandvik. 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.

The Board of Directors of Sandvik has 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 in the offer to the shareholders of Seco Tools that have so far accepted the offer. 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 of 93.70 SEK per share or 6,267,590,563.80 SEK in total.

Sandvik’s offer to the shareholders of Seco Tools has been accepted by shareholders representing 55,741,645 class B shares in Seco Tools, corresponding to 38.3% of the shares and 10.4% of the votes. Sandvik (including subsidiaries) now holds in total 98.7% of the shares and 99.6% of the votes in Seco Tools.

To enable shareholders of Seco Tools who have not yet accepted the offer to do so, the acceptance period is extended up to and including 26 January 2012.

For the shareholders in Seco Tools who have accepted the offer during the regular acceptance period, settlement is expected to commence on or around 20 January 2012. For those who accept 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 intends to initiate a compulsory acquisition procedure in accordance with the Swedish Companies Act (SFS 2005:551) in order to acquire all outstanding shares in Seco Tools. In this connection, Sandvik also intends to work towards the delisting of the class B shares in Seco Tools from NASDAQ OMX Stockholm.

Sandviken, 16 January 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 08:30 CET on 16 January 2012.

The Sandvik Group Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. In 2010, the Group had about 47,000 employees and representation in 130 countries, with annual sales of nearly 83,000 MSEK.

For more information visit www.sandvik.com

Seco Tools Seco Tools is one of the world’s largest manufacturers of cutting tools. In 2010 the group had about 5,300 employees with annual sales of approximately 5,900 MSEK. Seco Tools has representation in about 60 countries, in all continents, and has more than 50 wholly-owned non-Swedish subsidiaries. The company is listed on NASDAQ OMX since 1989.

For more information visit www.secotools.com

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