Statement by the Nomination Committee

Through Sandvik AB's Chairman of the Board, the Nomination Committee has obtained information relating to the Board's self-evaluation (which process has included the engagement of an external consultant) as well as the Company's operations, phase of development and other relevant circumstances.

The Nomination Committee has discussed the principal requirements that should be imposed on Board members, including the requirement regarding the independence of Board members.

The issue of more equal gender distribution has been given special attention.

Egil Myklebust has declared that he is not available for re-election.

In its review, the Nomination Committee has concluded that the Board functions effectively and that the various Board members represent a broad spectrum of experience and knowledge. The Nomination Committee proposes the election of Jürgen M Geissinger and the re-election of Olof Faxander, Johan Karlström, Fredrik Lundberg, Hanne de Mora, Anders Nyrén, Simon Thompson and Lars Westerberg. Jürgen M Geissinger has broad experience of the international engineering industry and is deemed to bring valuable experience and competence to the Board. It is proposed that Anders Nyrén be re-elected Chairman of the Board.

The assessment of the Nomination Committee is that the proposed Board of Directors has the appropriate composition in view of the Company's operations, phase of development and other relevant circumstances, and displays diversity and breadth in terms of the Board member's qualifications, experience and background.

Stockholm, February 2012

Nomination Committee of Sandvik Aktiebolag