Statement by the Nomination Committee

In its long-term work, the Nomination Committee has established, based on information obtained from the Company, a profile for future Board members with regard to requirements for suitable experience and knowledge, in light of the ambition to create a global Group of companies. The profile includes, among other things, a requirement for experience from a senior position in an international industrial company or equivalent operations. For several years and with the assistance of external expertise, the Nomination Committee has looked for suitable candidates – in particular women – who have the requisite experience and who correspond to the established profile.

In view of the 2013 Annual General Meeting, the Nomination Committee has obtained, through Sandvik AB's Chairman of the Board, 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 the Board members, including the requirement regarding the independence of Board members, has taken into account the number of Board assignments that each Board member has in other companies and has given special attention to the issue of more equal gender distribution.

In its review, the Nomination Committee has found that the current Board functions well and that the various Board members represent a broad spectrum of experience and knowledge. Further, the Nomination Committee has found that the number of other board assignments that each Board member has does not prevent the Board members from actively participating in the work of the Sandvik Board. The assessment of the Nomination Committee is that the Board 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 members' qualifications, experience and background.

In view of the above, the Nomination Committee has proposed re-election of all Board members.

Stockholm, March 2013

Nomination Committee of Sandvik Aktiebolag