The Board of Directors’ of Sandvik Aktiebolag proposal for a resolution to authorize the Board of Directors to resolve to issue new shares

This is a translation of the Swedish original. In case of differences between the English translation and the Swedish original, the Swedish text shall prevail.

Sandvik Aktiebolag (the "Company") has made a public takeover offer for all remaining shares in its subsidiary Seco Tools Aktiebolag ("Seco Tools"). For each class B share in Seco Tools, the Company offers 1,2 shares in the Company.

In order to enable completion of the offer, the Board of Directors proposes that the General Meeting resolve to authorize the Board of Directors until 31 March 2012, on one or more occasions, to resolve to issue no more than 69,195,888 new shares as consideration for the acquisition of shares in Seco Tools. The authorization is thus limited to the issuing of shares in exchange for contribution in kind consisting of shares in Seco Tools.

Sandviken, November 2011

Sandvik Aktiebolag (publ)
The Board of Directors