Sandvik

Earnings Release • May 17, 2022

Press Release

New financial targets to be presented at Sandvik's Capital Markets Day

Today, at the Capital Markets Day in Stockholm, Sweden, Stefan Widing, President and CEO and Cecilia Felton, Executive Vice President and CFO, will cover Sandvik's shift to growth focus areas, key achievements and the ambitions going forward, including new financial targets, for the Sandvik Group.

Business area management will also share their achievements since the strategy was presented at Sandvik's previous Capital Markets Day, in November, 2020, and outline their respective strategic priorities for a continued successful execution.

"We are delivering on our shift to growth strategy, and have taken important steps in enhancing and strengthening our platform for future growth. We are now ready to increase our ambitions," says Stefan Widing President and CEO.

New financial targets for Sandvik Group

Financial targets

Reflecting an enhanced and more concentrated core business, including the planned distribution and listing of business area Sandvik Materials Technology, and consequently a new company structure, Sandvik introduces new long-term targets. The targets are based on all the three business areas in the Sandvik Group.

GROWTH	ADJ. EBITA RANGE	FINANCIAL NET DEBT/EBITDA	DIVIDEND
7%	20-22%	<1.5	50% of EPS
through a business cycle organic and M&A, in fixed currency	through a business cycle adj. for IAC	Excluding transformational M&A	through business cycle adj. for IAC

The presentations from the Capital Markets Day will be broadcasted live on home.sandvik, which will start at 13.00 CEST.

For more information, please visit our website https://www.home.sandvik/en/investors/capital-markets-day/

Recordings of the presentations and the corresponding slides will be available on Sandvik's website no later than May 18.

Stockholm, May 17, 2022

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at about 10.00 AM CEST on May 17, 2022.

------------------------------------------------------------------------------------------------------------------------- Sandvik Group

Sandvik is a global high-tech engineering group offering solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. We are at the forefront of digitalization

Box 510 Reg.No 556000-3468 +46 8 456 11 00 SE-101 30 STOCKHOLM VAT No. SE663000060901

and focus on optimizing our customers' processes. Our world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation, rock processing and advanced materials. In 2021 the Group had approximately 44,000 employees and revenues of about 99 billion SEK in about 150 countries