Deutsche Bank Appointed as Successor Depositary Bank for the Sponsored Level I American Depositary Receipt Program of Sandvik AB

Deutsche Bank today announced its appointment as successor depositary bank for the non-capital raising sponsored Level I American Depositary Receipt (ADR) program of Stockholm-based Sandvik AB (Sandvik).

Founded in 1862, Sandvik (OTC US: SDVKY) is a high-tech and global engineering group with more than 47,000 employees in more than 130 countries and sales of just over SEK 87 billion in 2013. The business is organized into five business areas: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction and Sandvik Venture. Its operations are concentrated on three core areas: (i) tools and tooling systems for metal cutting as well as components in cemented carbide and other hard materials, (ii) equipment and tools for the mining and construction industries as well as various types of processing systems and (iii) products in advanced stainless steels, special alloys and titanium as well as metallic and ceramic resistance materials.*

Jose Sicilia, Global Head of Depositary Receipts at Deutsche Bank, said: “We are delighted to be selected as successor depositary bank for this notable program. We look forward to working with Sandvik to further enhance its ADR investor relations and to develop their program further."

*Source: Sandvik AB (November 2014)

This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG New York.

The Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Conduct Authority. This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright©November2014 Deutsche Bank AG. All rights reserved.