NF1 About this report

This is the seventeenth consecutive year of sustainable business reporting for Sandvik, published on March 10, 2023, and we will continue our annual sustainability reporting. The data in this report refers to the 2022 fiscal year. The Our most recent Sustainable Business Report was published in March 2022. In the non-financial notes, information on strategy, management approach, stakeholder dialogues and sustainability data are presented.

Information meeting the Swedish legal requirements on sustainability reporting, the Statutory Sustainability Report, and Sandvik Sustainable Business Report, are found on About Sandvik, Sustainability targets, Sustainability shift, Sustainability governance and Non-financial notes. See note P12 for a list of entities included in the figures, unless otherwise stated.

This report has been prepared in accordance with the Global Reporting Initiative, GRI Standards 2021. The figures presented are the accumulated figures for 2022 for all active reporting units, unless otherwise stated. An operational control approach was used for consolidations. It covers our material aspects defined in the materiality assessment described in Materiality assessment and it has been reviewed by an external party. No restatements of information from previous reporting periods have been made. In the sustainability report all data related to Sandvik Materials Technology/Alleima have been excluded, except for employee engagement related to collective bargaining agreements (note NF 6) for 2021 as data was collected by country level historically.

As of 2022, we report in accordance with the Task Force on Climate-related Financial Disclosures (TCFD). Sandvik also reports in accordance with the Sustainability Accounting Standards Board (SASB) reporting standard. We disclose our climate and water impact through the non-profit organization CDP.

Sandvik is a signatory to the UN Global Compact (UNGC) since 2013 and reports on the ten principles in accordance with the UN Global Compact Advanced level criteria.

The assurance provider was engaged by the Board of Directors and the CEO of Sandvik to undertake a combined assurance of the Sandvik Annual Report 2022. The assurance provider is independent to Sandvik.

Sandvik Code of Conduct, Sandvik Supplier Code of Conduct and Sandvik Business Partner Code of Conduct are publicly available on home.sandvik/sustainablebusiness. Sandvik Group policies are classified as an internal documents and are available on the company intranet. All policies have been approved by the Group Executive Management team, and 14 policies, including the Anti-Bribery and Corruption Policy, have been approved by the Board of Directors. Our Group policy commitments apply to the whole organization, including business relationships, and are communicated via the line organization.

Detailed information regarding our reporting can be found at home.sandvik/sustainablebusiness.