Sandvik – UK Tax Strategy
The publication of this strategy statement is regarded as satisfying the statutory obligation under Para
19(2), Schedule 19, Finance Act 2016 for all companies listed in Appendix 1.
Our UK Tax Strategy comprises four key components:

Commitment to compliance
Our UK activity comprises of a number of different business streams, including Manufacturing &Machining Solutions, Mining and Rock Solutions and Rock Processing Solutions.
Sandvik employs a UK Tax Manager, who oversees the Sandvik UK Group’s relationship with the UKtax authorities and ensures alignment between Sandvik’s UK Group operations and the Sandvik Global
Group Tax Policy and Procedures.
We see compliance as meaning that we seek to pay the right tax, in the right place, at the right time.
All Sandvik UK Group companies are committed to complying with tax law and practice in the UK.

Attitude toward tax planning and level of risk accepted
In structuring and managing our commercial activities we will consider – among other factors – UK tax
laws with a view to maximising value on a sustainable basis for our shareholders. Any tax planningundertaken will have commercial and economic substance and will have regard to the potential impact
on our reputation and broader goals. We will not undertake planning that is contrived or artificial.
Given the scale of our business and volume of tax obligations, risks will inevitably arise from time totime in relation to the interpretation of tax law and nature of our compliance arrangements. We
proactively seek to identify, evaluate, manage and monitor, mitigating where possible, these risks toensure they remain in line with our risk appetite.
The level of risk which we accept in relation to UK taxation is consistent with our overall objective ofachieving certainty, where reasonable and appropriate, in our tax affairs. We seek to comply withregulatory and other obligations and to act in a way which protects our reputation as responsible
corporate citizens.
We do not set formal quantitative risk limits in relation to the financial tax risk that we assume. Instead,the risk profile is kept under review by the UK Tax Manager working closely with Sandvik Group Tax.

Approach to dealing with tax authorities
We engage collaboratively with tax authorities, with honesty, integrity, respect and fairness and in aspirt of co-operative compliance. These are values which are fundamental to the way we carry out ourbusiness. We make our tax returns as clear as possible and we try to raise important issues proactively

so that tax authorities can focus their resources effectively. From time to time, if it is unclear how tax
law should be applied, we may engage with tax authorities in advance of undertaking transactions toconfirm the correct application of tax law.

Approach to tax risk management and governance arrangements
The UK Tax Manager, liaising with Sandvik Group Tax, actively seeks and receives information fromthe wider business in order to better manage UK taxation. Where there is significant complexity oruncertainty, the UK Tax Manager, supported by Sandvik Group Tax, will make use of external advisors.
This strategy is aligned with Sandvik Global Code of Conduct and is approved, owned and overseenby the boards of the Sandvik UK Group Companies.

Review of UK Tax Strategy
Together with Sandvik Group Tax, the UK Tax Manager will review this strategy on an annual basis
and update as appropriate.
This strategy has been reviewed and published on 23 December 2023 and relates to the financial
year ending 31 December 2023.

Appendix 1

Sandvik Holdings Limited
Sandvik Limited
Sandvik Osprey Limited
Sandvik Materials Limited
Sandvik Mining & Construction Limited
Tamrock Great Britain Holdings Limited
Dormer Tools Pramet Limited
Walter GB Limited
Fintec Crushing & Screening Limited
Extec Mobile Crushers and Screens Limited
BTA Heller Drilling Systems Limited
Seco Tools (UK) Limited
Sandvik Services Limited
Inrock Limited
CGTech Limited
DSI Underground UK Limited
DSI Underground Holdings Limited
Edvirt UK Limited
Sigmatek Europe Limited
Deswik Europe Limited
Mastercam UK Limited
FMT Tooling Systems Limited
Premier Machine Tools Limited