SSAB: The subscription price converted to EUR in SSAB’s rights issue is EUR 1.13 per share

Regulatory News:

As previously announced, SSAB AB (publ) ("SSAB”) has resolved to conduct a rights issue of class B shares of approximately SEK 5 billion with preferential rights for existing shareholders in SSAB. The subscription price is SEK 10.50 per share. Holders of shares registered with Euroclear Finland and traded on Nasdaq Helsinki will pay an amount in EUR corresponding to the subscription price of SEK 10.50 per share.

The currency conversion rate has been determined and resulted in an amount of EUR 1.13 per share. The conversion rate for the subscription price is based on the European Central Bank EUR/SEK reference rate of 9.2910, which was published at 3.00 pm CEST on May 31, 2016.

SSAB AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was provided for public release on May 31, 2016 at 4.30 pm CEST.

IMPORTANT NOTICE

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in SSAB.

This press release may not be released, published or distributed, directly or indirectly, in or into Australia, Japan, Canada, the United States or any other jurisdiction where participation would require additional prospectuses, registration or measures besides those required by Swedish, Finnish, Danish, UK and Irish law. Nor may this press release be distributed in or into such countries or any other country or jurisdiction in which distribution requires such measures or otherwise would be in conflict with applicable regulations. Any failure to comply with the restrictions described may result in a violation of applicable securities regulations.

No subscription rights, paid subscribed shares or shares in SSAB have been or will be registered under the United States Securities Act of 1933, as amended (the "Securities Act”) or the securities legislation of any state or other jurisdiction in the United States and no subscription rights, paid subscribed shares or shares may be offered, subscribed for, sold, resold, delivered or otherwise transferred, directly or indirectly, in or into the United States except under an available exemption from, or transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States.

There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. This press release contains certain forward-looking information that reflects SSAB’s present view of future events as well as financial and operational development. Words such as "intend”, "assess”, "expect”, "may”, "plan”, "believe”, "estimate” and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.

SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in over 50 countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is listed on the Nasdaq OMX Nordic Exchange in Stockholm and has a secondary listing on the Nasdaq OMX in Helsinki. www.ssab.com.

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