Snap-on Incorporated (NYSE: SNA) (the "Company") announced today the consummation of the previously announced cash tender offer (the "Tender Offer") for any and all of its outstanding 6.70% Senior Notes due March 1, 2019 (the "Notes"). The Tender Offer expired at 5:00 p.m., New York City time, on February 26, 2018 (the "Expiration Date"). $26,098,000 or 13.05% of the $200,000,000 aggregate principal amount of the Notes was validly tendered and not withdrawn in the Tender Offer. The Company accepted for purchase all of the Notes validly tendered and delivered (and not validly withdrawn) in the Tender Offer at or prior to the Expiration Date. Payment for the Notes purchased pursuant to the Tender Offer is intended to be made on the date hereof (the "Payment Date").

The consideration to be paid under the Tender Offer will be $1,040.88 per $1,000 principal amount of Notes, plus accrued and unpaid interest to, but not including, the Payment Date. The total Tender Offer consideration of $28,019,740.76 including accrued and unpaid interest will be funded from a portion of the net proceeds from the Company's recently announced issuance of its 4.100% Senior Notes due 2048.

The Company will retire approximately 13.05% of the outstanding amount of the Notes pursuant to the Tender Offer.

The Tender Offer was made pursuant to the Company's Offer to Purchase dated February 20, 2018, the related Letter of Transmittal and Notice of Guaranteed Delivery. Citigroup Global Markets Inc., J.P. Morgan Securities LLC and U.S. Bancorp Investments, Inc. acted as Dealer Managers for the Tender Offer. This press release is neither an offer to purchase nor a solicitation to buy any of the Notes nor is it a solicitation for acceptance of the Tender Offer.

On February 20, 2018, the Company issued a notice of redemption to redeem all of the remaining outstanding Notes on March 22, 2018.

About Snap-on

Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products and support its franchise business. Products and services are sold through the company's franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.7 billion, S&P 500 company headquartered in Kenosha, Wisconsin.

Forward-Looking Statements

Statements in this news release that are not historical facts, including statements that (i) are in the future tense; (ii) include the words "expects," "anticipates," "intends," "approximates," or similar words that reference Snap-on or its management; (iii) are specifically identified as forward-looking; or (iv) describe Snap-on's or management's future outlook, plans, estimates, objectives or goals, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Snap-on cautions the reader that this news release may contain statements that are forward looking in nature and were developed by management in good faith and, accordingly, are subject to risks and uncertainties regarding Snap-on's expected results that could cause (and in some cases have caused) actual results to differ materially from those described or contemplated in any forward-looking statement. Factors that may cause the company's actual results to differ materially from those contained in the forward-looking statements include those found in the company's reports filed with the Securities and Exchange Commission, including the information under the "Safe Harbor" and "Risk Factors" headings in its Annual Report on Form 10-K for the fiscal year ended December 30, 2017, which are incorporated herein by reference. Snap-on disclaims any responsibility to update any forward-looking statement provided in this news release, except as required by law.

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