JOINT STOCK COMPANY RĪGAS ELEKTROMAŠĪNBŪVES RŪPNĪCA. Reg. No Ganību dambis 53, Riga, LV-1005

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1 JOINT STOCK COMPANY RĪGAS ELEKTROMAŠĪNBŪVES RŪPNĪCA Reg. No Ganību dambis 53, Riga, LV-1005 CONSOLIDATED FINANCIAL INFORMATION FOR 9 MONTHS OF THE YEAR 2018 (NON-AUDITED) DRAWN-UP IN COMPLIANCE WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTED BY THE OPEAN UNION

2 CONTENT Information about the parent Company 3 Consolidated comprehensive income statement 4 Consolidated statement of financial position 5 Consolidated cash flow statement 7 Consolidated statement of changes in equity 8 Management confirmation report 9 2

3 INFORMATION ABOUT THE PARENT COMPANY Name of the Company Legal status of the Company AS (Joint Stock Company) Rīgas elektromašīnbūves rūpnīca (AS RER ) Joint Stock Company Registration No. in the Register of Enterprises, No , Riga, 29 November 1991 date and place of registration Unified Registration No. in the Commercial No , Riga, 29 September 2004 Register, date and place of registration Registered office Institution in charge of the Company Ganibu dambis 53, Riga, LV-1005, the Republic of Latvia General meeting of shareholders The parent Company Council : Chairperson of the Council Stanislav Vodolazskii from Vice-Chairperson of the Council Kirill Nuzhin from Council Members Andrey Sarkisov from Natalia Sarkisova from Sergey Bolysov from Maksim Gordyukov until The parent Company Board: Chairperson of the Board Nikolajs Erohovs from Board Members Aleksandrs Popadins from Iļja Šestakovs from Grigorijs Kapustins from Olga Pētersone until The quantity of shares which belong to the members of Council and to the members of Board (%) Owns no shares Accounting period 1 January September 2018 Subsidiary (daughter) companies AS Latvo, reģ. Nr Ganibu dambis 53, Riga, the Republic of Latvia Shares 98.7 % Auditor SIA "Grant Thornton Baltic Audit", licence Nr.183 Blaumaņa iela 22, Riga, LV-1011, Latvija Certified auditor Silvija Gulbe Certified auditor s certificate No

4 CONSOLIDATED COMPREHENSIVE INCOME STATEMENT FOR THE 9 MONTHS OF THE YEAR 2018 Items Net turnover Production costs of the goods sold ( ) ( ) Gross profit or loss Selling expenses ( ) ( ) Administration expenses ( ) ( ) Other operating income Other operating expenses ( ) ( ) Income from other securities and loans which make long-term financial investments Other interest payments and similar expenses 1 2 Profit or loss before corporate income tax ( ) ( ) Profit or loss after calculating the corporate income tax Profit or loss of the accounting period (22 059) Earnings per share 0,241 0,272 Attributable to: Equity holders of a parent company Other comprehensive income / loss Long-term investment revaluation reserve decrease (2 919) (1 435) Total other comprehensive income / loss (2 919) (1 435) Total comprehensive income Attributable to: Equity holders of a parent company

5 CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR 9 MONTHS OF THE YEAR 2018 A S S E T S LONG-TERM INVESTMENTS Intangible investments Development costs Concessions, patents, licences and similar rights Other intangible investments Prepayments for intangible investments Total intangible assets Fixed assets Real estate (land, buildings and structures) Technology devices and equipment Other fixed assets and inventory Expense of tangible assets and construction in progress Advance payments for fixed assets Total fixed assets Long-term financial investments Other securities and investments Own shares Other loans and long-term receivables Total long-term financial investments TOTAL LONG-TERM INVESTMENTS CURRENT ASSETS Inventories Raw materials, direct materials and auxiliary materials Work in progress Finished products and goods for sale Advance payments for inventories Total inventories Receivables Trade receivables Other receivables Prepaid expenses Total receivables Short-term financial investments Other securities and interest in capital Total short-term financial investments Cash TOTAL CURRENT ASSETS TOTAL ASSETS

6 CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR 9 MONTHS OF THE YEAR 2018 L I A B I L I T I E S EQUITY CAPITAL Share capital (equity capital) Long-term investment revaluation reserve Other reserves Retained earnings or uncovered losses of previous years Profit or loss of the reporting year TOTAL EQUITY CAPITAL PROVISIONS Other provisions TOTAL PROVISIONS CREDITORS Long-term liabilities Borrowings from credit institutions Deferred income Total long-term liabilities Short-term liabilities Borrowings from credit institutions Advance payments from customers Trade payables Taxes and mandatory state social insurance contributions Other liabilities Deferred income Accrued liabilities Total short-term liabilities TOTAL CREDITORS TOTAL LIABILITIES

7 CONSOLIDATED CASH FLOW STATEMENT FOR 9 MONTHS OF THE YEAR 2018, (prepared by indirect method) Cash flow from operating activities Items Profit or loss before extraordinary items and taxes ADJUSTMENTS Depreciation of fixed assets Amortization of intangible investment value Income from sales of fixed assets (3 020) (3 490) Profit or loss from fluctuations of currency exchange rates (10 133) Income from other securities and loans which make longterm (35 182) - financial investments Amounts written off fixed assets Long-term investment revaluation reserve decrease (2 919) (1 435) Profit or loss before adjustments influenced by changes of balance of current assets and short-term liabilities ADJUSTMENTS Increase or decrease of balance of receivables ( ) Increase or decrease of balance of inventories ( ) ( ) Increase or decrease of balance of debts to be paid to ( ) suppliers, contractors and other creditors Corporate tax paid (22 059) - NET CASH FLOW FROM OPERATING ACTIVITIES Cash flow form investing activities Items Acquisition of an affiliate (570) - Proceeds from investment properties Purchase of fixed assets and intangible investments ( ) ( ) Income from sales of fixed assets and intangible investments NET CASH FLOW FROM INVESTING ACTIVITIES ( ) ( ) Cash flow from financing activities Items Loans received Expenses for repayment of loans ( ) ( ) NET CASH FLOW FROM FINANCING ACTIVITIES ( ) ( ) Summary of cash inflow and outflow Items Net cash flow from operating activities Net cash flow from investing activities ( ) (574749) Net cash flow from financing activities ( ) ( ) Result of fluctuations of currency exchange rates ( ) Net cash flow of the accounting period ( ) Cash and its equivalents in the beginning of the accounting period Cash and its equivalents at the end of the accounting period

8 CONSOLIDATED STATEMENT OF CHANGES OF SHAREHOLDERS EQUITY FOR 9 MONTHS OF THE YEAR 2018, Kind of changes Share capital Reserve for revaluation of long-term investments Other provisions Undivided profit As at Profit or loss for the accounting period Other comprehensive income - (1 435) - - (1 435) Total comprehensive income - (1 435) As at As at Profit or loss for the accounting period Other comprehensive income - (2 919) - - (2 919) Total comprehensive income - (2 919) As at Total 8

9 MANAGEMENT CONFIRMATION REPORT Consolidated financial information are prepared to the best of our knowledge, in accordance with International Financial Reporting Standards adopted by the European Union. These financial information give a true and fair view of the financial position of the Group and of its financial perfomance for the period ended 30 September In preparing those financial information for 9 months of the year 2018, management selected suitable accounting policies, made judgments and estimates that are reasonable and prudent, prepared the financial information on the going concern basis to presume that the Group will continue in business. The Management Board is responsible for organizing accounting, they are also responsible for safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the Group, Chairperson of the Board Nikolajs Erohovs 28 November

JOINT STOCK COMPANY RĪGAS ELEKTROMAŠĪNBŪVES RŪPNĪCA. Reg. No Ganību dambis 53, Riga, LV-1005

JOINT STOCK COMPANY RĪGAS ELEKTROMAŠĪNBŪVES RŪPNĪCA Reg. No. 40003042006 Ganību dambis 53, Riga, LV-1005 CONSOLIDATED FINANCIAL INFORMATION FOR 3 MONTHS OF THE YEAR 2018 (NON-AUDITED) DRAWN-UP IN COMPLIANCE