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MSEK MSEK KSEK 300 25 120 1500 250 20 100 1200 200 15 80 900 60 150 10 40 600 100 5 20 300 50 06/07 07/08 08/09 09/10 10/11 0 06/07 07/08 08/09 09/10 10/11 0 06/07 07/08 08/09 09/10 10/11 0 06/07 07/08 08/09 09/10 10/11 PRODUCT SALES REFINEMENT VALUE 36 37

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FINANCIAL statements ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR MAY 1, 2010 APRIL 30, 2011 proplate AB REGISTERED NUMBER 556643-3867 Contents Board of Directors Report 35 Income statement 37 Balance sheet 38 Pledged assets and contingent liabilities 39 Cash flow statement 40 Income statement Parent Company 41 Balance sheet Parent Company 42 Pledged assets and contingent liabilities Parent Company 43 Notes with accounting principles and notes to the financial statements 44 Signatures 53 Board of Directors Report The operation in general The Board and President of Proplate AB, company registration number 556643-3867, based in the Municipality of Karlstad, Sweden, hereby submit the Annual Report and consolidated financial statements for the financial year May 1, 2010 April 30, 2011. structure The company is a subsidiary of A Persson Affärsutveckling AB, company registration number 556341-4332. Proplate AB is the Parent Company of a with the subsidiary Proplate Oxelösund AB and the dormant subsidiary Proplate Material- och Produktionsstyrning AB. The dormant subsidiary Proplate Mekanik AB was wound up during the financial year through voluntary liquidation. The company s operations The company s operations comprise services such as management, and marketing and sales for the subsidiary. The subsidiary manufactures machinery components from metal plate, chiefly thick high-strength steel. The market situation has continued to improve during the financial year and volumes have increased. 59% (73%) of Proplate s sales were exports. Establishment on the Chinese market has continued to be successful and several new customers have been won. The operation in Oxelösund is carried out in premises hired from company Oxelösundsgösen Fastigheter AB, which built two new industrial buildings during the financial year. These buildings will come into service in May 2011 and will provide increased capacity and efficiency. Proplate s sales and production are forecast to continue to increase in the forthcoming 2011/2012 financial year. Use of financial instruments For a description of the use of financial instruments, please refer to the accounting principles and notes to the financial statements. Environmental information The subsidiary Proplate Oxelösund AB carries out activities requiring notification under the Swedish Environmental Code for the blasting unit and tumblers, as well as for oils and cutting fluids. The company s operation is completely dependent on this permission being granted. The company has quality and environmental management systems certified to EN ISO 9001:2000 and EN ISO 14001:2004. Three-year review Financial year 2010/11 2009/10 2008/09 Net sales, KSEK 250 365 220 117 287 023 EBITDA, KSEK 35 088 18 117 15 708 Profit after financial 21 865 5 569 3 714 items, KSEK Balance sheet total, KSEK 152 327 139 810 133 101 Equity/assets ratio 29% 21% 18% Number of employees 106 78 107 35

Appropriation of profits The Board proposes the following appropriation of profits. Profit brought forward 1 652 550 Profit for the year 5 798 829 Total 7 451 379 Dividend, 20,000 shares x SEK 250 5 000 000 To be carried forward 2 451 379 Total 7 451 379 Income statement May 1, 2010 May 1, 2009 Amounts in KSEK Note Apr 30, 2011 Apr 30, 2010 Net sales 250 365 220 117 Change in inventories of goods in progress, finished goods and work in progress -286-3 654 Work performed by the company for its own use and capitalized 444 Other operating income 16 2 910 4 135 253 433 220 598 The Board s statement on the proposed dividend The proposed dividend reduces the company s equity/assets ratio to 36.5%. This ratio is satisfactory bearing in mind the company s continued profitability. The Board believes that the company s liquidity can be maintained at a similarly satisfactory level. The Board is therefore of the opinion that the proposed dividend does not prevent the company from fulfilling its obligations in the short or long term, or making any necessary investments. The proposed dividend may therefore be justified in accordance with the provisions of Chapter 17, Section 3, paragraphs 2-3 of the Swedish Companies Act. The dividend will be entered as a liability on June 16, 2011. As regards the company s results and position in general, please refer to the subsequent income statements and balance sheets and the accompanying notes to the financial statements. Operating expenses Raw materials and consumables -123 926-121 488 Other external expenses 1-38 479-34 442 Costs of personnel 2-52 193-41 378 Depreciation/amortization of tangible and intangible assets 3-11 505 Other operating expenses 17-3 747-5 173 Operating profit 23 583 6 625 Profit from financial items Interest income and similar profit/loss items 137 705 Interest expenses and similar profit/loss items -1 474-1 332 Interest expenses, Parent Company -381-429 Profit after financial items 21 865 5 569 Profit before tax 21 865 5 569 Current tax -4 062-784 Deferred tax -1 741-788 Profit for the year 16 062 3 997 36 37

Balance sheet Amounts in KSEK Note Apr 30, 2011 Apr 30, 2010 Balance sheet Amounts in KSEK Note Apr 30, 2011 Apr 30, 2010 ASSETS EQUITY AND LIABILITIES Fixed assets Intangible assets Computer software 4 2 159 3 562 2 159 3 562 Tangible assets Plant and machinery on third-party property 5 3 661 3 792 Plant and machinery 6 40 965 46 013 Equipment 7 1 413 1 899 Construction in progress 8 7 110 1 377 53 149 53 081 Total fixed assets 55 308 56 643 Current assets Inventories etc. Raw materials and consumables 28 014 12 599 Work in progress 13 864 16 065 Finished goods and goods for resale 5 322 3 407 47 200 32 071 Current receivables Accounts receivable 35 410 42 447 Tax assets 298 Receivables from Parent Company 26 Other receivables 3 676 1 816 Prepaid costs and accrued income 10 3 509 3 739 42 621 48 300 Cash and bank 14 7 198 2 796 Total current assets 97 019 83 167 TOTAL ASSETS 152 327 139 810 Equity 11 Capital stock (20,000 shares) 2 000 2 000 Restricted reserves 15 110 10 021 17 110 12 021 Non-restricted reserves 10 784 12 876 Profit for the year 16 062 3 997 26 846 16 873 43 956 28 894 Provisions Provisions for deferred tax 8 400 6 659 8 400 6 659 Long-term liabilities Liabilities to credit institutions 13 21 495 34 143 Liabilities to Parent Company 10 150 Other liabilities 200 360 21 695 44 653 Current liabilities Bank overdraft facility 14 21 744 2 113 Liabilities to credit institutions 13 10 114 19 088 Accounts payable 31 362 25 744 Liabilities to Parent Company 2 150 2 010 Current tax liabilities 2 070 Other liabilities 2 173 1 814 Accrued expenses and deferred income 15 8 663 8 835 78 276 59 604 TOTAL EQUITY AND LIABILITIES 152 327 139 810 Pledged assets and contingent liabilities Amounts in KSEK Apr 30, 2011 Apr 30, 2010 Pledged assets For own liabilities and reserves Chattel mortgages 58 000 68 000 Machinery 37 368 37 315 Total pledged assets 95 368 105 315 Contingent liabilities None None 38 39

Cash flow statement May 1, 2010 May 1, 2009 Amounts in KSEK Apr 30, 2011 Apr 30, 2010 Income statement Parent Company May 1, 2010 May 1, 2009 Amounts in KSEK Note Apr 30, 2011 Apr 30, 2010 Operating activities Profit after financial items 21 865 5 569 Depreciation/amortization 11 505 11 492 Other items which do not affect cash flow 451 Current tax -2 290-1 725 Cash flow from operating activities before changes in working capital 31 531 15 336 Cash flow from changes in working capital Increase (-)/Decrease (+) in inventories -15 129 25 984 Increase (-)/Decrease (+) in operating receivables 5 977-32 007 Increase (+)/Decrease (-) in operating liabilities 5 795 12 547 Cash flow from operating activities 28 174 21 860 Investing activities Acquisition of intangible assets -456 Acquisition of tangible assets -10 165-10 737 Cash flow from investing activities -10 621-10 737 Financing activities New share issue 1 000 Change in interest-bearing liabilities -12 151-11 853 Dividend paid -1 000 Cash flow from financing activities -13 151-10 853 Net sales 16 178 14 262 16 178 14 262 Operating expenses Other external expenses 1-7 681-5 397 Costs of personnel 2-6 613-7 248 Depreciation/amortization of tangible and intangible assets 3-90 -147 Other operating expenses -14 Operating profit 1 794 1 456 Profit from financial items Profit from participations in companies 9 4 996 1 000 Other interest income and similar profit/loss items 4 Interest expenses and similar profit/loss items -4-6 Interest expenses, Parent Company -329-367 Profit after financial items 6 461 2 083 Appropriations Appropriations, other -360-146 Profit before tax 6 101 1 937 Current tax -303-260 Profit for the year 5 798 1 677 Cash flow for the year 4 402 270 Liquid funds at beginning of year 2 796 2 526 Liquid funds at end of year 7 198 2 796 40 41

Balance sheet Parent Company Amounts in KSEK Note Apr 30, 2011 Apr 30, 2010 Balance sheet Parent Company Amounts in KSEK Note Apr 30, 2011 Apr 30, 2010 ASSETS EQUITY AND LIABILITIES Fixed assets Tangible assets Equipment 7 89 178 89 178 Financial assets Participations in companies 9 10 757 11 277 10 757 11 277 Total fixed assets 10 846 11 455 Current assets Current receivables Receivables from subsidiaries 1 651 6 520 Tax assets 91 Prepaid costs and accrued income 10 206 362 1 948 6 882 Cash and bank 14 2 258 750 Total current assets 4 206 7 632 TOTAL ASSETS 15 052 19 087 Equity 11 Restricted equity Capital stock (20,000 shares) 2 000 2 000 Statutory reserve 20 20 2 020 2 020 Non-restricted equity Profit brought forward 1 653 976 Profit for the year 5 798 1 677 7 451 2 653 9 471 4 673 Untaxed reserves 12 Tax allocation reserves 1 388 1 028 1 388 1 028 Long-term liabilities Liabilities to Parent Company 8 150 8 150 Current liabilities Accounts payable 209 372 Bank overdraft facility 14 125 Liabilities to Parent Company 2 150 2 000 Liabilities to subsidiaries 9 Current tax liabilities 782 Other liabilities 654 671 Accrued expenses and deferred income 15 1 171 1 286 4 193 5 236 TOTAL EQUITY AND LIABILITIES 15 052 19 087 Pledged assets and contingent liabilities Parent Company Amounts in KSEK Apr 30, 2011 Apr 30, 2010 Pledged assets For own liabilities and reserves Chattel mortgages 1 000 1 000 Total pledged assets 1 000 1 000 Contingent liabilities None Guarantees for the benefit of companies 4 004 4 004 42 43

Notes with accounting principles and notes to the financial statements Amounts in KSEK unless otherwise stated General accounting principles The Annual Report has been prepared in accordance with the Annual Accounts Act and the recommendations of the Swedish Financial Accounting Standards Council. The accounting principles are unchanged compared with last year. Valuation principles etc. Assets, provisions and liabilities have been measured at cost unless otherwise stated below. Accounting treatment of revenue Revenue has been recognized in accordance with Swedish Accounting Standards Board BFNAR 2003:3 Revenues. The company s revenue is the fair value of what has been received or will be received. Government support Government support is recognized at fair value when it is reasonably certain that the support will be received and that the will fulfill all the associated terms and conditions. Government support relating to expected costs is entered as deferred income. The support is taken up as income for the period in which the costs arise which the government support is intended to compensate. Intangible and tangible assets Depreciation/amortization Depreciation/amortization according to plan is based on the original cost less any residual value. The depreciation/amortization is carried out linearly over the asset s useful life and entered as an expense in the income statement. The following depreciation/amortization periods are applied: Computer software 5 years Plant and machinery on third-party property 5-20 years Plant and machinery 5-10 years Useful life Parent Company Equipment, tools and installations 3-5 years 3-5 years Receivables Receivables are reported at cost less any write-down. Inventories Inventories are entered at the lower of cost in accordance with the first-in first-out principle, and fair value. The risk of obsolescence has therefore been observed. In semi-finished and finished goods produced by the company itself, the cost comprises direct production costs and a reasonable proportion of indirect costs. Expenses for development Expenditure on research and development is generally expensed as it arises. Expenditure on developing business systems which are deemed to have a material value for the company have been capitalized. The capitalization relates to direct costs incurred as well as a reasonable proportion of indirect costs. Amortization commences on completion of the project. Financial instruments Financial instruments recognized in the balance sheet include liquid funds and accounts receivable under assets. Accounts payable and borrowings are entered under liabilities. Recognition in and removal from the balance sheet A financial asset or financial liability is entered in the balance sheet when the company becomes a party in accordance with the instrument s contractual conditions. Accounts receivable are recognized in the balance sheet once an invoice has been sent. Liabilities are entered when the counterparty has delivered and there is a contractual obligation to pay, even where an invoice has not yet been received. A financial asset is removed from the balance sheet when the rights in the agreement are realized or the company loses control of them. A financial liability is removed from the balance sheet when the obligation in the agreement is fulfilled or comes to an end in some other way. Financial assets and financial liabilities are only offset and recognized as net amounts in the balance sheet when there is a legal right to offset the amount, and when the intention is to clear the items simultaneously or with a net amount. Liquid funds comprise cash as well as balances which are immediately available from banks and equivalent institutions, including tax accounts. Cash flow exposure cash flow hedges Known incoming cash flows in USD are hedged through forward contracts. Cash flows in EUR, which comprise both incoming and outgoing cash flows, are not hedged. Tax The company and apply the Swedish Accounting Standards Board s general advice on reporting income tax, BFNAR 2001:1. Total tax comprises current tax and deferred tax. Taxes are recognized in the income statement except when the underlying transaction is entered directly against equity, whereby the tax effect is also entered in equity. Current tax is tax to be paid or received relating to the current year. It also includes any adjustment of current tax relating to earlier periods. Deferred tax is calculated using the balance sheet method based on temporary differences between the carrying amount and tax written-down values of assets and liabilities. The amounts are calculated based on how the temporary differences are expected to be evened out and by applying the tax rates and fiscal regulations that are in place or pending at the end of the accounting year. Temporary differences are not included in goodwill, not in differences attributable to participations in subsidiaries and associated companies which are not expected to be taxed in the foreseeable future. In legal entities, untaxed reserves are reported including deferred tax liability. In the consolidated accounts, however, untaxed reserves are divided between deferred tax liability and equity. Deferred tax assets regarding deductible temporary differences and loss carry-forwards are only recognized to the extent that it is likely that they will entail lower tax payments in the future. Leasing lessees Swedish Financial Accounting Standards Council recommendation RR 6:99 is applied. Leasing is classified in the consolidated accounts either as financial or operating leasing. Financial leasing exists when the economic risks and benefits associated with ownership are, in all essentials, passed on to the lessee, otherwise the lease is classed as an operating lease. Assets hired in accordance with financial leases have been entered as assets in the balance sheet. The obligation to pay future leasing fees has been reported under long-term and current liabilities. The leased assets are depreciated according to plan, while the lease payments are recognized as interest and debt repayments. With operating leasing, the leasing fee is entered as an expense over the term of the lease based on utilization, which may differ from what has in fact been paid through leasing fees during the year. In legal entities, all leasing agreements are reported in accordance with the rules for operating leasing. Consolidated financial statements The consolidated financial statements have been prepared in accordance with recommendation RR 1:00 of the Swedish Financial Accounting Standards Council. Subsidiaries Subsidiaries are companies in which the Parent Company directly or indirectly owns more than 50% of the number of votes or in some other way has a controlling influence over the operational and financial management. Subsidiaries are generally recognized in accordance with the acquisition method. With the acquisition method, the acquisition of a subsidiary is considered a transaction whereby the Parent Company indirectly acquires the subsidiary s assets and assumes its liabilities. As of the acquisition date, the acquired company s income and expenses, identifiable assets and liabilities and any goodwill or negative goodwill are included in the consolidated accounts. The Proplate was formed through a reorganization within the to which it belongs. The subsidiaries were acquired on April 30, 2008. The purchase sum corresponded to the Parent Company s book values. The negative difference which arose as a result of the transaction, i.e. because the acquired companies adjusted equity exceeded the purchase sum, has been added directly to equity. Furthermore, the s costs and accumulated depreciation/amortization in notes for plant have been recognized consistently with the former structure. Inter-company profit within the is eliminated in its entirety. In the Parent Company accounts, participations in subsidiaries are measured at cost less any write-down. Only the dividend received from profit earned after the acquisition is recognized as a dividend. Goodwill goodwill arises when the cost on acquisition of participations in subsidiaries exceeds the fair value of the acquired company s identifiable net assets. Goodwill is entered at cost less accumulated value adjustments. information Of the Parent Company s total sales measured in SEK, 100% (100%) of sales relate to transactions with other companies within the whole corporate group to which the company belongs. The Parent Company does not purchase any goods. 44 45

Note 1 Auditor fees and remuneration Parent Company Auditing, PWC 154 92 154 92 The assignment included auditing services only. Note 2 Employees and costs of personnel Sick leave, May 1, 2010 May 1, 2009 Apr 30, 2011 Apr 30, 2010 Total sick leave as a percentage of standard working hours 3% 2% Percentage of total sick leave relating to consecutive sick leave of 60 days or more 13% 0% Sick leave as a percentage of each group s standard working hours: Average number of employees May 1, 2010 of whom May 1, 2009 of whom Apr 30, 2011 men Apr 30, 2010 men Parent Company 4 75% 4 75% Subsidiaries 102 92% 74 91% total 106 90% 78 90% Corporate management gender distribution Gender distribution in corporate management Apr 30, 2011 Percentage of women Apr 30, 2010 Percentage of women Parent Company Board of Directors 0% 0% total Board of Directors 0% 0% Wages, salaries, other remuneration and social security expenses May 1, 2010 - Apr 30, 2011 May 1, 2009 - Apr 30, 2010 Pay and remuneration Social security expenses Pay and remuneration Social security expenses Parent Company 4 022 2 358 4 105 2 364 (of which pension costs) 1) (945) 1) (972) Subsidiaries 33 120 12 021 24 085 8 475 (of which pension costs) (963) (1 141) total 37 142 14 379 28 190 10 839 (of which pension costs) (1 908) (2 113) Sick leave by gender: Men 3% 2% Women 5% 4% Sick leave by age category: 29 years or younger 4% 4% 30-49 years 3% 2% 50 years or older 6% 1% Note 3 Depreciation/amortization of tangible and intangible assets May 1, 2010 May 1, 2009 Apr 30, 2011 Apr 30, 2010 Parent Company Equipment 90 147 90 147 May 1, 2010 May 1, 2009 Apr 30, 2011 Apr 30, 2010 Depreciation/amortization according to plan, by asset Intangible assets 1 859 1 916 Tangible assets 9 646 9 576 11 505 11 492 1) Of the Parent Company and pension costs, KSEK 624 (KSEK 659) refers to the Board of Directors and President. Wages, salaries and other remuneration distributed between Board members etc. and other employees May 1, 2010 - Apr 30, 2011 May 1, 2009 - Apr 30, 2010 Board and President Other employees Board and President Other employees Parent Company 2 695 1 327 2 753 1 352 Subsidiaries 33 120 350 23 735 total 2 695 34 447 3 103 25 087 46 47

Note 4 Computer software Apr 30, 2011 Apr 30, 2010 Accumulated cost Opening balance 9 595 9 595 New acquisitions 456 10 051 9 595 Accumulated depreciation according to plan Opening balance -6 033-4 117 Amortization for the year according to plan -1 859-1 916-7 892-6 033 Carrying amount at end of period 2 159 3 562 Note 5 Plant and machinery on third-party property Apr 30, 2011 Apr 30, 2010 Accumulated cost Opening balance 6 040 5 113 New acquisitions 942 927 6 982 6 040 Accumulated depreciation according to plan Opening balance -2 248-1 226 Depreciation of costs for the year according to plan -1 073-1 022-3 321-2 248 Carrying amount at end of period 3 661 3 792 Note 6 Plant and machinery Apr 30, 2011 Apr 30, 2010 Accumulated cost Opening balance 76 961 61 361 New acquisitions 1 818 9 641 Reclassifications from construction in progress 1 377 5 991 Divestments and disposals -6 633-32 73 523 76 961 Accumulated depreciation according to plan Opening balance -30 948-23 259 Divestments and disposals 6 182 11 Depreciation of costs for the year according to plan -7 792-7 700-32 558-30 948 Leasing Apr 30, 2011 Apr 30, 2010 Including plant held under financial leases with a carrying amount of 17 417 22 487 Note 7 Equipment Apr 30, 2011 Apr 30, 2010 Accumulated cost Opening balance 5 031 5 015 New acquisitions 295 16 5 326 5 031 Accumulated depreciation according to plan Opening balance -3 132-2 278 Depreciation of costs for the year according to plan -781-854 -3 913-3 132 Carrying amount at end of period 1 413 1 899 Apr 30, 2011 Apr 30, 2010 Parent Company Accumulated cost Opening balance 496 496 New acquisitions 496 496 Accumulated depreciation according to plan Opening balance -318-171 Depreciation of costs for the year according to plan -89-147 -407-318 Carrying amount at end of period 89 178 Note 8 Construction in progress Apr 30, 2011 Apr 30, 2010 Opening balance 1 377 6 321 New acquisitions 7 110 1 047 Reclassification to plant -1 377-5 991 Carrying amount at end of period 7 110 1 377 Leasing Apr 30, 2011 Apr 30, 2010 Including constructions held under financial leases with a carrying amount of 1 009 Carrying amount at end of period 40 965 46 013 48 49

Note 9 Participations in companies Apr 30, 2011 Apr 30, 2010 Accumulated cost Opening balance 11 277 10 277 Disposal (voluntary liquidation) -520 New share issue 1 000 Carrying amount at end of period 10 757 11 277 Profit from participations in companies Dividend 5 000 Break-up result -4 Anticipated dividend 1 000 4 996 1 000 Spec. of Parent Company and holdings of participations in companies No. of Holding Carrying Subsidiary / Reg. no. / Domicile participations in % amount Note 11 Equity Share capital Restricted reserves Non-restricted equity Opening balance 2 000 10 021 16 873 Adjustments between non-restricted and restricted equity 5 089-5 089 Dividend -1 000 Profit for the year 16 062 At year-end 2 000 15 110 26 846 Share capital Statutory reserve Non-restricted equity Parent Company Opening balance 2 000 20 2 653 Appropriation in acc. with AGM decision Dividend -1 000 Profit for the year 5 798 At year-end 2 000 20 7 451 Proplate Oxelösund AB, 556466-2442, Oxelösund, Sweden 20 000 100,0 10 650 Proplate Material- och Produktionsstyrning AB, 556558-7754, Falun, Sweden 1 020 100,0 107 10 757 Refers to owned percentage of equity, which also corresponds to the proportion of votes for the total number of shares. Note 10 Prepaid costs and accrued income Parent Company Prepaid social security expenses 64 Prepaid payroll expenses 203 Prepaid rent 1 180 49 Other items 2 062 157 3 509 206 Note 12 Untaxed reserves Apr 30, 2011 Apr 30, 2010 Tax allocation reserves Provision for 2006 taxation 20 Provision for 2010 taxation 688 688 Provision for 2011 taxation 320 320 Provision for 2012 taxation 380 1 388 1 028 KSEK 365 (KSEK 270) of the untaxed reserves relates to deferred tax. Deferred tax is not recognized in the Parent Company balance sheet, but it is in the balance sheet. Note 13 Liabilities to credit institutions Parent Company Pledged assets for liabilities to credit institutions Chattel mortgages 58 000 1 000 Machinery 37 368 95 368 1 000 Other liabilities to credit institutions due in 1-5 years 21 695 50 51

Note 14 Bank overdraft facility Parent Company Credit limit granted, SEK 31 000 1 000 Credit limit granted, EUR 1 000 The income statement and balance sheet will be presented for adoption at the Annual General Meeting on June 16, 2011. Karlstad, Sweden. June 15, 2011 Assets are recognized in Note 13 under Pledged assets for liabilities to credit institutions. Note 15 Accrued expenses and deferred income Parent Company Accrued payroll expenses 4 841 528 Accrued social security expenses 1 831 548 Hans Åke Norås Chairman Max Björk President Anders Persson My audit report was submitted on June 16, 2011 Other items 1 991 95 8 663 1 171 Note 16 Other operating income Peter Eklund Esbjörn Löfstrand Joakim Ringman Authorized Public Accountant May 1, 2010 May 1, 2009 Apr 30, 2011 Apr 30, 2010 Audit report Currency gains on receivables/liabilities that are operational in character 2 910 4 062 Other operating income 73 2 910 4 135 To the annual meeting of the shareholders of PROPLATE AB Corporate identity number 556643-3867 Note 17 Other operating expenses May 1, 2010 May 1, 2009 Apr 30, 2011 Apr 30, 2010 Currency losses on receivables/liabilities that are operational in character -3 451-5 159 Other operating expenses -296-14 -3 747-5 173 I have audited the annual accounts, the consolidated accounts, the accounting records and the administration of the board of directors and the managing director of PROPLATE AB for the financial year 2010-05-01 2011-04-30. These accounts and the administration of the company and the application of the Annual Accounts Act when preparing the annual accounts and the consolidated accounts are the responsibility of the board of directors and the managing director. My responsibility is to express an opinion on the annual accounts, the consolidated accounts and the administration based on my audit. I conducted my audit in accordance with generally accepted auditing standards in Sweden. Those standards require that I plan and perform the audit to obtain reasonable assurance that the annual accounts and the consolidated accounts are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the accounts. An audit also includes assessing the accounting principles used and their application by the board of directors and the managing director and significant estimates made by the board of directors and the managing director when preparing the annual accounts and consolidated accounts as well as evaluating the overall presentation of information in the annual accounts and the consolidated accounts. As a basis for my opinion concerning discharge from liability, I examined significant decisions, actions taken and circumstances of the company in order to be able to determine the liability, if any, to the company of any board member or the managing director. I also examined whether any board member or the managing director has, in any other way, acted in contravention of the Companies Act, the Annual Accounts Act or the Articles of Association. I believe that my audit provides a reasonable basis for my opinion set out below. The annual accounts and the consolidated accounts have been prepared in accordance with the Annual Accounts Act and give a true and fair view of the company s and the group s financial position and results of operations in accordance with generally accepted accounting principles in Sweden. The statutory administration report is consistent with the other parts of the annual accounts and the consolidated accounts. I recommend to the annual meeting of shareholders that the income statements and balance sheets of the parent company and the group be adopted, that the profit of the parent company be dealt with in accordance with the proposal in the administration report and that the members of the board of directors and the managing director be discharged from liability for the financial year. Karlskoga June 16 th, 2011 Joakim Ringman Authorized Public Accountant 52 53

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