Delfin Group

Audit Report / Information • Apr 30, 2014

Ūdens iela 12-45, Rīga, LV-1007, Latvija T +371 67607902 F +371 67807092 www.p-a.lv

INDEPENDENT AUDITORS' REPORT

To the Shareholders of SIA ExpressCredit

Report on the Consolidated Financial Statements

We have audited the accompanying consolidated financial statements of SIA ExpressCredit and its subsidiaries (further in the Group) set out on pages 6 to 30 of the accompanying consolidated annual report, comprising the Group's balance sheet as of 31 December 2013, the profit or loss statement, statements of comprehensive income, changes in equity and cash flow statement for the year then ended as well as the summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Consolidated Financial Statements

Management of the holding company of the Group is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the European Union, and for such internal control as management determines is necessary to enable the preparation of the consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on the accompanying consolidated financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the consolidated financial statements give a true and fair view of the financial position of the Group as of 31 December 2013, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union.

Report on Other Legal and Regulatory Requirements

We have read the management report for 2013 and statement of management responsibility set out on pages 4 and 5 of the accompanying annual report for 2013 and did not identify material inconsistencies between the financial information contained in the management report and that contained in the financial statements for 2013.

On behalf of SIA Potapoviča un Andersone, Certified Auditors Company Licence No. 99

Kristīne Potapoviča Responsible Certified Auditor Certificate No. 99 Chairman of the Board

29 April, 2014 Riga, Latvia