AFRY

M&A Activity • Jan 13, 2014

Press release from ÅF

For further information:

Per Magnusson, President, Industry Division +46 70 676 64 26 Viktor Svensson, Director Corporate Information +46 70 657 20 26

1(1)

ÅF acquires ES-Konsult

ÅF acquires 100 percent of the shares in ES-Konsult Energi och Säkerhet AB with revenues amounting to 70 MSEK, and strengthens its offer to customers within the nuclear industry in Sweden and internationally.

ES-KONSULT Energi och Säkerhet AB provides expert services to the Swedish and International nuclear industry in the areas of Safety analysis, Safety analysis reports, Human factors, Education and Project management. Major customers include Vattenfall, OKG, SKB (Svensk Kärnbränslehantering AB), SSM (Strålskyddsmyndigheten) and KSU (Kärnsäkerhet och Utbildning). 56 employees and experts are engaged in ES and the company has offices in Stockholm and Gothenburg. Revenues during 2013 amounted to approximately 70 MSEK with good profit.

Prior to the acquisition, ÅF has approximately 500 consultants and experts engaged in the nuclear industry in Sweden and internationally. ÅF and ES have had successful cooperations throughout the years; e.g. in projects at Ringhals, within ÅF Nuclear Academy, and in a project regarding new nuclear power in Brazil.

"The experts within ES have unique competences within for example Nuclear Safety, long-term experience within the nuclear industry and are highly regarded by the customers" comments Per Magnusson, President Industry Division. "As a consequence of the merger with ES we will complement our offering and further strengthen our competence in areas such as decommissioning."

The up-front consideration amounts to 27 MSEK, and in addition a deferred consideration based on future earnings.

ÅF AB Corporate Information

The ÅF Group is a leader in technical consulting, with expertise founded on more than a century of experience. We offer highly qualified services and solutions for industrial processes, infrastructure projects and the development of products and IT systems. Today the ÅF Group has more than 7,000 employees. Our base is in Europe, but our business and our clients are found all over the world.

ÅF AB (publ), SE-169 99 Stockholm, Sweden, Visiting address Frösundaleden 2, Solna, Sweden Phone +46 10 505 00 00. Fax +46 10 505 00 10. Registered office Stockholm. www.afconsult.com Corp. id. 556120-6474. VAT No SE556120647401. Certified according to SS-EN ISO 9001 and ISO 14001