NORMA Group SE — Audit Report / Information 2010

Apr 29, 2011

Auditor's Report

To NORMA Group GmbH, Maintal:

We have audited the annual financial statements, comprising the balance sheet, the income statement and the notes to the financial statements, together with the bookkeeping system, of NORMA Group GmbH, Maintal, for the business year from January 1 to December 31, 2010. The maintenance of the books and records and the preparation of the annual financial statements in accordance with German commercial law are the responsibility of the Company's Managing Directors. Our responsibility is to express an opinion on the annual financial statements, together with the bookkeeping system, based on our audit.

We conducted our audit of the annual financial statements in accordance with § (Article) 317 HGB ("Handelsgesetzbuch" — "German Commercial Code') and German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftspru¨fer (Institute of Public Auditors in Germany — IDW). Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, financial position and results of operations in the annual financial statements in accordance with (German) principles of proper accounting are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Company and expectations as to possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures in the books and records and the annual financial statements are examined primarily on a test basis within the framework of the audit. The audit includes assessing the accounting principles used and significant estimates made by the Company's Managing Directors, as well as evaluating the overall presentation of the annual financial statements. We believe that our audit provides a reasonable basis for our opinion.

Our audit has not led to any reservations.

In our opinion, based on the findings of our audit, the annual financial statements comply with the legal requirements and give a true and fair view of the net assets, financial position and results of operations of the Company in accordance with (German) principles of proper accounting.

Frankfurt am Main, February 14, 2011

PricewaterhouseCoopers Aktiengesellschaft Wirtschaftspru¨fungsgesellschaft

Wirtschaftspru¨fer Wirtschaftspru¨fer

(sgd.) Dr. Ulrich Sto¨rk (sgd.) ppa. Stefan Hartwig (German Public Auditor) (German Public Auditor)