Ratos — Capital/Financing Update 2008

Sep 2, 2008

Ratos AB (publ), Drottninggatan 2 Box 1661 SE-111 96 Stockholm Sweden Org nr/Corp. Id. no. 556008-3585, Tel +46 8 700 17 00 Fax +46 8 10 25 59 www.ratos.se

PRESS RELEASE 2 September 2008

This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.

Ratos releases SEK 473m by refinancing GS-Hydro

Ratos has carried out a refinancing of its wholly owned subsidiary GS-Hydro, which provides Ratos with a cash payment of approximately SEK 473m. The refinancing was made possible by the company's favourable performance in recent years.

GS-Hydro is a leading supplier of non-welded piping systems. Products are mainly used in the marine and offshore industries as well as in the pulp and paper, mining and metals, automotive and aerospace, and defence industries. The head office is located in Finland.

Ratos CEO Arne Karlsson: "This refinancing was made possible by GS-Hydro's strong performance in recent years. The company has a strong balance sheet, good cash flows and its future prospects remain positive."

Ratos acquired GS-Hydro in 2001 in conjunction with the buyout of Atle. The company has seen strong development since then. Sales have risen from SEK 534m to SEK 1,311m and operating profit (EBITA) from SEK 52m to SEK 184m.

Ratos will receive SEK 473m as a result of the refinancing. Ratos's consolidated book value for GS-Hydro will be adjusted by a corresponding amount.

Ratos's holding in GS-Hydro amounts to 100%.

For further information, please contact: Arne Karlsson, CEO Ratos, +46 8 700 17 00 Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63

Financial calendar from Ratos: Interim Report January – September 2008 7 November 2008 Year-End Report 2008 19 February 2009 Annual General Meeting 2009 2 April 2009

Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos offers investors a unique investment opportunity. The equity of Ratos's investments is approximately SEK 11 billion and a market capitalisation of approximately SEK 28 billion. Ratos's holdings include AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, Haglöfs, HL Display, HÅG/RH/RBM, Hägglunds Drives, Inwido, Jøtul, Lindab, MCC, Medisize, Superfos and Other holdings.