Ratos — M&A Activity 2009

Dec 7, 2009

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

P R E S S R E L E A S E 7 December 2009

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

EuroMaint makes strategic German acquisition

Ratos's wholly owned subsidiary EuroMaint has signed an agreement to acquire the leading independent German train maintenance company Rail Service Management Group (RSM). The seller is Hermann Weise and the purchase price amounts to EUR 18m (Enterprise Value). The acquisition means that EuroMaint will become the leading independent player within train maintenance in Europe.

EuroMaint has signed an agreement to acquire the German company RSM which has operations within maintenance of goods wagons, freight and passenger trains in Europe. RSM has a leading position as an independent maintenance supplier in Germany and is also established in the Netherlands, Belgium and Poland. The company's 2008 sales totalled EUR 94m with an operating profit (EBITA) of EUR 5.4m. The company has approximately 800 employees.

"The acquisition of RSM means that we are now building a significant platform for future expansion in the growing market for maintenance of both freight and passenger traffic. RSM is a profitable and wellpositioned player with an excellent geographic coverage," says EuroMaint CEO Ole Kjörrefjord.

Ratos acquired EuroMaint, one of Sweden's leading providers of qualified maintenance services to the rail transport sector and engineering industry, in 2007. Operations are conducted by the two subsidiaries EuroMaint Rail (84% of sales) and EuroMaint Industry (16% of sales).

"When we acquired EuroMaint RSM was identified as a strategic and prioritised add-on acquisition. This makes it very gratifying to now be able to carry out this acquisition and establish EuroMaint as the leading independent player in the growing and increasingly deregulated European train maintenance market," comments Ratos CEO Arne Karlsson.

EuroMaint has 1,750 employees and sales in 2008 totalled SEK 2,300m with an operating profit (EBITA) of SEK 122m. In the period January-September 2009 sales amounted to SEK 1,812m (1,704) and operating profit was SEK 93m (93).

Ratos will provide capital corresponding to the entire purchase price in conjunction with the acquisition. The deal is subject to approval from the competition authorities. Ratos's holding in EuroMaint amounts to 100%.

For further information, please contact: Arne Karlsson, CEO Ratos, +46 8 700 17 00 Ole Kjörrefjord, CEO EuroMaint, +46 707 62 52 00 Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63

Financial calendar from Ratos:
Year-end report 2009	18 February 2010
Annual General Meeting 2010	15 April 2010
Interim Report January – March 2010	6 May 2010
Interim Report January – June 2010	20 August 2010
Interim Report January – September 2010	4 November 2010

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. Ratos's equity is approximately SEK 15 billion and has a market capitalisation of approximately SEK 29 billion. Ratos's holdings include AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, Hafa Bathroom Group, Haglöfs, HL Display, Inwido, Jøtul, Lindab, MCC, Medisize, Scandinavian Business Seating, Superfos and Other holdings.