Ratos — M&A Activity 2009

Nov 20, 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 20 November 2009

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

Acquisition of minority holding in Inwido Finland

Ratos has acquired approximately 25% of the shares in Inwido Finland Oy. The purchase price amounts to EUR 8.7m and was paid with 503,640 newly issued B shares in Ratos.

Ratos has acquired a minority holding corresponding to approximately 25% of the shares in Inwido Finland Oy from Timo Vannas. Backed by a decision made at Ratos's 2009 Annual General Meeting, the Ratos board decided on payment through a directed new issue of 503,640 Ratos B shares. The subscription price is SEK 177.32 per share which corresponds to a volume-weighted average price paid on NASDAQ OMX Stockholm on 19 November 2009. The total subscription price for the new B shares amounts to SEK 89.3m and will be paid in capital contributed in kind comprising 133,408 shares in Inwido Finland Oy.

Subscription for shares and payment were carried out in conjunction with the board's new issue decision. The non-cash issue has increased Ratos's share capital by SEK 3.2m to SEK 1,019.7m and the total number of shares amounts to 161,852,892.

Ratos will sell on all shares acquired in Inwido Finland Oy to Inwido AB, which will subsequently have a 98% holding in Inwido Finland Oy.

Ratos acquired the leading Swedish window and exterior door manufacturer Inwido in 2004. Through 30 add-on acquisitions the company has subsequently acquired a strong market position in Finland, Denmark and Norway. Operations are also conducted in the UK, Ireland, Poland and Russia. The company's brands include Elitfönster, Tiivi, Storke, Diplomat and Allan Brothers.

The group currently has 3,430 employees and sales in 2008 totalled SEK 5,639m with an operating profit (EBITA) of SEK 323m. In the period January-September 2009 sales amounted to SEK 3,553m (4,229) and operating profit was SEK 230m (297).

Ratos's holding in Inwido amounts to 96%.

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: 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 28 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.