Ratos — M&A Activity 2010

Jul 12, 2010

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 12 July 2010

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

Ratos sells Haglöfs to Asics – exit gain approx. SEK 765m

Ratos has concluded an agreement to sell all its shares in the wholly owned subsidiary Haglöfs to the Japanese company Asics for approximately SEK 1,000m. The sale will generate a net exit gain for Ratos of approximately SEK 765m and an average annual return (IRR) of approximately 30%. The sale is subject to approval from the relevant competition authorities.

Haglöfs is one of the leading outdoor brands in Europe and develops, markets and sells high-quality equipment for an active outdoor life such as backpacks, sleeping bags, clothes and footwear. Haglöfs is currently represented in 18 countries, in Europe plus Japan. Haglöfs has approximately 120 employees and the head office is in Avesta, Sweden.

Ratos became the owner of 100% of Haglöfs in conjunction with the acquisition of Atle in 2001 and has owned the company since then. During this period, Haglöfs has progressed from being a leading player in the Nordic region to one of the leading outdoor brands in Europe. Haglöfs' sales have grown from SEK 195m in 2001 to SEK 590m in 2009 and sales outside Europe have increased from SEK 21m to SEK 236m. This expansion has occurred with good profitability with operating profit (EBITA) rising from SEK 11m in 2001 to SEK 65m in 2009.

"Haglöfs is a fantastic company which through its high-quality products and strong brand has created a unique position in the outdoor sector. Now when Haglöfs is ready for the next stage in its international expansion, we see it as natural for an industrial player such as Asics to take over as owner. Our assessment is that Asics will be able to provide Haglöfs with the best support for its continued growth outside Europe," says Ratos's CEO Arne Karlsson.

The selling price for the shares (equity value) amounts to approximately SEK 1,000m and the net exit gain for Ratos will amount to approximately SEK 765m, calculated on the book value in Haglöfs at 31 March 2010. The definitive exit gain will among other things be affected by Ratos's share of profits from Haglöfs during the period until the final completion of the sale. During the over nine years Ratos has owned Haglöfs the average annual return (IRR) has amounted to approximately 30%. The sale is scheduled for completion during the third quarter.

Asics, based in Japan, is a world-leading performance footwear company. In the 2009/2010 split financial year Asics' sales totalled approximately SEK 18 billion and the company has approximately 5,350 employees.

The sale is subject to approval from the relevant competition authorities.

For further information, please contact: Arne Karlsson, CEO Ratos, +46 8 700 17 00 Mats Hedblom, CEO Haglöfs, +46 705 28 70 07 Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 733 80 22 63

Financial calendar from Ratos: 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 32 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, SB Seating, Superfos and Other holdings.