RomReal Ltd.

Audit Report / Information • Apr 15, 2014

Statsautoriserte revisorer Ernst & Young AS

Thormøhlens gate 53 D, NO-5008 Bergen Postboks 6163 Bedriftssenter, NO-5892 Bergen

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To the Annual Shareholders' Meeting of RomReal Ltd

AUDITOR'S REPORT

Report on the Financial Statements

We have audited the accompanying financial statements of RomReal Ltd, comprising the financial statements for the Parent Company and the Group. The financial statements of the Parent Company and the Group comprise the statement of financial position as at 31 December 2013, the income statement, the statement of comprehensive income, the cash flow statement and statement of changes in equity for the year then ended as well as a summary of significant accounting policies and other explanatory information.

The Board of Directors' and Chief Executive Officers' Responsibility for the Financial Statements

The Board of Directors and Chief Executive Officer are responsible for the preparation and fair presentation of these financial statements in accordance with the International Financial Reporting Standards as adopted by the EU, and for such internal control as the Board of Directors and Chief Executive Officer determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Parent Company and the Group as at December 31, 2013, and their financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by EU.

Bergen, 15 April 2014 ERNST & YOUNG AS

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Jørn Knutsen State Authorized Public Accountant (Norway)