Seven Summits Capital investment partners Investors in Privately Owned Companies

1. Seven Summits Capitalinvestment partnersInvestors in Privately Owned Companies Operational Capability  ACTIVE OWNERSHIP  Financial Experience

2. Content • Executive Summary 3 • Investment Profile 4 • A Hybrid Industrial & Financial Investor 5 • Partners 6 • Appendices 8

3. Executive Summary Seven Summits Capital Investment Partners For Professional Investors Only

4. Executive Summary Investment Profile We have extensive hands-on industrial experience and a vast network in our target segments including retired executives, family entrepreneurs and local banks and lenders providing us with deal flow and detailed knowledge of target markets and potential acquisition targets. • We are seeking to acquire non-strategic assets with know-how and technology driven profiles. • Targeting industrial small cap’s in • Clean Tech • Engineering • Automotive • Electronics • Focusing down stream the value chain • Avoiding capital intense low margin bulk businesses • Building a high quality long term PE portfolio • Acquiring private sector companies • Making direct investments • Secondary direct transactions (buying assets from PE funds, industrials or held by lenders) • Buy & Hold approach - no exit requirement For Professional Investors Only

5. Executive Summary A Hybrid Industrial & Financial Investor • We are competent and experienced in all aspects of private ownership: • Acquisition process – deal sourcing, target selection, due diligence, negotiation and closing of a deal. • Active Ownership – active hands-on implementation of business development and operational strategies. • Exit strategy – successful exits require successful target selection, active ownership, understanding of exit industry/market and pre-acquisition identified potential buyers. • We offer our investment partners: • Deal flow – we have a continuously up-dated data base of potential acquisition targets. • Both financial and industrial investors to participate as co-investors at market terms. • To be their potential buyer and exit partner in co-investments already at the acquisition stage. • We are a suitable: • Off-take partner for PE funds and industrials looking to carve-out/spin-off non strategic assets. • Partner for families seeking a long term industrial buyer of or co-investor in their family business. • Partner for banks and other lenders who are seeking an off-take partner for assets under their control. For Professional Investors Only

6. Team Partners Michael Palm Founding Partner Swedish / Swiss Jörgen Karlsson Partner Swedish • Serial entrepreneur in industry and finance • 27 years experience of international industrial operations and investment banking • Founder of, SSC, an investment company acquiring SMEs • Have successfully acquired, turned around and exited multiple companies • MSc/MBA from University of Uppsala, Sweden • Serial entrepreneur with 24 years experience of international industrial operations • Founder of an investment company acquiring and successfully turning around and exiting multiple companies • CEO of several listed and private companies • MBA (hons) Thunderbird, USA, BSc Grand Canyon University, USA example Thomas MacDowall Partner & Chairman Swedish Lawyer and co-founder of Vinge the largest law firm in Sweden Extensive experience of corporate reconstruction and international M&A 40 years in international business whereof 17 years in total in Hong Kong Lawyer from University of Stockholm member of the Swedish Bar & Hong Kong Law Society For Professional Investors Only

7. Seven Summits Capital AB / Seven Summits Advisors Hong Kong Ltd. / Seven Summits Capital Investment Partners I Ltd.Östermalmstorg 1SE-11442 StockholmSwedenwww.sevensummitscapital.comMichael Palm Mobile: +46 70 209 0074 Email: michael.palm@sscsa.com

8. Investment Strategy Acquiring Private Companies • SSC seeks to acquire non-strategic private sector companies • Family-owned industrial companies • Companies in need of development and/or restructuring • Companies on banks’ balance sheets • Institutional and individual sellers with liquidity issues • Private equity investors seeking exits • Secondary funds • Network of the GP and the Advisor • Intermediaries • SSC is an experienced investor in its target markets • Long industrial and financial experience • Networked throughout the continent • Multilingual and multicultural • Multicultural orientation is a strategic advantage • Sourcing investments • Penetrating new geographic market • In preparation for exits = primary markets For Professional Investors Only

9. Operational Strategy Active Ownership – Strong Operations… • Target Industries and Segments - SSC has a good understanding of its target industries and the ability to: • Craft tailored strategies based on operational and financial solutions • Evaluate operational risks and the potential in a wide range of industries • Apply its operational experience contributing to a stronger acquisition – operations – exit performance • Target Companies - SSC manages operational aspects and evaluate risks and potential of: • Markets and competitors • Sales organisations • Product and IP portfolios • R&D teams and product development programmes • Manufacturing and Supply Chain structures • Financial leverage of Industrial operations - SSC has knowledge and operative experience to: • Determine the level of financial leverage a business can sustain over a macro economic cycle • Buy and Build expansion strategies - SSC has the resources to execute expansion strategies through: • A team of financially competent industrialists with a stronger operational than financial profile • Strong and wide industrial networks developed over the years by team members and through networks • Own entrepreneurial experiences gives credibility in approaching acquisition targets For Professional Investors Only

10. Value Creation Active Ownership – Operational Value Creation SSC builds financial returns and creates value through operational strength. Acquisition Relevant markets and segments Potential exit alternatives identified Industrial / Operational experience = where SSC makes a difference Operational Change Management improvement/replacement Repositioning of sales and products Global expansion Asset sales Lower reliance on financial leverage high value exit options defined with investors Manager Incentives Management change High equity incentives to perform Strong management retention Capital Structure Lower cost of capital (debt structuring) Low distress cost (covenant light) Capital discipline (debt repayment) Value Creation through a LBO Lower reliance on financial leverage hands-on management of companies relying on long industry experience Exit Options when applicable M&A + trade sales Re-capitalization Opportunistic timing Incentivised management For Professional Investors Only

11. Value Creation Strong Operational Performance – Reduced Leverage Traditionally, many investors have relied too heavily on leverage and financial engineering to generate value. SSC will partially substitute leverage with: (1) better planned and managed acquisitions, (2) strength to create operational change and value through stronger hands-on industrial management. Hands-on ownership with strong operational involvement Leverage* will play a lesser role in favour of hands-on entrepreneurial management, restructuring and operational support to grow the operating bottom line and the valuation multiple at exit. * Up to 50% of the deal value control of financial risk For Professional Investors Only

12. Team Biographies – Partners For Professional Investors Only • Mr Michael Palm (Swedish/Swiss), Chairman & Founding Partner Mr Palm has more than 28 years experience of international industrial and financial markets, where he was active the majority of the period as a family business entrepreneur gaining extensive Private Equity market experience and insight into the benefits of active ownership. He is the founding partner of Seven Summits Capital, a family owned investment company active in the European Private Equity market. Between 2001 and 2012 SSC acquired, developed and exited a portfolio of European SMEs. Prior to 2001, Mr Palm spent 13 years in various management positions in the paper, chemical, commodities trading and investment banking industries in Europe and North America. He has held the position as CEO of Stora Cell International with a turn over in excess of USD1 Billion and he was also a Partner in the Global commodities trading house, CellMark, where he founded and developed a new trading division. Mr Palm has also been a corporate finance and equities analysis executive at Orkla Securities and a partner in the US Private Equity fund Sun Capital Partners. Mr Palm holds an MSc from the Swedish Agricultural University, Sweden and an MBA from the University of Uppsala, Sweden. • Mr Jörgen Karlsson (Swedish), Partner Mr Karlsson has more than 24 years experience of international industrial operations, 6 years as Business Controller/CFO and 18 years as MD/CEO of which 9 years in Germany and Switzerland. He has worked for the listed Perstorp Group, the privately held Wifag-Polytype Group and PE owned Formica/CVC. In addition, he acted as the main shareholder acquiring, developing and divesting the printing press supplier Solna Offset AB including subsidiary Ekpac Graphics Ltd China/Hong Kong. Industry experiences include decorative building materials, graphics, publishing and packaging industry with technology/process know-how in digital printing, automation, mechanical and software engineering and manufacturing. Mr Karlsson has a deep understanding of managing highly technical companies with proven improvements in product and sales development, streamlining of production and drastically improved cash flow. He has led a number of operational re-structuring cases and consolidations in different cultural settings managing customers, employees, suppliers and other third party stakeholders in the process. Almost all professional roles have involved acquisitions and divestments. Mr Karlsson holds a BSc from Grand Canyon University, USA and a MBA from Thunderbird, USA.

13. Team Biographies – Partners For Professional Investors Only • Mr Thomas MacDowall (Swedish), Partner & Chairman Mr MacDowall has more than 40 years’ experience of reconstruction of businesses internationally such as but not limited to , shipping, real estate, construction, chemistry , forestry, logistics and manufacturing including legal M&A adviser, in particular to international banks and Swedish National Debt Office, or as chairman of the board or board member.

14. Seven Summits Capital AB / Seven Summits Advisors Hong Kong Ltd. / Seven Summits Capital Investment Partners I Ltd.Östermalmstorg 1SE-11442 StockholmSwedenwww.sevensummitscapital.comMichael Palm Mobile: +46 70 209 0074 Email: michael.palm@sscsa.com