United International Enterprises : Cash offer to shareholders of MSAB 14 November 2017

COMPANY ANNOUNCEMENT

No. 54/2017

Copenhagen, 14 November 2017

UIE PARTICIPATES IN A BIDDING CONSORTIUM ANNOUNCING A CASH OFFER TO THE SHAREHOLDERS OF MELKER SCHÖRLING AB

United International Enterprises Limited ("UIE") hereby announces that UIE has agreed to exchange its shares in Mel- ker Schörling AB ("MSAB") with shares in a newly formed company, Schörling & Partners AB, which today has made an unconditional cash offer to the shareholders of MSAB to acquire all shares of MSAB.

Schörling & Partners AB holds 92.6% of the shares and votes in MSAB.

Schörling & Partners AB is jointly owned by Melker Schörling Tjänste AB ("MSTAB"), Stefan Persson ("SP"), UIE and Mikael Ekdahl AB ("ME"). All of these were previously shareholders in MSAB, holding a total of 92.6% of the shares in MSAB, and have all exchanged their shares in MSAB for shares in Schörling & Partners AB.

Schörling & Partners AB have offered to buy the remaining shares in MSAB from the remaining shareholders at a

price corresponding to the net asset value of MSAB.

For further information regarding the offer to the shareholders in MSAB, please see www.sochpartners.se.

When the offer to the remaining shareholders in MSAB has expired, Schörling & Partners AB will initiate a compulsory

redemption of any remaining shareholders in MSAB, and MSAB will be delisted.

The delisting will only affect MSAB and not the companies in which MSAB holds shares.

Upon completion of the offer, UIE's indirect shareholding in MSAB will increase marginally from 1.7% to 1.8%.

The ownership of MSAB before and after the transactions may be illustrated by the following:

MSTAB ME Other UIE SP

MSTAB ME UIE SP

In connection with the above transactions, UIE has entered into a shareholders' agreement with the other sharehol- ders in Schörling & Partners AB.

The shareholders' agreement gives UIE the right to appoint one board member in Schörling & Partners AB.

UIE has a put option, giving UIE the right to require MSTAB to buy UIE's shares at a price corresponding to the net asset value of the shares. This option may, however, at the earliest be exercised three years after expiry of the ac- ceptance period of the offer to the shareholders in MSAB, i.e. in December 2020. Except for such transfers, UIE may not transfer its shares in Schörling & Partners AB.

MSTAB has a call option, giving MSTAB the right to buy UIE's shares at a price corresponding to the net asset value of the shares. This option may, however, at the earliest be exercised four years after expiry of the acceptance period of the offer to the shareholders in MSAB, i.e. in December 2021.

Finally, the shareholders' agreement contains drag-along and tag-along provisions.

Instead of holding 1.7% of the shares in MSAB, UIE will hold 1.8% of the shares in Schörling & Partners AB which after completion of the offer to the remaining shareholders will hold all shares in MSAB. UIE's percentage shareholding will thus increase, but the debt in the group will increase in order to finance the redemption of the other sharehol- ders.

The underlying assets will remain the same, and the value of UIE's shares in Schörling & Partners AB will be the same as the value of UIE's shares in MSAB.

The transactions between UIE and Schörling & Partners AB are handled as an exchange of shares and will thus not involve any cash to or from UIE.

UIE still considers the investment in MSAB to be a long-term investment.

The transactions will not affect UIE's results for 2017 or 2018, and UIE's investment in MSAB will continue to be accounted for at fair value with movements being recognised in the income statement. After the transactions, the fair value will be based on the net asset value of MSAB as opposed to previously where the fair value was based on the share price of MSAB.

MSAB is a long-term and active shareholder and all of the companies that MSAB has invested in have a clear strategy and direction and a continued strong development potential. Today, the larger companies belong to the world-leading within each of their operational area. MSAB's holding consists of the six listed companies Hexagon, HEXPOL, AAK, ASSA ABLOY, Securitas and Loomis. MSAB's largest investment is Hexagon of which the company owns 26% of the capital and 47% of the votes. Through a long-term and active ownership, MSAB will contribute to a continued good development of the holdings and create value for the shareholders of MSAB. (For further information see www.melkerschorlingab.se).

Yours faithfully,

UNITED INTERNATIONAL ENTERPRISES LIMITED