Audit report

To the annual general meeting of the shareholders of

Duni AB (publ)

Reg. no. 556536-7488

We have audited the annual report, the consolidated financial statements, the accounting records and the administration by the Board of Directors and the President of Duni AB (publ) for 2010. The Company’s annual report and the consolidated financial statements are included on pages 29-85 of the printed version of this document. The Board of Directors and the President are responsible for these accounts and the administration of the Company as well as for the application of the Annual Reports Act when preparing the annual report and the application of international financial reporting standards IFRSs as adopted by the EU and the Annual Reports Act when preparing the consolidated financial statements. Our responsibility is to express an opinion on the annual report, the consolidated financial statements and the administration based on our audit.

We conducted our audit in accordance with generally accepted auditing standards in Sweden. Those standards require that we plan and perform the audit to obtain reasonable assurance that the annual report and the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the accounting documents. An audit also includes assessing the accounting principles used and their application by the Board of Directors and the President and significant estimates made by the Board of Directors and the President when preparing the annual report and consolidated financial statements, as well as evaluating the overall presentation of information in the annual report and the consolidated financial statements. As a basis for our opinion concerning discharge from liability, we examined significant decisions, actions taken and circumstances of the Company in order to be able to determine the liability, if any, to the Company of any director or the President. We also examined whether any director or the President has, in any other way, acted in contravention of the Companies Act, the Annual Reports Act or the Articles of Association. We believe that our audit provides a reasonable basis for our opinion set out below.

The annual report has been prepared in accordance with the Annual Reports Act and gives a true and fair view of the Company’s financial position and results of operations in accordance with generally accepted accounting principles in Sweden. The consolidated financial statements have been prepared in accordance with international financial reporting standards IFRS as adopted by the EU and the Annual Reports Act and give a true and fair view of the Group’s financial position and results of operations. The directors' report and the corporate governance report are consistent with the other parts of the annual report and the consolidated financial statements.

We recommend to the annual general meeting of shareholders that the income statements and balance sheets of the Parent Company and the Group be adopted, that the profit of the Parent Company be appropriated in accordance with the proposal in the directors' report, and that the members of the Board of Directors and the President be discharged from liability for the financial year.

Malmö, 24 March 2011

PricewaterhouseCoopers AB

Bo Hjalmarsson
Authorized Public Accountant

• Summary, income statements
• Summary, balance sheets
• Key ratios in brief
• Income Statement
• Comprehensive Income
• Balance Sheet
• Changes in Shareholder's Equity
• Cash flow statement
• Parent Company
• Notes
• Audit Report