BIG SOLAR S.A.

HEADQUARTERS: ASPROPYRGOS, ATHENS P.C.S.A. REGISTER No 68216/03//09/34 - No G.E.MI: 121836707000

BALANCE SHEET (for the year ended 31st December 2012) According to the "Greek Accounting Standards" - 3rd FINANCIAL YEAR (JANUARY 1, - DECEMBER 31, 2012) IN EURO
ASSETS
C. FIXED ASSETS
Cost Acc. Depreciation
. Tangible Assets
4. Machinery and equipment
241.371,92
23.977,66
5. Vehicles
104.255,26
10.449,37
6. Furniture & other equipment
349.288,42
169.396,73
7. Assets under construction
62.054,00
0,00

Total of Tangible Assets

756.969,60
203.823,76
=============== ================
. nvestments & other long term receivables
1. Investments in affiliated companies
7. Other long - term receivables

31.12.2012
Net Book value
217.394,26
93.805,89
179.891,69
62.054,00

553.145,84
================
153.683,45
54.673,00

208.356,45
================
761.502,29
================

otal Fixed assets

D. CURRENT ASSETS
. Inventories
1. Merchandise
3. Finished & Semi - finished products
5. Prepayments for inventories purchase

6.412.929,96
0,00
28.125,00

6.441.054,96
================

. Trade and other receivables

1. Trade receivables
Less: Provision for doubtful debts
3a. Post dated cheques
11. Other Debtors
12. Other Advances & Credits

13.330.321,22
632.500,00 12.697.821,22

5.456.832,63
4.343.753,62
164.865,78

22.663.273,25
================

. Securities
1. Shares
V. Cash & Banks
1. Cash on hand
3. Cash in banks
Total current assets
. PREPAYMENTS AND ACCRUED INCOME
1. Prepaid expenses
3. Accrude income
TOTAL ASSETS
DEBIT MEMO ACCOUNTS
1. Assets belonging to third parties
2. Debit accounts of guarantees & colateral
4. Other memo accounts ( debit )

31.12.2012
31.12.2011
31.12.2011 LIABILITIES
Cost Acc. Depreciation Net Book value . SHARE CAPITAL
. Participial capital
(15.000 shares, 10,00 )
239.311,40
11.445,91
227.865,49
1. Paid in capital
150.000,00
150.000,00
27.401,27
1.519,48
25.881,79
================ ================
22.385,07
17.517,59
4.867,48 V. Reserves
1. Statutory Reserve
50.000,00
50.000,00
49.850,00
0,00
49.850,00
================ ================

338.947,74
30.482,98
308.464,76 V. Retained earnings
================ ================ ================
Profit brought forward
13.440.648,35
3.083.303,38
================ ================
0,00 VI. Sums intended for increase of capital
1. Shareholders' deposits
300.000,00
10.700,00
5.400,00
================ ================

Total shareholders equity

13.940.648,35
3.294.003,38
5.400,00
================ ================
================
313.864,76 C. LIABILITIES
================
. Current Liabilities
1. Trade payables
7.228.620,58
837.054,52
79.633,40
330.000,00
4.332.048,10 2a. Post dated cheques payable
3. Bank overdrafts
339.712,38
927.303,94
166.317,89
4. Customer advances
6.505.919,52 3.651.988,78
116.053,95

5. Taxes & duties payable

3.457.222,17 1.031.918,31
4.614.419,94
================
6. Social security contributions payable
73.008,31
32.048,52
11. Other payables
44.078,70 3.392.645,61
3.260.696,76

17.728.195,06
10.202.959,68
172.500,00 3.088.196,76 Total current liabilities
================ ================

2.549.311,90 D. ACCRUALS
2. Accrued expenses
0,00
561,79
1.112.595,52
3. Other transit credit balances
6.571,13
0,00
12.535,76

6.571,13
561,79
6.762.639,94
================ ================
================

================

48.313,94

================

0,00

100.821,56
1.628.618,63

1.729.440,19
================
30.882.082,34
================

80.175,92
818.993,44

899.169,36
================
12.276.229,24
================

31.829,91
0,00

31.829,91
================
31.675.414,54
================

17.882,43
889.548,42

907.430,85 TOTAL EQUITY & LIABILITIES

================
CREDIT MEMO ACCOUNTS
13.497.524,85
================
1. Assets belonging to third parties
2. Credit balances of guarantees
0,43
& colateral security
130.000,00
4. Other memo accounts ( credit )
8.557.093,06

8.687.093,49
================

0,77
910.704,70
0,00

910.705,47
================
31.12.2012
97.068.524,04
79.613.017,39

17.455.506,65
164.198,45

17.619.705,10

31.12.2011
36.202.050,54
30.160.559,06

6.041.491,48
4.308,42

6.045.799,90
943.289,70
927.451,33

-79.765,08

13.560.932,83
7.248,99
0,00

-474.786,13

13.086.146,70
0,00

13.086.146,70
-2.728.801,73
0,00

10.357.344,97
================

THE CHAIRMAN OF THE BOARD OF DIRECTORS

Net results before tax

Retained earnings B/T
Total
Minus: 1. Income tax
2. Other taxes

1.870.741,03 Profits for distribution

4.175.058,87 Distribution of profits is as follows:
1. Statutory reserve
3.601,86
8. Profits brought forward
42.630,09
-39.028,23

4.136.030,64

3.979.007,19
13.640.697,91

0,77
910.704,70
0,00

910.705,47
================

0,43
130.000,00
8.557.093,06

8.687.093,49
================

APPROPRIATION ACCOUNT

PROFIT & LOSS ACCOUNT for the year ended 31st December 2012

. OPERATING RESULTS
Sales
Less: Cost of goods sold
Gross Profit
Plus other operating income
Total
Less: 1. Administrative expenses
2.287.882,76
3. Selling expenses
1.691.124,43

Operating results before financial income -net

Plus: 4. Interest & related income
19.333,08
Less: 3. Interest & related expenses
99.098,16

Total net operating income before extraordinary items & taxes

. PLUS: EXTRAORDINARY ITEMS
1. Extraordinary income
7.187,20
3. Prior period income
964,90
8.152,10

Less: 1. Extraordinary and nonoperating

expenses
15.235,31
3. Prior period expenses
7.702,92
4. Provisions for doubtful accounts
460.000,00
482.938,23

Net income after extraordinary items & before taxes & extra depreciation
LESS: Total depreciation recorded
173.340,78
LESS: Normal depreciation (included in the operating cost)
173.340,78

NET INCOME BEFORE TAX

Aplicable income tax
Other nonoperating taxes & levies
PROFIT AVAILABLE FOR DISTRIBUTION

31.675.414,54
13.497.524,85
================ ================

31.12.2012
13.086.146,70
3.083.303,38

16.169.450,08

2.728.801,73
0,00

2.728.801,73

13.440.648,35
================

31.12.2011
3.970.589,91
-19.671,01

3.950.918,90

817.330,52
285,00

817.615,52

3.133.303,38
================

0,00
13.440.648,35

13.440.648,35
================

50.000,00
3.083.303,38

3.133.303,38
================

7.248,99

189,72
0,00
172.500,00
172.689,72
-165.440,73

3.970.589,91
22.570,17
22.570,17
0,00

3.970.589,91
-817.330,52
-285,00

3.152.974,39
================
Aspropirgos , 20 March 2013
THE MANAGING DIRECTOR

IOANNIS P. BITROS
ID. No AB 049848 / 05.01.2006

THE ACCOUNTIG DEPT. MANAGER

STAVROS N. GATOPOULOS
TEODOROS A. KOKORIS
ID. No AB 520095 / 14.07.2006
ID. No AE 524378 / 26.04.2007
Independent Auditors Report
To the Shareholders of Big Solar SA
Report on the Financial Statements. We have audited the above financial statements of Big Solar SA (the Company) which comprise the balance sheet as of 31 December 2012, the income statement and appropriation account
for the year then ended and the related notes therein. Managements Responsibility for the Financial Statements. Management is responsible for the preparation and fair presentation of these financial statements in accordance
with Accounting Standards prescribed by the Greek General Chart of Accounts and the provisions of articles 42a up to 43c of the Codified L.2190/1920 and for such internal control as management determines is necessary to enable
the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with 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. Basis for Qualified Opinion. 1. The tax liabilities of the Company have not been examined by the
tax authorities since its inception. As a result, the tax results/liabilities for fiscal years up to 2012 have not been finalized. The Company has not made an estimate of the amount of the additional taxes and duties that may be imposed
in case of a future tax audit and has not raised a relevant provision for this contingent liability. From our audit, we have not obtained reasonable assurance in relation to the exact amount of the provision that might be needed. 2.
Since we were appointed as auditors of the Company at 8 June 2012, it was not possible for us to be present during the physical stock count performed by the Company at the beginning of the current year or to confirm the quantity
of inventory as at 31 December 2011 through alternative auditing procedures. Consequently, it was not possible for us to determine whether there would be an impact on the opening inventory and consequently on the results of the
current year. Qualified Opinion. In our opinion, except for the possible effects of the matters described in the Basis for Qualified Opinion paragraphs, the financial statements present fairly, in all material respects, the financial position
of Big Solar SA as at 31 December 2012, and of its financial performance for the year then ended in accordance with the Accounting Standards prescribed by the Greek General Chart of Accounts and the provisions of articles 42a up
to 43c of the Codified L.2190/1920. Reference on Other Legal and Regulatory Matters. We verified the conformity and consistency of the information given in the Board of Directors report with the above financial statements in accordance
with the requirements of article 43a and 37 of Codified Law 2190/1920.
Athens, June 6, 2013
PricewaterhouseCoopers

Anonymous Auditing Firm

Chartered Accountants
Av. Kifissias 268, 15232 Athens
Registration No 113

Constantine Mihalatos
REGISTRATION No 17701
KRONOS S.A.