Accounting Principles

Statement of Compliance

The consolidated financial statements of the Company, included on pages 72 to 102 of the Annual Report 2012, have been prepared in accordance with the International Financial Reporting Standards (“IFRS”) and its interpretations, as adopted by the International Accounting Standards Board and endorsed by the European Commission.

Basis of Preparation

The principal accounting policies applied in the preparation of these consolidated financial statements are detailed below and have been prepared on a historical costs basis, unless stated otherwise. These policies have been consistently applied to all the presented years, unless stated otherwise.

The consolidated financial statements are presented in Euros, and all values are rounded to the nearest thousand (€ x 1,000), unless stated otherwise. The Company has opted to prepare a condensed profit and loss account in accordance with the exemptions provided by article 2:402 of the Dutch Civil Code in the Company Only Financial Statements.

Accounting policies

For a complete overview of TIE Kinetix N.V.'s accounting policies, review this section in the Annual Report.

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