I. Application of IFRS – Basic Notes

technotrans AG is a publicly traded corporation domiciled in Sassenberg, Germany. The company is entered on the register of the local Court of Münster under the number HRB 9086. These Consolidated Financial Statements of technotrans AG and its subsidiaries (the “group”) at December 31, 2017 were approved for presentation to the Supervisory Board by resolution of the Board of Management of March 5, 2018. The task of the Supervisory Board is to examine the Consolidated Financial Statements and declare whether it will sign off the Consolidated Financial Statements.

The Consolidated Financial Statements have been prepared on the basis of Section 315e of German Commercial Code (“Consolidated financial statements to International Financial Reporting Standards”) in accordance with the International Financial Reporting Standards (IFRS) and the accompanying interpretations of the International Accounting Standards Board (IASB). All standards the application of which is mandatory, as adopted by the European Union, were applied.

The Consolidated Financial Statements are based on standard recognition and measurement principles. They are expressed in € thousand.