Nemko makes the world a safer place by safeguarding products, the environment, people and systems. INTEGRITY • COMPETENT • CARING • IMPROVING

1. Annual
performance
2015
ONE Nemko
IT • Telecom • Audio
Video • International approval
Household appliances • Maritime
Oil & gas • Healthcare equipment
Testing • Compliance without complexity
Better safe than sorry • Internet of things • Time
to market • Added value • Certification • Global • Local
Regulatory • IECEE • Conformity • Electro technical products
Inspection • Caring • Third party • Pre compliance • Integrity
Competent Improving • CB • International • one world - our approval

2. Our vision
Nemko makes the world a safer place by safeguarding products, the environment,
people and systems.
Mission statement
Nemko creates value by being a customer-oriented and knowledge-driven
company. Profitable growth is achieved by assisting our customers with testing,
certification and international market access for electrical products.
Values
Our values safeguard the way we work
INTEGRITY • COMPETENT • CARING • IMPROVING
Ethical policy
The Nemko Group ethical policy is anchored in our business strategy, our
leadership principles and our values. All the business units across the globe have
given input to the policy and it guides us in our everyday way of working and in
our interaction with all stakeholders.

3. Table of contents
Message from the CEO 4
Highlights 2015 5
Nemko in figures 6
Our services 8
Compliance without complexity 10
Nemko in brief 12
Board of directors 16
Income statement 17
Balance sheet 18
Cashflow statement 20
Auditor’s report 21
Contact information 23
Companies around the world trust Nemko to assess their products, systems, installations and personnel for
conformity with relevant ­standards and regulations.
Since 1933, we have ensured that our customers comply with requirements for electrotechnical products
anywhere in the world. Our services include pre-compliance, international approval, product and system
certifications as well as product testing.
Through our offices, laboratories and extensive partner network in Asia, North America, South America,
Europe, Middle East and Africa we are able to serve our customers in a reliable, efficient and open manner.
We provide local presence coupled with global knowledge. One world – our approval.
One world – our approval
Må oppdateres
ANNUAL PERFORMANCE 2015 3

4. We deliver
As we enter 2016, I am proud to report that it was with
sound results, a strengthened organisation and with
renewed confidence from the market place.
In 2015, total revenue for the group was up 13
percent and the operating profit margin, adjusted for
extraordinary items related to changes in the pension
scheme in Norway, was 5 percent. All regions in the
group contributed to the results that we achieved in
2015. Our financial strength and solidity improved
in 2015 as a result of the capitalisation of the group,
and we now have a solid base for further strategic
development in the years to come.
GOOD BUSINESS LANDSCAPE
The global testing, inspection and certification (TIC)
industry is steadily growing. New products are
being launched at shorter intervals, whilst trade and
production is becoming more and more global. We
see an increase in regulatory changes, laws and
new requirements. At the same time, businesses are
restructuring and streamlining their organisations,
increasingly relying on outsourcing the highly
specialised TIC services, thus making companies
like Nemko a more integral part of their value chain.
We guide our customers through this complexity and
support them in enhancing global trade. Our customers
want to work with responsible partners and Nemko,
through its business model and transparency in the way
we work, satisfies these requirements.
With our international approval services we are
particularly well positioned to grow together with our
customers. In 2015 we have seen an increase in the
number of certificates sold, new markets and high
demand, especially for our Indian route for international
approval.
ONE NEMKO
In 2015, we initiated a number of internal programmes
under the umbrella of the ONE Nemko philosophy,
supporting our main focus – to deliver as promised!
We have developed and launched our next generation
leadership training with the ambition to persistently
enhance our intercompany collaboration and to better
serve our customers in all markets.
In order to increase company-wide transparency,
we have incorporated the identification of individual
employee goals derived from company strategic goals
through our annual employee dialogues. We have
further developed our ONE Nemko culture programme
– and in March all employees were encouraged to share
how our common cultural statements assist and guide
each and every one of us in our daily work.
In our home market, Norway, in cooperation with
selected stakeholders, we have initiated a programme
aimed at better positioning Nemko with the end-users
by increasing their awareness and understanding. This
will be launched early in 2016.
CUSTOMER CENTRIC
Are we yet again facing a major technology shift in the
market place? How will transitions, like the internet
of things, cloud computing, big data analytics and
mobility, further affect our business and that of our
customers? I am adamant that we shall relentlessly
and consistently improve our listening skills, our
anticipation of and adaption to our customers’ needs,
both present and future.
Our annual customer satisfaction survey tells us that
we are on the right track, with 85 percent
of our customers being satisfied or very
satisfied with our services. This is an
improvement on last years’ good results.
I am proud of what we have achieved
together this year and I would like to
thank all our employees, customers and
business partners for contributing in
making 2015 a very good year for
Nemko.
Svein Ola Ulven
President CEO
4 ANNUAL PERFORMANCE 2015

5. Highlights 2015
Excellent improvement of performance on Nemko
Group level. The financial restructuring of the group
done in 2015 has substantially improved our solidity
and competiveness. Nemko is well positioned for the
future.
Svein Ola Ulven is appointed President CEO of
Nemko.
Opened up market access routes to Ecuador, Chile
and Colombia.
Expansion of the facility and investment in energy
laboratory in Nemko Korea. This strengthens
Nemko’s presence in Asia and enables us to take
advantage of the growing business within energy
testing in the region.
Samsung first company to get the new Nemko
Europe certificate, confirming that a third party has
tested a product’s compliance with strict European
environmental and safety regulations.
Created a new section on our website; www.nemko.
com, international approval in order to make market
access information more available and provide
country specific requirements.
Improvement in annual customer satisfaction score
where 85 percent of all customers are satisfied or
very satisfied with Nemko’s services.
In close cooperation with both customers and
selected business partners we have developed a
communication campaign for the Norwegian market
in order to increase knowledge and awareness of
Nemko and our services. This campaign will be
launched early 2016.
Developed and launched a next generation leaders
programme, continuing to build competence and
capacity within management and leadership. The
one-year programme started up in Oslo in December
2015, counts 18 participants, of which 30 percent are
women.
Growth of 13% within our market access services
stating our ability to help our customers globalize
their products and to be a more integrated part of
their value chain.
Maintained our strong number three position in the
global CB ranking.
Strong 30 percent growth in our telecommunication
certification body (TCB) operation.
Approved for hazard based standard IEC 62368-1
within the IECEE/CB scheme and in the process to
have this standard added to our OSHA/NRTL scope
in region North America.
Have applied to the Gulf Standards Organization
(GSO), based in Riyadh, Saudi Arabia, to become a
designated notified body for certification of electrical
products to be marketed in the Arabic Gulf region,
comprising Kuwait, UAE, Bahrain, Oman, Qatar, Saudi
Arabia and Yemen.
ANNUAL PERFORMANCE 2015 5

6. Nemko in figures
Revenues
0
100 000
200 000
300 000
400 000
500 000
600 000
201520142013
NOK 1 000
Revenue per region
32 %
Europe
North America
Asia
38 %
30 %
Number of employees per region
Total 2015: 445
Men Women
Europe
North America
Asia
44 %
38 %
29.2 %
12.4 %
23.4 %
14.8 %
5.4 %
14.8 %
18 %
4 400
20 245projects for
In 2015, Nemko completed
customers globally.
6 ANNUAL PERFORMANCE 2015

7. Equity ratioOperating profit margin
0
10
20
30
40
50
60
70
201520142013
%
-6
-4
-2
0
2
4
6
201520142013
%
International approval services
per region
Africa
Asia
Australia
Europe
Middle East
Middle/South America
19 %
8 %
25 %
4 %
32 %
11 %
• The CB scheme has grown
by 8.5% from 2014 to 2015
• Maintained no.1 position
within audio/video and
household appliances
• Nemko no. 2 in recognised
CB test certificates
Nemko no. 3 in
global CB ranking
*Adjusted before non occuring effects
ANNUAL PERFORMANCE 2015 7

8. Our services
Pre-compliance: assessment of the design of a product
according to applicable standards
International approval: assessment of a product and/or
manufacturer qualification according to country-specific
import regulations and sales requirements
Industries we serve
Product and system certification: certification according to
various schemes
Product testing: assessment of a product according to a
standard
IT, audio video
Telecom
Household appliances
Healthcare equipment
Maritime, oil gas
Lighting equipment
Defence industry
Electrical installation material
Fire security
Building inspection
Machinery
Management system certification
8 ANNUAL PERFORMANCE 2015

9. Recognitions and accreditation status
An excerpt of certifications and marks
STzz
Nemko
17
0470
Other recognitions and accreditations
• NCB and 17 accepted CBTLs within the IECEE/CB
scheme
• Member body of the European EEPCA/ECS (ENEC
and CCA schemes)
– The Nemko Group holds the following national
accreditations
– Testing and calibration according to ISO/IEC 17025
– Product certification according to ISO/IEC 17065
– Management system certification according to
ISO/IEC 17021
– Personnel certification according to ISO/IEC 17024
• Also, some of the labs have special accreditations by
Russian ROSSTANDART, Taiwanese BSMI, Korean
NRRA, Australian NATA, German ZLS, Canadian SCC
and US OSHA
European notified body status
Nemko (0470)
• Low voltage directive 2006/95/EC
• Electromagnetic compatibility
(EMC) 2004/108/EC
• Medical devices 93/42/EEC
• Equipment and protective
systems intended for use in
potentially explosive atmospheres 94/9/EC
• Radio and telecommunications
terminal equipment 99/5/EC
• Marine equipment 96/98/EC
• Construction products
regulation (CPR) 305/2011
ANNUAL PERFORMANCE 2015 9

10. Compliance without complexity
Our Nemko Europe certification service provides lasting CE
compliance for all electrical and electrotechnical products.
CE marking is mandatory in order to gain access to the
European market.
Furthermore, a growing number of directives has made
compliance for a manufacturer or OEM (original equipment
manufacturer) producer of electrical and electrotechnical
products an increasingly complex matter.
A complete compliance solution:
Nemko certificate
(electrical safety
and EMC) with the
right to use the
certification mark on
your product
Updates on
relevant standards
and directives
Factory inspection
for valid certificates
Prefilled
EU Declaration of
Conformity (DoC)
Testing of product
and verification
of documentation
10 years storage
of mandatory
CE Technical
Construction File (TCF)
Nemko Europe
certificate with the
right to use the
certification mark on
your product
In todays’ global market, there is no shortage of alternative
products. That is why it is increasingly important to meet
customer expectations when it comes to safety, health and
environmental sustainability.
With this certification service we have made it easier for our
customers to comply with the requirements, to keep track
of the documentation and to stay updated with the current
legislations at all times.
The Nemko Europe certification service includes the following
EUN
10 ANNUAL PERFORMANCE 2015

11. ANNUAL PERFORMANCE 2015 11

12. Through our unique combination of local presence,
international networks and bi-lateral agreements we obtain
regulatory access for our customers products in each and
every market globally.
We live in an age of ever-shorter time-to-market
requirements and a constant pressure in keeping costs
down. Globalization requires products to be sold in more
and more countries worldwide. Delays in obtaining access
We are loyal to our ethical guidelines by being compliant
with professional frameworks, regulations, standards and
agreed processes and by abiding to our ethical policy.
Our leaders will
– Set the example. As in any business practice, honesty
and integrity must be top priority for our leaders.
– Have an open door policy and welcome suggestions
and concerns from employees. This will allow employees
and their leaders to be comfortable in discussing issues
and making sound decisions. In addition, employees are
herewith in a better position to alert leaders to concerns
within their teams.
Our promise
Our ethical commitment
to new markets around the world will be costly and
result in lost sales.
Rules and regulations are changing rapidly, making
it time consuming to be up-to-date. Interpretation of
new regulations and approvals is often difficult and
takes time.
Nemko has local expertise and global knowledge.
Our employees will
– Treat everyone fairly, have mutual respect and promote
a harmonious team environment.
– Challenge harassment and discrimination.
– Support our colleagues in making the right choices
ethically, responsibly and based on our values.
– Not use corporate assets or business relationships for
personal use or gain.
– Act ethically, responsibly and in accordance with our
ethical policy
– Apply their effort and their intelligence in maintaining our
values.
Our common cultural mind-set
In Nemko, we have embraced six statements describing
the way we work and interact.
– We have customer focus!
– We create leadership opportunities!
– We are proactive!
– We support each other!
– We share our knowledge!
– We deliver as promised!
12 ANNUAL PERFORMANCE 2015

13. Svein Ola Ulven
President CEO
CFO
Region Europe
Yong Beom Choi
Region Asia
Rune Slapgard
HR, IT, QM Organisational
Development
John Bakken
Group Services
Hannes Skisaker
Global Sales Business
Development
Grant Schmidbauer
Region North America
Group management
The Nemko Group is headquartered in Oslo, Norway, with subsidiaries in Canada, China, Denmark,
Germany, Hong Kong, Italy, Japan, Korea, Sweden, Taiwan and USA.
We provide local presence coupled with global knowledge.
One world – our approval.
ANNUAL PERFORMANCE 2015 13

14. Nemko is a private, independent company owned by the
NEMKO foundation.
Objective
The objective of the foundation is to promote safety in
the sale and use of electro-technical equipment.
History
Nemko’s history goes back to 1933, when it was
established as an independent association to promote
product safety for electrical products in Norway. Nemko
had the monopoly for testing and approval of electrical
products and material manufactured, imported and sold
in Norway.
The NEMKO foundation was established 19 December
1990, as a continuation of the former state-owned
company Nemko. All such national monopolies were later
abolished by the EU – in 1991.
Mission
The foundation shall, through its wholly owned subsidiary
Nemko AS, maintain internationally competitive and
recognized test laboratories and certification bodies,
who, through their expertise and independent positions,
can contribute to safety within the sale and use of
electro-technical equipment in Norway and worldwide.
Nemko creates value by being a customer-oriented
and knowledge-driven company. Profitable growth
is achieved by assisting our customers with testing,
certification and international market access for electrical
products.
How we are organised
Ownership structure
The foundation ownership structure ensures that Nemko
has the necessary independence and integrity towards
the authorities, accreditation bodies, the customers and
the safety of the product.
The foundation is managed by a board of 10 members, of
which three are employee representatives elected by the
employees of Nemko in Norway and 7 representatives
designated by the following Norwegian industry and
trade associations:
• Elektroforeningen (Norwegian association of electrical
manufacturers, importers and wholesalers)
• Energi Norge (Energy Norway)
• Industriens Forening for Elektroteknikk og
• Automatisering (The Association for Electrotechnics
and Automation in Industry)
• IKT-Norge (The voice of the Norwegian ICT industry)
• Elektronikkbransjen (Consumer Electronics Trade
Foundation)
• NELFO, foreningen for EL- og IT bedriftene (Norwegian
Electrical Contractors’ Association)
• Norsk Industri (Federation of Norwegian Industries)
14 ANNUAL PERFORMANCE 2015

15. Our ownership structure
Nemko Group
President CEO
North AmericaEurope Asia
DNV Nemko
Presafe AS
Nemko USA Inc
San Diego
Nemko
Norway
Nemko China Ltd
Shanghai (WFOE)
Nemko CCL Inc
Salt Lake City
Nemko
Germany GmbH
Nemko China Ltd
Shenzhen
Nemko Canada Inc
Ottawa
Nemko
Italy SpA
Nemko
Hong Kong Ltd
Nemko
Sweden AB
Nemko
Taiwan
Nemko
Denmark AS
Nemko
Korea Ltd
Nemko
Japan Ltd
Norges Elektriske Materiellkontroll
(NEMKO)
Foundation
Nemko AS
100% 100% 100%
100% 100% 100%
100% 100% 100%
100% 100%
100% 100%
58%
100%
50%
100%
ANNUAL PERFORMANCE 2015 15

16. Board of directors
Ingvild Myhre
Chairman of the board
Arne Jorde
Board member
Bjørn Ove Skjeie
Board member
Ove Guttormsen
Board member
Siv Hege Solheim
Board member
Espen Eriksen
Board member
Lene Martinsen
Board member
Svein Ola Ulven
President CEO
Nemko AS is owned by the NEMKO foundation, which
is a private, independent foundation with the purpose
of working for safety in the trade and use of electronic
equipment. The Nemko Group has separate subsidiaries
in 11 countries in Europe, North America and Asia, and is
a world-leading provider of test and certification services
within electro-technical products. Nemko’s headquarters
are in Oslo. The global network is supplemented by
several strategic alliances and partnerships.
In 2015 operating revenue for the group amounted to
NOK 527.3 (460.9) million. The group’s operating revenue
adjusted for currency rate fluctuations increased by two
percent in 2015. The operating result for the group came
to NOK 48.7 (15.1) million with an EBITA margin of 9.5
percent and pre-tax result of NOK 52.5 (17.0) million.
In the autumn of 2015 Nemko AS decided to transition
from a defined benefit to a defined contribution pension
scheme for all employees in Norway. The transition led
to a positive effect through the reduction of net pension
liabilities of NOK 31 million in 2015.
In 2015 the NEMKO foundation decided to sell the
property at Gaustadalléen 30, and in connection with this
Nemko AS entered into a five-year lease with the new
owner. Part of the sales price was used for recapitalization
of Nemko AS, whose liquidity now is significantly
strengthened.
For a number of years Nemko has been a leading global
supplier of CB certificates and has in 2015 retained third
place within the CB scheme. Nemko holds first place in
the TRON (audio/video) and HOUS (household products)
product categories. Nemko is also one of the leading
providers in the number of certificates recognized by
others in the CB scheme. This reinforces Nemko’s strong
position in the area of global market access.
In 2015 Nemko launched a new certification service for
the European market, Nemko Europe. The service helps
customers identify which requirements that apply to safely
sell electrical and electro-technical products in Europe.
Samsung was the first customer to receive a Nemko
Europe certificate, which is a service that is unique to
Nemko.
In Asia Nemko has expanded its facilities in Korea, and
in August a 660 sqm extension with offices and test
facilities was ready. This extension enables further growth
ambitions in Korea, particularly aimed at environmental
and energy testing, and represents a great opportunity
in the region. In October 2015 Nemko’s premises in Salt
Lake City destroyed due to fire. No one was injured, and
the cause of the fire was not related to Nemko’s activities.
The NRTL certification for market access to North
America, which is linked to the Salt Lake City office, has
been continued without interruption, and the negative
consequences of the fire are thus significantly reduced.
For several years Nemko in Norway has worked to
strengthen profitability and customer satisfaction, and this
purposeful work also continued in 2015. The high level of
costs in Norway emphasizes the importance of ensuring
cost-effective operations, and also to concentrate services
in areas that provide better margins.
16 ANNUAL PERFORMANCE 2015

17. Group
(NOK 1 000) 2015 2014* 2014
Revenue 436 755 376 941 376 941
Other revenue 90 514 83 991 83 991
Total revenue 527 269 460 932 460 932
Salary and other personnel costs 256 072 249 144 251 222
Other operating and administrative expenses 201 608 174 501 174 501
Depreciation 19 522 18 853 18 853
Amortization 1 406 1 310 1 310
Total operating costs 478 608 443 808 445 886
Operating profit 48 661 17 124 15 046
Finance income 54 746 45 761 45 761
Finance costs (50 928) (43 784) (43 784)
Net finance 3 818 1 977 1 977
Profit before tax 52 479 19 101 17 023
Tax 17 317 6 030 6 591
Profit after tax 35 162 13 071 10 432
Minority 427 344 344
Profit after minority 34 735 12 727 10 088
*)
Comparative figures after change of principle
Income statement
ANNUAL PERFORMANCE 2015 17

18. Group
(NOK 1 000) 2015 2014* 2014
ASSETS
Fixed assets
Deferred tax asset 16 457 28 021 9 000
Goodwill 5 679 6 750 6 750
Intangible assets 22 136 34 771 15 750
Land and buildings 25 816 24 794 24 794
Lab equiment and machines 43 232 49 492 49 492
Inventory 7 630 5 636 5 636
Office and IT equipment 8 328 6 658 6 658
Fixed assets 85 006 86 580 86 580
Investments in joint ventures 3 982 4 497 4 497
Net pension assets funded plan - - 38 770
Long term receivables 10 587 7 934 7 934
Long term receivables Stiftelsen NEMKO - 16 875 16 875
Long term receivables joint venture 2 373 3 460 3 460
Financial assets 16 942 32 766 71 536
Total fixed assets 124 084 154 117 173 866
Current assets
Accounts receivables 91 448 79 558 79 558
Short term receivables Stiftelsen NEMKO - 550 550
Short term receivables intercompany 1 647 - -
Short term receivables joint venture 202 90 90
Other short term receivables 19 434 12 093 12 093
Receivables 112 731 92 291 92 291
Cash and cash equivalents 205 609 49 330 49 330
Current assets 318 340 141 621 141 621
Total assets 442 424 295 738 315 487
Balance sheet
18 ANNUAL PERFORMANCE 2015

19. Group
(NOK 1 000) Noter 2015 2014* 2014
EQUITY
Share capital 55 000 50 000 50 000
Other paid-in equity 251 825 55 325 55 325
Paid-in capital 306 825 105 325 105 325
Other equity (26 607) (64 857) (12 398)
Minority interests 1 890 1 518 1 518
Retained earnings (24 717) (63 339) (10 880)
Equity 282 108 41 986 94 445
LIABILITIES
Liabilities to credit institutions 86 77 130 77 130
Deferred tax liabilities 4 261 4 067 4 449
Pension liabilities 21 405 48 733 15 641
Statutory redundancy payments to employees 9 563 9 011 9 011
Other long term liabilities 4 214 5 416 5 416
Long term liabilities 39 529 144 357 111 647
Accounts payables 12 355 12 948 12 948
Short term payables intercompany - 2 135 2 135
Short term payables joint venture 2 699 2 279 2 279
Tax payables 1 780 1 434 1 434
Government taxes etc 19 184 19 654 19 654
Other short term payable 84 769 70 945 70 945
Short term payables 120 787 109 395 109 395
Liabilities 160 316 253 752 221 042
Total liabilities and equity 442 424 295 738 315 487
Oslo, 18 April 2016
Ingvild Myhre
Chairman of the board
Bjørn Ove Skjeie
Board member
Arne Jorde
Board member
Ove Guttormsen
Board member
Siv Hege Solheim
Board member
Espen Eriksen
Board member
Lene Martinsen
Board member
Svein Ola Ulven
President CEO
ANNUAL PERFORMANCE 2015 19

20. Group
(NOK 1 000) 2015 2014* 2014
Cash flow from operating activities
Profit before tax 52 479 19 101 17 023
Taxes paid (4 668) (2 003) (2 003)
Depreciation and amortization 20 929 20 163 20 163
Share of profit from joint ventures 515 1 226 1 226
Diff erence in cost and payments in pension (27 435) (2 263) (185)
Change in accounts receivables (11 890) 144 144
Change in accounts payables (173) 2 796 2 796
Change in balance with Stiftelsen NEMKO (1 097) (550) (550)
Change in other accruals, including currency effects (9 318) (17 879) (17 879)
Net cash flow from operating activities 19 342 20 735 20 735
Cash flow from investing activities
Sale of fixed assets - 1 369 1 369
Purchase of fixed assets (11 345) (9 336) (9 336)
Loan to Stiftelsen NEMKO 16 875 1 250 1 250
Net cash flow from investing activities 5 530 (6 717) (6 717)
Cash flow from financing activities
Change in long term liability (78 484) (9 388) (9 388)
Dividend to minority (333) (149) (149)
Emission 201 500 - -
Net cash flow from financing activities 122 683 (9 537) (9 537)
Net change in cash and cash equivalents 147 555 4 481 4 481
Cash and cash equivalents per 01.01. 49 330 36 729 36 729
Currency effect on net change in cash and cash equivalents 8 724 8 120 8 120
Cash and cash equivalents per 31.12. 205 609 49 330 49 330
Cashflow statement
20 ANNUAL REPORT 2013

21. Auditor’s report
KPMG AS Telephone +47 04063
P.O. Box 7000 Majorstuen Fax +47 22 60 96 01
Sørkedalsveien 6 Internet www.kpmg.no
N-0306 Oslo Enterprise 935 174 627 MVA
KPMG AS, a Norwegian limited liability company and member firm of the KPMG network of independent
member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.
Statsautoriserte revisorer - medlemmer av Den norske Revisorforening
Offices in:
Oslo
Alta
Arendal
Bergen
Bodø
Elverum
Finnsnes
Grimstad
Hamar
Haugesund
Knarvik
Kristiansand
Larvik
Mo i Rana
Molde
Narvik
Sandnessjøen
Stavanger
Stord
Straume
Tromsø
Trondheim
Tynset
Tønsberg
Ålesund
To the Annual Shareholders' meeting in Nemko AS
INDEPENDENT AUDITOR’S REPORT
Report on the Financial Statements
We have audited the accompanying financial statements of Nemko AS, which
comprise the financial statements of the parent company Nemko AS, showing a
profit of NOK 16 538 000, and the consolidated financial statements of Nemko AS
and its subsidiaries, showing a profit of NOK 35 162 000. The parent company’s and
the consolidated financial statements comprise balance sheet as at 31 December
2015, and the income statement and cash flow statement for the year then ended,
and a summary of significant accounting policies and other explanatory information.
The Board of Directors and the Managing Director’s Responsibility for the Financial
Statements
The Board of Directors and the Managing Director are responsible for the
preparation and fair presentation of these financial statements in accordance with
the Norwegian Accounting Act and accounting standards and practices generally
accepted in Norway, and for such internal control as the Board of Directors and the
Managing Director determine is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on
our audit. We conducted our audit in accordance with laws, regulations, and
auditing standards and practices generally accepted in Norway, including
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.
ANNUAL PERFORMANCE 2015 21

22. Independent auditor's report 2015
Nemko AS
p. 2 / 2
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.
Opinion
In our opinion, the financial statements are prepared in accordance with the law and
regulations and give a true and fair view of the financial position of the parent
company Nemko AS and of Nemko AS and its subsidiaries as at 31 December
2015, and of their financial performance and cash flows for the year then ended in
accordance with the Norwegian Accounting Act and accounting standards and
practices generally accepted in Norway.
Report on Other Legal and Regulatory Requirements
Opinion on the Board of Directors’ report
Based on our audit of the financial statements as described above, it is our opinion
that the information presented in the Board of Directors’ report concerning the
financial statements, the going concern assumption and the proposal for the
allocation of the profit is consistent with the financial statements and complies with
the law and regulations.
Opinion on Accounting Registration and Documentation
Based on our audit of the financial statements as described above, and control
procedures, we have considered necessary in accordance with the International
Standard on Assurance Engagements (ISAE) 3000, «Assurance Engagements Other
than Audits or Reviews of Historical Financial Information», it is our opinion that the
management has fulfilled its duty to produce a proper and clearly set out
registration and documentation of the company’s accounting information in
accordance with the law and bookkeeping standards and practices generally
accepted in Norway.
Oslo, 22 April 2016
KPMG AS
John Thomas Sørhaug
Stateauthorized Public Accountant
[Translation has been made for information purposes only]
22 ANNUAL PERFORMANCE 2015

23. NEMKO GROUP
Nemko AS - Head Office
Gaustadalléen 30
P.O. Box 73 Blindern,
0314 Oslo, Norway
Phone: +47 22 96 03 30
Fax: +47 22 96 05 50
DNV NEMKO PRESAFE
DNV Nemko Presafe AS
Gaustadalléen 30
P.O. Box 73 Blindern
0314 Oslo, Norway
Phone: +47 67 57 88 00
EUROPE
Nemko Germany
Nemko GmbH Co. KG
Postfach 1250,
76318 Pfinztal/
Reetzstr. 58
76327 Pfinztal (Karlsruhe area)
Germany
Phone: +49 7240 63 0
Fax: + 49 7240 6312
Nemko Italy
Nemko Spa a Socio Unico
Via del Carroccio 4,
(ang. Via Cavallotti)
20853 Biassono (MB), Italy
Phone: +39 039 220 1201
Fax: +39 039 220 1221
Nemko Sweden
Nemko Sweden AB
Alviks Strand
Gustavslundsvägen 143
16751 Bromma, Sweden
Phone: +46 8 473 00 61
Mobile: +46 708 11 97 17
Nemko Denmark
Nemko Denmark AS
Hejrevej 34
3120 Dronningmølle, Denmark
Mobile: +45 22 20 02 45
ASIA
Nemko Shanghai
Nemko China Ltd Shanghai (WFOE)
18G, Zao-Fong Universe Building
No.1800 Zhongshan West Road,
Xuhui District
Shanghai 200235, China
Phone: +86 21 54453132
Fax: +86 21 54453215
Nemko Shenzhen
Nemko Shanghai Ltd.,
Shenzhen Branch
Unit CD, Floor 10,
Financial Base Tower 2
Kefa Road 8#, Hi-Technology Park,
Nanshan District,
Shenzhen 518057, China
Phone: +86 755 82210420
Fax: +86 755 82213363
Nemko Hong Kong
Nemko Hong Kong Ltd.
Unit 23, 19/F, Tuen Mun
Central Square No. 22 Hoi Wing Road
Tuen Mun, N.T., Hong Kong
Phone: +852-2675 0288
Fax: +852-2675 0550
Nemko Taiwan
Nemko AS, Taiwan Branch
5F, No. 411, Section 2,
Tiding Blvd., Neihu, Taipei, 11493 Taiwan
Phone: +886-2-8797-8790
Fax: +886-2-8797-8791
Nemko Korea
Nemko Korea Co. Ltd.
159, Osan-ro (300-2, Osan-ri)
Mohyeon-myeon, Cheoin-gu, Yongin-si,
Gyeonggi-do (Seoul area), Korea, 449-852
Phone: +82 31 330 1700
Fax: +82 31 322 3971
Nemko Japan
Nemko Japan Ltd.
559-1, Akeno, Obata-cho,
Ise-shi, Mie-ken, 519-0501, Japan
Phone: +81 596 37 7775
Fax: +81 596 37 7737
NORTH AMERICA
Nemko San Diego
Nemko USA, Inc.
2210 Faraday Ave.
Suite 150 Carlsbad, CA 92008
Phone: +1 760 444 3500
Fax: +1 760 444 3005
Nemko Salt Lake
Nemko-CCL, Inc.
2964 West 4700 South, Suite 200,
Salt Lake City, Utah 84129
Phone: +1 801 972 6157
Fax: +1 760 444 3505
Nemko Canada
Nemko Canada, Inc.
303 River Road, Ottawa
Ontario K1V1H2, Canada
Phone: +1 613 737 9680
Fax: +1 613 737 9691
Nemko Montreal
Nemko Canada, Inc.
292 Labrosse Avenue
Pointe-Claire
Quebec H9R5L8, Canada
Phone: +1 514 694 2684
Fax: +1 514 694 3528
Contact information

24. Read more about us at nemko.com
Designandprojectmanagement:MarkhiAS
ONE WORLD OUR APPROVAL
M
ILJØMERKET
241
TRYKKSAK
716