Tecnotree Oyj - Company Announcement

Tecnotree Corporation’s Auditor’s Report

Tecnotree Corporation
Stock Exchange Release
13 April, 2016 at 8.33 a.m. EEST

This is the Auditor’s report for the year ended 31 December 2015 to the Annual
General Meeting of Tecnotree Corporation: 

This document is an English translation of the Finnish auditor’s report. Only
the Finnish version of the report is legally binding. 

AUDITOR’S REPORT

To the Annual General Meeting of Tecnotree Corporation

We were engaged to audit the accounting records, the financial statements, the
report of the Board of Directors and the administration of Tecnotree
Corporation for the period 1 January – 31 December 2015. The financial
statements comprise the consolidated statement of financial position, income
statement, statement of comprehensive income, statement of changes in equity
and statement of cash flows, and notes to the consolidated financial
statements, as well as the parent company’s balance sheet, income statement,
cash flow statement and notes to the financial statements. 

Responsibility of the Board of Directors and the Managing Director

The Board of Directors and the Managing Director are responsible for the
preparation of consolidated financial statements that give a true and fair view
in accordance with International Financial Reporting Standards (IFRS) as
adopted by the EU, as well as for the preparation of financial statements and
the report of the Board of Directors that give a true and fair view in
accordance with the laws and regulations governing the preparation of the
financial statements and the report of the Board of Directors in Finland. The
Board of Directors is responsible for the appropriate arrangement of the
control of the company’s accounts and finances, and the Managing Director shall
see to it that the accounts of the company are in compliance with the law and
that its financial affairs have been arranged in a reliable manner. 

Auditor’s Responsibility

Our responsibility is to express an opinion on the financial statements, on the
consolidated financial statements and on the report of the Board of Directors
based on our audit. The Auditing Act requires that we comply with the
requirements of professional ethics. Because of the matter described in the
Basis for Disclaimer of Opinion paragraph, however, we were not able to obtain
sufficient appropriate audit evidence to provide basis for an audit opinion. 

Basis for Disclaimer of Opinion

As described in the report of the Board of Directors in section Risks and
uncertainty factors and subsections Carrying out customer projects,
profitability and forecasting and Risks relating to international operations,
receivables and developing markets and disclosed in Note 18. Trade and other
current receivables to the consolidated financial statements, a project
accounting receivable totaling EUR 14.1 million is included in the customer and
project accounting receivables. The project accounting receivable is also
included in the parent company’s project accounting receivables on the balance
sheet. We were not able to obtain sufficient audit evidence upon the project
accounting receivable. 

Disclaimer of Opinion

Due to the significance of the matter described in the Basis for Disclaimer of
Opinion paragraph, we have not been able to obtain sufficient audit evidence to
provide a basis for an audit opinion. Accordingly, we do not express an opinion
on the financial statements or the report of the Board of Directors. 

Interim Report for the period from 1 January to 30 June 2015

We refer to the Securities Market Act, Chapter 7 section 8 subsection 2 and
state that the matters described above are to be considered when assessing the
compliance of the consolidated interim report for the period from 1 January to
30 June 2015 with the related rules and regulations. 

Helsinki, 13 April 2016

KPMG OY AB

(signed)
Toni Aaltonen
Authorised Public Accountant

TECNOTREE CORPORATION

DISTRIBUTION
NASDAQ Helsinki Ltd
Main Media
www.tecnotree.com

About Tecnotree
Tecnotree is a global provider of telecom IT solutions for the management of
products, customers and revenue. Tecnotree helps communications service
providers to transform their business towards a marketplace of digital
services. Tecnotree empowers service providers to monetise service bundles,
provide personalised user experiences and augment value throughout the customer
lifecycle. With around 1000 telecom experts, Tecnotree serves around 90 service
providers in around 70 countries. Tecnotree is listed on the main list of
Nasdaq Helsinki with the trading code TEM1V. For more information on Tecnotree,
please visit www.tecnotree.com.