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Consolidated Financial Statements SAMSUNG SDI CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements December 31, 2012 and 2011 (With Independent Auditors’ Report Thereon) Contents Page Independent Auditors’ Report 1 Consolidated Statements of Financial Position 2 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Changes in Equity 4 Consolidated Statements of Cash Flows 6 Notes to the Consolidated Financial Statements 8 Independent Auditors’ Report Based on a report originally issued in Korean The Board of Directors and Stockholders Samsung SDI Co., Ltd.: We have audited the accompanying consolidated statements of financial position of Samsung SDI Co., Ltd. and its subsidiaries (the “Group”) as of December 31, 2012 and 2011, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the years then ended. Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Korean International Financial Reporting Standards. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the Republic of Korea. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Group as of December 31, 2012 and 2011 and the financial performance and its cash flows for the years then ended in accordance with Korean International Financial Reporting Standards. As discussed in note 2 to the consolidated financial statements, the Group adopted the amendment to K-IFRS No. 1001, ‘Presentation of Financial Statements’ for the year ended December 31, 2012. The amendment requires operating profit, which is calculated by revenue less: 1) cost of sales, and 2) selling, general and administrative expenses, to be separately presented on the statements of comprehensive income. The Group applied this change in accounting policies retrospectively, and accordingly restated the comparative information of the statement of comprehensive income for the year ended December 31, 2011. Seoul, Korea March 2, 2013 This report is effective as of March 2, 2013, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the accompanying consolidated financial statements and notes thereto. Accordingly, the readers of the audit report should understand that the above audit report has not been updated to reflect the impact of such subsequent events or circumstances, if any. SAMSUNG SDI CO., LTD. AND SUBSIDIARIES Consolidated Statements of Financial Position As of December 31, 2012 and 2011 (In thousands of won) Note 2012 2011 Assets Cash and cash equivalents 4,6 ￦ 946,516,332 757,661,035 Trade and other receivables, net 4,7,30 776,407,709 921,072,251 Inventories, net 8 558,451,773 583,586,734 Other investments 4,9 65,011,477 43,914,921 Other assets 4,10 68,469,040 57,874,076 Total current assets 2,414,856,331 2,364,109,017 Long-term trade and other receivables, net 4,7,30 5,570,544 4,596,161 Investments in Associates and joint ventures 11,32 4,004,966,280 1,899,028,212 Property, plant and equipment, net 5,12 1,971,102,028 1,827,201,635 Intangible assets, net 5,13 171,007,082 140,296,912 Investment property 5,14 34,078,481 54,753,819 Deferred tax assets 28 164,181,243 55,168,556 Non-current other investments 4,9 2,047,301,194 2,097,181,680 Non-current other assets 10,13 82,024,109 85,074,763 Total non-current assets 8,480,230,961 6,163,301,738 Total assets ￦ 10,895,087,292 8,527,410,755 Liabilities Trade and other payables 4,15,17,30 1,317,601,806 961,510,703 Income tax payable 28 17,689,999 16,498,584 Advance received 9,320,359 8,203,104 Unearned revenue 667,546 2,404,551 Short-term borrowings 4,16 658,761,555 761,365,924 Total current liabilities 2,004,041,265 1,749,982,866 Long-term trade and other payables 4,15,17,30 16,118,217 29,192,687 Long-term borrowings 4,16 474,292,540 - Employee benefits 18 42,592,368 31,782,891 Deferred tax liabilities 28 793,561,300 401,925,090 Total non-current liabilities 1,326,564,425 462,900,668 Total liabilities 3,330,605,690 2,212,883,534 Equity Capital stock 1,20 240,681,185 240,681,185 Capital surplus 20 1,258,440,118 1,258,119,974 Other capital 21 (163,787,925) (165,394,676) Accumulated other comprehensive income 22 1,051,350,256 1,173,911,801 Retained earnings 23 4,986,541,200 3,610,804,370 Equity attributable to owners of the Company 7,373,224,834 6,118,122,654 Non-controlling interests 191,256,768 196,404,567 Total equity 7,564,481,602 6,314,527,221 Total liabilities and equity ￦ 10,895,087,292 8,527,410,755 See accompanying notes to the consolidated financial statements. 2 SAMSUNG SDI CO., LTD. AND SUBSIDIARIES Consolidated Statements of Comprehensive Income For the years ended December 31, 2012 and 2011 (In thousands of won, except earnings per share) Note 2012 2011 Revenue 5,30 ￦ 5,771,184,920 5,443,881,395 Cost of sales 8,18,25,30 (4,863,335,814) (4,760,612,460) Gross profit 907,849,106 683,268,935 Selling, general and administrative expenses 18,24,25 (720,974,877) (573,300,963) Operating profit 186,874,229 109,967,972 Other income 11,26 1,822,689,046 283,408,819 Other expenses 26 (452,674,982) (189,663,040) Finance income 27 179,177,778 292,715,333 Finance costs 27 (210,436,060) (303,366,629) Share of profit of equity accounted investees 11 503,791,259 285,037,060 Income before income tax 2,029,421,270 478,099,515 Income tax expense 28 (542,606,922) (127,044,600) Net income ￦ 1,486,814,348 351,054,915 Other comprehensive income (loss) Effective portion of changes in fair value of cash flow hedges (873) - Net change in fair value of available-for-sale financial assets (55,663,219) (217,186,627) Change in unrealized holding gain on equity method investments (29,065,062) 3,462,824 Gain (loss) on translation of foreign operations (73,214,647) 14,424,408 Defined benefit plan actuarial loss (37,418,011) (8,341,348) Income tax 33,077,526 13,535,467 Other comprehensive loss, net of income tax (162,284,286) (194,105,276) Total comprehensive income ￦ 1,324,530,062 156,949,639 Net income attributable to: Owners of the Company 5,31 1,471,502,017 320,109,230 Non-controlling interests 31 15,312,331 30,945,685 Total comprehensive income attributable to: Owners of the Company 1,320,643,104 124,616,905 Non-controlling interests 3,886,958 32,332,734 Earnings per share 29 Basic earnings per share (won) 33,885 7,341 Diluted earnings per share (won) 33,879 7,332 See accompanying notes to the consolidated financial statements. 3 SAMSUNG SDI CO., LTD. AND SUBSIDIARIES Consolidated Statements of Changes in Equity For the years ended December 31, 2012 and 2011 Accumulated other comprehensive Retained Non-controlling (In thousands of won) Capital stock Capital surplus Other capital income earnings interests Total equity Balance at January 1, 2011 ￦ 240,681,185 1,255,831,094 (169,964,808) 1,333,566,877 3,391,052,037 179,695,124 6,230,861,509 Comprehensive income Net income - - - - 320,109,230 30,945,685 351,054,915 Change in fair value of available-for-sale financial assets - - - (202,095,007) - - (202,095,007) Change in unrealized holding loss on equity method investments - - - 1,687,626 - (83,246) 1,604,380 Change in loss on translation of foreign operations - - - 11,237,798 - 1,470,295 12,708,093 Defined benefit plan actuarial loss - - - - (6,322,742) - (6,322,742) Total comprehensive income - - - (189,169,583) 313,786,488 32,332,734 156,949,639 Transactions with owners of the Company, recognized directly in equity Dividends - - - - (71,662,160) (5,431,657) (77,093,817) Capital contribution from Non-controlling interests - - - - - 60,606 60,606 Reduction of capital - - - - - (10,252,240) (10,252,240) Exercise of share option - 1,135,200 4,570,132 - - - 5,705,332 Others - 1,153,680 - 29,514,507 (22,371,995) - 8,296,192 Balance at December 31, 2011 ￦ 240,681,185 1,258,119,974 (165,394,676) 1,173,911,801 3,610,804,370 196,404,567 6,314,527,221 See accompanying notes to the consolidated financial statements. 4 SAMSUNG SDI CO., LTD. AND SUBSIDIARIES Consolidated Statements of Changes in Equity, Continued For the years ended December 31, 2012 and 2011 Accumulated other comprehensive Retained Non-controlling (In thousands of won) Capital stock Capital surplus Other capital income earnings interests Total equity Balance at January 1, 2012 ￦ 240,681,185 1,258,119,974 (165,394,676) 1,173,911,801 3,610,804,370 196,404,567 6,314,527,221 Total comprehensive income Net income - - - - 1,471,502,017 15,312,331 1,486,814,348 Effective portion of changes in fair value of cash flow hedges - - - (873) - - (873) Change in fair value of available-for-sale financial assets - - - (44,244,387) - - (44,244,387) Change in unrealized holding
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