1 PFLEIDERER AG NINE-MONTH FINANCIAL REPORT 2007

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Explanatory Notes on the Report on the First Nine Months Ended September 30, 2007 1. Basis of preparation The condensed interim consolidated financial statements of Pfleiderer AG as of September 30, 2007, have been prepared on the basis of IAS 34, Interim Financial Reporting, as required by International Financial Reporting Standards (IFRSs) and the related Interpretations of the International Accounting Standards Board (IASB) as adopted by the EU in accordance with Regulation (EC) No. 1606/2002 of the European Parliament and of the Council on the application of international accounting standards. The interim financial statements do not contain all the explanatory notes and disclosures required for year-end financial statements and should therefore be read in conjunction with the consolidated financial statements for the year ended December 31, 2006 (www.pfleiderer.com). The requirements of the Standards applied have been complied with in full and result in the presentation of a true and fair view of the net assets, financial position and results of operations of the Pfleiderer Group. 2. Summary of significant accounting policies The accounting and measurement, as well as the explanatory notes and disclosures, are based on the same accounting policies applied in the 2006 consolidated financial statements. For information on accounting policies other than those presented in the following, please refer to the consolidated financial statements for the year ended December 31, 2006. Prior-year comparative figures To enhance comparability, the prior-year comparative figures relating to discontinued operations in the statement of income, the segment reporting, and the statement of cash flows were reclassified in accordance with IFRS 5. Such prior-year comparative figures were not reclassified in the balance sheet in accordance with IFRS 5.40. Operations already disposed of and deconsolidated during the reporting period are presented as discontinued operations in the prior-year statement of income. Basis of consolidation The interim financial statements include the financial statements of Pfleiderer AG and its majorityowned and controlled subsidiaries as of September 30, 2007. All significant subsidiaries that are controlled directly or indirectly by the Company are included in the interim consolidated financial statements. 24 PFLEIDERER AG NINE-MONTH FINANCIAL REPORT 2007
The following subsidiaries were included in the consolidated financial statements for the first time in the first quarter of the fiscal year: Holding Acquisitions Pergo AB, Trelleborg, Sweden 100.00% Pergo Holding BV, Zoetermeer, Netherlands 100.00% Pergo Golv AB, Trelleborg, Sweden 100.00% Pergo (Europe) AB, Trelleborg, Sweden 100.00% Declam Holding AB, Perstorp, Sweden 100.00% Pergo AS Denmark, Copenhagen, Denmark 100.00% Pergo A/S, Nesbru, Norway 100.00% Pergo OY, Esbo, Finland 100.00% Pergo BV, Zoetermeer, Netherlands 100.00% Pergo GmbH, Düsseldorf, Germany 100.00% Pergo AG, Zug, Switzerland 100.00% Pergo Ltd., Abingdon, United Kingdom 100.00% Pergo NV/SA, Antwerp, Belgium 100.00% Pergo (France) SAS, Rueil Malmaison, France 100.00% Pergo Iberia SL, Madrid, Spain 100.00% Pergo Inc., Raleigh, North Carolina, U.S.A. 100.00% Simple Solutions USA LCC, Raleigh, North Carolina, U.S.A. 100.00% Pergo Canada Inc., Florence, Massachusetts, U.S.A. 100.00% Pergo do Brasil, Ltda., São Paulo, Brazil 100.00% Pergo Argentina SA, Buenos Aires, Argentina 100.00% Pergo Asia-Pacific Pte Ltd., Singapore, Singapore 100.00% Pergo Trading Co Ltd., Guangzhou, China 100.00% Pergo India Pvt Ltd., New Delhi, India 50.00% Pergo Asia Co Ltd., Bangkok, Thailand 100.00% Pergo Thailand Co Ltd., Bangkok, Thailand 100.00% Others Pfleiderer Sweden AB, Stockholm, Sweden 100.00% Pfleiderer Schweiz AG, Zug, Switzerland 100.00% The companies reported under "Others" were already established in the previous year, but were not previously consolidated for reasons of materiality. There were no changes in the third quarter of 2007 compared with the first two quarters of fiscal year 2007. There were no further changes in the basis of consolidation compared with the most recent year-end financial statements as of December 31, 2006. 25 PFLEIDERER AG NINE-MONTH FINANCIAL REPORT 2007
Page 1 and 2: 1 PFLEIDERER AG NINE-MONTH FINANCIA
Page 3 and 4: Contents 4 Foreword by the Executiv
Page 5 and 6: It is our declared goal to maintain
Page 7 and 8: Sectors) and the Verband der Deutsc
Page 9 and 10: 2006, to €773.1 million at the en
Page 11 and 12: Pfleiderer’s encouraging business
Page 13 and 14: concretized in the form of specific
Page 15 and 16: In contrast to Europe, the situatio
Page 17 and 18: Pfleiderer Shares Pfleiderer share
Page 19 and 20: Balance Sheet of the Pfleiderer Gro
Page 21 and 22: Statement of Changes in Equity of t
Page 23: North America € thousands Jan. 1
Page 27 and 28: Revenue recognition Revenues are ge
Page 29 and 30: Government grants Government assist
Page 31 and 32: The financial assets reported as lo
Page 33 and 34: The stock options allow Pfleiderer
Page 35 and 36: shareholders is expected to be comp
Page 37 and 38: 10. Repurchase of own shares to ser

1 PFLEIDERER AG NINE-MONTH FINANCIAL REPORT 2007

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