Negative operating EBIT

Annual Financial Report 2009/10

Half-empty or half-full?

Annual Financial Report 2009/10 ? Table of contents

Part 1: Annual Report of the Group 12 Chief Executive's Review 14 Report of the Supervisory Board 16 Corporate Governance Report 22 The Company 29 Management Report 45 Consolidated Financial Statements 46 Statement of comprehensive income 47 Cash Flow Statement 48 Balance Sheet 49 Notes to the consolidated financial statements for the

fiscal year from October 1, 2009 to September 30, 2010 80 Service

Part 2: Financial Statements of BRAIN FORCE HOLDING AG according to Austrian Commercial Code ? UGB Balance Sheet Annex 1 Income Statement Annex 2 Notes Annex 3 Management Report Annex 4 Auditor`s Report

Part 3: Declaration of the Management according to ? 82 (4) (3) B?rseG

Annual Report 2009/10

Half-empty or half-full?

? 15% organic revenue decline ? Restructuring ? Negative operating EBIT

A matter of

perspective

+ Optimized cost structure + 3 strategic transactions + Positive net earnings

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