Interim Report 1 January–31 March 2006

Broström AB (publ) – Reg. no. 556005-1467 • Strong start to 2006 - 2006 started out with a strong freight market, followed in the later part of the quarter by a downturn in the market, primarily for large tonnage. ­- Cold weather in northern Europe affected Broström, with its large fleet of ice-classed vessels, favourably. - Implemented acquisitions and new partnerships entered into in 2005 are contributing to greater capacity utilisation of Broström’s fleet and are having a steadily greater impact on Broström’s earnings. • Profit after net financial items for the first quarter SEK 310 m (162) ­- Net sales SEK 953 m (760, of which 106 pertains to the sold subsidiary Nordic Bulkers AB). ­- Profit after tax SEK 256 m (136). - Earnings per share SEK 7.74 (4.17). - Return on capital employed 20.3% (16.6%). ­ • Cash flow and disposable liquidity ­- Cash flow per share SEK 7.99 (5.79). ­- Disposable liquidity amounted to SEK 1,512 m (1,295 on 31 December 2005). • Change in transport capacity during the first quarter ­- The BRO STELLA was sold and delivered. ­- The BRO PROMOTION (formerly the IVER EXAMPLE) and the BRO PREMIUM (formerly the IVER EXACT) were acquired. ­- Broadened partnership with Dünya will be adding six newly built vessels (17,000 dwt, ice class 1A) to Broström’s fleet within two years. Outlook for 2006 The start of the second quarter of 2006 has been characterised by a seasonal downturn of the spot market in Broström’s market segments. Warmer weather is lowering demand for fuel oil, and depots are being emptied to create room for fuel that is more suitable for summer use. In addition, the customary build-up of gasoline stocks has been delayed because more refineries than usual have been shut down for scheduled maintenance this year. Structural changes in the market and widening regional imbalances are giving rise to a continued greater need for transport in Broström’s segment. The outlook for 2006 as a whole continues to be favourable.