Half-Year Financial Report as at 31 March 2014 / All for One Steeb

Dear Shareholders, Ladies and Gentlemen: We successfully finished the first 6 months of the financial year 2013/14 with a growth in revenues of 24% to EUR 109.1 million and a 49% increase in EBIT to EUR 7.4 million. The EBIT margin for the period of October 2013 to March 2014 improved from 5.6% to 6.8%. Whereas in the first half-year 2012/13 we reported a decline of 9% in what are by their very nature volatile licensing sales, we were able to increase these by 67% in the current reporting period and post licensing revenues in the amount of EUR 17.9 million.

Filderstadt, 15 May 2014 – »The customer comes first, second and third« is a principle that our employees also fully accept and support. As »the company for people who want to get things done«, we have built a strong employer brand with a distinctive identity, unmistakable culture and values that are faithfully put into practise. »We’ll celebrate our 1,000th employee with 1,000 litres of free beer at the next garden party, college graduation gala, or farewell get-together at his or her former employer« was the theme of our recruitment campaign that on 28 February 2014 helped us achieve the milestone of bringing our thousandth employee (including apprentices and trainees) on board. The small-business magazine Markt + Mittelstand acclaimed this campaign as the »Idea of the Month«. Our employees voted us one of Germany’s »Best Employers in ICT 2014« as part of the respected Great Place to Work Institute’s survey. The news magazine FOCUS also ranked All for One Steeb one of the »Best Employers in Germany« from among the 800 companies from 22 industries surveyed (FOCUS Spezial, February 2014).

We supplement our vigorous organic growth with a buy & build strategy designed to further strengthen our business model. Following the acquisition and integration of Steeb (2011/12), OSC, selected assets of ORGA, WEBMAXX (2012/13) and the enlargement of our shareholdings in KWP (2013/14), we see in the acquisition of avantum consult AG, Düsseldorf, the opportunity of also taking a top spot in the overall market for enterprise performance management and business analytics. Shareholders also benefit from such good developments, as witnessed by the annual general meeting of 27 March 2014 approving a dividend of 50 euro cents per share (prior year: 15 euro cents per share). Despite this strong first half-year, we remain committed to our existing forecast for the financial year 2013/14.

We regularly release information about new developments in the company in the intervals between our quarterly reports. Shall we send this information directly to you? If so, you can sign up to receive such news in the Investor Relations section of our website www.all-for-one.com.

Yours sincerely,

Lars Landwehrkamp, CEO

Stefan Land, CFO